Coal India, BPCL, Hindustan Unilever, Tata Consumer Products, and Bharti Airtel are the top gainers on NSE Nifty 50 index whereas the top laggards include Shriram Finance, Kotak Mahindra Bank, Dr Reddy’s Lab, Ultratech Cement, and Hindalco.

Vodafone Idea shares have shown positive performance across multiple time frames, demonstrating their stability and growth potential. Over the past month, the stock has returned 1.54%, showcasing its steady upward movement. In the last six months, the stock has increased by a notable 8.63%, indicating a strong growth trend.

Year-to-date, Vodafone Idea shares have risen by 2%, reinforcing the stock’s positive momentum for the current fiscal year. Over the broader span of the last twelve months, the stock has delivered an impressive return of over 125%, highlighting its sustained growth and appeal to investors.

India Cements’ share price surged over 5% to reach a 52-week high during intraday trades on Tuesday. The stock opened at ₹310, slightly above its previous close of Rs 307.40, and continued to climb, hitting a 52-week high of Rs 323.40 on the NSE, marking a gain of more than 5%.

The recent rally comes in the wake of India’s largest cement manufacturer, UltraTech, acquiring a 23% stake in India Cements.

Anand Rathi Investment Services has set a target price of Rs 410 for India Cements’ shares, with a stop loss of Rs 260. The firm expects a potential upside of more than 28% for the stock, which is currently trading near Rs 320.

Commenting on the Indian Gems & Jewellery exports data Colin Shah, MD, Kama Jewelry said that The gems & jewellery industry has been going through a tough time for over a year. Moreover, the continuous geo-political tensions have added more woes to the already ailing industry. Also, with 60+ countries undergoing elections this year, we foresee softening of demand in the said countries as trade activities may be restricted during these times.

Shah also added that moving forward, we need to wait and watch how the events unfold as that will be the deciding factor of the course of trade activities for the rest of the year. However, with the festive season approaching, we hope to see some revival in demand supported by progress in trade activities. Additionally, with budget in sight, we request the Finance Minister to take some key measures for the gems and jewellery industry so that it is empowered to ride through this challenging time.

Bajaj Auto’s share price surged over 2%, hitting an intra-day high of Rs 9,895 on the NSE, following the announcement of its strong Q1 FY25 financial results. The company reported a net profit of Rs 1,998 crore, marking a significant increase from Rs 1,665 crore year-on-year (YoY). Revenue for the quarter stood at Rs 11,928 crore, compared to Rs 10,309 crore in the same period last year. EBITDA also saw a rise, reaching Rs 2,415 crore, up from Rs 1,953 crore YoY. Additionally, Bajaj Auto’s margins improved to 20.2%, up from 18.95% YoY.

According to data released by the Gems and Jewellery Export Promotion Council (GJEPC), the apex body for the Gems & Jewellery Industry in India, the overall gross exports of gems and jewellery in June 2024 stood at USD 1,909.57 million (Rs. 15,939.77 crores). This marks a decline of 14.78% compared to USD 2,240.77 million (Rs. 18,413.88 crores) for the same period last year.

In terms of overall imports, June 2024 witnessed a decline of 16.51%, standing at USD 1,548.93 million (Rs. 12,926.77 crores) compared to USD 1,855.27 million (Rs. 15,247.75 crores) for the same period last year.

On Tuesday, shares of Bharti Hexacom soared 9.5%, reaching an intraday high of Rs 1,167 per share, following JPMorgan’s initiation of coverage with an “Overweight” rating. The brokerage firm set a price target of Rs 1,280 per equity share, suggesting a 20% upside from the closing rate of Rs 1,065.30 on July 15. JPMorgan highlighted Bharti Hexacom as the best pure play in the Indian market due to its strong presence in wireless services, setting it apart from competitors like Bharti Airtel and Vodafone Idea.

