Stock Market Live Updates July 3, 2024: Stock to buy today: Jyothy Labs (₹477.35): BUY

The ₹41.26-crore initial public offering of Kolkata-based Nephro Care India Ltd. created a record as it became the first SME offer to draw bids worth over ₹20,000 crore. The IPO on the NSE-SME platform received an overwhelming response from all category investors and was subscribed to a whopping 666.56 times. Read more

Shares of Allied Blenders and Distillers made a decent listing on Tuesday by gaining a little over 13 per cent. As against the IPO price of ₹281, the stock listed at ₹318.10 on the BSE and hit a high of ₹324.40 and a low of ₹306.70, before settling at ₹317.85, up 13.11 per cent over the IPO price. On the NSE, the stock closed at ₹317.90. Read more

Unlike the earlier instances, investors gave a cold shoulder to the fresh salvo fired by the US short-seller Hindenburg in response to SEBI’s show-cause notice in the case involving the Adani Group. Read more

The SEBI’s authority to take direct action against Hindenburg Research may fall into a grey area given the jurisdictional limitations, said experts. Read more

Divine Power Energy Ltd (DPEL) on Tuesday made a bumper listing following blockbuster IPO on NSE-Emerge platform. Read more

Ashok Leyland is preparing to launch its first-ever vehicle scrappage facility under a franchise model. Read more

Bengaluru-based Amrut Distilleries plans to ramp its production capacity by 30 per cent by December 2024. The company’s distillation capacity is set to increase from 1.3-.1.5 million litres per annum by the year’s end. It was tripled 1 million in 2018. Read more

The outlook for Jyothy Labs is bullish. The strong 5.75 per cent surge on Tuesday has taken the share price well above the ₹460-470 resistance cluster. The region between ₹465-460 will now act as a good support zone now. Any intermediate dips are likely to be limited to this support zone. Read more

The foreign room for HDFC Bank has risen to 25.9 per cent for the quarter ended June, making it eligible for a significant bump-up in weight at the upcoming MSCI index revision in August. Read more

TAFE Motors and Tractors Ltd, a wholly-owned subsidiary of leading tractor maker TAFE (Tractors & Farm Equipment Ltd) has signed an agreement with Germany-based Deutz AG, a manufacturer of internal combustion engines, to jointly manufacture the latter’s engines for tractor and industrial and generator applications. Read more

With two antibiotic products in the last mile ahead of a possible launch in India, Wockhardt Chairman Dr Habil Khorakiwala said, discussions to out-license them for overseas markets will start only after global approvals come in. Read more