Top Gainers and Losers in the Indian Stock Market July 5

by | Jul 5, 2024 | 0 comments

Latest Update Indian Stock Maret July 5

The Indian stock markets maintained their upward trajectory for the third consecutive day on July 5. Despite minor fluctuations, investor sentiment remained robust. The Sensex concluded the day slightly down by 72.47 points, or 0.09 per cent, at 79,977.20, while the Nifty showed a marginal increase of 12.00 points, or 0.05 per cent, closing at 24,314.20. Out of the total shares traded, 1,820 advanced, 1,588 declined, and 74 remained unchanged. Let’s delve into the specifics of the top-performing and underperforming stocks that marked the day’s trading session.

1. Titan: A Notable Decline

CMP: Rs 3,274 | Titan witnessed a decline of over 1 per cent on July 5 following a downgrade by Kotak Institutional Equities. The brokerage firm revised its rating from ‘add’ to ‘reduce’, citing an unfavourable risk-reward scenario. This move reflects the Indian stock market’s cautious stance towards the stock despite its strong historical performance.

2. Defence Stocks: Impressive Surge

Defence sector stocks were in the limelight, experiencing a surge of up to 13 per cent. This rally was driven by an announcement from the defence minister, highlighting the unprecedented growth in the country’s defence production for the fiscal year 2023-24. This positive news boosted investor confidence in defence companies, leading to significant gains.

3. RBL Bank: Facing Challenges

CMP: Rs 262 per share | Shares of RBL Bank fell by over 1 per cent on July 5. The decline followed the bank’s quarterly business update, which reported a sequential decrease in total deposits and current account savings account (CASA) balances for the first quarter of FY25. This development raised concerns among investors about the bank’s growth trajectory.

4. Raymond: Hitting Record Highs

CMP: Rs 3,240 | Raymond’s stock reached a record high of Rs 3,240 on July 5. This milestone was achieved after the company announced the demerger of its real estate business, Raymond Realty. The strategic move is expected to unlock value for shareholders and enhance the company’s focus on its core businesses.

5. Gabriel India: Strong Performance

CMP: Rs 498 | Gabriel India received a bullish outlook from brokerage firm Elara Capital, which initiated coverage with a ‘buy’ rating and a target price of Rs 624 per share, representing a 30 per cent upside from the current market price. Gabriel India holds a dominant 31 per cent market share in India’s two-wheeler suspension segment, contributing significantly to its total sales.

6. Kalyan Jewellers: Positive Momentum

CMP: Rs 495 | Kalyan Jewellers saw its stock rise by 0.9 per cent in the stock market on July 5, buoyed by a strong business update for the first quarter of FY25. Despite the volatility in gold prices and a challenging base, the company reported robust operating performance across its operations in India and the Middle East, boosting investor sentiment.

7. HDFC Bank: Soft Quarter

CMP: Rs 1,650 per share | HDFC Bank, India’s largest private sector lender, saw its stock decline by over 4 per cent on July 5. The decline followed a somewhat disappointing business update for the first quarter of FY25. While the bank reported a substantial 52.6 per cent year-on-year growth in gross advances, the figure was down 0.8 per cent quarter-on-quarter, driven by a reduction in corporate and wholesale loans.

8. RVNL: New Heights Achieved

CMP: Rs 491 | Rail Vikas Nigam Limited (RVNL) hit a new record in the Indian stock market as high of Rs 498 per share after signing a memorandum of understanding (MoU) with Delhi Metro. This development is expected to significantly enhance RVNL’s project portfolio and future revenue streams, making it an attractive investment.

9. Angel One: Recovery in Progress

CMP: Rs 2,361 | After enduring a four-day losing streak, Angel One’s shares rebounded by 3 per cent in the Indian stock market on July 5. The recovery was attributed to revised market intermediary charges and a notable increase in the company’s client base and the number of orders processed in June. Angel One’s client base grew by 3.7 per cent month-on-month to 2.47 crore, marking a 64.2 per cent year-on-year increase.

10. YES Bank: Significant Gains

CMP: Rs 26 | YES Bank experienced a substantial jump of over 11 per cent on July 5, following a positive business update for the first quarter of FY25. The bank reported a 15 per cent year-on-year increase in advances, reflecting its strong recovery and growth trajectory.

Conclusion

The Indian stock market on July 5 was marked by notable performances across various sectors. Defence stocks led the gains, driven by positive governmental announcements, while financial stocks such as HDFC Bank and RBL Bank faced challenges due to less-than-expected quarterly updates. Stocks like Raymond and Gabriel India demonstrated strong performance driven by strategic moves and positive market outlooks. Investors should continue to monitor these developments closely as they reflect broader market trends and sectoral performances.

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