AXY Financial News

Nuvama Alternative & Quantitative Research. Since HDFC will cease to be part of both Nifty50 and Sensex from July 13, Nifty50 will see the inclusion of LTIMindtree and Nifty Next 50 will see the entry of Jindal Steel after the exit of LTIMindtree from it. Sensex will see the addition of JSW Steel into it.

Punjab National Bank(up 1.82 per cent), IDFCBANK(up 1.63 per cent), State Bank of India(up 0.95 per cent), Kotak Mahindra Bank(up 0.82 per cent) and Bank of Baroda(up 0.71 per cent) were among the top gainers. AU Small Finance Bank(down 0.48 per cent), Bandhan Bank(down 0.47 per cent), Axis Bank(down 0.39 per cent), ICICI Bank(down 0.12 per cent) and IndusInd Bank(down 0.03 per cent) were the top losers on the index.

Future Enterprises has received resolution plans from Jindal (India) Ltd, Reliance Retail Ventures and GBTL Ltd under the corporate insolvency process, according to disclosures made by the company to the stock exchange. The National Company Law Tribunal admitted Kishore Biyani’s Future Enterprises for corporate insolvency on February 27. The newly appointed resolution professional Avil Menezes disclosed the names of these three entities as a 'provisional list of prospective resolution applicants'.

₹966.25 and closed at ₹964.1. The highest price reached during the day was ₹971.7, while the lowest price was ₹950.7.

₹44,999 and will be available from July 21 on Flipkart and select other retail outlets.  The Phone (2) delivers many serious upgrades from its predecessor in terms of battery life, day-to-day performance and cameras. The Phone (2) ditches the Snapdragon 778G processor in favour of the more powerful Snapdragon 8+ Gen 1 processor paired with Adreno 730 GPU.

Mumbai: Traders and hedgers on HDFC have been warned by their brokers to exit all their derivatives positions in the mortgage financier by July 12 or face compulsory delivery in the underlying HDFC stocks .   This is pursuant to the merger of HDFC with HDFC Bank taking effect from 1 July and the bank and HDFC fixing 13 July as the record date for ascertaining the shareholders of HDFC who will be eligible to receive shares of the merged HDFC Bank.  The warning by brokers comes after National Stock Exchange (NSE) in a circular dated 5 July said that all futures and options (F&O) contracts associated with Housing Development Finance Corporation Ltd (HDFC) would expire on July 12.  “All existing monthly and weekly contracts in the underlying HDFC contracts with expiry dates post July 12,2023, shall expire on July 12, 2023," according to NSE statement.  HDFC will cease to exist from 13 July and will be replaced by LTI Mindtree on the Nifty 50 benchmark index.   The settlement price for the F&O contracts will be the settlement price of security HDFC in the Capital Market segment on July 12.

₹400 crore Qualified Institutional Placement (QIP) on late Tuesday evening, a person with knowledge of the development said. The company has allowed for a ₹100 crore allotment for oversubscription, which could take the total deal size to over ₹500 crore. The QIP is being managed by Axis Capital and ICICI Securities, the person cited above said, asking to be anonymous.

Nothing unveiled its second-generation flagship smartphone from its ecosystem. Claiming to be one of the most highly-anticipated products of the year, the company revealed the futuristic look, unique design and additional features of Nothing Phone (2). The pre-order pass holders also get access to limited-period special offers. Users will get an instant discount of Rs 3000 on Axis and HDFC debit and credit cards. Get Phone (2) case at Rs 499, screen protector at Rs 399, power (45W) adaptor at Rs 1,499, Ear (stick) at Rs 4,250 and Ear (2) at Rs 8,999. The device will go on sale in India on July 21 at 12 PM via its e-commerce partner Flipkart.

