Latest Market News Today Live Updates July 1, 2024: Star Health firm on profitability path amid rising competition

• The challenge for Star Health could be in terms of innovative products launched by competitors
• LIC has already expressed its intention of entering the health insurance business.

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• Stanley Lifestyle shares hit a record high of ₹517.20 during Monday’s trading session after a Morgan Stanley subsidiary picked up a stake in the luxury furniture maker.

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• Axis Securities initiates coverage on Inox Wind with a ‘buy’ rating and a target price of ₹185, citing potential upside of 31%. It says the company is well-positioned to benefit from India’s wind sector expansion with a strengthened balance sheet and a robust order book.

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• Top Gainers and Losers Today : The Sensex gained 443.46 points, or 0.56, to settle at 79032.73, while the Nifty gained 131.35 points, or 0.55, to close at 24010.6.

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• Stock market today: Nifty 50, Sensex end higher; mid, smallcaps outperform; investors earn about ₹4 lakh crore in a day

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• Allied Blenders IPO GMP: The grey market is signaling that Allied Blenders IPO listing price would be around ₹328, say market observers

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• Mukul Agrawal portfolio company delivered strong Q4 results in 2024, and the market is expecting another set of strong quarterly numbers in the upcoming Q1 results 2024 season, say experts

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• HDFC Bank’s weight in the MSCI EM Index is approximately 3.8%. If FIIs reduce their holding from 55.50% to below 55%, there could be a significant weight change from 3.8% to 7.2% to 7.5%, potentially leading to inflows of $3.2 billion to $4 billion, Nuvama said.

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• Niva Bupa IPO: Niva Bupa, formerly known as Max Bupa, has announced plans to go public by filing a DRHP with SEBI as the insurance company aims to raise ₹3,000 crore through an IPO and an OFS.

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• Union Budget 2024: The study, tracking market performance ahead and after Union Budget announcements since 2000, found the event had no lasting effect on stock performances, and was hence, not the most impactful indicator to track when choosing investments.

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• Nifty IT index surged 2.6% to 37,093 points in intraday trade, hitting nearly a 4-month high. All 10 constituents are trading positively, with Persistent Systems leading at 5.6% gain.

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• M&M share price has nearly doubled investors’ money over the past year, driven by robust business momentum across various segments, particularly growth in SUVs and successful new launches.

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• JK Tyre share price surged over 5 per cent in intraday trade on NSE, continuing strong buying interest for the second consecutive session. Experts are positive on the stock, with Emkay Global Financial Services giving a buy call and target price of ₹700, implying nearly 63 per cent upside potential.

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• The Yamuna Syndicate Ltd has the second-most expensive stock in India after MRF, and has delivered a 356% return in the past year. But investing in it comes with plenty of risk, including low liquidity, which leaves its stock price vulnerable to wild swings in either direction.

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• Sebi approved revised criteria for single stock derivatives, regulated entities associating with finfluencers, and delisting . Experts said the changes would ensure market stability and investor protection.

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• In June, IT stocks ended a three-month bearish streak with a strong performance, boosting investor confidence and frontline indices. The Nifty IT index saw an impressive gain of 11.65%, marking one of its largest monthly increases. All ten index constituents ended the month in positive territory.

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• Indian equity markets ended June on a strong note, surpassing previous highs and analysts’ estimates. Despite global concerns, investors remain optimistic due to India’s strong fundamentals.

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• Stock Market Today; Multibagger JSW Infrastructure share price gained more than 9% to all-time high on Monday during intraday trades. The stock remains in news on having secured large order from Southern Railway, Chennai Division, for Construction & Operation of Gati Shakti MultiModal Cargo Terminal

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• Sylvan Plyboard share listing: The SME IPO listed on the NSE at ₹66 apiece, which is ₹11 higher than the issue price of ₹55 per equity share

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• Visaman Global had a flat market debut on NSE SME with shares listed at ₹45.10 apiece, a 5% premium over the issue price. The SME IPO, valued at ₹16.05 crore, saw healthy subscription of 42 times, mainly from retail investors.

