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Top Gainers & Losers on 6 July: Swan Corp, Zen Tech, HFCL, HDFC Bank, Thermax, Hitachi Energy among top gainers
Indian stock markets rose on July 6, with benchmark indices gaining over 0.60%. The Nifty 50 closed 0.66% higher at 24,420, while Sensex advanced 0.67% to 78,236. HDFC Bank and Axis Bank drove gains, while Nifty Realty led sectoral increases with a 2% rise.
Indian Oil, HPCL buy 7 million barrels of crude via tenders, trade sources say
Indian refiners Indian Oil Corp and Hindustan Petroleum Corp have collectively secured approximately 7 million barrels of crude oil through recent tenders. Indian Oil acquired various grades from Angola and Nigeria, while HPCL purchased Brazilian Tupi crude. These significant purchases are slated for delivery between August and September, bolstering India's energy reserves.
Hitachi Energy, GE Vernova, Siemens rise up to 6% as Nomura calls recent correction an ‘overreaction’. 4 reasons why
Indian electrical equipment stocks rebounded, gaining up to 6% after global brokerage Nomura labelled the recent sell-off an "overreaction." Nomura highlighted that Chinese firms, granted a two-year tender exemption, historically secured minimal market share. They also noted capacity constraints among these firms, suggesting the exemption is a temporary measure, not a policy shift, thus limiting significant impact on domestic players.
Bullish futures positioning hints at upside in large-cap stocks
Indian stock markets are seeing pockets of strength, particularly in mid- and small-cap segments, with optimism now extending to select large-cap stocks. Analysts highlight several stocks showing bullish futures build-up and positive technical indicators. IndusInd Bank, Nalco, Shree Cement, HDFC AMC, Adani Energy Solutions, Nestlé India, and ONGC are identified as potential gainers, with specific entry points, targets, and stop-losses provided for traders.
Hitachi Energy, GE Vernova, Siemens Energy, other power equipment stocks crash up to 10%. Here’s why
Indian power sector stocks plunged Friday as reports emerged of a two-year exemption granted to four Chinese electrical equipment firms for government tenders. This move, aimed at easing project delays, allows companies like TBEA Energy and Nanjing Electric India to participate, despite earlier restrictions following the 2020 border clash. The exemption, however, is not to be treated as a precedent.
Smart investing: 11 stocks that retail investors bought for 3 quarters delivered up to 380% returns
Smart investing paid off for many retail investors who consistently increased their stake in 11 select stocks over three quarters. These companies, spanning diverse sectors like energy, engineering, and technology, delivered impressive returns, with some soaring over 380%. This trend highlights a strategic approach by individual investors, moving beyond mere momentum chasing to achieve significant gains in the Indian equity market.
India refiner Nayara's gasoline sold to Russia via traders, sources say
Indian refiner Nayara Energy's gasoline is reportedly reaching Russia, which faces fuel shortages due to Ukrainian attacks. While Indian Oil Minister stated no direct sales, traders might be facilitating these shipments. Nayara, with a stake held by Russian oil major Rosneft, has been processing exclusively Russian crude and relying on traders for fuel exports since EU sanctions complicated its dealings.
Indian Oil Corporation Ltd spurts 1.49%
Indian Oil Corporation Ltd is quoting at Rs 141.92, up 1.49% on the day as on 12:49 IST on the NSE. The stock is down 4.02% in last one year as compared to a 5.02% drop in NIFTY and a 9.03% drop in the Nifty Energy index.
Bijay Kumar Mohanty assumes additional charge as CMD, IREDA
India's state owned Indian Renewable Energy Devlopment Agency (IREDA) on Wednesday, says its director of Finance, Bijay Kumar Mohanty who has assumed additional charge of Chairman and Managing Director on July 1. He's a fellow member at of the Institute of Cost Accountants of India and has 27 years of experience in the Indian power sector, where he worked with the Central Electricity Supply Company of Odisha Ltd (CESCO) and Grid Corporation of Odisha Ltd (GRIDCO).
Green Energy Stocks Outperform As Indian Benchmark Indices End Lower On June 30 - SolarQuarter
Green Energy Stocks Outperform As Indian Benchmark Indices End Lower On June 30SolarQuarter
Markets poised for a cautious start as GIFT Nifty trades flat
Indian markets ended Thursday on a high note, with the Nifty 50 climbing nearly 1% from its lowest point. This positive momentum was fueled by declining energy prices, a stronger rupee, and favorable global trends. Analysts anticipate a continued positive outlook for Indian equities, with the Nifty expected to hold above the 24,000 mark, bolstered by stable geopolitical conditions and robust foreign investment.
PFC, REC boards approve merger scheme, share exchange ratio at 88 PFC shares for every 100 REC shares
Power Finance Corporation and REC Ltd boards have greenlit their merger, creating India's largest power financier with over Rs 11 lakh crore in loans. The approved share swap ratio is 88 PFC shares for every 100 REC shares. This consolidation aims to boost operational efficiency and bolster the balance sheet, positioning the combined entity to significantly fund India's energy transition and infrastructure growth.