Today’s Rundown

Happy Monday! Today we are talking about some of the biggest headlines from these industries:

1. Pharma

2. Infra

3. Banks

4. Book Of The Day

Quote of The Day

“There is one side to the stock market, and it is not the bull side or the bear side, but the right side.” 

- Jesse Livermore

The Markets (As Per Friday’s Closing)

Notable Gainer & Loser

Rail Vikas Nigam (NSE: RVNL) +17.53%

• The railway PSU has recently signed a Memorandum Of Understanding (MoU) with Delhi Metro Rail Corporation Ltd (DMRC) for participation in upcoming projects in India and abroad such as Project Service Provider for Metro, Railways, High Speed Rail, Highways, Mega Bridges, Tunnels, Institutional Buildings and Depots, S&T Works and Railway Electrification.

• As of March 2024, the government held a 54.03% stake in the rail PSU.

HDFC Bank (NSE:HDFCBANK) -4.58%

• Nomura India in it’s latest note state that India’s third most valued stock HDFC Bank Ltd reported numbers lower than the usual in terms of both loan and deposit growths which tend to be seasonally soft for HDFC Bank in the June quarter.

Sector Overview 

Yesterday’s Highlights:

• India’s pharma industry to expect much from the 2024 Union Budget including incentives for training pharmaceutical employees, effective intellectual property rights for the pharma sector, domestic and global introduction to innovative therapies in India to address unmet needs, incentives to invest in bonds of pharma companies and expanding the list of life-saving drugs eligible for GST/Import duty exemptions including all oncology medication to improve patient affordability. (Source: Hindustan Times)

• Shares of Shilpa Medicare (SML) hit a multi-year high of Rs 672.50 as they rallied 16% on the BSE in Friday’s intra-day trade after the company’s contract development and manufacturing organization (CDMO) customer reported positive results from pivotal clinical trial and placed binding purchase order. (Source: Business Standard)

• Sun Pharmaceutical Industries Ltd has seen its share price rise almost 25% year-to-date. The Sun Pharma share price however also remains in focus due to the regulatory action by the US drug regulator pertaining to is Dadra and Halol manufacturing facilities. (Source: Livemint)

Top Gainers: (As Per Friday’s Closing)

• The Maharashtra state cabinet has instructed the executive committee of MMRDA to evaluate settling the Rs 1,700 crore debt owed by Mumbai Metro One Pvt Ltd (MMOPL), an arm of Reliance Infra, to its creditors through a one-time settlement. (Source: The Economic Times)

• Micro-cap stock Rachana Infrastructure Ltd is an India-based infrastructure and construction company engaged in constructing road projects on a bill of quantities (BOQ) and engineering, procurement, and construction (EPC) basis. It delivered a return of 200% in a month. (Source: Dalal Street Investment Journal)

• More large foreign manufacturers of heavy machinery used in the infrastructure sector figure in the list of more than 15,000 companies that have registered to set up units in the country during June, according to data compiled by the ministry of corporate affairs. Senior officials see this as the outcome of the increasing demand for such machinery as the government is making massive investments in highways, ports, airports and railway projects. (Source: Investing.com India) 

Top Gainers: (As Per Friday’s Closing) 

• State Bank of India is expected to enter the debt market next week, around July 10-11, to raise up to Rs 10,000 crore via infrastructure bonds, with Bank of India likely to follow a week later to raise Rs 5,000 crore. These bonds help reduce lenders' overall funding costs as they are exempt from CRR and SLR (Source: The Economic Times)

   

• Shares of India's top private lender HDFC Bank fell over 3% on Friday, a day after it reported a drop in loans during the three months ended June 30, and no rise in deposits from the previous three months. Shares of HDFC Bank - down 2.4% this year compared with gains of over 11% in the benchmark Nifty 50 index - were set for their biggest one-day drop since June 4. The stock had hit a record high earlier this week on hopes of a bigger weight in a key MSCI Index. (Source: Deccan Herald)

   

• Bandhan Bank has appointed Ratan Kumar Kesh as its interim managing director and chief executive officer with effect from July 10.The Kolkata-based private bank said the appointment is for a period of three months or until a new MD & CEO takes charge. Bandhan Bank said in April that CEO Chandra Shekar Ghosh would retire on July 9 after spending nearly a decade at the lender. (Source: Reuters)

Recommended Book Of The Day

A classic must read, a highly informative and accessible guide on how to identify and invest in winning stocks. Lynch, a legendary value-oriented investor, shares his proven strategies and personal experiences, making complex concepts easy to grasp. Whether you're a novice or an experienced investor, this book offers valuable insights and practical advice that can enhance your investment skills and understanding of the market. It's an essential read for anyone looking to succeed in stock investing.

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