GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a negative opening on Wednesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded down by 40 points or 0.16% at 24,450 indicating a negative opening for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Tuesday, the NSE Nifty 50 ended up by 112.65 points or 0.46% to settle at 24,433.20 while the BSE Sensex gains 391.26 points or 0.49% to 80,351.64.
“Both domestic and global factors continue to drive the market momentum. Currently, consumption sectors like FMCG and auto are leading the gains, buoyed by progress in the monsoon and kharif sowing. Investors are eagerly awaiting the first-quarter earnings results, which will guide market direction,” said Vinod Nair, Head of Research, Geojit Financial Services.
Stocks To Watch: Nykaa, Ambuja Cement, Adani Power, Wipro, Bharti Airtel, Jain Irrigation Stocks To Watch: Zomato, Reliance Industries, L&T, Ola Electric, Cyient DLM, Petronet LNG, Genus Power Stocks To Watch: Eicher Motors, LIC, Cochin Shipyard, Biocon, Oil India, SJVN, Grasim, Alkem Lab, OLA Electric Mobility Stocks To Watch: Hindalco, Godrej Consumer Product, Apollo Tyres, Radico Khaitan, NHPC, Maruti Suzuki, Eicher Motors, LIC
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Nair also The IT sector, with optimistic revenue growth expectations, is expected to positively kickstart the season. Additionally, continuous positive FII inflow contributes to the prevailing positive sentiment.
Stocks to Watch on July 10, 2024
Wipro
The IT major has resolved a lawsuit filed by Wipro Ltd against its former chief financial officer, Jatin Dalal. According to a US SEC filing dated July 2, 2024, Cognizant’s board of directors approved a payment of $505,087 to cover the settlement and legal fees related to the dispute.
ONGC
The state-owned firm has announced plans to invest approximately Rs 2 lakh crore to establish renewable energy sites and green hydrogen plants, aiming to achieve its net-zero carbon emission goal by 2038. As part of this initiative, the company will invest Rs 97,000 crore by 2030 to develop 5 gigawatts of renewable energy capacity, green hydrogen, biogas, pump storage plants, and offshore wind projects.
RVNL
The state-owned firm has emerged as the lowest bidder for a project valued at ₹202.87 crore from the South Eastern Railway. The project entails the design, supply, erection, testing, and commissioning of a 132 KV traction substation, sectioning posts, and sub-sectioning posts in a 2x25KV system on the Kharagpur-Bhadrak section of the Kharagpur division.
Reliance Industries
The company has introduced the JioTag Air, the successor to last year’s JioTag. This new asset tracker is designed to help users locate and track valuables such as keys, ID cards, wallets, purses, luggage, and even pets.
Mahindra & Mahindra
On Tuesday, the company announced a special celebratory ex-showroom price for the AX7 range, available for four months. This pricing aligns with the upcoming three-year anniversary of the XUV700 in the market. Additionally, the SUV recently reached a milestone with the production of 200,000 units in less than three years.
Delta Corp
An online gaming firm reported a 68.04% year-on-year decline in net profit, amounting to Rs 21.7 crore for the first quarter ending June 30, 2024. This is a significant drop from the Rs 67.9 crore net profit posted in the same period last year. Additionally, the company’s revenue from operations fell by 30.3% to Rs 180.7 crore, compared to Rs 259.3 crore in the corresponding period of the previous fiscal year.
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Delhivery
The Canada Pension Plan Investment Board is expected to sell its entire 3.18% stake in a logistics firm through block deals. The block issue is valued at Rs 886 crore, with an offer price range set between Rs 378 to Rs 389 per share, representing a discount of 0.7% to 3.5% compared to the current market price (CMP).
Infosys
An IT company has announced a strategic five-year collaboration with Sector Alarm to transform its core enterprise business systems to the cloud. Infosys will work closely with Sector Alarm to migrate its disparate, on-premises Enterprise Resource Planning platform onto Microsoft Dynamics 365 Finance and Operations (F&O).
