Share Market Highlights July 2, 2024: Sensex, Nifty end flat amid financial and auto declines

NMDC: The company reported production volume at 3.37 million tonnes down 3.2% YoY and Sales volume at 3.73 million tonnes down 9% YoY for the month of June. The company set Lump ore prices at Rs 5,959 per ton and fines at Rs 5,110 per tonne.

Asset management companies: SEBI has asked stock exchanges and other market infrastructure institutions to charge all its members uniformly and not offer discounts based on trading volumes or activity. 

Patanjali Foods: The board of Patanjali Foods approved the proposal to buy Patanjali Ayurved’s non-food business for Rs 1,100 crore. Payment is to be done in 5 tranches of 20%, 20%, 45%, 10%, and 5%. 

JTL Industries: The company reported sales volume up 10.8% at 85,674 million tonnes for the end of Q1 FY25.

South Indian Bank: The company reported gross advances up 11.4% at Rs 82,510 crore YoY, deposits up 8.4% at Rs 1.04 lakh crore YoY, and the CASA ratio at 31.87% vs. 32.64% YoY for Q1 FY25. 

CSB Bank: The company reported gross advances up 17.8% at Rs 25,099 crore YoY while deposits were up 22.2% at Rs 29,920 lakh crore YoY for the end of Q1 FY25. 

Gandhar Oil Refinery (India): The company’s unit received a three-year contract worth Rs 375 crore from ADNOC Distribution. The contract quantity is estimated to be 30 million litres per year. 

DCX Systems: The company received an order worth Rs 1,250 crore from Larsen & Toubro for the manufacture and supply of electronic modules for three years. 

Deepak Fertilisers and Petrochemicals: The company received the NCLT nod for the scheme of arrangement between Mahahdhan AgriTech, Deepak Mining Solutions, and Mahadhan Farm Technologies. 

JK Cement: Sumnesh Khandelwal resigned as deputy CFO effective July 1. 

Pennar Industries: The company is to set up a PEB manufacturing plant in Raebareli in Q2 and to have a production capacity of 36,000 MTPA. 

BLS International Services: The company unit received the Turkish Regulatory Authority’s nod for the acquisition of iData. 

Maruti Suzuki India: The company reported production volumes down 3% to 1.33 lakh units YoY for the month of June. 

Sakuma Exports: The company approved a bonus issue of shares in the ratio of 4:1, raised up to Rs 500 crore via QIP and approved an investment of Rs 600 crore in its subsidiaries.

Laxmi Organic Industries: Tanushree Bagrodia resigned as CFO effective Sept. 2 and Mahadev Karnik will take over as the new CFO effective Sept. 3. 

IOL Chemicals and Pharmaceuticals: The company received the China regulatory body’s approval for the company’s fenofibrate product. This approval will enable the company to export its fenofibrate API to China’s market. 

Ganesha Ecosphere: The company’s unit commenced operations of its third production line of rPET chips at its Warangal facility in Telangana. 

CAMS: The company 

partnered with Google Cloud to build a cloud-native platform for its asset management business services. 

Auto Sales Data 

Tata Motors: Total domestic sales are down 8% year-on-year at 74,147 units in June. Total commercial vehicle sales were down 7% at 31,980 units, total PV sales were down 8% at 43,624 units and total EV sales were down 34% at 4,657 units. The company reported FY25 Q1 sales data in which total domestic sales were up 2% year-on-year at 2.25 lakh units, total CV sales were up 6% at 91,209 units, total PV sales were down 1% at 1.40 lakh units and total EV sales were down 14% at 16,579 units. 

TVS Motor: Total sales were up 5% year-on-year at 3.33 lakh units in June. 2-wheeler sales went up 6% at 3.22 lakh units, motorcycle sales up 3% at 1.52 lakh units, scooter sales up 6% at 1.28 lakh units, EV sales up 10% at 15,859 units and total exports down 4% at 76,074 units.

Hero MotoCorp: The total sales went up 15% year-on-year to 5.03 lakh units in June. Domestic sales were up 16% at 4.91 lakh units, exports were down 15% at 12,032 units, and motorcycle sales were up 17% at 4.73 lakh units for the month of June. 

Eicher Motors: Total motorcycle sales were down 5% year-on-year at 73,141 units in June,

while motorcycle exports were down 27% year-on-year at 7,024 units for the month of June.

Listing 

Allied Blenders and Distillers: The company’s shares will debut on the stock exchanges on Tuesday at an issue price of Rs 281 apiece. The Rs 1,500-crore IPO was subscribed to 23.55 times on its third and final day. Bids were led by institutional investors (50.37 times), retail investors (4.51 times), non-institutional investors (32.40 times), and a portion reserved for employees (9.89 times). 

Bulk Deals 

Nazara Technologies: TIMF Holdings bought 12 lakh shares (1.56%) at Rs 872 apiece. On the other hand, Parijata Trading Private Limited, Gyaana Retreat & Services Private Limited and Fashions Brands (India) sold 6 lakh shares (0.78%) at Rs 872 apiece. 

SG Finserve: Sixteenth Street Asian Gems Fund sold 10.44 lakh shares (1.86%) at Rs 400.19 apiece, while Sanjay Garg bought 8.5 lakh shares (1.52%) at Rs 396.34 apiece. 

EFC (I): Societe Generale bought 3.5 lakh shares (0.7%) at Rs 565 apiece, while Black Hawk Properties Private Limited sold 2.5 lakh shares (0.5%) at Rs 565 apiece. 

Krishna Defence and Allied Industries: Credent Asset Management Services Private Limited Pms A/C Orbis0000154 sold 0.99 lakh shares (0.86%) at Rs 1048.54 apiece. 

Veranda Learning Solutions: Ujwal Kumar Pagariya bought 4 lakh shares (0.56%) at Rs 240.77 apiece. 

Religare Enterprises: Plutus Wealth Management LLP sold 71 lakh shares (2.15%) at Rs 239.05 apiece, while Societe Generale bought 50.5 lakh shares (1.53%) at Rs 239 apiece. 

Insider Trades

OM Infra: Promoter Jyoti Kothari sold 3.12 lakh shares on June 28. 

Ethos: Promoter Mahen Distribution sold 37,237 shares between June 25 and 28. 

Go Fashion (India): Promoter Rahul Saraogi created a pledge for 3.08 lakh shares on June 26. 

ION Exchange (India): Promoter Mahabir Prasad Patni sold 1,42,500 shares on June 18–28. 

Steel Exchange India: Promoter Umashiv Garments sold 1 crore shares on June 27.

Pledge Share Details 

Go Fashion (India): Promoter Gautam Saraogi revoked a pledge for 3.08 lakh shares on June 25. 

Steel Exchange India: Promoter Umashiv Garments revoked a pledge for 1 crore shares on June 27. 

Mangalore Chemicals and Fertilisers: Promoter Zuari Agro Chemicals created a pledge for 9 lakh shares on June 26. 

Trading Tweaks 

Price band changes from 10% to 5%: Solara Active Pharma Sciences. 

Price band changes from 20% to 10%: Exicom Tele-Systems, Black Box, GRP. 

Ex/record Dividend: Epigral. 

Ex/record AGM: Epigral, Automotive Stampings and Assemblies. 

Ex/record buyback: Bajaj Consumer Care. 

Ex/record bonus: Oil India. 

Moved to a short-term framework: Black Box. 

Moved out short-term framework: Chambal Fertilisers & Chemicals,

Johnson Controls, Hitachi Air Conditioning India.

F&O BAN

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2. INDUSTOWER