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• Grasim share price has gained over 18% in the past three months and more than 26% year-to-date (YTD). Grasim shares have delivered over 56% returns in one year.

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• Godrej Properties Ltd. (GPL) share price hit its 52-week high of ₹3,290 on July 1, 2024, reflecting strong market confidence in the company. Despite a slight decline to ₹3,191.15 later in the day, GPL continues to attract significant investor interest.

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• Following shares hit their 52 week low today – Oriental Carbon & Chemicals, Bohra Industries, Suumaya Industries, Hilton Metal Forging, Secur Credentials

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• Following shares hit their 52 week high today – Indus Towers, Tech Mahindra, Info Edge India, ICICI Lombard General Insurance Company, Grasim Industries

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• Expert view: Mahavir Lunawat, the founder and managing director of Pantomath Financial Services Group, believes the IPO market will experience a stronger pull after the Budget. In an interview with Mint, Lunawat shares his views on why retail investors are bullish on the IPOs.

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• Gold prices have outshined frontline Indian stock market indcies due to three major reasons: Iran-Israel tension, rising gold reserves of Chinese and other central banks, and erconomic uncertainty in the US and European countries, say experts

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• Mason Infratech shares were listed at ₹88.00 apiece on NSE SME, a premium of 37.5% to the issue price of ₹64 per share.

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• Shivalic Power Control share price listed with a stellar 211% premium at ₹311 on the NSE SME on Monday. The Initial Public offer that opened for subscription on Monday 24 June, 2024, closed on Wednesday 26 June’2024, received a strong response being subscribed more than 257 times

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• Signature Global witnessed a 6% increase in shares, reaching ₹1,469, following the successful launch of Titanium SPR project in Gurugram. The project garnered strong sales of over ₹2700 crore and is part of a 17 million sq. ft. land parcel in Sector 71.

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• Stocks to buy: Indian stock market benchmark Nifty 50 surged over 2% last week, driven by key heavyweights like Reliance Industries and HDFC Bank. Axis Securities expects Nifty 50 to trade in the range of 24,600-23,600 with a positive bias.

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• In this year’s bull market, there are artificial-intelligence plays like Nvidia—and then there’s everything else.

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• Vraj Iron and Steel IPO allotment status can be checked online through the website of BSE and on the official portal of IPO registrar. Bigshare Services Pvt Ltd is the Vraj Iron and Steel IPO registrar.

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• Stocks to buy or sell: Sumeet Bagadia has recommended buying these five breakout stocks today: Indian Terrain Fashions, Vardhman Holdings, OCCL, ADSL, and Mahindra Logistics

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• Manish Sonthalia, director and chief investment officer, Emkay Investment Managers, says he is bullish on public sector undertakings with monopolistic characteristics that are attractively valued relative to their earnings growth potential, and BFSI, especially the insurance sector.

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• Stocks to buy today: Experts have recommended buying these five buy-or-sell stocks: Garware Hi-Tech, Grasim Industries, IGL, Canara Bank, and RCF

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• The quest for market share gains has meant large cement companies with strong balance sheets continue to acquire smaller and financially weaker ones.

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• The trends on Gift Nifty also indicate a flat start for the Indian benchmark index. The Gift Nifty was trading around 24,135 level, near to Nifty futures’ previous close.

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• Indian stock market: Gift Nifty was trading around 24,135 level, indicating a flat start for the Indian stock market indices.

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• FIIs made the highest net equity investment in the industrials sector at $723 million in May, followed by $240 million in consumer durables and $162 million in realty, according to NSDL data.

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• Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — Balkrishna Industries, SAIL, and KPIT Technologies

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• The 30-scrip bluechip index logged its best gains in six months since December 2023 driven by political continuity and renewed inflow of foreign funds.

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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 mentioned securities crossed 95% of the market-wide position limit.

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