Bansal Wire Industries
Bansal Wire Industries is set for a strong debut on July 10 following robust demand from market participants across all categories. Priced at Rs 256 per share, the stock is anticipated to list at a premium of around 30%, potentially opening at approximately Rs 330-340 per share.
Emcure Pharma
Emcure Pharmaceuticals is expected to make a strong stock market debut on July 10, according to trends observed in the grey market. The stock is commanding a premium of Rs 340 in the grey market, indicating potential gains of approximately 33.73%.
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Indian equity indices closed on a flat note on Monday. The Nifty 50 closed 3.30 points or 0.01% lower, than its previous close, at 24,320.55. Similarly, the BSE Sensex closed 36.22 points or 0.05% lower, than the previous close, at 79,960.38. Divi’s Laboratories, Titan, BPCL, Shriram Finance, and Adani Ports were the major losers in the Nifty 50 on Monday.
Sectoral Index
Bank Nifty fell 234.55 points or 0.45% to end the session at 52,425.80. Outperforming the overall market, Nifty Midcap 100 fell 201.25 points or 0.35% closing the day’s trading at 56,888.20. In the broader markets, smallcap and midcap stocks closed in the red.
Sectoral draggers
Among the sectoral indices, Nifty PSU Banks and Consumer Durables weighed on the markets. However, the Nifty FMCG bucked the trend.
Will Nifty hold 24,000 on Wednesday or fall further? See GIFT Nifty, FII data, F&O, crude, and…
Rising global crude oil prices are a cause of concern and anxiety for India, said oil secretary Pankaj Jain on Wednesday.
“Whenever prices go up, it does cause anxiety, cause concern. Does it stop at $90 per barrel? That’s the matter of anxiety,” Jain said.
The secretary’s comments come on the backdrop of oil prices having risen to $89 per barrel on Wednesday due to rising geopolitical tensions in the Middle East and between Russia and Ukraine.
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In order to streamline business operations for Foreign Portfolio Investors (FPIs), the Securities and Exchange Board of India (SEBI) on Friday gave its approval to a series of proposals to ease regulatory requirements. These measures, designed to enhance efficiency and flexibility for FPIs, encompass exemptions in disclosure requirements, relaxed timelines for documentation, and provisions for dealing with securities post-expiry of registration.
Additional Disclosure Requirements Exempted for Certain FPIs
One significant decision by the SEBI Board involves exempting additional disclosure requirements for FPIs holding more than 50% of their India equity Assets Under Management (AUM) in a single corporate group. This exemption applies specifically if the concentrated holdings of these FPIs are in a listed company with no identified promoter, provided certain conditions are met.
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The Securities and Exchange Board of India (Sebi) has proposed to ease disclosures on environmental, social and governance (ESG) applicable to listed companies. It has proposed to mandate disclosures on ESG metrics for only those value chain partners, encompassing both downstream and upstream partners, who individually comprise 2% or more of the listed company’s purchase or sales by value, according to a consultation paper on Sebi’s website, inviting public comments by June 12.
Currently, top 250 listed companies as per market value have to give ESG-related disclosures for its value chain partners cumulatively comprising 75% of the purchases or sales, under the Business Responsibility and Sustainability Reporting (BRSR) Core framework.Come from Sports betting site VPbet
Sebi has also proposed an alternative where the new norm of 2% will be applicable along with the current directive…
Fishing is one of the five main skills in Stardew Valley and an excellent way to make some money. However, the fishing minigame involves a bit of skill and the type of fish you can catch changes each season. Combine that with a few different fishing locations, bait, and tackle, and the fishing can become a bit overwhelming. Here’s everything you need to know about fishing.
How to fish
Using a fishing rod, you can cast it into a body of water by holding the action button to determine cast strength. Once the bobber is in the water, you need to hit the action button again when an exclamation point appears, which will hook your catch. If it was a fish biting your line, this will start the fishing minigame.
