Latest Market News Today Live Updates July 5, 2024: Effwa Infra & Research IPO subscribed over 9 times so far on Day 1; Check GMP, price band, other key details of SME IPO

• Effwa Infra IPO price band is set at ₹78 to ₹82 per share. At the upper-end of the price band, the company aims to raise ₹51.27 crore from the IPO which is a combination of fresh issue of 53.17 lakh equity shares worth ₹43.60 crore and an OFS of 9.36 lakh shares worth ₹7.68 crore.

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• Yes Bank shares hit an intraday high of ₹25.90 apiece on the BSE, gaining as much as 8.09% from previous close.

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• BGR Energy Systems announces plans to raise funds via a rights issue of equity shares. The board’s approval initiates the process, with a Rights Issue Committee established to oversee it.

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• Government initiatives aimed at grid upgrades and the incorporation of cutting-edge technology are pivotal factors propelling the power transformer industry.

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• Expert view: Vaibhav Porwal, the co-founder of Dezerv, believes it is time to book profits in mid and smallcaps due to their rich valuation. At the same time, he sees see value in largecaps.

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• A majority of FPI inflows, nearly 65% of the total for the month, were concentrated in the financial services and telecommunications sectors. During the second half of June, FPIs injected ₹8,162 crore into the financial services sector, with total inflows for the month reaching ₹9,170 crore.

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• The Indian stock market’s bullish momentum faces potential risks like global economic uncertainties, macroeconomic factors, political risks, and regulatory actions.

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• Silver prices hit 3-week high on the MCX today, driven by soft US economic data hinting at Federal Reserve rate cuts. Markets expect a rate cut in September. Inflation easing, job market slump, and cooling economy support the case for a rate cut.

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• Budget proposals might influence market flows, especially if capital gains tax is tweaked
• If valuations remain high, FIIs may limit participation

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• RVNL share price today opened with an upside gap and climbed to a new peak of ₹455 on the NSE

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• Ahluwalia Contracts (India) shares surged 18% to a new high of ₹1,542 apiece after the company secured a ₹572 crore construction order from the Airports Authority of India.

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• Multibagger stock: Ircon International share price rose by 5.5% after its joint venture secured a ₹751 crore order. The company reported a 15.1% increase in profit after taxes for the quarter ending in March 2024. Its total order book stood at ₹27,208 crore.

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• Following shares hit their 52 week low today – Mep Infrastructure Developers, Praxis Home Retail, Future Supply Chain Solutions, FILATEX FASHIONS

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• Following shares hit their 52 week high today – Bharat Electronics, Divis Laboratories, Siemens, Trent, ICICI Bank

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• HUDCO share price has given multibagger returns of more than 165% year-to-date (YTD) and over 468% in the past one year period. The stock is up over 538% in three years.

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• Let’s explore which Tata Group stock, between Tata Motors and Tata Steel, presents superior long-term investment prospects.

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• Bonus shares 2024: After price adjustment, Remedium Lifecare share price today opened upside and touched an intraday high of ₹20.94 apiece, logging an intraday rise of 20% on Friday

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• Mahindra Lifespace Developers’ shares surged 6% to ₹647 following the announcement of real estate deals worth ₹2050 crore. The deals include a redevelopment project in Mumbai and land acquisition in Bengaluru, strengthening the company’s presence in dynamic real estate markets.

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• Gold And Silver Prices Today:Gold And Silver Prices Today : 10 gm of 24 carat gold was at Rs.73629.0 in Delhi whereas 1 kg of silver was Rs.90200.0 in Delhi.

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• Stock in focus: Rajesh Palviya has recommended to buy, hold, and accumulate Laurus Labs Ltd, Lupin Ltd, and Rites Ltd today.

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• Nephro Care shares were listed at ₹171 apiece on the NSE SME, a premium of 90% to the IPO price of ₹90 per share.

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• Emcure Pharmaceuticals IPO aims to utilise funds to reduce long-term debt and focus on important therapeutic fields like gynaecology. The IPO is fairly valued, and investors are advised to subscribe for long-term benefits.

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• Bansal Wire IPO GMP: Shares of the company are available at a premium of ₹65 in the grey market today, say market observers

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• Stock Market Today: Raymonds share price rises up to 7% during opening trades on Friday as the company announced vertical demerger of its Real Estate Business

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• HDFC Bank share price fell as advances declined 0.8% quarter-on-quarter (QoQ) to ₹24.87 lakh crore at the end of June 2024 as compared to ₹25.1 lakh crore at the end of March 2024.

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• Two mainboard IPOs, Bansal Wire Industries and Emcure Pharmaceuticals, valued at ₹745 crore and ₹800 crore respectively, witnessed high subscriptions on the second bidding day. Experts suggest better allotment chances in the pharma company due to its larger size and established business model.

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• Stocks to buy or sell: Sumeet Bagadia has recommended buying thse five breakout stocks today — MBL Infra, Astrazeneca Pharma, Ge Power, Galaxy Surfactants, and NELCO

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• Bitcoin price hit an all-time high of $73,798 in March, buoyed by strong demand for inaugural US Bitcoin exchange-traded funds. However, the inflows in the token ETF have since ebbed, weighing on the Bitcoin prices.

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• Stocks to buy today: Experts have recommended buying these five buy-or-sell stocks: Bharat Dynamics, Aurobindo Pharma, Exide Industries, Bank of Baroda, and HCL Technologies

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• JPMorgan’s Marko Kolanovic had a knack for making aggressive calls, but now the analyst is out after missing a roaring bull market.

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• The trends on Gift Nifty also indicate a muted start for the Indian benchmark index. The Gift Nifty was trading around 24,265 level, a discount of nearly 12 points from the Nifty futures’ previous close.

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• Indian stock market: Gift Nifty was trading around 24,360 level, a discount of nearly 17 points from the Nifty futures’ previous close, indicating a muted start for the Indian stock market indices.

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• Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — RCF, NOCIL, and NLC India

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