Summary:
Indian benchmark indices extended their winning streak for the fifth consecutive session, supported by strong foreign inflows and easing crude oil prices. Among individual stocks, Info Edge, RITES, and Latent View gained sharply on acquisitions, order wins, and AI partnerships, while Trent, Kalyan Jewellers, and EMMVEE declined due to earnings disappointment, profit booking, and sector-specific weakness.
The key equity market indices Sensex and Nifty posted gains for the fifth straight day today, backed by robust investment inflows from overseas funds and the fall in crude prices to below war levels owing to reduced tensions in West Asia.
As on 11:15 am, the Sensex was quoting up by 277.62 points or 0.35% to 78,562.69, while the broader Nifty was up 78.75 points or 0.32% to 24,509.10. However, there were many stocks among the Nifty 500 that exhibited volatile trading activity due to individual company factors.
Info Edge Share Price Surges 10%
Info Edge (NAUKRI), which is one of the top online classifieds firms of India and runs online portals like Naukri.com, turned out to be among the major gainers in Nifty 500 index. The share price saw an increase of 10% on 07th July backed up by robust buying activity and heavy volume.
There was a rise in the volume in the shares of Info Edge to 52.7 lakh from the 30-day average volume of 26.3 lakh shares.
The surge came on the back of the announcement made by Info Edge that it intends to acquire the balance 45.36% stake in Coding Ninjas for ₹39.9 crore. Info Edge has also delivered a robust quarterly update with an increase of 14.4% in standalone billing for June quarter at ₹737 crore.
RITES Share Price Jumps 9%
Another big winner in the Nifty 500 index was the PSU Company RITES that gives consultancy and engineering services for transport infrastructures. It witnessed a gain of 9% on July 07 due to substantial purchases.
The volume of RITES stocks rose to 3 crore on the NSE while the average volume of shares over a period of 30 days was 42.7 lakh.
It saw a gain in its price after accepting the offer of the company Volantis Asset Finance South Africa for supply and commission of 4,000 HP Cape Gauge Diesel-Electric Locomotives, worth $35.8 million that will get over in 20 months.
Latent View Share Price Rallies 6%
Latent View Analytics, which is an IT services and analytics firm offering digital transformation and data analytics solutions, witnessed a rally of 6% on July 07, due to robust demand for the stock.
The stock saw higher levels of volume trading activity, with volumes crossing 26.7 lakh units against the 30-day moving average volumes of 9.8 lakh units on NSE.
This gain came after news about Latent View joining the partner network of Anthropic’s Claude. The partnership will allow Latent View to provide deployment support to their customers using the artificial intelligence offerings of Claude, intelligent automation, and agentic workflows.
Trent Share Price Falls 11.74%
Trent Ltd, a Tata Group retail brand that runs stores like Westside and Zudio, emerged as one of the top losers from the Nifty 500 Index as the stock fell by 11.74% to Rs 2,951.10 on July 07.
The steep drop followed the release of quarterly results that failed to meet the expectations of the stock market investors. Despite posting 19% growth in its revenues year-over-year basis, the growth failed to meet the expectations of the market. Issues were cited regarding slow pace of growth of fashion retail segment, weak same-store sales growth, lower revenue per square foot and competitive pressures due to aggressive expansion.
Kalyan Jewellers Share Price Declines 4.98%
Kalyan Jewellers India fell amid selling and closed 4.98% lower on July 07. It finished at ₹362.25, having reached an intraday high of ₹367.05 and low of ₹348.35. The firm’s trading volume on NSE was reported to be 1.69 crore shares.
Though the firm has reported decent revenue growth in its quarter, investors remained cautious due to technical reasons and worries regarding jewellery stocks.
EMMVEE Share Price Drops 4.06%
EMMVEE Photovoltaic Power, a firm dealing with solar energy products and renewable energy solutions through the manufacture of solar modules, went down by 4.06% on July 07.
The share closed at ₹336.60 after starting at ₹350 and falling to a low of ₹336.05. The company saw trading volumes of 14.22 lakh shares in the NSE.
There was no apparent reason behind the fall of the share since there was no specific trigger from the company and the fall might be attributed to profit booking and market sentiments towards renewable energy shares.
On the whole, Info Edge, RITES, and Latent View were the best performers on account of acquisitions, orders, and artificial intelligence while Trent, Kalyan Jewellers, and EMMVEE lost on account of market sentiments.
