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July 09, 2025

  • Daily Morning Report – Date: 9th July 2025
  • NIFTY OUTLOOK: 25,522.50 FII: -Rs. 26.12 cr DII: Rs. 1,366.82 cr
  • As discussed yesterday, market behaviour remained on expected lines. Nifty saw both-side movement and respected our support and resistance levels. It closed near our resistance of 25,513, settling at 25,522.5.
  • A bullish belt hold candle appeared on the daily chart, indicating that buyers are gaining control and boosting bullish sentiment. If Nifty continues with this momentum and crosses 25,570, it may rally towards 25,618–25,660. If demand strengthens further, it may test 25,706.
  • On the downside, 25,476–25,430 may act as immediate support. A break and sustained move below these levels could drag Nifty to 25,385–25,340.
  • Bank Nifty Outlook
  • Spot: 57,256.30 PCR: 0.97 Max CE OI: 56,000 Max PE OI: 56,000
  • On 8th July 2025, Bank Nifty closed at 57,256.30, up 0.54% from the previous day. The index moved 380.25 points during the session, hitting a high of 57,303.30 and a low of 56,923.05.
  • Technical View (Daily Chart)
  • Key support and resistance are placed at 56,750 and 57,580 respectively.
  • Intraday Strategy
  • Go long above 57,360 with SL at 57,310 and target 57,460.
  • Go short below 57,150 with SL at 57,190 and target 57,047.
  • Indicators
  • RSI stands at 61.10 (above 70 is overbought, below 30 is oversold).
  • Bank Nifty is trading above all 8 SMAs (5, 10, 20, 30, 50, 100, 150, 200-day).
  • A bullish candlestick pattern has been identified.
  • • Belt Hold Uptrend
  • Macros.
  • 1. Dollar index @ 97.20
  • 2. Vix @ 16.75 ( -5.79 %)
  • 3. Brent crude @ 7.11
  • 4. U.S. 10 year’s bond yield @ 4.42
  • Note: The Trump administration has started sending tariff-related letters to 10 countries in Asia and Africa. Notably, India and the European Union were excluded, which analysts interpret as a sign that trade deals with these regions may be close.
  • These tariffs will take effect from 1st August, but experts believe most deals will be finalised before then, minimizing any real impact.
  • FIIs' net long position has dropped from 38% to 28%, indicating a cautious stance. FIIs were net sellers across all segments, offloading around Rs. 1,925 cr worth of various instruments. The broader market witnessed some pressure, with profit booking in mid-caps and small-caps.
  • Conclusion: After a strong run last month, Indian markets are now trading in a narrow range of 290 points (25,379–25,668). Until this range is broken on either side, expect continued range-bound and choppy sessions.
  • Contributed by
  • Ashok bhandari : INH000019549
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  • BEAT THE STREET BULLETIN
  • Date: 08 JULY 2025
  • Telegram: [t.me/beatthestreet10]
  • ORDER WIN
  • BHARAT ELECTRONICS (BEL): Bags National Maritime Domain Awareness (NMDA) project from Indian Navy on turnkey basis.
  • WELSPUN ENTERPRISES: Subsidiary wins ₹23 crore arbitration claim against Odisha State Road Transport Corporation.
  • ARTEFACT PROJECTS: Wins ₹5.1 crore NHAI highway consultancy contract for Odisha project.
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  • ACQUISITION
  • SOUTH WEST PINNACLE: Acquires 1.56% stake in Australia’s Alara Resources for ₹2.8 crore to expand mining exposure in Oman.
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  • COLLABORATION
  • HCLTECH: Partners with Workday as Sales Partner to boost AI-led HR transformation via GenAI-powered platform “AI Force”.
  • ---
  • LEADERSHIP CHANGES
  • ZEE ENTERTAINMENT: Shareholders approve appointment of Divya Karani and Saurav Adhikari as new directors via postal ballot.
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  • FUNDRAISING
  • VISHAL FABRICS LIMITED: Allots 80,67,176 equity shares at ₹30.60 each to Elysian Wealth Fund via preferential issue.
