Share Market Today: FMCG stocks lead rally, media and PSU banks drag
The share market started on a tepid note and has been mostly trading in the red-to-flat zone on Monday amidst mixed-to-negative global cues. FMCG stocks lead the rally along with Consumer Durable, Pharma and Auto, while Media and PSU Bank indices drag. Concerns surfaced over the weekend about the possible disruption of Russian oil supply after a challenge by the Russian mercenary group Wagner on Moscow, which was eventually averted. The move also raised questions about political stability in Russia.
Rain Industries share price rises 4% after Ind-Ra upgrades credit outlook
Rain Industries, a petrochemicals maker, experienced strong buying activity on Monday following a credit rating upgrade and positive outlook assigned by India Rating on the company’s term loan. The stock witnessed a gain of nearly 4% throughout the day. As a result of the outlook upgrade, Vaishali Parekh, Vice President – Technical Research at Prabhudas Lilladher, included Rain Industries in her medium-term tech pick and recommended buying and accumulating the stock.
PB Fintech share price jumps over 8% to hit fresh 52-week high on strong management commentary in analyst meet
PB Fintech, the parent company of Policybazaar, experienced a surge in its share price, rising over 8% to reach a new 52-week high of ₹705.50 apiece on the BSE. This increase was driven by positive comments made by the company’s management during its analyst meeting.
Maruti Suzuki jumps more than a per cent and leads the stock charts in the second half of today’s session
Maruti Suzuki
Marico partners ONDC for Saffola Store
Marico Ltd, a packaged consumer goods company, has integrated its Saffola Store with the Open Network for Digital Commerce (ONDC). This collaboration aims to provide new growth opportunities, foster collaboration, and enhance digital experiences for customers. The Saffola Store serves as Marico’s direct-to-consumer platform for its popular edible oil and packaged food brand, Saffola.
Adani Power commissions Thermal plant in Jharkhand, stock up 2.85%
Adani Power Limited has announced the successful commencement of commercial operations at its power plant situated in Godda District, Jharkhand. The company confirmed this information in a filing with the stock exchange. As a result of this news, Adani Power Limited’s stock was trading at ₹249.40 apiece on the BSE, reflecting a 2.89% increase at 1:48 pm.
Tech startup Byju’s hasn’t paid EPF money for employees months: Report
Byju’s, the edtech unicorn, has reportedly not deposited the provident fund (PF) money for a significant number of its employees during the fiscal year 2023-24.
Angel One outlook on Commodity market: The weekend session may contribute to the commodity market’s profit booking
Tejas Anil Shigrekar, senior technical analyst (commodities and currencies) at Angel One: The weekend session may contribute to the commodity market’s profit booking. Beginning of May month showed downward pressure for all commodities, which was extended in June month when gold on MCX suffered a significant sell-off, closing at ₹58196 per ten grammes, a drop of more than 10%, or ₹6250.
Pharma index shines as it jumps more than a per cent with most stocks trading in the green
NHPC signs MoU with Odisha for solar energy projects: ANI
NHPC, India’s leading hydropower development company, has entered into a Memorandum of Understanding (MoU) with Grid Corporation of Odisha (GRIDCO) to collaborate on the development of pumped storage projects and renewable energy initiatives.
India’s oilseed exports may grow by 10-15 pc this fiscal; Exporters
India’s oilseed exports are expected to grow by 10-15 per cent during this fiscal as traders are getting good orders from regions like Southeast Asia, Latin America and Africa, according to exporters.
Essen Speciality Films IPO day 2: Issue subscribed 6.82 times so far; retail portion booked 9.64 times
The IPO of Essen Speciality Films, a manufacturer and exporter of plastic products, has garnered an impressive response from investors. As of June 26, the second day of the IPO, the issue has been subscribed 6.82 times so far, with the retail portion booked 9.64 times.
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