• Vraj Iron & Steel debuted at ₹241, 16% above its issue price, receiving a positive listing. The company’s financial performance has been consistent, demonstrating profitability. Analyst Shivani Nyati highlighted risks but maintained ‘buy’ rating with a target above ₹300.

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• Stock Market Today: Multibagger TARC share price gained more than 8% to all-time high during intraday trades om Wednesday. While stock closed at levels close to ₹217, Ambit target price of ₹325 indicated another 50% upside for the stock

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• Top Gainers and Losers Today : The Sensex gained 545.35 points, or 0.69, to settle at 79441.45, while the Nifty gained 162.65 points, or 0.67, to close at 24123.85.

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• ACME Solar Holdings files DRHP with Sebi for ₹3,000 crore IPO

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• Emcure Pharmaceuticals IPO subscription opens with ₹582 crore raised from anchor investors. Price range set at ₹960-1,008 per share. IPO closes on July 5 with allocation percentages for different investor categories.

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• Stock Market Today: What drove the Sensex, Nifty 50 to fresh highs- explained with 5 reasons

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• Power Finance Corporation and Rural Electrification Corporation stocks surged today, with PFC up 5.6% at ₹530 and REC up 4.5% at ₹564. Bernstein projects further upside for both stocks, initiating coverage with an ‘outperform’ rating and setting target prices of ₹653 and ₹620, respectively.

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• Risks from existing competition and LIC’s potential entry into health insurance are well-known. But the growing coverage of the population under the Ayushman Bharat scheme is a bigger risk for the health insurance sector.

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• WhiteOak advises investment in banking & financial services sector citing long-term wealth creation, sector’s historical outperformance, and underperformance in recent years.

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• Bansal Wire IPO price band is set at ₹243 to ₹256 per share. The IPO lot size is 58 shares. The company has already raised over ₹223 crore from anchor investors on July 2, ahead of the opening of its IPO.

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• Market experts highlight key macroeconomic trends like fiscal policies and inflation rates. Insights from financial analysts suggest monitoring government reforms and global influences.

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• Zomato stock hits all-time high at ₹214, with market value close to ₹2 lakh crore. Analysts upgrade ratings as Zomato outpaces Swiggy in growth metrics, showing profitability and potential for further expansion.

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• Nephro Care India IPO share allotment to be finalised today. Check allotment status on Bigshare Services Pvt Ltd portal. Subscription status 715.78 times. Listing date set for July 5 on NSE SME.

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• Remittances play a crucial role in a country’s balance of payments position.

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• The story of Varun Beverages has a warning for investors.

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• Stock Market Today: Reliance Industries share price have gained more than 20% year to date. UBS expects another 10% upside led by growth trends in Jio and retail, even as Oil to chemicals segment growth may remain moderate

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• Wipro’s stock surged 23% in less than a month, nearing its 2024 high. Brokerages like Nomura and CLSA upgraded ratings and raised price targets on the stock.

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• Sensex hits historic 80,000 milestone in July 2024 after rapid climb from 75,000 in just 58 sessions, including special trading day. Nifty also reaches new high. Banking and financial sectors surge, led by HDFC Bank.

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• Acquisition of Nicotinell will give Dr Reddy’s access to key global customers, markets, talent
• Analysts are jittery as the acquired portfolio is a slow-growing business

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• The increasing likelihood of a second Trump administration has helped spark a steep selloff in U.S. government bonds.

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• Gold price today: Gold prices rise in the domestic futures market, tracking positive global cues ahead of Federal Reserve’s policy meeting minutes. Expectations are high for a rate cut in September. MCX Gold for August 5 delivery rose by 0.4 per cent to levels above ₹71850 per 10 grams.

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• Bansal Wire Industries IPO retail portion fully subscribed within hours of opening.

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• MOIL performance was backed by record quarterly production, going up to a level of 4.70 lakh tonnes during Q1FY25, registering a growth of 7.8% YoY.

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• Federal Bank share price rises as gross advances grew 20% to ₹2,24,139 crore in the quarter ended June 2024 as against ₹1,86,593 crore in the year-ago quarter.

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• Top Stock Recommendations: Sagar Doshi of Nuvama Professional Clients Group recommends these three stocks today – Tamil Nadu Newsprint & Paper Ltd, Sagar Cements Ltd, and IFGL Refractories Ltd.

