Benchmarks equity indices, the BSE Sensex, and the NSE Nifty50 ended on a flat note on Tuesday. The Sensex settled at 81,455, up 0.12 per cent or 99.56 points, while the Nifty50, on the other hand, ended at 24,857 up 0.09 per cent or 21.20 points.
Alongside Colgate Palmolive India, Power Grid Corporation Of India, NTPC, Tata Motors, and Tata Motors DVR hit a 52-week high today. On the flip side, NFI Services, Focus Lighting & Fixtures, Secur Credentials, and Equitas Small Finance Bank hit a 52-week low.
Another highlight from today is SEBI’s Virtual Assistant (SEVA). SEVA is an AI-enabled chatbot introduced to help investors with information on specific processes and seek responses.
Today’s market opened with a jump in Colgate Palmolive share price as analysts raised their target prices on the stock after the strong Q1 results. This was followed by a stunning debut from VVIP Infratech with stocks opening with 90% premium at ₹176.70 apiece on BSE SME. VL Infraprojects shares witnessed a premium of 90% to the issue price of ₹42.00 per share and were listed at ₹79.80 apiece on NSE SME.
The subscription period for Clinitech Laboratory IPO, opened on July 25, and ended yesterday on July 29. The IPO listing date has been fixed for Thursday, August 1 on BSE SME. Clinitech Laboratory IPO subscription status on the third day of bidding was 38.96 times, as per chittorgarh.com.
The subscription for Sathlokhar Synergy’s IPO opened today, and will close on Thursday, August 1. The IPO allotment will likely be fixed on August 2 and the IPO listing date is August 6.
Jubilant Ingrevia is a standout gainer as its shares have jumped 18% in one month and more than 43% in one year. Another gainer is Suzlon Energy, which has gained its highest level since November 2009. Following their Q1 results, the company’s shares have gained 24% to ₹68.20 apiece, over 7 sessions.
By midday, the news of UBS demoting state-owned Navratna defence company Bharat Electronics (BEL) from Buy to Neutral came out. This demotion was jarring as BEL has reported impressive financial results for Q1FY25, with a 46.1% increase in net profit, reaching ₹776 crore compared to ₹531 crore in the same period last year. However, according to UBS the rating demotion was necessary as according to the brokerage house, the stock’s medium-term growth potential is already priced in. “We downgrade our rating to Neutral, while raising our price target from ₹333 to ₹340, based on an unchanged target PE of 40x on 12-month forward earnings as of July 2025,” UBS stated.
Brokerage House Nirmal Bang initiated ratings in the hospitality sector with a Buy rating on Indian Hotels and Chalet Hotels, and an Accumulate rating on EIH and Lemon Tree Hotels.
In the purview of Banking & Finance, experts say that LIC has delivered a promising Q1FY25 business update, and ICICI Prudential, SBI Life, and HDFC Life have delivered strong Q1 results in 2024.
Small-cap stock under ₹10 has been on an uptrend since last Friday after the announcement of winning its first export order.
Shares of Varun Beverages crashed around 7% in intra-day deals today, even after the company posted decent results for the quarter ended on June 2024.
