Stock Market Highlights: Nifty 50 holds on to levels above 25,400 with RIL being top contributor

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Market remains in a consolidation phase, ends near flatline.

Nifty gains 10 points to 83,443 & Sensex flat at 25,461.

Nifty Midcap index falls 162 points to 59,516 & Nifty Bank 83 points to 56,949.

FMCG cos see a close largely in the green following Q1 updates.

Four of top six Nifty contributors are FMCG names (HUL, Nestle, Tata Cons & ITC).

Lower crude move keeps cos like ONGC & Oil India under pressure.

Info Edge ends 4% lower as co reports lowest billing growth in 4 quarters.

Jubilant Food slips despite healthy Q1 update, Dabur rises after a weak update.

Godrej Cons is top midcap gainer, rises 6% on strong quarterly update.

Defence names see a close largely in the red, BEL is top Nifty loser.

ICICI Lombard slips while New India Assurance closes off lows post prem data.

PB Fintech sees a major recovery in the last hour, ends at day’s high.

Oil marketing cos close with gains tracking crude move, up 1–2%.

Dreamfolks extends losses, slips another 6% today.

JP Power sees huge buying, stock closes the day 19% higher.

BSE fails to hold the recovery, closes the session near flatline.

Market breadth favours declines, advance-decline ratio at 2:3.

Borosil Renewables expects a ₹27 crore jump in quarterly profit after its German subsidiary GMB Glasmanufaktur Brandenburg GmbH filed for bankruptcy and ceased operations. The company has stopped funding the unit, which was posting losses of nearly ₹9 crore each month due to weak local demand and rising competition from Chinese imports.

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General Insurance Data#JustIN | 56th GST Council meet could get further delayed, govt likely to convene GST council meet during or post monsoon session

Sources to @TimsyJaipuria pic.twitter.com/4Zii8y0fUU

— CNBC-TV18 (@CNBCTV18Live) July 7, 2025

RK Baheti has stepped down from his role as Chief Financial Officer of Alembic Pharmaceuticals, effective July 7, 2025.

Sources indicate that a government panel is expected to meet today to discuss the IDBI Bank disinvestment.

The Inter-Ministerial Group (IMG) may review the Share Purchase Agreement (SPA) along with other matters. Following the IMG meeting, the Core Group of Secretaries will examine the SPA before it goes to the ministerial panel for final approval.

The Finance Minister has stated that the IDBI deal is likely to conclude in FY26. The government will invite financial bids after completing internal approvals on the SPA.

Prestige Estates’ subsidiary has acquired an additional 49% stake in Prestige Notting Hill Investments for ₹300 crore.

Janumahanti Lakshmana Rao, Chairman and MD of Mold-Tek Packaging, suggested that the recent tie-up between JSW Paints and Akzo Nobel India — a long-time client of Mold-Tek — may open up potential business opportunities with JSW Paints in the future.

More Information

A snapshot of the top 5 IPOs by issue size in FY26, including their listing gains and current stock performance as of July 7, 2025.

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Here are a couple of stock recommendations by Ruchit Jain of Motilal Oswal Financial Services

Buy Indraprastha Gas (IGL) for a target price of ₹238 with a stop loss of ₹217.

Buy CESC for a target price of ₹194 with a stop loss of ₹175.

Shares of Petronet LNG Ltd. gained as much as 3% on Monday, July 7, after they received an upgrade from brokerage firm Motilal Oswal.

In an exclusive conversation with CNBC-TV18, Rajiv Memani of CII said the government has engaged extensively with industry stakeholders on free trade agreements (FTAs). While FTAs may not benefit all sectors equally, he expressed hope that India will finalise its trade deal with the US before the deadline.

He added that CII members are concerned about the potential imposition of an additional 26% US tariff. Memani also stressed the need for industry and government collaboration to boost competitiveness and highlighted the seriousness of rare-earth supply shortages.

Eureka Forbes | Partners With Dixon Technologies For Its Vacuum Cleaners Portfolio

Dixon Tech shares rose by over 2%

Shares of Gravita India Ltd. had closed the March 31, 2021 session at ₹90.5. Four years later, on March 31, 2025, the stock was at ₹1,832, a return of 1934% in four years.

Jefferies anticipates SEBI’s interim order on Jane Street Group likely impacting volumes in the futures and options market.

Jefferies also added that the impact on volume could be partially offset by “any uptick in proprietary trading.”

Manish Hathiramani, Deen Dayal Investments

Buy Reliance Industries for a target price of ₹1,600 with a stop loss of ₹1,475

Buy BPCL for a target price of ₹370 with a stop loss of ₹330

Abneesh Roy, Nuvama Instl Equities On CNBC-TV18

HCLTech | Launches Sovereign AI To Protect Govt & Regulated Organisations With Their Data Privacy

Dharmesh Kant, Head of Research at Chola Securities, shared his sectoral outlook on CNBC-TV18. He expressed caution on FMCG stocks due to muted single-digit growth expectations and is also steering clear of pharma, citing limited 15–17% growth potential.

On the positive side, he sees strong prospects in the auto sector, naming Hero MotoCorp as his top pick. He believes the upcoming festive season and a good monsoon will act as tailwinds for the broader economy.

Kant favours stocks like Waaree Energies and PFC, where valuations offer comfort. He is optimistic about the defence sector over a 3–5 year horizon and sees IRCON International as a relatively attractive player in the rail infrastructure space.

He also likes the renewable energy segment and advises focusing on growth sectors with sustainable earnings potential.

ACME Solar has placed a substantial order for battery energy storage systems, with deliveries scheduled to take place in phases over the next 4 to 8 months of the current financial year.

Five stocks in the Nifty Midcap 100 index are seeing notable declines in trade today.

Jubilant FoodWorks is the top laggard, down 3.57%, followed by Indus Towers (-2.79%) and Bharti Hexacom (-2.48%).

National Aluminium Company (NALCO) and Vishal Mega Mart are also trading lower, down 1.73% and 1.68%, respectively.

SEBI Chair Tuhin Pandey has said that the market regulator under him has no intention to curb weekly expiry for the index, as of yet.

Soni Patnaik, JM Financial Services

Buy Tech Mahindra with a stop loss of ₹1,554 and a target of ₹1,720-1,750

Buy Bharat Forge with a stop loss of ₹1,254 and a target of ₹1,360-1,400

Ravi Menon, IT Services Analyst at Macquarie Capital On CNBC-TV18

Reports indicate that Larsen & Toubro (L&T) has emerged as the lowest bidder for the T1 package of the Mumbai-Ahmedabad High-Speed Rail (MAHSR) bullet train project.

The T1 package is the third and final track installation-related contract.

L&T’s bid is valued at ₹4,571.4 crore. CNBC-TV18 has contacted L&T for a comment, and a response is awaited.