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#OnCNBCTV18 | Retail trends have been sluggish for last few qtrs, trend may continue till festive season. Mid to high single-digit growth expected in 2-w in H2

M&M continues to be top pick followed by Hyundai, Maruti, says Rishi Vora of #KotakInstlEquities to CNBC-TV18 pic.twitter.com/Zz1TUOWL8V

— CNBC-TV18 (@CNBCTV18Live) July 2, 2025

Tata Communications shares are up nearly 2% after brokerage firm Macquarie coverage on the stock.

As many as 2.08 crore shares change hands in three block deals

IndusInd Bank shares decline over 3% on negative brokerage note

SBI Card shares are down nearly 3% on negative brokerage note from Goldman Sachs

Inox Wind shares are up nearly 3% after Motilal Oswal initiated ‘buy’ rating on the stock

#CNBCTV18Market | Market opens flat, #Nifty near 25,600 pic.twitter.com/IT7OjNGuqq

— CNBC-TV18 (@CNBCTV18Live) July 2, 2025

Rupee closed at 85.52 Vs USD on Tuesday

L&T Tech selected by Traton Group as strategic engineering partner in global R&D transformation

June Cargo handling volume up 12% YoY at 41.3 mt

Q1 Cargo handling volume up 11% YoY at 120.60 mt

June Logistics Rail volumes up 14% YoY at 62,146 TEUs

Q1 Logistics Rail volumes up 15% YoY at 1.79 Lk TEUs#StocksToWatch | Here’s a list of stocks in focus going into trade today???? pic.twitter.com/TEbx414N9m

— CNBC-TV18 (@CNBCTV18Live) July 2, 2025

Before HDB Financial Services was listed on the stock exchanges today, July 2, brokerage firm Emkay Global initiated coverage on the stock with a ‘Buy’ rating, and a price target of ₹900 per share.

here#CNBCTV18Market | Here’s how the global market cues are placed this morning???? pic.twitter.com/BWgUZoUHKh

— CNBC-TV18 (@CNBCTV18Live) July 2, 2025

MS on Hero MotoCorp

Underweight Call, Target ₹3,765 per share

Company Had a 7.3% Market Share In The E2W Industry In June 2025

Launched Vida VX2 EVOOTER In Two Variants – VX2 Plus & VX2 Go

Model Offers Removable Batteries, Fast Charging, Smart & Connected Features

Partnered With Financiers To Offer BaaS, See It As An Interesting Launch With

Customer Response In Key Urban Markets Will Be A Key To Track

MS on Auto Sales

Channel De-stocking Drove Mid-high-single Digit Decline In PV Wholesales

2Ws Grew Mid-single Digits

China’s Rare-earth Curbs Are Starting To Weigh On EV Production

TVS, Eicher & M&M key positive Surprises while Bajaj, MSIL & Tata were negative Surprises In Terms Of Wholesales#CNBCTV18Market | #CLSA‘s underperform call on #AsianPaints: Target at `1,966/sh, Co has sought an opportunity (from CCI) to present its position. Believe this complaint will increase the scrutiny on the incumbent responses to new entrants pic.twitter.com/Y00i8yaMWa

— CNBC-TV18 (@CNBCTV18Live) July 2, 2025

GS On SBI Cards

Downgrade To Neutral, Target ₹1,006 per share

Sharp Re-Rating Balances Risk-Reward; Credit Costs & Growth To Be A Focus Near Term

Strong Price Performance Has Resulted In A Sharp Re-Rating Of The Company’s Valuation Multiple

loan growth revival as industry’s credit-card loan growth remains tepid

Still Believe Company Is Well Positioned To Deliver Strong Results In The Medium Term

GS On IndusInd BK

Downgrade To Sell, Target ₹722 per share

Structurally Weaker Franchise Now; RoAs To Reset Lower

Believe Bank Is Likely To Have A Weaker Growth Profile

Bank Likely To Have Weak Returns Even Post Normalisation Of Its Trajectory In H2FY26/FY27

Cut EPS By 25%/17% For FY26/FY27 To Reflect Likely Persistent Margin Pressure

Weak Yield Trajectory & Elevated Funding Costs

Valuations To Stay Below-Book On Poor-Visibility Of Turnaround

Shares of Dreamfolks Services Ltd. will be in focus on Wednesday, July 2, after the company informed the exchanges of certain program closures, which could have a material impact on its financials.