“We believe that RBI is likely to be on a long pause and is likely to start cutting rates only after the developed market central banks start their rate-cutting cycle. In this context the ECB has reduced its policy rates and the BOE is also expected to cut rates soon. Given the current growth-inflation dynamics in India, we believe that rate cuts will start from Q4-FY25 onwards. Markets tend to react before the start of a rate-cutting cycle, and any retracement in the yields offers a good opportunity for investors to increase their allocation to fixed income, as real and nominal yields remain attractive with favourable demand-supply dynamics playing out in the sovereign bond market. We expect the 10-year benchmark yield to keep drifting lower gradually and converge with the policy repo rate before the start of the rate-cutting cycle,” said Puneet Pal, Head of Fixed Income at PGIM INDIA Mutual Fund.

Commenting on the FMCG sector’s expectations from the Budget, Manoj Verma, COO of Bikaji Foods International, said, “After a mild slowdown in demand in the last financial year, there is an uptick in the first quarter of FY 2025, with both rural and urban sectors growing at rates higher than the food industry average. With the forecast of a normal monsoon, this trend is likely to sustain. Our primary expectation from Budget 2024-25 is that a stable policy regime, particularly on tax rates, should be maintained so that there are no policy shocks. Higher spending on agriculture to induce a smooth and quicker transition from conventional cereal crops to horticulture and pulses would help stabilize prices of critical inputs for the sector.”

Jio Financial Services’ shares fell 2.4% to a low of Rs 346.75 from its previous close of Rs 355.40. The fall in the stock price came a day after the company reported a 5.72% decline in its consolidated net profit for Q1 FY25. The company reported a net profit of Rs 313 crore in Q1 Of FY25 in comparison to Rs 332 crore it posted in the same quarter a year ago. Also, the company saw a drop of 19.8% on year in its interest income standing at Rs 162 crore in Q1 FY25 in comparison to Rs 202 it posted in the corresponding period previous year.

Shares of IRB Infrastructure Developers resumed their upward trajectory on Tuesday, July 16, after breaking a four-session winning streak and ending in the red the previous day. The stock opened at Rs 68.32, up from its previous close of Rs 68.20, and surged 5.5% in intraday trading to reach Rs 71.98 on the NSE.

Courtesy: NSE

HDFC Life has ably faced multiple headwinds, coming in from taxation on higher ticket policies, bloated costs due to the Exide Life acquisition and competition in the parent banca. “With its evolved product suite and growth led by policy count, we expect the company to deliver consistent topline growth, with steady VNB margins. The stock trades at 2.5x/2.1x FY25e/FY26e EV. We maintain “BUY” with an unchanged target price of Rs 819, at 2.7x FY26e EV of Rs 65,500 crore,” said JM Financial on HDFC Life Insurance post Q1 results.

Shares of debt-laden Vodafone Idea rallied 6% during early trade on Tuesday, reaching a high of Rs 17.66, following Chief Justice of India’s decision to review its plea concerning Adjusted Gross Revenue (AGR) dues.

The NSE Nifty 50 was up 0.22% at 24,640.55, while the BSE Sensex was up 0.18% at 80,812.39.

Courtesy: NSE

InCred Equities said that it continues to appreciate the strong scheme-wise delivery provided by the company which, in turn, resulted in a surge in equity funds’ AUM and an improvement in market share for the AMC. This will also support yields and profitability in the coming quarters. “However, with post recent rise, we believe that most positives are already factored in the stock price and there is a limit to further upside. We feel that other AMC stocks offer a better risk-reward ratio. We retain our “HOLD” rating on the stock with a higher target price of Rs 4,250 (Rs 3,800 earlier) or ~29x FY26F EPS. Downside risks: Lower growth and industry-related risks. Upside risks: Improved inflow and a relatively faster gain in market share,” said InCred Equities on HDFC AMC in a research report.

Vedanta’s shares surged 1.5% to reach an intra-day high of Rs 467.55 on the NSE. The mining conglomerate announced the floor price for its Qualified Institutional Placement (QIP) issue at Rs 461.26 per equity share in an exchange filing on July 15. Shareholder approval, secured on June 21, allows Vedanta to raise up to Rs 8,500 crore through the issuance of securities. This strategic initiative aims to optimize Vedanta’s capital structure, bolster shareholder value, and underscore the company’s commitment to sustained financial growth and stability.