  • MAHINDRA LOGISTICS: Board meeting on 11 July 2025 to consider fundraise via rights issue, QIP, or other routes.
  • CELLECOR GADGETS: Approves fundraise of up to ₹250 crore via QIP/FCCB and hikes borrowing limit to ₹1,000 Cr.
  • H.G. INFRA ENGINEERING: Board to consider NCD issuance via private placement on 14 July 2025.
  • RELIGARE ENTERPRISES: Board meeting on 11 July 2025 to consider preferential issue fundraising.
  • ---
  • FII STAKE CHANGES / BOUGHT-SOLD
  • INDIA SHELTER FINANCE CORP: *Nexus Opportunity Fund II* sold 50 lakh shares (4.63%) at ₹850.85; *Kotak MF* bought 45.28 lakh shares (4.19%) at ₹850.87.
  • STALLION INDIA FLUOROCHEMICALS: *Neomile Growth Fund* sold 5.78 lakh shares (0.73%) at ₹96.63.
  • PUSHPA JEWELLERS: *Sunflower Broking* sold 1.65 lakh shares at ₹122.95.
  • TVS INFRASTRUCTURE TRUST: *Ambit Wealth* sold 41 lakh shares at ₹101.98; *Sargam Retails* and *Serum Institute* bought 19 lakh and 14.75 lakh shares respectively at ₹102.
  • ARIHANT ACADEMY: *Bhavya Kataria* bought 0.33 lakh shares (0.55%) at ₹275.
  • ELGI EQUIPMENTS: *SBI Mutual Fund* bought 18.12 lakh shares (0.57%) at ₹532.
  • ATEN PAPERS & FOAM: *Pentateam Inventure Capital* sold 0.80 lakh shares (0.78%) at ₹40; *Neo Apex* and *Kaushal Rajput* bought same quantity at ₹39.33 and ₹40.
  • SRIGEE DLM: *Neo Apex Venture LLP* bought 0.36 lakh shares (0.60%) at ₹316.75.
  • ERAAYA LIFESPACES: *Blue Square Corporate Services* bought 10 lakh shares (0.52%) at ₹42.43.
  • ---
  • Q1 / BUSINESS UPDATE
  • UNION BANK: Domestic retail loans rose 25.6% YoY to ₹2.28 lakh Cr in Q1FY26; global business up 5.01% YoY.
  • SIGNATURE GLOBAL: Q1FY26 pre-sales down 15% YoY to ₹26.4 bn; net debt up to ₹8.9 bn; acquired 9.96 acres in Sohna.
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  • CLARIFICATION
  • HINDUSTAN ORGANICS: Refutes fire incident reports; confirms smooth operations and safety compliance.
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  • INCORPORATE / CORPORATE STRUCTURE
  • CAPRI GLOBAL: Incorporates 100% subsidiary to enter merchant banking; to offer IPO, M\&A, and structured finance services.
  • TOLINS TYRES: To incorporate wholly owned subsidiary ‘Terra Rubber’ for rubber recycling and EPR compliance in Kerala.
  • THERMAX: Step-down unit First Energy 11 Pvt Ltd to lose wholly owned status after share subscription by Garden Silk and FEPL.
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  • IPO
  • VALOR ESTATE: Hotel demerger ex-date expected in 3–4 days, as per NDTV Profit.
  • ---
  • LAUNCHES
  • DIXON TECHNOLOGIES: Forms 50:50 JV ‘Lightanium Technologies’ with Signify for lighting OEM business in India.
  • ---
  • OTHERS
  • IGL: Ban on overage vehicles in Delhi deferred until 1 November, according to CAQM sources.
  • SHARE INDIA: Invests ₹30 crore in Metropolitan Stock Exchange, acquiring 1.36% stake.
  • MONARCH NETWORTH: To invest ₹40 crore in MSEI for 1.82% post-issue stake; signs SSA on July 8, 2025.
  • INFLUX HEALTHTECH: Expands Kolgaon facility by 40% via ₹1.91 crore capex to meet rising demand and boost scalability.
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  • LUPIN: Signs global license and supply agreement with Zentiva for biosimilar Certolizumab Pegol.
