Indices Come Under Initial Pressure; Recover Later - Wednesday Closing Report
Moneylife Digital Team 10 July 2024
On Wednesday, 1363 stocks advanced, 2576 declined and 82 remained unchanged, on the Bombay Stock Exchange (BSE) with an advance decline ratio of 0.53, indicating negative closing of stocks in broader markets. The trend of the major indices on Wednesday’s trading is given in the table below. 
 
 
 
On NSE, 145 securities advanced and closed at a new 52-week high whereas 18 securities sank to close at their new 52-week lows. In sectoral indices, Nifty Pharma, Nifty FMCG and Nifty Energy among the biggest gainers. Nifty Auto, Nifty Media and Nifty Metal among the biggest losers.
 
Asian Paints - India’s largest paint manufacturer had reportedly hiked prices by up to a 1% across the portfolio and its competitor Berger Paints (+2.45%) also confirmed 0.7-1% price hike.
 
Rail Vikas Nigam (+13.42%) has emerged as the Lowest Bidder (L1) from for ‘design, supply, erection, testing & commissioning of 132 kv traction substation, sectioning post (sps), and sub sectioning post (ssps) in 2x25kv system on Kharagpur - Bhadrak section of Kharagpur division of South Eastern Railway to meet 3000MT.’ The cost of work is Rs 202.87 crore. The order is to be executed within 18 months. 
 
Tech Mahindra (-0.23%) has collaborated with Microsoft to modernize workplace experiences with Copilot for Microsoft 365 for their 1,200+ customers and an initial 10,000+ employees across 15 location.
 
Bajaj Finance (-0.20%) has raised Rs3,442.58 crore through the allotment of 3,42,020 Non-Convertible Debentures (NCDs), at face value of Rs 1 Lakh each, on private placement basis.
 
Spandana Sphoorty Financial (+1.43%) has raised Rs55 crore through allotment of 5,500 Listed, Rated, Senior, Secured, Transferable, Redeemable, Non-Convertible Debentures (NCDs) having face value of Rs1,00,000 each on private placement basis.
 
Oil and Natural Gas Corporation (ONGC) (+0.25%) planned to invest about Rs2 lakh crore in setting up renewable energy sites and green hydrogen plants and cutting gas flaring to zero to achieve its 2038 net-zero carbon emission goal.
 
Advait Infractech’s (+1.68%) subsidiary -- Advait Greenergy has received Letter of intents (LoIs) worth Rs72.69 crore from KPI Green Energy. Out of the total, the LoI worth Rs 59 crore is for 30 MW Solar Project at Khavda, Gujarat. The LoI worth Rs13.69 crore is for Engineering, Procurement, and Construction (EPC) Contract for 1 MV Green Hydrogen Plant at Matar.
 
BLS International Services (BLS) has completed the acquisition of 100% stake in iData Danismanlik Ve Hizmet Dis Ticaret Anonim Sirketi and its wholly owned subsidiaries (iDATA) for about Rs720 crore.
 
Lloyds Metals and Energy (LMEL) (-0.86%) successful raised of Rs1,218 crore through a Qualified Institutional Placement (QIP). The company allotted 1.75 crore shares via the QIP. JM Financial was the sole Book Running Lead Manager for the QIP. The QIP garnered interest from a diverse range of investors, including long-only funds, mutual funds, insurance companies, and other key stakeholders, reflecting their belief in LMEL's vision and growth potential.
 
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 
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