Stock Market Today: Nifty, Sensex Rises At Open As L&T Leads

The NSE Nifty 50 and BSE Sensex opened higher on Wednesday as the Larsen & Toubro Ltd. and Bharti Airtel Ltd. shares led. Both the Nifty 50 and Sensex were trading 0.03% higher, respectively as of 9:26 a.m.

Ather Energy Initiated With ‘Buy’ By HSBC, Nomura — Is This EV Stock A Must-Buy? Check Target Prices

Ather Energy Ltd., has received a ‘buy’ rating from HSBC and Nomura, as the brokerages initiated coverage on the stock. HSBC has initiated coverage with a target price of Rs 450, and Nomura initiated with a target price of Rs 458.

HSBC highlighted Ather Energy as a good company in a tough industry. “Ather’s product quality, technology leadership and distribution expansion should drive its market share in a tough market,” it added.

Yield On The 10-Year Bond Opens Flat

  • The 10-year bond yield opened flat at 6.35%

Source: Bloomberg

Stock Market Today: Nifty, Sensex Rise At Pre-Open

At pre-open, the NSE Nifty 50 was trading 0.28% higher at 24,890.40, and the BSE Sensex was trading 0.30% higher at 81,585.91.

Rupee Hits 87 Against US Dollar 

  • Rupee opened 18 paise weaker at 87.00 against US Dollar

  • It is the lowest level since March 13

  • It closed at 86.82 a dollar on Tuesday

Source: Cogencis

Aditya Infotech IPO: Check Day Two Subscription, Latest GM

Aditya Infotech Ltd.’s initial public offering will enter its second day of bidding on Wednesday. The IPO was fully subscribed at 2.05 times on the first day of bidding on Tuesday, led by demand from retail and non-institutional investors.

The Rs 1,300-crore IPO comprises a fresh issue of equity shares worth Rs 500 crore and an offer-for-sale of shares valued at Rs 800 crore. The bidding for the IPO will close on July 31. The bidding range is Rs 640 to Rs 675 per share.

Track live update on IPO here.

Varun Beverages Q2 Review: Target Price Tug-Of-War — Why Goldman Sachs Raises, CLSA Lowers

Analysts maintained their positive view on Varun Beverages Ltd., as they believed the company has a strong potential for good growth. Goldman Sachs raised the target price, while CLSA reduced the target price.

Goldman Sachs raised the target price to Rs 610 from Rs 590. The target price implied a 19% upside from Tuesday’s close. The brokerage maintained the buy rating.

CLSA maintained a high-conviction outperform rating on Varun Beverages, while it reduced the target price to Rs 774 from Rs 786 apiece, which implied a 51% upside from Tuesday’s close price.

Shanti Gold International IPO Allotment Status: Check Latest GMP, Listing Date And More

The initial public offering (IPO) of Shanti Gold International Ltd. witnessed strong demand across investor categories during the three-day subscription period from July 25 to July 29. The mainboard IPO was booked 81.17 times on Tuesday. The allotment process for the Shanti Gold International is expected to be finalised today, on Wednesday, July 30.

Q1 Results Today: IndiGo, Tata Steel, Power Grid, Hyundai Motor India And 111 Others To Declare Earnings

At least 115 companies are set to announce their Q1FY26 results on July 30. The results will cover their financial performance for the April to June quarter.

Major companies scheduled to declare their Q1 results on Wednesday include Hyundai Motor India, InterGlobe Aviation (parent company of Indigo Airlines), Tata Steel, Kaynes Technology and Punjab National Bank, among others.

Oil Prices Extend Gains To Third Day 

Oil prices continued to gain on optimism that there is potential of truce between Russia and Ukraine as US President Donald Trump warned of secondary sanction on Russia.

The October future contract of brent crude was trading 0.13% higher at $71.76 a barrel as of 7:42 a.m.

Asia Market Update: S&P ASX 200 Trade Higher After Inflation Declines 

The S&P ASX 200 rose after the inflation fell to the lowest point since March 2021. It was at 2.1% compared to 2.4% in the corresponding period of the previous year.

The S&P ASX 200 was trading 0.48% higher at 8,746.10 as of 7:24 a.m.

US Market Update: S&P 500 And Nasdaq 100 Futures Rise Slightly 

In Asia session, most futures of the US indices were trading with slight gains as market participants braced themselves for the outcome of the Federal Reserve policy meeting. The central bank may hold rate steady.

The S&P 500 and Nasdaq 100 futures were trading 0.04% and 0.11% higher, respectively.

GIFT Nifty Implies Tepid Open; L&T, NTPC, Lloyds Engineering, RIL In Focus

The GIFT Nifty was trading 0.01% or 1.50 points lower at 24,819.00 as of 6:34 a.m., which implied a flat-to-negative open.

Larsen And Toubro Ltd., NTPC Ltd., Lloyds Engineering, and Piramal Enterprises Ltd. shares are in focus because of first-quarter earnings.

India’s benchmark equity indices snapped a three-session decline to close higher on Tuesday as investors bought into large-cap heavyweights Reliance Industries Ltd. and HDFC Bank Ltd. Realty and pharmaceutical stocks also surged.

The NSE Nifty 50 settled 140 points or 0.57% higher at 24,821.1 and The BSE Sensex added 447 points or 0.55% to close at 81,337.8.

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