Gold and silver exhibited high volatility, resulting in mixed outcomes. Gold settled significantly higher, reaching a seven-week high, while silver closed in negative territory amid uncertainty regarding the timing of Federal Reserve rate cuts, as stated by the Fed Chairman in his speech on Monday. “The initial reading of the second quarter aligned with Fed expectations, providing some confidence towards easing monetary policies. However, the dollar index rebounded from its lows following an assassination attempt on the former US President last week, limiting gains in precious metals. Gold has support at $2388-2370 and resistance at $2427-2445. Silver has support at $30.60-30.40 and resistance at $31.05-31.22. In INR, gold has support at Rs 73,010-72,740 and resistance at Rs 73,620-73,760. Silver has support at Rs 92,450-91,880 and resistance at Rs 93,840-94,520,” said Rahul Kalantri, Vice President of Commodities at Mehta Equities.

Commenting on the Gold and silver outlook Renisha Chainani, Head Research – Augmont – Gold For All said The gold price stays close to a nearly two-month high as Fed rate reduction expectations rise. Markets are now pricing in a larger possibility for the beginning of the rate-cutting cycle in September. The present market pricing shows a larger likelihood that the Fed will cut interest rates in September, with the prospect of another interest rate cut before the end of the year.

Chainani also added Gold closed last week above important resistance of $2400 (Rs 73000), this has opened doors for the previous high of $2450 (Rs 74500) and a new high of $2500 (Rs 76000) in the coming days if prices sustain above the resistance level.

Courtesy: BSE

Courtesy: NSE

Commenting on the Nifty outlook Drumil vithlani Technical Research Analyst at Bonanza Portfolio said that the NIFTY 50 index advanced higher at 24586.70, The Index formed a Doji candle on the daily time frame indicating a pause in trend at the current junction. The short-term trend of nifty remains sideways to bullish until 24300 is not breached Moreover the sustained uptrend is driven by sectoral rotation participants should refrain from chasing breakout moves and use intraday dips ( support levels ) if any towards 24500 to add long positions until the index holds 24330 Options data highlights that market is expected to move sideways signaling narrow range of 24500-24700 and a broader range of 24200-24700 Moreover PCR is now standing at 1.33 from the previous day of 1.47 Indicating call writers are active in markets.

Shares of Hatsun Agro, a dairy products manufacturer, surged over 16% in morning trade on Tuesday, July 16, on the BSE. This spike followed the company’s release of its June quarter (Q1FY25) financial results. Hatsun Agro’s share price opened at Rs 1,350, up from its previous close of Rs 1,186.95, and quickly reached a new 52-week high of Rs 1,380, marking a 16.3% increase. Subsequently, the stock moderated its gains and was trading 7.76% higher at Rs 1,279 around 9:25 am.

BPCL, Bharti Airtel, Coal India, Adani Enterprises, and ONGC were the top gainers in the Nifty 50. While HCLTech, LTIMindtree, L&T, Hindalco, and Tata Motors were the major losers in the Nifty 50 on July 16.

The NSE Nifty 50 opened 0.11% higher at 24,614, while the BSE Sensex opened 0.10% higher at 80,741.Come from Sports betting site VPbet

“The charts of Bank Nifty indicate that it may get support at 52,200, followed by 52,000 and 51,800. If the index advances further, 52,700 would be the initial key resistance, followed by 52,800 and 53,000.

Yesterday, both Nifty and the Bank Nifty saw substantial gains. During its weekly expiry in today’s session, Bank Nifty could face volatility. Robust purchases by FIIs will support the market’s upward trajectory,” said Deven Mehata, Research Analyst at Choice Broking.

Angel One reported a consolidated profit increased by 32.6% year-on-year to Rs 293 crore ($35.1 million) in the three months to June 30. The company’s higher Q1 profit was boosted by a surge in orders amid increased trading activity.