Market at 1 PMBenchmark indices erased some of the intraday losses but still trading lower with Nifty below 15700.The Sensex was down 357.53 points or 0.67% at 52661.41, and the Nifty was down 114.20 points or 0.72% at 15666.10. About 1341 shares have advanced, 1649 shares declined, and 138 shares are unchanged.
Ashok Leyland June Auto Sales:
Nomura View On Maruti Suzuki
Nomura has kept neutral rating on Maruti Suzuki with a target at Rs 8,627 per share.
In 8 days of opening pre-bookings for Compact, received more than 45,000 bookings. It factor in 25%/9% volume growth in FY23/24 & market share to improve to 45% in FY23, reported CNBC-TV18.
Maruti Suzuki India was quoting at Rs 8,331.75, down Rs 138.45, or 1.63 percent on the BSE.
Windfall gains tax to dent last defence against bears
Aggregate earnings expectations are likely to see sharp cuts as the oil and gas sector’s contribution come under threat
Buzzing
The Phoenix Mills, RZPL and each of PML subsidiaries (viz. Offbeat Developers-ODPL, Graceworks Realty and Leisure-GRLPL and Vamona Developers-VDPL) have executed an additional subscription agreement.
After this, Reco Zinnia (RZPL), owned by GIC (Realty), has completed its second tranche of investment of Rs 400 crore across ODPL, VDPL and GRLPL on private placement basis by subscribing to the equity shares of each of the PML subsidiaries.
As a result, Phoenix Mills (PML) and RZPL hold 67.10 percent and 32.90 percent respectively, stakes in each of the PML subsidiaries.
Phoenix Mills was quoting at Rs 1,189.30, up Rs 8.50, or 0.72 percent on the BSE.
Here are the list of stocks that have touched their 52-week lows during the day on the BSE; Click to View More
MOIL raised some manganese fines, Chemical grades price by 5%
MOIL has fixed/revised prices of different grades of Manganese Ore and other products, effective from 01.07.2022 as under.
The prices of all Ferro grades of manganese ore with Manganese content of Mn-44% and above have been continued as prevailing since 01.06.2022 w.e.f. midnight of 30.06.2022/ 01.07.2022.
The prices of all other Ferro grades of manganese ore with Manganese content below Mn-44%, SMGR (Mn-30% & Mn-25%), Fines and Chemical grades have been increased by 5% on the prices prevailing since 01.06.2022 w.e.f. midnight of 30.06.2022/01.07.2022.
The basic price of EMD have been increased from Rs 1,50,000 PMT to Rs 1,55,000 PMT w.e.f. midnight of 30.06.2022/01.07.2022.
MOIL was quoting at Rs 141.50, up Rs 1.20, or 0.86 percent on the BSE.
Citi View on ICICI Securities Research house Citi has maintained buy rating on ICICI Securities and cut target price to Rs 400 from Rs 600 per share.The average cash turnover at NSE in June fell to 30% below Q4FY22 levels, while has negative implications for company’s revenue.The planned investments in technology platform reduce flexibility in costs.Citi has lowered FY23/24 estimates by 19/18% & lower target multiple to 13x, reported CNBC-TV18.
Market at 12 PMBenchmark indices were trading lower with Nifty below 15650.The Sensex was down 463.02 points or 0.87% at 52555.92, and the Nifty was down 144.20 points or 0.91% at 15636.10. About 1231 shares have advanced, 1705 shares declined, and 130 shares are unchanged.
Buzzing:Engineers India signed an agreement for joint commercialization of Earthquake Warning System, company said in press release.Engineers India is engaged by CSIR-CSIO as the technology commercialization partner for next five years on 30.06.2022.The MoA cum Transfer of Technology (ToT) agreement was signed in the presence of Ms. Vartika Shukla, C&MD, EIL and Prof. S. Anantha Ramakrishna, Director, CSIR-CSIO, it added.
Edelweiss Financial clarifies on news report on sale of mutual fund business
This is with reference to a certain media report that has appeared this morning – July 1, 2022, in relation to sale of our Mutual Fund Business. The story is purely speculative, based on insinuations of vested interest and is completely baseless and untrue, Edelweiss Financial Services said in its release.
We strongly and emphatically deny the report and wish to reiterate that the news is factually untrue and purely speculative and motivated by vested interests, it added.
Edelweiss Financial Services was quoting at Rs 51.10, down Rs 0.45, or 0.87 percent on the BSE.
Eicher Motors June Auto Sales:
