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Ujjivan Small Finance Bank Hits 52-Week High On Q1 BusinessShares of Ujjivan Small Finance Bank Ltd.'s hit a 52-week high on Thursday after its total deposits grew 44% year-on-year and 4% sequentially to Rs 26,655 crore in the quarter ended June.The first quarter saw advances increase by 5% sequentially and 31% annually to Rs 25,346 crore, according to the key business highlights for the April–June period.There has been a 22% increase in disbursements from the previous year to Rs 5,280 crore. Collection efficiency stood steady at 99% from April to June.Deposits in current account and savings account increased 27% year-on-year to Rs 6,550 crore and the CASA ratio stood at 24.6%.Shares of the company are trading 4.55% higher at Rs 42.50 as compared to a 0.29% advance in the NSE Nifty 50 as of 10.27 am. The stock reached its 52-week high of Rs 42.65.The total traded quantity so far in the day stood at 3.6 times the 30-day average volume. The stock's relative strength index stands at 78, indicating that the stock may be overbought.Out of the 16 analysts tracking the stock, all maintain a buy rating, according to Bloomberg data. The consensus price estimate indicates a 7.2% upside over the next 12 months.!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rKEC International Hits Record High After Winning New Orders Worth Rs 1,042 CroreShares of KEC International Ltd. rose to a new life-time high after it won new orders worth Rs 1,042 crore across various business verticals, such as railways, civil, cables, transmission, and distribution.In the railway business segment, the heavy electrical equipment maker has secured its maiden international order for a signalling and telecommunication project in the South Asian Association for Regional Cooperation region, according to an exchange filing on Wednesday.Its transmission and distribution business bagged orders to set up overhead transmission lines in the Middle East and supply towers in India, Europe, and the U.S.KEC's subsidiary, SAE Towers, secured an order to supply hardware and poles in the Americas. The engineering, procurement, and construction major further won an order in the metals and mining segment from a reputed steel player in India, according to the release."The railway business has successfully expanded its footprint internationally, leveraging the strong presence of our T&D business," said Vimal Kejriwal, chief executive officer at KEC International. "The civil business continues to strengthen its order book in the industrial segment with the addition of a very reputed client."Shares of KEC International Ltd. rose 3.39% to Rs 595 apiece as of 10:24 a.m., compared to a 0.25% advance in the NSE Nifty 50. The stock rose as much as 4.92% intraday to hit a record high at Rs 603.8 apiece.Total traded volume stood at 5.7 times its 30-day average. The relative strength index was at 68.7.Out of the 25 analysts tracking the company, 16 maintain a 'buy' rating, five recommend a 'hold' and four suggest to 'sell' the stock, as per the Bloomberg data. The average calculated from the 12-month price target given by analysts implies a potential downside of 3.3%Source: Bloomberg, Exchange filing!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rNifty 50 Hits Fresh Records!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rReliance Industries Shares Jump Over Rs 2,600 Apiece!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rEconomy Carried Momentum From FY23 To Current Fiscal: Finance Ministry Urban demand conditions remain resilient, while rural demand is recovering.Factors that can constrain the pace of growth include escalation of geopolitical stress, enhanced global financial volatility, sharp price correction in global stock markets, El-Nino impact, modest trade activity and FDI inflows owing to frail global demand.Source: Annual Economic Review, 2022-23, Department of Economic AffairsDCB Bank Shares Jump On RBI's Approval For Tata AMC To Raise Stake By 7.5% Shares of DCB Bank Ltd. surged the most in eight months after the Reserve