  • The deal excludes markets like India, Australia, Japan, Brazil, and the Philippines.
  • Lupin will develop and manufacture the product, while Zentiva handles commercialization in Europe and CIS.
  • The company stands to earn up to \$50 million in milestone payments, including \$10 million upfront.
  • This deal strengthens Lupin’s biosimilar presence in the US, Canada, and emerging markets.
  • 360 ONE WAM: Gets CCI approval for acquisition of UBS India Wealth Business through its subsidiaries.
  • The deal involves business transfer agreements with UBS AG and its Indian affiliates.
  • Acquisition will be executed via 360 ONE Distribution Services, Portfolio Managers, and Prime.
  • With all regulatory conditions met, the company will proceed with integration.
  • The move expands 360 ONE's wealth management presence and client base in the HNI segment.
  • PETRONET LNG : Petronet LNG Gets Interim Relief from PNGRB's New LNG Terminal Regulations
  • TATA TECH ; Tata Technologies & Emerson Team Up for Next-Gen Mobility Testing Solutions
  • ICICI BANK ; Subsidiary ICICI Prudential AMC Files DRHP for IPO; ICICI Bank to Buy Additional 2% Stake
  • Hind Copper, Vedanta : Trump imposes 50% import duty, international copper prices jump 13%
  • CABLE AND WIRE STOCKS/CONSUMER DURABLES : TRUMP IMPOSES 50% COPPER IMPORT TARIFFS-SHARPEST SINGLE DAY RALLY SINCE 1989
  • 35-40% OF RM COSTS IS COMPRISED OF COPPER-FOR CABLE AND WIRE COMPANIES
  • THIS IMPACT COME WITH 2-3 MONTHS LAG
  • JEFFERIES ON CONSUMER STAPLES
  • Upgrade Varun Bev, HUL & Asian Paints To Buy From Underperform
  • Upgrade Asian Paints To Buy, Target Raised To ₹2,830 From 2,200/sh
  • Upgrade Varun Beverages To Buy, Target Raised To ₹650 From *560/sh
  • Several Consumer Firms Have Faced Severe Issues In Past Few Qtrs On Growth
  • Competition & Margin Weighed On Share Prices
  • See Gradual Improvement In Some Issues, Even While Others Like Competition May Persist
  • However, Believe That Several Stocks Factor In These Risks
  • See Limited Downside But A Meaningful Upside In Case Of A Turn
  • R R KABEL ON COPPER TARIFFS, Says No Formal Notification Beyond The initial Statemen - Ndtv Profit
  • Implementation & Timeline Remain Unclear
  • Tariff On Copper Appears To Be Primarily Focused On Raw & Refined Forms
  • R R KABEL Says Clarity Still Emerging On Whether Value-Added Copper Products Will Be Included
  • Cathodes From Countries Like Japan To Find Way To IUS Warehouses In Near Term
  • CITI ON HPCL
  • (CMP: 453)
  • MAINTAIN BUY
  • TARGET: ₹510
  • Whilst Stock Is Up 21% Over Last 3 Mths, Still Offers Room For Further Near-term Upside
  • Robust Q1FY26 EBITDA, Translating Into EPS Of 22/sh (Approx 40% Of Full Year Estimate)
  • Upside To Marketing Margin Assumptions Given Low Crude Prices, Stable Retail Fuel Prices
  • Reduce Likelihood Of An Imminent Fuel Price Cut (HPCL Most Leveraged)
  • Possibility Of Some Mechanism To Compensate The OMCs For LPG Losses
  • Stock Offers 5% Dividend Yield; Opens New 90-Day +Ve Catalyst Watch
  • HSBC ON PAINT COS
  • Dealer Incentives Have Achieved Broad Parity Across Players
  • Broad Parity In Dealer Incentives Incrementally Positive In Terms Of Competitive Intensity
  • Birla Opus Paints' Rev Target Implies A High Throughput Per Tinting Machine, A Big Ask
  • Remain Optimistic About Underlying Industry Growth Improving In H2FY26
  • Buy Call On Asian Paints, Target Raised To ₹2,900 From 2,700/sh
