Latest Market News Today Live Updates July 4, 2024: Oil tops two-month high on lower US crude inventories; Brent above $87/bbl, WTI over 11-week high

• GLOBAL-OIL:Brent crude above $87, sets highest levels since April

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• One of the main requests is to reduce the Tax Deducted at Source (TDS) rate on the transfer of Virtual Digital Assets (VDAs) under Section 194S to 0.01%. Currently, the higher TDS rate of 1% acts as a deterrent for investors, leading to decreased market liquidity and participation.

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• SAR Televenture rights issue to open for subscription on July 15 and close on July 22. The company aims to raise ₹450 crore.

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• Sensex @80K: Sensex breached 80,000 from 70,000 in six months, the fastest-ever 10,000-point climb in its history.

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• The issue has so far been subscribed over 5.73 times on the second day of bidding. On the second day, the Bansal Wire Industries IPO received 12,28,88,254 applications against offered 2,14,60,906 shares.

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• Regulators like Sebi and appellate forums like SAT assumed immense national importance for fostering stable and predictable investment environment, the CJI said.

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• FMCG stocks to recover? Green shoots visible in rural demand; D-Street experts peg ‘hold’ for long-term, HUL is ‘buy’

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• Chandan Taparia has recommended three stocks to buy tomorrow, July 5. According to him, these stocks – Zydus Lifescience, HCL Tech, Cummins India – are technically placed to see a decent upmove.

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• The market regulator has asked stockbrokers to establish an institutional mechanism to prevent and detect fraud or market abuse while invoking the provisions of Chapter IVA of Sebi (stock brokers) (Amendment) Regulations, 2024.

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• PSU stocks rebounded strongly post Lok Sabha 2024 results, with BSE PSU index surging 20.16%.

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• Sebi chairperson Madhabi Puri Buch has urged industry players to report malpractices proactively, highlighting the need for trust and integrity in markets amid regulatory measures. Will these steps be enough to maintain investor confidence?

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• Bitcoin fell to its lowest level since May 2, and has lost more than 6 per cent this week.

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• Bansal Wire IPO: The issue that is open for subscription started on 3, July 2024 and closes on 5, July, 2024. From financials to key risks, here are 10 key things to know from RHP before investing

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• With the bank’s foreign shareholding now below 55%, its weighting on the index is expected to increase from 4% to about 8%. But how important is this for long-term investors?

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• Emcure Pharmaceuticals IPO subscription status: Emcure Pharmaceuticals, backed by Bain Capital, raised ₹583 crore from anchor investors prior to its IPO launch. The IPO garnered a subscription status of 4.98 times on the second day, attracting interest from various investor categories.

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• After the 2024 Lok Sabha elections, attention shifts to the Union Budget for 2024-25. Market experts recommend booking profits, re-evaluating portfolios, and focusing on long-term growth sectors to manage risks and seize opportunities amidst uncertainty.

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• The market capitalisation of the Mazagon Dock Shipbuilders crossed ₹1 lakh crore milestone on July 4.

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• Emcure Pharmaceuticals IPO saw positive investor response with overwhelming demand, offering new equity shares valued at ₹800 crore and existing shareholders issuing 1.14 crore equity shares in the IPO.

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• Top Gainers and Losers Today : The Sensex gained 62.87 points, or 0.08, to settle at 79986.8, while the Nifty gained 15.65 points, or 0.06, to close at 24286.5.

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• Cello World’s stock soared over 6% to a new high after launching a ₹730 crore QIP at a floor price of ₹896.09. The fundraising aims to repay debt, enhance manufacturing facilities, and reduce promoter’s stake to comply with SEBI norms.

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• Stock market today: Sensex, Nifty 50 end with mild gains on profit booking at higher levels

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• Shilchar Technologies, a top performer for long-term investors, has surged 11550% in the last four years. Recent gains include a 577% increase over the past year. The company specialises in supplying transformers for the solar and wind energy sectors, with plans to expand its capacity.

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• Persistent acquired US software company Starfish Associates earlier this week for $20.7 million, boosting sentiment for its already red-hot stock.
• Investors should keep in mind that beyond the AI hype, the acquisition is relatively small and that margins are likely to be under pressure in FY25.

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• Upcoming IPO: SEBI has approved the DRHP of VL Infraprojects, which has propsoed to launch NSE SME IPO

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• The Benchmark S&P BSE 30 index opened above 80,000 mark on Thursday, it had briefly crossed the mark on Wednesday too. The Sensex had crossed the 70,000 mark on December 11,2023.

