All the sectoral indices ended in the red. BSE midcap index fell 0.3 percent, while smallcap ended flat.
Benchmark indices erased previous session gains and ended nearly a percent lower dragged by the bank, metal and pharma names. At close, the Sensex was down 485.82 points or 0.92 percent at 52568.94, and the Nifty was down 151.80 points or 0.96 percent at 15727.90.
Tata Motors | CMP: Rs 306.15 | The stock shed over 3 percent after company-owned British brand Jaguar Land Rover expects to end the first half of the year with a 36 percent loss in volumes due to the ongoing semiconductor shortage. However, the second half is expected to see a better supply of chips and improvement in vehicle production, a top company official said on July 7.
PNB Housing Finance | CMP: Rs 721.85 | The stock hit 5 percent upper circuit after Punjab National Bank asked its housing finance arm to restructure Rs 4,000-crore capital infusion deal with Carlyle. The housing financier also said it will await the Securities Appellate Tribunal’s order on the issue before taking a final decision. The letter from the bank said “the board of directors of the company should take cognizance of the directive issued by Sebi vide their letter dated June 18, 2021, and reconsider restructuring the contours of the deal/transaction of the capital raising in line with such Sebi directive,” PNB Housing said in the filing.
Bajaj Healthcare | CMP: Rs 978.25 | The scrip jumped over 7 percent after the company received a licence from the Defence Research and Development Organisation (DRDO) to manufacture and sell its anti-COVID-19 drug.
Brightcom Group | CMP: Rs 29.80 | The share price gained 5 percent hitting the upper circuit after the company said it had signed a Letter of Intent to acquire a digital marketing services company. ” …. signed a Letter of Intent (LoI) to acquire a digital marketing services company based out of India with 1100 employees and premium clients such as Netflix, Disney, Bitly, Hulu and The New York Times,” the company said in the release.
JSW Steel | CMP: Rs 668.80 | The stock shed 3 percent on July 8. CARE Ratings has upgraded the JSW Steel’s issuer rating and rating for long term bank facilities and non-convertible debentures to CARE AA from CARE AA- and kept a stable outlook. It has reaffirmed the ratings for the short term bank facilities and commercial paper at CARE A1+, the company said in the release.
TCS | CMP: Rs 3,253 | The stock ended marginally in the red ahead of its Q1 results. The IT major is expected to report about 4 percent sequential growth in revenue in constant currency terms, driven by seasonality, strong bookings, and digital traction. TCS is also expected to report margin contraction because of higher wage costs, while other income is expected to support profitability. The market will also look out for an update on the management’s expectation of double-digit growth in FY22.
KPR Mill | CMP: Rs 1,783 | The share price jumped 5 percent as the company is going to consider a proposal for sub-division of the equity shares. A meeting of the board of directors of the company is scheduled to be held on July 27, 2021, to consider the un-audited financial results for the quarter ended June 30, 2021. The board also consider the proposal for sub-division of the face value of the equity shares of the company, subject to the approval of shareholders, the company said in the release.
HG Infra Engineering | CMP: Rs 494.50 | The scrip added 4 percent after Employees Retirement System of Texas – Self Managed Portfolio bought 4,26,311 equity shares in the company at Rs 472.23 per share on the NSE, the bulk deals data showed.
Tech Mahindra | CMP: Rs 1,060.40 | The share price ended in the green on July 8. The company announced the Managed Security Services Provider (MSSP) partnership with Palo Alto Networks, a global cybersecurity leader. This agreement leads to the expansion of Tech Mahindra’s global partnership with the company to provide a full suite of Managed Security Services.
L&T Infotech | CMP: Rs 4,046 | The stock ended in the green after the company completed the acquisition of 100 percent shareholding of Cuelogic Technologies on July 7, 2021. Consequently, Cuelogic is now a wholly owned subsidiary of the company and Cuelogic Technologies Inc., US is now wholly owned step-down subsidiary of the company.
Sandip Das
