Latest Market News Today Live Updates July 8, 2024: Nestle Dividend FY25: Stock surges over 2% on ₹2.75 interim dividend announcement

• In an exchange filing, the company announced that its board has approved an interim dividend of ₹2.75 per share with a face value of ₹1 each for the financial year 2024-25.

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• Hitachi Energy India’s stock has soared by 235% since October 2023, reaching new highs. The company’s growth is fueled by factors like grid digitalisation, increased power generation, and a strong demand for transmission equipment.

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• Stock Market today: Bajaj Auto, Hero MotoCorp , Eicher Motors, TVS Motor share prices have risen 49-74% over last year. While the two wheeler sales in FY24 grew strong 9.8%, CareEdge Ratings expects 7-9% FY25 growth led by EV Sales, rural demand picks up, new models lainches and other reasons .

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• Sati Poly Plast IPO subscription starts on July 12 and ends on July 16 with a price band of ₹123 to ₹130 per share. Company offers flexible packaging solutions for various sectors. Top 10 customers contribute more than 50% of revenue.

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• The Nifty Pharma index has outperformed the benchmark Nifty 50, rising nearly 48 per cent. The benchmark index has gained nearly 26 per cent in the same period.

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• Global wholesales of all commercial vehicles, including the Tata Daewoo range, reached 93,410 units in Q1 FY25, marking a 6 per cent increase compared to Q1 FY24.

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• Hyundai Motor India IPO: InCred notes Hyundai Motor India IPO offers investment opportunities in the Indian auto sector, with favourable profit margins and RoCE. The long-term value gap between Hyundai Group and its international peers raises concerns about valuation compared to Maruti.

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• Kaya’s shares reached a 5-year high at ₹604.25 per share, posting an 80% gain year-to-date. The collaboration with Marico aims to boost market accessibility. The company introduced advanced haircare solutions and an AI-based doctor app to meet evolving customer needs.

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• Top Gainers and Losers Today : The Sensex lost 36.22 points, or -0.05, to settle at 79996.6, while the Nifty lost 3.3 points, or -0.01, to close at 24323.85.

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• Chris Wood of Jefferies adjusted the Asia Pacific ex-Japan portfolio at the end of the quarter, increasing India’s weight while reducing China and Hong Kong’s. Greed and Fear’s long-only portfolios have shown strong performance, with the Asia ex-Japan portfolio delivering an annual return of 18.1%.

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• Stock Market Today: Hero MotoCorp Share price has risen more than 77% in a year and is trading near 52 week highs. Axis Securities expects more than 10% upside for the Stock that remains their weekly pick. Check for 4 Key reasons

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• Elevated gold prices hurt consumer demand during the Q1FY25 quarter, and when Q1FY25 results are announced, jewellery margins will be in focus.

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• Servotech Power Systems share price today opened with an upside gap and touched an intraday high of ₹97.43 apiece within a few hours of the opening bell

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• GRM Overseas share price today opened upside and touched an intraday high of ₹210 apiece on NSE

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• Paytm share price have been on a gaining spree since June this year. After four consecutive months of selloff, the stock rose over 11 per cent last month and in July so far, it has already clocked a gain of over 18 per cent.

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• Real estate stock Tarc has shown impressive long-term and recent growth, with a surge of 545% in 3 years. Ambit Capital predicts further upside, citing Tarc’s strategic advantages and growth potential, including prime land holdings and a focus on luxury housing development in the NCR region.

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• Despite soaring stock prices, insiders at these companies have steadily reduced their holdings.

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• Retail investors in India demonstrate strategic approach by increasing equity holdings during market corrections. Demat accounts surged from 36 million in March 2020 to 160 million in June 2024.

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• Flipkart-backed Zinka Logistics Solutions files draft IPO papers with SEBI

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• NSE features sectoral indices that track specific industry segments, aiding investors in monitoring sector performance and making targeted investment decisions to diversify their portfolios effectively.

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• Top picks for June quarter earnings season include Hindustan Unilever, Godrej Consumer, and Dabur in the FMCG space. MOFSL expects steady volume recovery and improved profitability metrics for its coverage universe in 1QFY25.

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• Multibagger stock Rushil Decor has declared stock split in 1:10 ratio

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• Geopolitical tensions and lower U.S. interest rates have increased gold’s appeal. Major central banks are diversifying reserves into gold. China and India are leading in gold purchases, impacting global financial dynamics.

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• Stock market today: Aani Wilmar shares today opened with an upside gap an touched an intraday high of ₹347 apiece on NSE

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• StoxBox reveals top seven stocks for investment, combining technical and fundamental analysis. Recommendations include HDFC AMC, One 97 Communications, Power Finance Corporation, Rural Electrification Corporation, Siemens, Sun TV Network, and Zomato.