Bank of India approved Tata Asset Management to hold 7.5% of the paid-up equity capital in the bank through the schemes of Tata Mutual Fund. The approval is valid for a period of one year from the date of the RBI letter. The central bank has also advised Tata Asset Management to ensure that the shareholding in the bank shall not exceed 7.5% of the paid-up equity capital of the bank at all times.Shares of DCB Bank Ltd. rose 5.25% to Rs 128.25 apiece as of 9:39 a.m., compared to a 0.02% advance in the NSE Nifty 50. The stock rose as much as 8.29% intraday, the most in over eight months since Nov. 4, 2022.Total traded volume stood at 43 times its 30-day average. The relative strength index was at 71, implying that the stock maybe overbought.Out of the 24 analysts tracking the company, 19 maintain a 'buy' rating, four recommend a 'hold' and one suggests to 'sell' the stock, as per the Bloomberg data. The average calculated from the 12-month price target given by analysts implies a potential upside of 11.6%Source: Bloomberg, Exchange filing!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rJSW Steel Says Crude Steel Production Declined 2% QoQJSW Steel's crude steel production declined 2% QoQ to 6.43 million tons in Q1 FY24.Source: Exchange filingNifty FMCG, Nifty Auto At Fresh Record Highs As of 9:25 a.m., Nifty Auto declined after jumping 0.17% to a record high at 15,307.30 points. Nifty FMCG, on the other hand, rose 0.36% in early trade to hit a record high of 53,971.25 points.Source: Bloomberg!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;r!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rBroader Markets OutperformThe broader market indices outperformed the larger peers; the S&P BSE MidCap Index was up 0.29%, whereas S&P BSE SmallCap Index was 0.44% higher. Fourteen out of the 20 sectors compiled by BSE advanced with S&P BSE Realty gaining the most. Six sectors declined. The market breadth was skewed in the favour of the buyers. About 1,704 stocks rose, 674 declined, while 112 remained unchanged on the BSE.Source: BSETop Movers On The Nifty 50 Index!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rSensex, Nifty Little Changed: Opening BellIndia's benchmark stock indices declined at opening bell on Thursday after a mixed close on Wednesday. Asian markets followed Wall Street lower after hawkish signals from the Federal Reserve’s latest meeting minutes damped investor sentiment.Equity benchmarks in Japan, Australia, South Korea and China fell. A decline for Tokyo’s Topix index placed the benchmark on course for a third straight drop, trimming its 20% rally this year. Hong Kong’s Hang Seng index traded as much as 1.4% lower.The S&P 500 declined 0.2% while the Nasdaq 100 fell less than 0.1%. Contracts for these gauges edged lower in early Asian trading as investors also looked ahead to U.S. jobs data over the next two days that will further illuminate the path for interest rates.Elsewhere in emerging markets, the central banks of Malaysia and Sri Lanka will hand down interest rate decisions Thursday.At pre-open, the S&P BSE Sensex Index was down 48 points or 0.07% at 65,398.19 while the NSE Nifty 50 Index was 13 points or 0.07% higher at 19,385.70.!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rPiramal Enterprises Has 2.6% Equity Change Hands In A Large Deal Piramal Enterprises had 2.6% equity or 61.1 lakh shares change hands in a large trade.The buyers and the sellers were not known immediately.Source: BloombergAuto June Retail Sales (YoY) Passenger vehicle sales rise 4.8% to 2.95 lakh units.Two-wheeler sales rise 6.8% to 13.10 lakh units.Commercial vehicle sales up 0.4% to 73,212 units. Three-wheeler sales grow 75.5% to 86,511 units. Tractors sales grow 41% to 98,660 units. Source: FADASensex, Nifty Decline In Pre-Open At pre-open, the S&P BSE Sensex Index was down 48 points or 0.07% at 65,398.19 while the NSE Nifty 50 Index was 13 points or 0.07% higher at 19,385.70.Source: BloombergYield On The 10-Year Bond Rises The yield on the 10-year bond opened 2 bps higher at 7.13% on Thursday. It closed at 7.11 on