here#SBI to report the loan account of the co as ‘fraud’ , to report the name of Anil Dhirajlal Ambani (Erstwhile Director Rel Comm) to the RBI: #RelianceCommunications says

Alert : Rel Comm is under the corporate insolvency resolution process under IBC

Alert: A resolution plan… pic.twitter.com/mkd3SG5Ukq

— CNBC-TV18 (@CNBCTV18Live) July 2, 2025

CCI orders an investigation against the company for abuse of dominant position. DG CCI to complete probe in 90 days. CCI has prima facie found that Asian Paints has violated India’s anti-trust laws. Decision taken in response to complaint filed by Grasim Industries.

WEDNESDAY CUES

US equities see a mixed session

Nasdaq ends close to 1% lower; Dow gains on rotation away from tech stocks

Jeff Bezoz sells Amazon shares worth $737m as part of a pre-declared plan

S&P 500 forms ‘golden cross’ – 50 DMA crosses above 200 DMA

Trump’s mega tax & spending bill narrowly passes through the US Senate

Bill to head to House of Representatives; Administration eyes July 4 target

US yields edge higher after passage of ‘Big Beautiful Bill’ in Senate

Dollar index falls below 96.50 on Tuesday before showing recovery

Powell at an ECB event in Portugal: Would have cut rates by now if tariffs hadn’t been announced

Powell

“In effect, we went on hold when we saw the size of the tariffs, and essentially all inflation forecasts for the United States went up materially as a consequence of the tariffs.”

ADP Pvt sector employment report today; US NFP due on Thursday

Nifty continues to consolidate around 25500

Paint segment remains in focus

CCI Orders Investigation Against Asian Paints For Abuse Of Dominant Mkt Position

CCI: Prima Facie Evidence That Asian Paints Has Violated Antitrust Laws

Are High frequencies indicators indicating softer Growth?

1: GST collections growth at 6.2%, slowest growth in 50 months

GST collections at ₹1.84 lakh crore Vs 2.36 lakh crore QoQ

2 Domestic Passenger Vehicle in slow gear, M&M bucks the trend

Maruti -13%

M&M 18%

Tata Motors -14.8% (42-month low)

Hyundai -12%

3: Q1FY26 advance tax growth at 3.6% YoY

What to watch today

• DII Net Buy 771.08 Crore in Cash (12,921.96 – 12,150.88 Crore)

FII Net Sell 1,970.14 Crore in Cash (11,556.94 – 13,527.08 Crore)

HDB financial listing

The company raised 12500 crore via IPO and received a Strong subscription of 16.7X

Auto sales – Maruti Sales Down 6.3% At 1.68 Lakh Units Vs 1.79 Lakh Units (YoY)

Hero Sales up 10% at 5.54 Lakh Units, ahead of estimate

Progress on India–US trade deal

HDB Financial Services, one of India’s largest non-bank lenders and the biggest IPO of 2025 so far, is set to debut on the stock market today, July 2.

Click for More

Maharashtra will launch toll-free numbers for consumers to report complaints against food delivery platforms like Swiggy, Zomato, and Zepto.

Food and Drug Administration (FDA) inspections found expired and unhygienic food at several warehouses.

Notices were issued to 34 establishments, 5 were ordered shut, and 1 license was suspended.

Click for More

Oil steadied after a modest advance with tensions in the Middle East and US inventories in focus.

Brent crude traded near $67 a barrel after rising 0.6% on Tuesday, with West Texas Intermediate above $65. Iran is said to be cutting off communication with key United Nations watchdog officials, deepening uncertainty over its nuclear program and adding ambiguity to its diplomatic showdown with Washington. Meanwhile, US President Donald Trump said Israel had agreed to the conditions needed for a 60-day ceasefire in Gaza.

here#CNBCTV18Market | #GIFTNifty higher, trading at a premium of more than 40 pts from Nifty Fut Tuesday’s close, indicates a start in the green for the Indian market pic.twitter.com/QoqvIY17Qw

— CNBC-TV18 (@CNBCTV18Live) July 2, 2025

Asian shares edged lower at the open after President Donald Trump said he won’t delay the July 9 deadline for imposing higher levies on trading partners.

here

Going into the new week, the Nifty had gained close to 700 points in four trading sessions. Monday saw the Nifty trade in a narrow range, which became narrower during Tuesday’s trading session.

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