Major Indices Continue to Drift Higher on Fund Flows: Tuesday Closing Report
Moneylife Digital Team 09 July 2024
On Tuesday, 2011 stocks advanced, 1922 declined and 93 remained unchanged, on the Bombay Stock Exchange (BSE) with an advance decline ratio of 1.04, indicating positive closing of stocks in broader markets. The trend of the major indices on Tuesday’s trading is given in the table below. 
 
 
On NSE, 179 securities advanced and closed at a new 52-week high whereas 16 securities sank to close at their new 52-week lows. In sectoral indices, Nifty Auto , Nifty FMCG and Nifty PSU Bank were among the biggest gainers. Nifty IT and Nifty Energy were among the biggest losers. 
 
Maruti Suzuki shares gained over 6% after the announcement by the government of Uttar Pradesh is offering a 100% waiver on registration fees for strong hybrid electric vehicles and plug-in hybrid electric vehicles. This is a positive development for the largest automaker, which offers models like Grand Vitara and Invicto in the hybrid car segment. 
 
Inox Wind (IWL) (+1.55%) has bagged an order for 200 MW from a renewable C&I power producer. The order is for IWL’s latest 3 MW Wind Turbine Generators (WTGs) and the scope comprises of end-to-end turnkey execution. Additionally, Inox Wind will provide post commissioning multi-year operations & maintenance (O&M) services. The project will be executed across the states of Gujarat and Rajasthan.
 
HFCL B.V., a wholly owned subsidiary of HFCL in the Netherlands, has incorporated a wholly owned subsidiary company namely HFCL UK in the UK. Consequently, HFCL UK has also become a step-down wholly owned subsidiary of the company.
 
Larsen & Toubro’s (L&T) (+0.93%) wholly owned subsidiary -- L&T Semiconductor Technologies (LTSCT) entered into a share purchase agreement for acquisition of 100% stake in SiliConch Systems (SiliConch).
 
RateGain Travel Technologies (+1.52%) has been selected for a multi-year partnership by Malaysia Airlines Berhad (Malaysia Airlines), the national flag carrier of Malaysia. This strategic collaboration will see Malaysia Airlines leveraging RateGain’s advanced AirGain platform to boost its competitive edge through superior pricing intelligence capabilities.
 
Alembic Pharmaceuticals (-1.00%) received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Bromfenac Ophthalmic Solution, 0.07%. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), Prolensa Ophthalmic Solution, 0.07%, of Bausch & Lomb Incorporated (Bausch). 
 
Sanghi Industries (+1.97%) raised Rs500 crore through the allotment of 50,00,00,000 8% Non-convertible Cumulative Redeemable Preference Shares (RPS) of face value of Rs10 each at par on private placement basis to Ambuja Cements (Holding Company).
 
US-based BlackRock through its three affiliates has acquired 45.56 lakh shares, amounting to a 1.45% stake in Swan Energy (+5%). The shares were picked up at an average price of Rs668.27 apiece, taking the combined deal size to Rs304.50 crore. 
 
Mahindra & Mahindra’s (+2.41%) subsidiary -- Mahindra Last Mile Mobility (MLMML) has entered into strategic partnership with Ecofy, India’s green-only NBFC backed by Eversource Capital, committed to financing India’s green transition.
 
 
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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