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• Following shares hit their 52 week low today – Divine Power Energy, Vilin Bio Med, Future Supply Chain Solutions, Hilton Metal Forging, Salasar Exteriors & Contour

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• Following shares hit their 52 week high today – Genus Power Infrastructures, HDFC Bank, ICICI Lombard General Insurance Company, HDFC Asset Management Company, Trent

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• Avenue Supermarts share price has gained over 10% in one month, while the stock is up more than 17% year-to-date (YTD).

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• Bansal Wire Industries IPO opens today: Bansal Wire Industries IPO opens with a fresh issue of 2.91 crore shares to raise ₹745 crore. The company offers over 3,000 SKUs in steel wire segments. It plans to use proceeds for outstanding borrowings and working capital.

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• Geojit Financial Services downgrades LT Foods to SELL rating, citing margin pressure. Target price revised to ₹230. Long-term margins expected to improve with focus on value-added products. EBITDA margin projected at 14-14.5% in 5 years. Favorable court order for ₹161.2 crore received.

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• Gold And Silver Prices Today:Gold And Silver Prices Today : 10 gm of 24 carat gold was at Rs.72911.0 in Delhi whereas 1 kg of silver was Rs.88190.0 in Delhi.

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• Diensten Tech share price listed with a stellar 140% premium, at ₹240 a share on the NSE SME on Wednesday giving Multibagger returns to the subscribers. The issue that started for subscription on 26 June 2024 had received a good response with issue being subscribed almost 54 times

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• Vraj Iron and Steel share price had a strong debut on NSE and BSE, opening at ₹240 per share, 15.94% above the issue price of ₹207.

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• Emcure Pharmaceuticals IPO subscription opens with ₹582 crore raised from anchor investors. Price range set at ₹960-1,008 per share. IPO closes on July 5 with allocation percentages for different investor categories.

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• Continuing their unstoppable rally, Indian benchmark indices achieved new historic milestones in early morning trade today. The S&P BSE Sensex surpassed the 80,000 mark for the first time, while the Nifty 50 reached a fresh all-time high of 24,292, approaching the 24,300 level.

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• Nifty Bank index surged by 1.35% led by HDFC Bank reaching 52,876 mark. HDFC Bank’s 3.66% advance was driven by decline in FII shareholding to below 55%, expected to boost MSCI inflows.

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• Stock market today: A confluence of factors has boosted India’s primary market. The biggest reason is India’s strong macro environment, which has raised investor confidence.

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• FIIs holding in HDFC Bank below 55% could lead to a significant weight change from 3.8% to 7.2% to 7.5%, potentially triggering inflows of $3.2 billion to $4 billion.

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• Vraj Iron and Steel IPO listing date set for today at 10:00 IST. Shares to list in pre-open session on both BSE and NSE. Equity shares to be listed on BSE within ‘T’ Group of Securities list.

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• Stocks to buy or sell: Sumeet Bagadia recommended buying these five breakout stocks today — Indo Borax & Chemicals, Pudumjee Paper Products, DCX Systems, POCL Enterprises and Rane Holdings.

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• Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — Tata Consumer Products Ltd, Torrent Pharmaceuticals Ltd, and KEC International Ltd.

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• Tesla said it delivered around 443,95 vehicles worldwide in the April-June period, exceeding Wall Street average estimates of 439,302 vehicles.

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• Motilal Oswal Financial Services receives SEBI warning on broking procedure for customer UCC data uploading on MCX platform. Company reports a significant 334% YoY increase in net profit for March quarter, with EBITDA rising to ₹1,231.5 crore. Stock price closes over 4% lower on BSE.

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• The trends on Gift Nifty also indicate a strong start for the Indian benchmark index. The Gift Nifty was trading around 24,335 level, a premium of nearly 135 points from the Nifty futures’ previous close.

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• Indian stock market: Gift Nifty was trading around 24,340 level, a premium of nearly 140 points from the Nifty futures’ previous close, indicating a strong start for the Indian stock market indices.

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• Stocks to buy today: Experts have recommended buying these five buy-or-sell stocks — SBI Life, Indigo, DMart, Bombay Dyeing and Craftsman.

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• These stocks will be available for trading in the cash market. The National Stock Exchange (NSE) said the derivative contracts in the securities crossed 95% of the market-wide position limit.

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