Stock Market LIVE Updates: GIFT Nifty indicates a flat start; US, Asian markets gain

RateGain Travel Technologies has been selected for a multi-year partnership by Malaysia Airlines Berhad, the national flag carrier of Malaysia.

This strategic collaboration will see Malaysia Airlines leveraging RateGain’s advanced AirGain platform to boost its competitive edge through superior pricing intelligence capabilities.

#1 Reported Q1FY25 consumption growth slower than assumption

#2 Phoenix marketcity Mumbai and Palassio Lucknow saw double-digit growth

#3 Balance was contributed by new malls

#4 Looking at Q4 moving average number, growth has been 23-24 percent YoY last 4 quarters

FMCG major Godrej Consumer has noted that operating conditions in the first quarter have remained soft, but despite the challenging environment, the India business has clocked high single-digit organic volume and mid-single digit value growth.

Overall, Godrej Consumer’s reported growth will be double-digit in volume and high-single digit in value terms, the company said in its business update released on July 8. At a consolidated level, GCPL expects flattish INR sales, double-digit constant currency sales growth and double-digit EBITDA (reported) growth. Read More

#1 Delhi airport T1’s forecourt canopy recently collapsed post heavy rains

#2 Post the canopy collapse, most of the T1 air traffic has been temporarily moved to T2 & T3

#3 T1 handles domestic traffic only, thus international traffic & related revenue streams remain unaffected

#4 Management is working with concessionaires at T2/T3 to ramp-up services for raise passenger flow

Bharat Road Network ahs informed that Orissa Steel Expressway Private Limited (OSEPL), one of the subsidiaries, received a letter dated June 21, 2024, from the office of the Regional Director (North Region), Ministry of Corporate Affairs (MCA), regarding an inspection under Section 206(5) of the Companies Act, 2013.

City gas distributor Mahanagar Gas Ltd (MGL) has raised prices of CNG and domestic piped natural gas (PNG) in and around Mumbai starting July 9, to offset rising input cost.

MGL will increase the price of delivered CNG by Rs 1.5 per kg, while domestic PNG will see a hike of Re 1/SCM, the state-run firm said in a statement. Read More

Akums Drugs and Pharmaceuticals has received Sebi approval to raise funds through an initial public offering (IPO), an update with the markets regulator showed on Monday.

Gold Plus Glass Industry, Ceigall India, and Orient Technologies also obtained the regulator’s nod to float their initial share sale offers.

These companies had filed their preliminary IPO papers with Sebi in February. The regulator’s observations were obtained from June 29 to July 2, 2024, according to the update. Read More

#1 Initiate outperform call on Persistent Systems, target Rs 5,920

#2 Initiate outperform call on KPIT Technologies, target Rs 2,120

#3 Initiate market perform on Coforge, target Rs 6,080

#4 Initiate underperform on Tata Elxsi, target Rs 6,030

#5 Believe ‘specialist’ engineering services focussed on software & auto have long headroom of growth

#6 ‘Specialist’ engineering services s have partnership with global innovators like Microsoft, Tesla

#7 The engineering services have built strong sales & management capability

L&T Semiconductor Technologies, a wholly owned subsidiary of L&T, has entered into a share purchase agreement on July 8, 2024 for acquisition of 100 percent stake in SiliConch Systems.

The said acquisition is expected to be completed by 15th September 2024, subject to customary closing conditions.

The acquisition cost consists of an upfront amount of Rs 133 crore payable at closing, subject to customary closing adjustments; and a deferred amount of Rs 50 crore payable over 4 years, subject to closing adjustments and achievement of certain targets and other conditions.

#1 Positively leveraged to digital ad spends

#2 Company is well positioned to benefit from recovery in mobile-ad budgets

#3 Company’s RoE focused M&A strategy should see business turnaround in large DM markets like the US

#4 Expect 20 percent topline CAGR over FY24-27 & 400 bps EBIT margin expansion over the period

#5 Value co at 48x Mar’26 P/E

Inox Wind has bagged an order for 200 MW from a renewable C&I power producer. The order is for IWL’s latest 3 MW Wind Turbine Generators (WTGs) and the scope comprises of end-to-end turnkey execution. Additionally, Inox Wind will provide post commissioning multi-year operations & maintenance (O&M) services. The project will be executed across the states of Gujarat and Rajasthan.

The Sri Adhikari Brothers Television Network board in its meeting held on 8th July 2024, appointed Markand Adhikari as a chairman & managing director of the company, for a further period of 5 years with effect from 18th August 2024 to 17th August 2029, liable to retire by rotation