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• HSBC Securities expects cooling of stock valuations due to capacity additions, effective management, La Nina, and high base effect, advising a more calibrated view on India’s power sector.

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• Stock Market todays: Bandhan Bank share price declined around 2% during the intraday trades n Thursday. The quarterly updates announced by the Bank showed decline in deposits sequentially though loans showed healthy growth . Should you buy, sell or hold the stock?

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• These little-known companies have cornered their respective markets. How are they set up for 2024?

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• Effwa Infra IPO comprises fresh issue of 5,316,800 equity shares and offer-for-sale of 936,000 shares. The company plans to utilise proceeds for general corporate purposes, working capital, and capital expenditure.

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• Expert view: Sachin Kothari, the director of Augmont – Gold For All, believes gold prices may be stable or under pressure for the next one to two months and might touch ₹70,000 odd levels on weakening fundamentals and technical factors.

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• Q1 results 2024: Multibagger stock has fixed board meeting date on 9th July 2024 to consider and approve Q1FY25 results

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• Ambey Laboratories, with 40 years in agrochemicals, is offering IPO at ₹65-68 per share. The net proceeds will fund working capital needs and general business objectives.

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• Bajaj Finance saw a record 4.47 million new customer additions in Q1FY25 and new loan bookings improved to 10% following the RBI’s lift on loan restrictions. Despite this operational success, the stock has lagged. Are better days ahead for Bajaj Finance?

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• Domestic brokerage firm Nuvama Professional Clients believes the stock has significant upside potential, citing the company’s growth trajectory. It initiated coverage on the stock with a ‘buy’ rating on Wednesday, setting a target price of ₹757.

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• Indian stock market surges post-elections despite concerns over inflation and interest rates. Sensex hits record high, Nifty 50 also peaks. Mid and smallcap segments outperform driven by economic growth and government policies.

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• Dev IT share price today opened upside at ₹125.50 and touched an intraday high of ₹135.01 apiece

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• As markets continue their record-high momentum, industry experts share their perspectives on how investors should navigate the current market landscape. From sectoral preferences to prudent portfolio adjustments, their insights provide valuable guidance to investors.

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• The obvious lesson: Trades based on voting results are a gamble on unreliable polling.

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• The recent rally in paper stocks is driven by factors such as increased demand for packaging solutions, positive economic indicators, and proposed customs duty hike on imports. Companies like JK Paper and Orient Paper have recorded significant gains.

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• Arvind share price has rallied over 10% in one month, while the stock is up more than 47% year-to-date (YTD). Arvind shares have given multibagger returns of over 178% in one year.

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• Shipbuilding stocks surged on Thursday as Mazagon Dock Shipbuilders hit a 52-week high, crossing ₹1 lakh crore market cap. Cochin Shipyard and Garden Reach Shipbuilders & Engineers also joined the rally. Technical analysts suggest a buy on dip strategy due to overbought indicators.

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• Sensex today: ICICI Bank share price was the top gainer among the 30 stocks listed on BSE Sensex

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• Following shares hit their 52 week high today – Samvardhana Motherson International, Trent, ICICI Prudential Life Insurance Company, JSW Steel, Wipro

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• Inox Wind positioned well in Indian wind sector with strong balance sheet and order book. Received ₹900 crore infusion to achieve net debt-free status, leading to stock price increase.

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• Wockhardt share price has given multibagger returns of more than 118% year-to-date (YTD). In the past one year, Wockhardt share price has surged over 283%.

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• Kaya and Marico collaborate to boost sales and marketing of Kaya’s 75+ personal care products outside of Kaya’s clinics. The partnership leverages both companies’ expertise to enhance brand presence and accessibility across various channels and markets.

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• Gold And Silver Prices Today:Gold And Silver Prices Today : 10 gm of 24 carat gold was at Rs.73671.0 in Delhi whereas 1 kg of silver was Rs.89880.0 in Delhi.

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• Lupin share price: Brokerage firm Kotak Securities has double upgraded Lupin stock to an ‘add’ from a ‘sell’, raising the fair value to ₹1,805 from ₹1,400 earlier. This implies an upside potential of nearly 11 per cent from the stock’s previous close.

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• Top Stock Recommendations: Osho Krishan, Sr. Analyst, Technical & Derivatives of Angel One, recommends buying GIC Housing Finance Ltd, and Aarti Industries Ltd.

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