The stock market today saw a flurry of activity with various companies making headlines. Nestle announced a dividend of ₹2.75 per share, causing its stock to surge over 2%. Hitachi Energy India’s stock also saw a significant increase of 235% in less than 9 months, driven by factors like grid digitalization and increased power generation.
In the two-wheeler sector, companies like Bajaj Auto, Hero MotoCorp, and Eicher Motors are expected to see steady 7-9% volume growth in FY25, with EV sales and rural demand being key drivers.
On the IPO front, Sati Poly Plast announced its IPO subscription opening on July 12, with a price band of ₹123 to ₹130 per share. The company offers flexible packaging solutions for various sectors.
The Nifty Pharma index has outperformed the benchmark Nifty 50, rising nearly 48% in the last year, with companies like Zydus, Lupin, and Glenmark leading the charge.
Tata Motors reported a 2% increase in global wholesales for commercial vehicles in Q1 FY25, signaling positive growth for the company.
In other news, Hyundai Motor India IPO is under scrutiny, with questions raised about its valuation compared to Maruti Suzuki. Kaya’s stock hit a 10% upper circuit for the third day in a row, reaching a 5-year high.
Overall, the market saw a mix of gains and losses, with top gainers and losers like Oil & Natural Gas Corporation, ITC, Divis Laboratories, and Titan Company making waves. Investors are advised to stay informed and keep an eye on the market for real-time updates.