The NSE Nifty index closed 83.5 points up at 19439.4, while BSE Sensex ended up 273.67 points at 65617.84.

offer for sale (OFS) of up to 57,260,001 shares. The National Stock Exchange of India Ltd, IDBI Bank, State Bank of India, HDFC Bank, Union Bank of India and the Administrator of the Specified Undertaking of the Unit Trust of India have announced to participate in the OFS. State Bank of India (SBI) and private lender HDFC Bank had earlier said that they propose to sell 2% stake each in NSDL by offloading 40 lakh shares each in the OFS.

Manipur police stated at least 10 bunkers were destroyed in last 24 hours. The police in a statement on Monday stated Situation is tense in some places with sporadic incident of firing and congregation of unruly mob during the last 24 hours. However, situation is normal in most districts.

HDFC twins making HDFC Bank stock much more muscular, India's largest private sector lender will now command more weightage in Nifty than billionaire Mukesh Ambani's Reliance Industries (RIL). With effect from July 13, when HDFC shares stop trading on stock exchanges following a reverse merger with its banking unit, the weightage of HDFC Bank will increase to 14.43%.

«Now, to a large extent all of that holds good even now, nothing much has changed. It is just that valuations have increased quite rapidly,» says Venugopal Garre, MD, Bernstein.We have seen quite a bit of rally from March lows, almost a double-digit rally in Nifty already. Do you see it trending higher or a bit of consolidation is on the cards?Broadly if I look at the way we have been looking at the market, we sort of upgraded the equity view in the first week of April, perhaps that was a time when the market was closer to 17,000 Nifty.

Buy or sell stocks for today: After trading range-bound for the entire Monday session, Indian stock market ended mixed as Nifty and Sensex finished with some marginal gains while Bank Nifty closed lower. NSE Nifty ended 24 points higher at 19,355 while BSE Sensex closed 63 points higher at 65,344 levels.

Mumbai bench of the National Company Law Tribunal (NCLT) has reserved its order on the merger scheme between Zee Entertainment Enterprises (ZEE) and Culver Max Entertainment (Sony). The division bench of judicial member HV Subba Rao and technical member Madhu Sinha, while reserving the order on the scheme matter, allowed parties to file their written submissions.

Reliance Industries. The 30-share BSE benchmark Sensex rose 64 points or 0.10% to settle at 65,344. The broader NSE Nifty surged 24 points or 0.12% to end at 19,356.

Punjab National Bank(up 1.16 per cent), State Bank of India(up 0.51 per cent), Axis Bank(up 0.45 per cent), Kotak Mahindra Bank(up 0.42 per cent) and ICICI Bank(up 0.42 per cent) were among the top gainers. Bandhan Bank(down 0.96 per cent), Bank of Baroda(down 0.77 per cent), Federal Bank(down 0.67 per cent), IndusInd Bank(down 0.31 per cent) and IDFCBANK(down 0.25 per cent) were the top losers on the index.

Cyient DLM IPO: Shares of Cyient DLM Ltd listed on the bourses at a premium on Monday. On the NSE, the stock was listed at ₹403 per share, 52.1 percent higher than the issue price, and on the BSE, the stock was listed at ₹401 per share.

Reliance and HDFC twins, ahead of the corporate earnings for the June quarter. The BSE Sensex was trading 217 points or 0.33% higher at 65,482 while Nifty50 was trading at 19,396, up 64 points or 0.33% at around 9.18 am.

“We expect the Nifty50 earnings growth for FY24 and FY25 to be close to 15%, and thus, it appears that there is some room for the markets to generate decent returns over the next few years,” says Nishit Master, Portfolio Manager, Axis Securities PMS. In an interview with ETMarkets, Master said: “We believe sectors like NBFCs, Capital Goods, Consumer Discretionary and Auto would outperform the broader markets in 2H2023 as we expect their growth momentum to either improve or remain strong in the coming quarters” Edited excerpts: What is your call on markets after the recent run-up to record highs? Until the end of FY23, markets had underperformed for a couple of years, while earnings growth for markets during this time was in the mid-teens. Thus, the recent movement in the markets, to a great extent, is a catch-up rally.

Disclaimer: This is an AI-generated live blog and has not been edited by LiveMint staff.