Gift Nifty Up 82 Points | Adani Port Sees Record Cargo Volume | CDSL Announces Bonus Shares | Top Buzzing Stocks Today

Wed, 3 Jul Pre-Open

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Benchmark indices remained muted on Tuesday and ended the day lower.

Equity benchmark indices ended with marginal losses on Tuesday owing to selling pressure in banking shares.

At the closing bell on Tuesday, the BSE Sensex stood lower by 35 points.

Meanwhile, the NSE Nifty closed lower by 18 points (down 0.1%).

TCS, Infosys and Wipro were among the top gainers.

Tata Motors, Bharti Airtel and Kotak Mahindra on the other hand, were among the top losers.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

The BSE MidCap index ended 0.6% lower and BSE SmallCap index ended flat.

Sectoral indices are trading mixed, with socks in realty sector, energy sector and IT sector witnessing most buying. Meanwhile stocks in power sector and FMCG sector witnessed selling pressure.

Gold prices for the latest contract on MCX were trading flat at Rs 71,615 at the time of Indian market closing hours on Tuesday.

At 7:50 AM today, the Gift Nifty was trading up 82 points at 24,328 levels.

Indian share markets are headed for a positive start today following the trend on Gift Nifty.

Speaking of the stock market, two experienced fund managers, James Chanos (US) and Sankaran Naren (India), are concerned about high speculation and low margins of safety in their respective stock markets. This means there's a greater risk of losses if the market crashes.

The advice? Invest cautiously. Consider "stock market insurance".

Rahul Shah, Co-head of research at Equitymaster, talks about what exactly is this insurance and how does it work?

Tune into below video for more details.

Top buzzing stocks today

Solar Industries share price will be in focus today.

Shares of Solar Industries are at a record high, touching a market capitalisation of Rs 1 trillion (tn) on 2 July, just days after its subsidiary disclosed a new explosive formulation that was certified by the Indian Navy.

Godrej Properties will also be a top buzzing stock.

Shares of Godrej Properties rallied over 55 to touch a new all-time high of Rs 3,337.8 per share on July 2 after it sold over 2,000 homes worth over Rs 3,150 crore at the launch of its project Godrej Woodscapes in Bengaluru, Karnataka.

So far this year, the stock of this realty major skyrocketed over 65%, as compared to a 10% rise in the benchmark Nifty 50 index.

CDSL Announces Bonus Shares

Central Depository Services (CDSL), in its board meeting held today, announced a bonus issue of shares for eligible shareholders in the ratio of 1:1.

This means that for each share of the company held by its shareholders, they would get one extra share credited to their accounts.

CDSL also stated that the record date for this purpose will be intimated in due course.

The board of directors have also approved an increase in the authorized share capital of the company from Rs 1.5 bn to Rs 3 bn and the consequent alteration to the Memorandum and Articles of Association (MoA) to accommodate the issuance of bonus shares.

The company, on Friday, had stated its intention to consider the issue of bonus shares. This will be the first-ever instance in which CDSL will be issuing bonus shares to its shareholders, as per the available information.

In its Q4FY24 results, the company's board announced a final dividend of Rs 19 and a special dividend of Rs 3 per share to commemorate the 25-year silver jubilee celebrations of CDSL.

Adani Port Sees Record Crago Volume

Adani Ports and Special Economic Zone Limited (APSEZ) has reported substantial growth in cargo volumes for June 2024, achieving a 12% year-on-year (Y-o-Y) increase to 37 million metric tonnes (MMT). This performance was driven by a significant 33% Y-o-Y rise in container volumes and an 8% increase in liquids and gas cargo, the company said in a regulatory filing.

Notably, Kattupalli Port handled its highest-ever monthly cargo volume of 1.36 MMT.

For the quarter ending 30 June 2024, Adani Ports recorded a total cargo volume of 109 MMT, marking a 7.5% increase compared to the same period last year. This growth was primarily fueled by an 18% rise in container cargo and an 11% increase in liquids and gas cargo.

In the logistics segment, APSEZ further saw a 19% YoY increase in quarterly rail volumes, reaching 156,590 twenty-foot equivalent units (TEUs), and a 28% YoY rise in GPWIS volumes, totalling 5.56 MMT.

In April 2024, the company handled its highest-ever monthly cargo volume of 420 MMT, a 24% YoY increase. This figure includes international ports, with domestic ports contributing over 408 MMT of cargo. March 2024 also saw record monthly volumes exceeding 38 MMT.

Earlier this month, as reported by Business Standard, APSEZ's market capitalisation reached approximately US$ 37 bn, surpassing Beijing-Shanghai High-Speed Railway Co. This milestone, coupled with rising cargo volumes and the company's inclusion in India's benchmark S&P BSE Sensex Index, suggests a continued upward trajectory.

Why Som Distilleries Share Price is Rising

Shares of Som Distilleries and Breweries Limited surged more than 3% on 2 July after the company informed that the suspension of its licence was stayed by the Madhya Pradesh High Court on 28 June.

Following the stay order, the company said normal operations have resumed at the firm's plant.

The child labourers were made to fill and pack liquor bottles and were forced to work long hours, the news agency reported.

The report said that police are investigating the use of child labour at the distillery in Madhya Pradesh after the National Commission for Protection of Child Rights (NCPCR) said last month it had found 58 children working illegally at the factory.

The commission released photos of some with hands showing chemical burns and said some children were transported in school buses for factory work.

The report, which is not public but was seen by Reuters, says children were working 11-hour shifts starting at 8 am.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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