Latest Stock Market News

A total of 1,317,349 shares changed hands on the counter till time (IST).

Sebi introduces a unit-based employee benefit scheme for REITs and InvITs, allowing managers to grant unit options to employees. The rules, effective from July 12, aim to provide benefits without additional costs to the trusts. The scheme requires disclosure and follows insider trading rules.

HDFC Life Insurance Company reports a strong Q1FY25 with a 15% YoY growth in net profit. Brokerages maintain buy ratings with target prices ranging from Rs 765 to Rs 819. The company faces challenges but remains optimistic about future growth.

The scheme is benchmarked against Nifty India Defence - TRI, which provided a return of 146.17% in the last nine months. Over the past three and six months, the scheme delivered returns of 60.66% and 87.04%, respectively. In the last one year, the scheme has achieved a return of 187.42%.

Stock markets will be closed on July 17 for Muharram. BSE and MCX to observe the holiday.

In Q2 2024, Mukul Agarwal added Lux Industries, while trimming stakes in Indian Metals & Ferro Alloys, Ethos, and Apollo Pipes. He increased positions in Hind Rectifiers and ISMT. Lux Industries saw 52% returns. Hind Rectifiers and ISMT yielded 147% and 95% annual returns. His diversified portfolio, including Radico Khaitan and Ceat, is valued at Rs 5,825.3 crore by Trendlyne.

Sahaj Solar finalizes IPO allotment soon. Check status on Link Bigshare via Kfin Technologies. Shares premium Rs 240, suggesting 90% gains. The Rs 52 crore IPO at Rs 180 was subscribed 472 times, selling 29.2 lakh shares. Funds for public offer. Sahaj Solar offers PV module manufacturing, pumping systems, EPC services in renewable power. Kunvarji Finstock is the lead manager.

“When government spending on capex was raised from 1.5% of GDP to over 3% of GDP, that provided a positive impulse to growth. It cannot continue with that kind of growth rate anymore and will flatten out. So, it will be around 15% for capex growth against the budgeted number of 17% YOY.”

The pan-European STOXX 600 was down 0.4%, as of 0718 GMT. The basic resources sub-index led sectoral declines with a 1.2% fall as it tracked easing copper prices

I think what we just mentioned, what we just discussed, that infra and realty stocks would be the best bet pre-budget as well as post-budget because that is where most focus is going to be and so infrastructure is the leading sector as of now.