  • Buy Call On Berger Paints, Target Raised To 640 From 620/sh
  • NOMURA ON PHOENIX MILLS
  • (CMP: 1,570)
  • INITIATE REDUCE
  • TARGET: ₹ 1,400
  • Slow Consumption Growth In Mature Malls
  • Ramp-up Likely FY28 Onwards
  • Valuation Appears Stretched
  • Retail Consumption CAGR At 9%/11% By FY27/FY30 Vs 40% Over FY22-25
  • Jefferies on Adani Energy
  • Maintain Buy with TP of Rs 1150
  • Locked-in for double-digit medium-term growth
  • Company has Rs 61600 cr transmission projects on hand, up 3.6x YoY
  • Distribution growth is steady in Mumbai, with Mundra having potential to offer upside
  • Smart meters is seeing progress in commissioning which is a key growth driver going forward
  • JPMorgan on Metal
  • Q1: Ferrous stocks to fare better vs aluminum producers
  • Steel: Steelmakers could see QoQ EBITDA growth, led by higher steel prices & lower coking coal costs
  • Aluminum: Hindalco and Vedanta should post QoQ EBITDA contraction due to lower LME prices
  • Mining: NMDC's Q1 performance likely to be better than COA
  • BERNSTEIN ON INDIAN MARKET
  • Earnings revisions was the best performing style of 2024, and we have been waiting for the style to become attractive again, we now find ourselves at this juncture.
  • Earnings revision is the only factor to be reasonably valued on absolute basis (at 10-vr avg) and to be one of the cheapest relative to the market.
  • More importantly, the portfolio is showing signs of bottom on earnings downgrades (after importantly, the portfolio is showing signs of bottom on earnings downgrades (after reaching extreme levels) on both absolute and relative showing signs of bottom on earnings downgrades (after reaching extreme levels) on both absolute and relative basis.
  • JPM on The Leela – Schloss Bangalore
  • IC OW, TP Rs 510
  • SBL’s sustained delivery of 40% ARR premium
  • 70%+ occupancy for owned portfolio by FY27
  • 10% like-for-like RevPAR CAGR over FY25-28
  • 46%+ operating EBITDA margin by FY26/27
  • Val inexpensive at 19x FY27E EV/ EBITDA
  • Jefferies On Adani Green
  • Buy, Target Rs 1300
  • Q4 Saw 2.6 GW Addition Vs 675 MW In 9MFY25
  • Q1FY26 Has Continued Pace With 1.6 GW Being Commissioned
  • Valuations at 60% Disc To Jan 2023 Peak
  • Promoter Infusion Of Rs 9,350 Cr To Keep B/S Intact For Execution
  • Nomura On Godrej Prop
  • Initiate Reduce, TP Rs 1900
  • Pre-sales Momentum To Be Weaker Than Expectations
  • Val Looks Stretched
  • Expect FY26 Pre-sales Of Rs 31,000 Cr Vs Guidance Of Rs 32,500 Cr
  • Vol driven Strategy Poses Risk Of Further Eq Dilution & Execution Challenges
  • Nuvama On Sobha
  • Buy, TP Rs 1784
  • Recorded Highes-ever Quarterly Pre-sales Of `2,080 Cr In Q1
  • Bengaluru’s Share In Sales Decreased To 32% & Is Overtaken By NCR With A 49% Share
  • Geographical Expansion Should Aid Sales Momentum
  • Softness In Housing Sales Vol A Concern
  • BAAZAR STYLE Management Says Target >25% Revenue Growth In FY26 With 7-8% SSSg V Earlier Target 25-30% revenue & 8-10% same-store-sales growth in FY26
  • CO AIMS TO OPEN 40-50 STORES IN FY26 V Earlier 40-50 stores in FY26
  • MOSL on Delhivery
  • IC Buy, TP Rs 480
  • Delhivery is India’s largest integrated 3PL provider
  • Rev grew at 32% CAGR over FY19–25, with EBITDA improving from a loss of Rs16b to Rs 3.7b profit
  • Est 14% rev CAGR over FY25–28E & EBITDA/APAT CAGR of 36%/52%, with RoE improving to 5.6%
Panchkarma