• First Abu Dhabi Bank PJSC is among potential suitors for a roughly $5 billion stake in India’s Yes Bank Ltd., according to people with knowledge of the matter.

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• While most companies are expected to show moderate earnings growth in the June quarter, the brokerage has identified four firms that are likely to report a double-digit decline in their net profit for Q1FY25. Let’s delve into the details.

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• BofA analysts predict a narrow risk-reward range for HDFC Bank’s stock over the next 12 months, following its 20 percent rise from February lows, partly driven by index weight optimism.

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• Gold’s rally in the first half of 2024 highlights its potential as a safe haven despite rising rates. Can geopolitical tensions and a Fed pivot fuel further gains?

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• Sahaj Solar IPO subscriptions start on July 11 and end on July 15, priced at ₹171-180 per share. Retail investors get 35%, QIB 50%, and NII 15% allocation. Company offers solar solutions with expertise in PV modules, solar pumping systems, and EPC services.

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• Top Gainers and Losers Today : The Sensex lost 426.87 points, or -0.53, to settle at 80351.64, while the Nifty lost 108.75 points, or -0.45, to close at 24433.2.

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• Emcure Pharma’s IPO saw strong investor interest, with oversubscription rates of 67.87 times. Post-listing, shares rose 4.5% to Rs. 1384, reflecting confidence in the company’s future. Shivani Nyati of Swastika Investmart suggests holding positions with a stop loss at Rs. 1200.

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• Stock market today: Nifty 50, Sensex fall about half a per cent each on profit booking

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• Zerodha’s Nithin Kamath says crypto platforms defy SEBI’s derivatives trading curbs. Crypto F&O ads flourish despite regulatory efforts to limit futures and options trading, sparking concerns over market manipulation and investor protection.

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• Ambit Capital highlights that several companies are currently trading at attractive valuations, with some of its portfolio stocks like Rossari, PI Industries, and Alkyl Amines offering forward FCF yields exceeding 2%–3%.

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• Multibagger stock: Supreme Power Equipment share price has surged by 235% in just over six months, with a roller coaster ride marked by sharp declines and significant increases. Technical analysts predict a bearish trend towards 300 levels, advising investors to avoid it for now.

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• Investors are caught in a dilemma over PFC and REC stocks amid similar financial performances
• Their valuation compares well with most banks and NBFCs

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• Expert view: Irfan Mohammed, executive director at Aspero, believes the inclusion of Indian bonds in major global indices is expected to boost liquidity and lower borrowing costs.

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• IPO Craze: Bloomberg noted that shares that began trading in India this year delivered average 57 per cent gain since their debut, compared to the 32 per cent for Asia Pacific, and more than double the global average.

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• Effwa Infra and Research IPO allotment status can be checked online through the website on NSE and the official portal of IPO registrar. Bigshare Services Pvt Ltd is the Effwa Infra and Research IPO registrar.

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• A stock’s 52-week high or low can be a useful indicator of its price momentum and potential value. However, investment decisions should be based on more than just these figures.

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• BLS International, a key player in the visa services sector, is projected to experience revenue growth driven by its strategic expansions and focus on value-added services. Nuvama recommends a ‘BUY’ rating with a target price of ₹518, anticipating a 37% upside.

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• Stocks to buy: Experts recommend investing in quality stocks with reasonable valuation and healthy growth prospects. Wealth management firm DevenChoksey lists TCS, Bajaj Finance, Balaji Amines, DCX Systems, SBI Life Insurance, and Shree Cement as top picks for July.

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• Nifty Auto index dropped nearly 3% due to M&M’s sharp decline after announcing price cuts. Tata Motors also reduced prices on SUVs. Maruti Suzuki, however, surged to a new high on registration fee waiver for hybrid cars.

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• Maruti Suzuki share price rallied over 3% to hit a record high, while M&M shares drifted nearly 8% lower along with Tata Motors share price falling more than 2%.

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• Stock Market Today: Multibagger NALCO share price that has gained more than 137% in last one year sees strong investors and analysts confidence. Here are 5 key reasons why SBI Securities expects 19% upside for the stock. Remains its pick of the week.

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• The first half of 2024 saw a bull run, with market capitalisation hitting a record ₹397.1 lakh crore, up 23.4%. Midcaps led the charge, with 26.4% growth, followed by smallcaps at 25.7% and largecaps at 21.9%. Significant shifts in market categories and IPO contributions were noted.

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• Gold price today: Gold has seen decent gains this year due to expectations of rate cuts, geopolitical uncertainty, and the strong buying of yellow metal by major global central banks.