The fishing minigame puts a fish icon on a large bar, moving sporadically up and down the bar. You need to keep your green bar on the fish to reel it in, feathering the action button to keep it in the same place. The best technique is to…
The Nintendo Switch eShop has kicked off a huge new sale with a wide variety of games discounted to great prices. The main promotion focuses on multiplayer games, but you can also shop deals from big developers such as Capcom, Bandai Namco, EA, and SegaCome from Sports betting site VPbet. With nice discounts on Doom Eternal, Hyrule Warriors: Age of Calamity, Lego Star Wars: The Skywalker Saga.
Hyrule Warriors: Age of Calamity is now listed for just $42, down from $60. This is one of the better deals we’ve seen for the first-party title since it launched in 2020, making it a great time to check out the musou action. It’s also playable in co-op, with a friend joining you on the battlefield to slay legions of Bokoblins and Lynels. In addition to Age of Calamity, you can get Hyrule Warriors: Definitive Edi…
Edgewater Casino Resort in Nevada unveiled a new two-day bingo event set to take place in November. The $200,000 River Bingo Bash will, according to the property, take bingoing to the next level.
The two-day event will begin on Saturday, November 23 and will conclude on Sunday, November 24. It will offer players a shot at a prize pool of $100,000 on each of the two days, while also providing guests with a weekend filled with food, gifts and entertainment.
The event is set to take place at the famed Edge Pavilion at Edgewater. Each of the two days will begin with ten warm-up games where winners will get $500. Following the warm-up, players will compete for what Edgewater described as “massive payouts” in the main event.
After the final session, Edgewater will host an afterparty event at the Edgewater Bingo Room. There, players will get chances to win free bingo and slot play, coverall prize game…
Brazil’s Finance Ministry is positioned to potentially generate up to R$3.4 billion (approximately US$ 620 million) this year through the regulation of online gambling. This revenue projection hinges on the approval of the authorization requests received during the initial licensing phase, as indicated by the Ministry of Finance. Regis Dudena, the head of the Secretary of Prizes and Betting (SPA), in a conversation with Estadão/Broadcast, noted that not all companies might meet the stringent requirements to operate within Brazil.
Revenue projections and regulatory challenges:
The SPA has processed 113 requests for authorization from various betting operators, termed as ‘Bets’ in Brazil. According to Games Magazine Brazil, the potential revenue of R$3.4 billion represents the upper limit of what could be realized if all these operators meet the …
One of the payment options that is readily available in the United States for online sports betting and casino accounts, is PayNearMe. The payment service is offered via 7-Eleven stores and CVS, allowing players to pay with cash to deposit funds into their iGaming accounts. Just this week, PayNearMe announced that it has spread its services to Walgreens locations, providing even more options for online gamers.
Available at Nearly 9,000 Locations
With the launch, players across the United States can walk into a local Walgreens and utilize PayNearMe for sports betting and online casino gaming. As online gambling continues to expand across the nation, the services give players more opportunities to utilize cash for deposits in a safe and secure way.
Hot on the heels of its latest content agreement and gambling technology giant Playtech plc (LSE:PTEC) has now inked a wide-reaching deal that will see its casino and live casino software launch across online gaming operator ComeOn Group’s entire brand portfolio.
Under the new multi-year partnership, the Malta-headquartered iGaming operator’s flagship brands ComeOn!, Sunmaker, Snabbare, and Mobilebet, along with the rest of its brands, will roll out Playtech’s content in multiple markets.
Key markets:
“We are very proud that ComeOn Group has chosen to partner with Playtech. ComeOn is at the forefront of innovation and having the opportunity to work alongside them in multiple markets is hugely exciting for us, stated Shimon Akad, Chief Operating Officer for Playtech.
The COO went on to explain that Playtech will continue to focus on growth in both existing and newly regulated markets, while its “core strateg…