Sensex scales 66,000 peak & retreats

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Here are the top personal finance news of the day:

Sensex breached the historic 66,000-mark for the first time in history in intra day trading today. The rally in 30-share BSE Sensex was led by Infosys, ICICI Bank and TCS. Global markets were buoyant today on account of moderation in US CPI inflation data. Global oil benchmark, Brent Crude, on the other hand was back to 80 dollar per barrel levels. The sensex lost momentum after touching the highs and closed 154 points up at 65,589.

Popcorn, Pepsi refills become unlimited at PVR Cinemas

PVR Cinemas has introduced pocket friendly prices for food and beverage items. The cinema chain said it is offering snacks and drinks at unbeatable prices. New offerings include bottomless popcorn and Pepsi apparently at old price with unlimited refills, available only during weekends, i.e. from Friday to Sunday. On weekdays, i.e. from Monday to Thursday from 9 am to 6 pm, movie goers can buy two samosas, or one burger or a combo of two sandwiches and one Pepsi at just 99 rupees.

Baba Ramdev selling his own shares at 16% discount

Stocks of Baba Ramdev’, Patanjali Foods, is available at discount of over 16%. After close of first day of the OFS, Patanjali Foods closed 5% lower on Thursday at 1,166 rupees per share. Baba Ramdev is selling his own company at over 16% discount. The OFS floor price is 1,000 rupees which is 166 rupees lower than Thursday’s closing price. Thursday was the first day of 2 days OFS. Only institutional investors were allowed to apply on the first day. But, retail investors can apply tomorrow on the last day and avail of 166 rupees discount. Baba Ramdev is slated to trim 7% stake in the company via the OFS. Institutional investors have given very positively response to the OFS so far.

Wipro misses street estimates

Wipro reported nearly 12% year on year jump in consolidated PAT in quarter ending June 30, 2023. Wipro’s reported its first quarter profit at 2,870 crore rupees. Revenues saw muted growth on yearly basis. While, on quarterly and yearly basis, Wipro has reported fall in both profit and revenue. Overall, Wipro missed street estimates. The stock closed at 394 rupees on the BSE on Thursday.

Mantri Finmart sees 15% rally in HDFC Bank

Mantri Finmart, founder, Arun Mantri has recommended two stocks which were in limelight today. First is Godrej Properties. While, second is Hindalco Industries. On Godrej Properties, Mantri has given buy call with target price of 1,710 rupees and 1,590 rupees stop loss. Mantri said Godrej Properties is looking ready to give a good momentum from current levels. His second buy call is on Hindalco Industries. He has given target price of 458 rupees and stop loss of 425 rupees on Hindalco. Mantri also sees 15% rally coming in HDFC Bank in very long term.

Retail investors go berserk over Utkarsh SFB IPO

Retail Investors have gone berserk over Utkarsh Small Finance Bank IPO. They have subscribed the IPO almost 36 times its potion. The total size of the IPO is 500 crore rupees. Its stock was trading at GMP of 15 rupees on Thursday. Earlier, it had garnered 223 crore rupees from anchor investors.

Prices of high end properties set to rise in Delhi

High end properties in Delhi will become more costlier. The Kejriwal government has hiked transfer duty on properties in Delhi to 4% from 3%, earlier. But this is only applicable on those properties registration charges in case of which amount to more than 25 lakh rupees. So, prices are all set to go up for only high end buildings.

Honda drives in new Dio 125 at Rs   83,400

Honda drove in NEW Dio 125 at 83,400 rupees.  The two wheeler boasts of 125 cc engine. There are two variants of the model, Standard and Smart. Some of other striking features are side stand indicator, multi-functional switch for unlocking seat and opening of external fuel lid,  and 171 mm ground clearance.

This PLI scheme approved company’s IPO is from July 17

Netweb Technologies has set IPO price band at 475 to 500 rupees. The initial share sale offer will hit the floors on July 17 and conclude on July 19. bidding for anchor investors will open on July 14. Total IPO size is 631 rupees which also includes an OFS. Meaning promoters will be trimming their stake in the IPO. Retail investors can subscribe 35% of the total IPO portion. Investors will have to bid for a minimum of 30 shares in one lot. Delhi NCR-based Netweb Technologies is one of the country’s leading high-end computing solutions providers. It is one of the few OEMs in the country. Netweb Tech has bagged contracts to manufactured goods under the Centre’s flagship PLI scheme. The company had profitable fundamentals in FY23.