Wednesday.Source: BloombergRupee Weakens Against The U.S. Dollar The local currency weakened about 15 paise to open at 82.37 against the U.S dollar on Thursday.The local currency closed at 82.22 on Wednesday. Source: BloombergTrade Talk: HDFC Bank To Replace RIL As Top Heavyweight On Nifty 50 Eris Lifesciences Has 2% Equity Change Hands In A BunchEris Lifesciences had 2% equity or 27 million shares change hands in a bunch.The buyers and the sellers were not known immediately.Source: BloombergTrade Setup: Dealers Stay Constructive On Auto Ancillaries & Power Sector Global CuesU.S. Dollar Index at 103.3U.S. 10-year bond yield at 3.95%Brent crude up 0.17% at $76.78 per barrel Nymex crude up 0.32% at $72.02 per barrel GIFT Nifty down 0.13% or 25 points at 19,487.5 as of 8:04 a.m. Bitcoin up 0.10% at $30,500.91Asian Equities Slide as Fed Minutes Show Hike Bias: Markets WrapTrading Tweaks: Price Band Revised From 10% To 5%: Gensol EngineeringPrice Band Revised From 20% To 10%: Genus Power Infrastructures, HPL Electric & PowerEx-Date Dividend: Kalpataru Projects International, IDBI, Yasho IndustriesEx-Date Annual General Meeting: Oil Country Tubular, Vedanta, IDBIEx-Date Bonus: Sadhana Nitrochem, Bhansali Engineering PolymersRecord-Date Dividend: Kalpataru Projects InternationalMove Out Of Short-Term ASM Framework: Apollo Micro Systems, R Systems InternationalHDFC's F&O Contracts To Expire On July 12Insider TradesPrataap Snacks: Promoters Arun Kumar Mehta and Naveen Kumar Mehta sold 25,000 shares each on June 30. RBI's Draft Rules For Card Issuers May Let Customers Switch Card NetworksOfferings: Senco Gold IPOSenco Gold: The company launched its initial public offering on July 4. The jewellery retailer is looking to raise a total of Rs 405 crore, out of which Rs 270 crore will be raised through a fresh issue. The IPO was subscribed 2.68 times on day 2. The portion for non-institutional investors was subscribed 3.58 times, while the portion for retail investors was subscribed 3.67 times. Institutional investors subscribed 0.27 times, or 27%.JSW Steel To Replace HDFC On Sensex From July 13Stocks To Watch: Adani Wilmar, Adani Enterprises, Tata Power, JSW Steel, Marico, DCB Bank, Asian Paints In FocusAdani Wilmar: The company has estimated volume growth of 25% in the June quarter over the previous year, driven by strong demand in both food and edible oil categories. The sales value has declined, reflecting the sharp drop in edible oil prices. The Food & FMCG segment recorded volume growth of 20% and revenue growth of 30% to cross Rs 1,000 crore for the quarter on a standalone basis. The edible oil business grew 25% in volume terms and fell 15% in terms of value growth.Adani Enterprises: Adani Enterprises has fully repaid Rs 10 crore of commercial paper, which is unsecured, short-term debt. The flagship company of the Adani Group redeemed the commercial paper on July 5, which was the date of its maturity. There is no outstanding amount remaining, it said in an exchange filing.Tata Power: The company received a Rs 1,744 crore order to install and maintain 18.60 lakh metres in the Raipur area from Chhattisgarh State Power Distribution Company Ltd.JSW Steel: The company will replace HDFC in the S&P BSE Sensex from July 13 as the former will merge with HDFC Bank.JBM Auto Components: The company will replace HDFC in the BSE 500 index.Zomato: The online food delivery platform will replace HDFC in the BSE 100.Marico: The company’s Q1 performance was hampered by tapering price growth and weak volumes, particularly in India’s rural markets. The consolidated revenue declined to the low single digits on a year-on-year basis. Domestic volumes grew in the low single digits. The company expects the international business to report high single-digit constant currency growth during the quarter. Marico expects gross margins to expand materially on both a yearly and quarterly basis.DCB Bank: The Reserve Bank of India has approved Tata Asset Management to acquire an aggregate holding of up to 7.5% of the paid-up equity capital of the bank through the schemes of Tata Mutual