The Bank of England (BoE) has cut interest rates for the first time in four years, following a close 5-4 vote by its policymakers. The central bank reduced borrowing costs by a quarter-point to 5.0%, with Governor Andrew Bailey leading the decision. He emphasized the BoE's cautious approach to future monetary policy adjustments.

The company also reported total domestic sales of 70,161 units in July 2024, marking an 11% YoY decline compared to 78,844 units sold in July 2023.

On Wednesday, the US Federal Reserve maintained its key interest rate at 5.25–5.5% for the eighth consecutive time, as expected, while signaling the possibility of a rate cut in its next meeting in September. From the Nifty stocks, Power Grid Corporation, Coal India, ONGC, HDFC Bank, and Dr Reddy's Laboratories were the top gainers, rising 2-4%. On the other hand, M&M, Tata Steel, Hero MotoCorp, Britannia, and Tata Motors ended with cuts.

The board has approved the scheme of demerger of Tata Motors into two separate listed companies. The merger of Tata Motors Finance with Tata Capital is also underway and expected to conclude over the course of next 9 to 12 months.

The demerger scheme also includes Adani Enterprises' strategic investment in Adani Commodities. The demerger will also provide scope for independent collaboration and expansion, it said.

The domestic brokerage firm in its report has stated that major white goods and durables companies have raised the product prices by 2%-4% across the segments since the prices of major commodities increased in June-July period on a YoY basis. However, there is a minimal impact on volumes due to strong demand trends.

Recently, the license of a liquor company whose stock had made a comeback after many years, was suspended due to alleged violation of child labour laws. The company went to court and got a stay and normal operations were resumed. The reason why this is important is because this throws a light on many risks which small players in the liquor industry face. Also, this has to be seen in light of the fact that success of one single brand has made few small cap liquor stocks do very well in the last one year. In a business which is controlled and taxed heavily and is exposed to political whims and fancy, it is probably better to own a set of stock than having exposure to one. Some of the large players who have multi-state operations are better placed than just a company which has exposure to just one state.

The company also reported total domestic sales of 70,161 units in July 2024, marking an 11% YoY decline compared to 78,844 units sold in July 2023.

The demerger scheme also includes Adani Enterprises' strategic investment in Adani Commodities. The demerger will also provide scope for independent collaboration and expansion, it said.

After the US Federal Reserve signaled a potential rate cut in September, the Nifty crossed the 25,000 milestone for the first time, while the Sensex surged past the 82,000 mark to reach a new record high on Thursday. Reflecting the positive sentiment in the benchmark indices, seven stocks from the Nifty50 index reached new 52-week highs during today's trading session. Here's the list:

Total income rose to Rs 2,024.5 crore in the April-June period of 2024-25 fiscal year from Rs 1,966.3 crore in the corresponding period of the previous year, according to a regulatory filing on Wednesday.

Mankind Pharma's shares fell 2% to Rs 1,985.50, despite the company announcing a 10% YoY rise in net profit to Rs 543 crore for the first quarter of FY25. Revenues increased 12% YoY to Rs 2,893 crore. Brokerages had mixed reactions, with Macquarie, Motilal Oswal, and Kotak Equities offering varied recommendations.

Coal India's stock rose 3% to a 52-week high following a 4% increase in net profit for the quarter ended June 2024. Analysts from JM Financial, Motilal Oswal, and ICICI Securities have expressed positive outlooks, citing strong volume growth and efficient cost management as major factors boosting the company’s performance.

The report further revealed that Adani Energy raised Rs 50,000 crore through the issue. More than 125 institutional investors participated in the fundraising of Adani Energy. The company has reported a consolidated net loss of Rs 824 crore for the quarter ended June 30, 2024, as against Rs 175 crore net profit in the year-ago period.

Global bond and equity markets experienced a surge after the Fed maintained interest rates steady and signalled a potential cut in September. Nasdaq increased by 2.64%, Nifty surpassed 25,000 for the first time, and Sensex rallied past 82,000. CME FedWatch tool shows that traders are pricing in 100% probability of a rate cut for Fed's 18th September meeting as Jerome Powell clearly stated that if inflation remains on the anticipated trajectory of 2%, a rate cut might happen as early as September

Mahindra & Mahindra's shares fell over 2% after the company reported a 5% decline in standalone Q1 net profit to Rs 2,613 crore, despite a 12% rise in operational revenue. Leading brokerages, including BofA, JP Morgan, and Nuvama, remain optimistic, adjusting their target prices upwards.