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• Ganesh Green Bharat IPO allotment date today. Investors can check basis of allocation and quantity of shares allotted. Refund process begins on July 11 for non-allotted applicants. Listing date scheduled for July 12.

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• Domestic brokerage firm Motilal Oswal anticipates its coverage universe to report pre-sales of ₹286 billion in 1QFY25, reflecting a 79% year-over-year (YoY) increase and flat quarter-over-quarter (QoQ) performance.

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• Brokerage firm Motilal Oswal has recommended three stocks to buy – TVS Motor, ONGC and BHEL – this week with an upside potential of more than 7%

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• Expert view: Atul Parekh highlights that approach to managing fiscal deficit crucial in Union Budget 2024. Maintaining current level favourable for the market, while an increase could impact market sentiment negatively. Fiscal deficit strategy will shape market reactions and economic outlook.

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• Bansal Wire shares listed on the BSE and the NSE with healthy gains on Wednesday, July 10, defying weak market sentiment.

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• Sensex crashed more than 900 points to fall below 79,600 level, while the Nifty 50 tanked more than 200 points to slip below 24,200.

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• Following shares hit their 52 week high today – Maruti Suzuki India, Britannia Industries, Grasim Industries, Bharat Electronics, ICICI Bank

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• The regulator’s board approved a proposal for an optional rrmechanism to allow Sebi-registered investment advisors and research analysts to collect fees from their clients, who will be assured they are interacting with bona fide entities.

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• The AX7 Petrol-MT 6-str is now priced at ₹19.69 lakh, down from ₹21.54 lakh, reflecting a reduction of ₹1.85 lakh.

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• Pulsar International, a penny stock, has seen exponential growth, surging 13,200% in five years. The company’s strong performance and market confidence make it a standout in the stock market. However, one must note that investing in penny stocks involves high volatility.

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• Experts predict a slight rise in India’s June CPI inflation, mainly due to food prices, but it is not expected to negatively impact the record-high stock market. Market focus remains on upcoming Union Budget 2024 and Q1 earnings of Indian companies.

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• Top Stock Recommendations: Sagar Doshi of Nuvama Professional Clients Group recommends these three stocks today – Laurus Labs Ltd, Balrampur Chini Mills Ltd, and Hindalco Industries Ltd.

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• Bansal Wire share price began trading at ₹356 apiece on the NSE, a premium of 39.06% to the issue price of ₹256 per share.

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• On NSE and BSE, Emcure Pharmaceuticals share price opened at ₹1,325.05 per share, 31.45% higher than the issue price of ₹1,008.

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• Stock Market Today: Rail Vikas Nigam share price gained more than 7% in morning trades on Wednesday. RVNL announced receipt of LOA from Maharashtra Metro Rail Corporation, it signed a MOU in middle east for expertise utilisation in Railway sector and remains lowest bidder in a SE railway project.

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• Delta Corp share price fell over 4% after its consolidated net profit in the first quarter of FY25 declined 67.6% to ₹21.68 crore from ₹68 crore in the year-ago period.

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• Bansal Wire Industries IPO expected to list at ₹330-340 per share with a gain of 30%, investors advised to book profits. IPO valued at ₹745 crore received overwhelming response, expected listing above ₹315 with a gain of 42-65%.

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• Regarding stocks to buy today, stock market experts Sumeet Bagadia, Executive Director at Choice Broking, and Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, recommended buying these five buy-or-sell stocks: Tega, Welcorp, Indigo, ATGL, and Navinfluor

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• Singapore stocks are are set for a six-year high as investor optimism grows ahead of earnings season. The Straits Times Index is up 0.6% for the highest close since June 2018.

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• Emcure Pharmaceuticals IPO expected to have a healthy listing gain of 25-30% with strong investor interest, attractive prices, and top-line growth. Anticipated offering price between ₹1,370-1,390 per share with a listing premium of 37%.

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• The trends on Gift Nifty also indicate a muted start for the Indian benchmark index. The Gift Nifty was trading flat at around 24,480 level.

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• Indian stock market: Gift Nifty was trading around 24,485 level, a premium of nearly 7 points from the Nifty futures’ previous close, indicating a flat start for the Indian stock market indices.

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• India’s manufacturing sector is poised for a breakout moment, but will the government maintain its focus or shift priorities? This decision will ripple through the economy, impacting job creation, infrastructure development, and the nation’s global standing.

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• Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today —Latent View Analytics, Apollo Tyres, and Union Bank of India

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• The market’s fears about the impact of RBI’s decision to restrict the use of exchange-traded currency derivatives for hedging appear to have come true. Investors are ditching NSE in favour of the Singapore Exchange for trading in rupee-dollar futures.

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