Fund. The approval is valid for a period of one year from the date of the RBI letter. The central bank has also advised Tata Asset Management to ensure that the shareholding in the bank shall not exceed 7.5% of the paid-up equity capital of the bank at all times.Ujjivan Small Finance Bank: Total deposits grew 44% year-on-year and 4% sequentially to Rs 26,655 crore in April-June. CASA rose 27% year-on-year to Rs 6,550 crore, and the CASA ratio stood at 24.6%. Advances are up 31% year-on-year and 5% quarter-on-quarter to Rs 25,346 crore in the first quarter. Disbursement momentum continues to show strength, with 22% year-on-year growth to Rs 5,280 crore, the company said.Bajaj Electricals: Crisil Ratings has upgraded the long-term rating of the company’s bank loan facilities of Rs 2,100 crore to Crisil AA-/stable from Crisil A+.Prestige Estate Projects: The company and its unit, Prestige Exora Business Parks, have entered into a joint venture agreement with W.S. Industries (India) to develop IT or IT-enabled services or parks on a 6.53-acre property in Chennai. W.S. Industries proposed to implement the project through its unit, WS Insulators.Asian Paints: The company’s unit, Asian White Cement Holding, has been incorporated in the name of Asian White Inc. FZE in Fujairah Free Zone, UAE, on June 26, 2023, for the purpose of carrying out the business of manufacturing, trading, and exporting white cement.Life Insurance Corporation: The company’s shareholding in India Cement has diluted to 3.83% from 5.88% of the paid-up capital of the company. LIC has divested its stake in India Cement through an open market sale at an average price of Rs 191.59.Solara Active Pharma: The company has agreed to raise funds through the issue of equity shares of a face value of Rs 10 not exceeding Rs 450 crore by way of rights issue to eligible equity shareholders of the company.Tata Motors: ICRA has upgraded its long-term credit rating to ICRA AA/Stable from ICRA AA-/Positive.Fed Minutes Reveal Divisions Over Decision To Pause In JuneGIFT Nifty Signals Lower Open For BenchmarksAsian markets followed Wall Street lower after hawkish signals from the Federal Reserve’s latest meeting minutes damped investor sentiment.Equity benchmarks in Japan, Australia, South Korea and China fell. A decline for Tokyo’s Topix index placed the benchmark on course for a third straight drop, trimming its 20% rally this year. Hong Kong’s Hang Seng index traded as much as 1.4% lower.The S&P 500 declined 0.2% while the Nasdaq 100 fell less than 0.1%. Contracts for these gauges edged lower in early Asian trading as investors also looked ahead to U.S. jobs data over the next two days that will further illuminate the path for interest rates. Elsewhere in emerging markets, the central banks of Malaysia and Sri Lanka will hand down interest rate decisions Thursday.Brent crude was above $76 a barrel and West Texas Intermediate was trading above to $72 mark. The yield on the 10-year U.S. bond was trading at 3.95%, whereas Bitcoin was above the $30,000 level.At 8:04 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India, was down 0.13% or 25 points at 19,487.5.India's benchmark stock indices were mixed after a volatile session on Wednesday. The headline indices snapped five days of record gains as non-banking financial companies and private banks declined while fast-moving consumer goods and auto sectors rose. The S&P BSE Sensex Index closed down 33 points, or 0.05%, at 65,446.04, while the NSE Nifty 50 Index was 10 points, or 0.05%, higher at 19,398.50. The local currency weakened 20 paise to close at 82.22 against the U.S. dollar on Wednesday.Overseas investors in Indian equities remained net buyers for the sixth day in a row on Wednesday. Foreign portfolio investors mopped up stocks worth Rs 1,603.15 crore, while domestic institutional investors remained net sellers and offloaded equities worth Rs 439.01 crore, the NSE data showed.Stock Market Today: All You Need To Know Going Into Trade On July 6 . Read more on Markets by BloombergQuint.
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