Nifty surged 1,000 points in just 24 sessions as it moved from 24,000 to 25,000. According to ETMarket analysis, it took Nifty roughly 863 trading sessions to gain the last 10,000 points. The slowest 1,000-point increase occurred between 18,000 and 19,000, spanning about 426 sessions. Interestingly, Nifty accumulated the last 2,000 points in only 47 days. (Data Source: ACE Equity)

At a time when indices are making new highs, small and mid-cap stocks are moving higher and higher every day, talking about volatility and possibility of corrections is something not many may like. The fact is that Volatility does not give notice before coming so it is better to be prepared for it. Even in the best part of a bull run, corrective phases do come. As an investor, just be prepared for it. How does one prepare for it? One way is by sticking with large cap companies and that too one where there are some tailwinds for the business which will help them do better as compared to others in fundamental ways not just the stock price doing well.

A short buildup is when there is a rise in open interest and volumes along with a decrease in the price of the underlying stock in the Futures and Options segment. Short buildup means more people are expecting the prices to go down and creating short positions. In Thursday's trading session, five stocks witnessed a build of fresh short positions. Here's the list:

The brokerage firm Way2Wealth has identified several promising stocks as top Budget 2024 technical investment picks. Based on their technical strength and potential for decent returns, these stocks include BHEL, NTPC, AU Small Finance Bank, and Adani Green Energy. Here's the list:

Tata Steel shares rose 2% on Thursday, reaching Rs 168.80 on the BSE, following a report of a consolidated PAT of Rs 960 crore for the June quarter. However, revenue declined 8% year-on-year to Rs 54,771 crore. The board approved a scheme of amalgamation with Rujuvalika Investments and their respective shareholders.

Maruti Suzuki’s shares surged 4% to a 52-week high of Rs 13,675 on Thursday, following strong Q1 FY24 earnings. The company reported a 46.9% YoY increase in standalone profit to Rs 3,650 crore, exceeding estimates. However, Q1 revenue rose 9.82% YoY to Rs 33,875 crore, missing the estimate.

Infosys shares dropped by 1% following news of an investigation by the Directorate General of GST Intelligence regarding a Rs 32,000 crore GST evasion. Infosys clarified via a filing that GST should not apply to services by overseas branches and asserted compliance with all GST obligations.

Cognizant Technology Solutions saw a 22.2% rise in net profit for Q2 2024, reaching $566 million. Revenue was $4.85 billion, falling slightly from last year but exceeding Q1 figures.

Aprameya Engineering’s shares listed on the NSE SME platform at Rs 72, a 24% premium over the issue price of Rs 58. The fresh equity sale of 50.4 lakh shares was oversubscribed by over 150 times. Funds raised will support working capital and corporate needs. The company specializes in healthcare infrastructure and equipment supply for hospitals.

CLSA has reiterated its 'Outperform' rating on Coal India and increased the target price to Rs 580 from Rs 480. The firm noted that the first quarter was robust operationally, driven by lower costs. It anticipates continued resilient volume growth in the near term and, with a 5% dividend yield, considers the risk-reward profile to be compelling.

Nifty broke the 25,000 barrier, bolstered by upbeat comments from US Fed Chair Jerome Powell. The index's 1,000-point rise in 24 days marks its third fastest gain. While Q1 earnings were muted and valuations stretched, positive global trends and strong retail participation helped sustain the momentum.

SRF Ltd's stock, within the specialty chemical sector, reached a 52-week high of Rs 2,697 in May 2024 before stabilizing. Analysts believe it could soon hit Rs 3,000-Rs 3,200 levels, driven by a 'Bullish Engulfing' pattern and strength in moving averages, indicating a potential uptrend.

Trom Industries’ shares listed on the NSE SME platform with a 90% premium, debuting at Rs 218.5 compared to the issue price of Rs 115. The IPO, involving 27.27 lakh fresh equity shares, saw a robust response with over 400 times subscription. Proceeds will fund capital expenditures, working capital, and corporate purposes.

From the Sensex pack, Maruti Suzuki, JSW Steel, Tata Motors, Power Grid, and Adani Ports were the top gainers, rising 1-3.5%, while M&M, Infosys, UltraTech Cement, and Sun Pharma opened in the red.

From the Sensex pack, Maruti Suzuki, JSW Steel, Tata Motors, Power Grid, and Adani Ports were the top gainers, rising 1-3.5%, while M&M, Infosys, UltraTech Cement, and Sun Pharma opened in the red.

Vedanta has set August 3 as the record date for the dividend. Since August 3 falls on a Saturday, a market holiday, the ex-dividend date is August 2. Therefore, today is the last day to purchase the shares to be eligible for the dividend payment.