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• Multibagger stock: Raymond share price has been buzzing with a 50% return since June, creating a buying opportunity. The demerger into Raymond Realty and the positive outlook on real estate and engineering businesses have led to a re-rating.

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• The market cap of IRFC has soared by ₹1,15,388 crore to ₹2,45,988 crore, while RVNL added ₹64,549 crore, bringing its market cap to ₹1,02,384 crore. Ircon saw an increase of ₹12,758 crore, reaching a market cap of ₹28,944 crore.

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• Pakistan Stock Exchange Fire: Trading activity has been temporarily suspended, according to the reports.

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• Following shares hit their 52 week low today – Brightcom Group, Bohra Industries, Praxis Home Retail, Mep Infrastructure Developers, Sel Manufacturing Company

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• Following shares hit their 52 week high today – Bharat Electronics, Zydus Lifesciences, CG Power & Industrial Solutions, Dr Reddys Laboratories, Trent

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• DOMS Industries share price gained after Axis Securities assigned a ‘Buy’ rating on the stock amid company’s promising future grounded in the robust and consistent performance over the past several quarters.

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• Stocks to buy: Investors await the Union Budget and Q1FY25 earnings. Experts recommend looking beyond 24,400-24,500 for near-term objectives in the market.

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• PC Jeweller’s shares hit a 10% upper circuit limit after Punjab National Bank approved a one-time settlement of outstanding dues. The company plans to settle dues with a consortium of banks through cash and equity components, release of securities, and revamping business operations.

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• Dividend Stocks: Coal India, GSFC, Oil and Natural Gas Corporation, Gujarat Narmada Valley Fertilizers & Chemicals Limited, PTC India, VST Industries, HCL Technologies, ITC , Power Grid Corporation of India, Infosys are top 10 dividend yield picks of Religare Stock Broking. Check Details

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• Stock market today: RVNL, Ircon International and IRFC share price touched a new peak during early morning deals on Monday

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• Gold And Silver Prices Today:Gold And Silver Prices Today : 10 gm of 24 carat gold was at Rs.74819.0 in Delhi whereas 1 kg of silver was Rs.90800.0 in Delhi.

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• Man Industries share price surged 10% to a 52-week high after securing a ₹1,850 crore order for pipes. Analysts expect positive momentum to continue with a target of 530–550, supported by recent bullish breakout.

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• Emcure Pharma IPO GMP: Shares of the pharma company are available at a premium of ₹392 in the grey market today, say market observers

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• Rupen Patel, Promoter/ Chairman & Managing Director of the Company on late hours of Friday, July 5, 2024, Patel Engineering informed in a regulatory filing on July 6.

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• Titan share price fell over 3% after its domestic jewellery operations disappointed with a growth of 8% YoY, impacted by weakness in consumer demand on account of a surge in gold prices and lower number of wedding days.

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• Stocks to buy or sell: Sumeet Bagadia has recommended buying these breakout stocks today — Shilpa Medicare, Marksans Pharma, Ahluwalia Contracts, Shalby, and BEPL

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• Bansal Wire IPO share allotment to be finalised on July 8. Robust response from investors with 59.57 times subscription status. Refund process for unallocated shares to start on July 9. Listing date set for July 10.

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• Stocks to buy today: Experts have recommended buying these five buy or sell stocks — Zydus Wellness, Voltamp, Coromandel International, Exide Industries, and IRCTC

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• Stock Market Today: The trends on Gift Nifty indicate a tepid start for the Indian benchmark index. The Gift Nifty was trading flat at around 24,385 level.

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• Indian stock market: Asian markets traded mixed, while the US stock market ended at record levels last week led by a rally in megacap tech stocks. Gift Nifty indicated a flat start for the Indian stock market indices.

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• The active futures contract witnessed open interest (OI)—outstanding positions—rising 9.43% as the stock slumped 4.57% to ₹1,648.10 on Friday, hurt largely by the quarterly business update a day earlier. A rise in OI accompanied by a fall in price indicates bearish sentiment.

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• Cutting direct taxes for the lower income strata and schemes towards rural upliftment should be the themes for the upcoming budget, Kaustubh Gupta, co-head, fixed income, Aditya Birla Sun Life AMC Ltd, said.

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• Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — HUL, Cipla, and IRCTC

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• The mismatch in credit and deposit growth has been plaguing the sector for a while now. Overall credit growth has been sustaining at around 16% year-on-year, aided by robust demand from the retail segment for housing, personal and consumption loans.

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• Aditya Birla Fashion, Bandhan Bank, GNFC, Hindustan Copper, India Cements, and Piramal Enterprises are the six stocks on the NSE’s F&O ban list for July 8

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