All listed Indian companies, including public sector firms, are required to maintain a minimum public shareholding of 25% as per the market regulator's rules.

Pre election poster boys are making a comeback

Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components — earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members.

Earnings season commenced with 88 companies announcing results. Key highlights included ITC, Sun Pharma, Tata Motors, Adani Enterprises, and Zomato reporting. ITC and Dabur anticipated revenue growth from cigarettes, hotels, and FMCG segments. Tata Motors projected strong profit growth. Zomato maintained robust performance from prior quarters, offering promising outlooks.

The BSE Sensex rose by nearly 286 points, achieving a record high, while Nifty remained above 24,950. Godrej Properties, Ambuja Cements, and Indus Towers were key stocks, showing various changes in their prices. Expert Riyank Arora provided stock recommendations based on existing chart patterns and trading volumes.

India's stock brokers are preparing for tougher times as the Securities and Exchange Board of India proposed stricter norms for equity derivatives. This is expected to hit profitability for discount brokers such as Zerodha, Groww, and AngelOne. BSE rose by 6%, while NSE’s unlisted shares declined 10-12%. High impact expected for Zerodha, Angel One, and Paytm Money.

The Federal Reserve reported notable advancements in reducing inflation, nearing its 2% target, hinting at a potential rate cut in September. Job growth has slowed and unemployment rates have increased. Despite this, the Fed maintained its key rate at 5.3%, facing pressure from some Democrats for rate reductions.

Tokyo stocks dropped over three percent on Thursday morning, impacted by a rise in the yen following the Bank of Japan's interest rate hike and the Federal Reserve's indication of a potential rate cut later in the year.

Duquesne Family Office, Driehaus Capital Management, and Jennison Associates have invested in Adani Energy Solutions' $1-billion qualified institutional placement. This marked their first venture into Indian equities. The oversubscribed QIP, attracting over ₹50,000 crore, will fund capital expenditure, smart meters, debt repayment, and other corporate needs.

Mid-cap and small-cap indices achieved new highs with strong retail investor interest. Nifty's Midcap 150, Smallcap 250, and Microcap indices all recorded significant growth. Analysts noted the influence of market liquidity, mutual fund investments, and anticipated US rate cuts as key drivers behind the positive sentiment and impressive gains.

Zee Entertainment Enterprises raised $239 million via foreign currency convertible bonds to bolster its financial position and drive growth strategies. This fundraising initiative aims to provide the necessary capital for both organic and inorganic expansion. The bonds attracted interest from various funds. Additionally, the company is addressing staff morale following a 15% workforce reduction.

The Bank of England considered cutting interest rates after maintaining them at a 16-year high of 5.25%. A close vote among policymakers was expected, with market probabilities suggesting a 66% chance of a quarter-point cut. Inflation trends and labor market conditions influenced this potentially crucial monetary policy decision.

The S&P 500 and Nasdaq reported their largest gains since February, buoyed by a chip stock rally. The Federal Reserve kept interest rates steady but hinted at potential easing in September. Technology stocks led market advancements. Nvidia's shares surged after a positive AI forecast by AMD, boosting the semiconductor sector.

On Wednesday, domestic markets saw a strong closure with Nifty rising 3% in July, driven by budget support and FII buying. Analysts predict ongoing momentum with sector rotation. Key data points include India VIX and global market trends. Significant Q1 results from companies like ITC and Sun Pharma are due on Thursday.

Asian markets and US futures climbed Thursday amid growing anticipation that the Federal Reserve will soon lower interest rates. The yen strengthened, leading to a drop in Japanese stocks. The US 10-year yield dipped to 4.03%, fueled by geopolitical events between Iran and Israel, and a shift in Fed policymakers' stance.

Markets experienced a slight uptick on Wednesday. Key companies such as ITC, Tata Motors, and Infosys will be under focus due to their quarterly results. Tata Steel and Coal India reported profit growths, while Infosys faces a GST investigation concerning Rs 32000 crore. Bank of Baroda and Sonata Software also posted their quarterly results.

While Fed officials are wary of any actions that could mar their data-not-politics approach to setting monetary policy, the steady drop in inflation in recent months prompted a broad consensus that the inflation battle was near its end.

Vedanta Ltd has gained approvals from BSE and NSE for its planned demerger into six separate listed companies, including oil and gas and aluminium. This step follows a nod from 75% of secured creditors, aiming to streamline corporate structure and attract global investors. Further statutory and regulatory approvals are awaited.