News Overview

Dr. Reddy's Laboratories has expanded its strategic partnership with South Korea's Sam Chun Dang Pharm into advanced liposomal drug formulations. While the collaboration is expected to strengthen its long-term growth pipeline, the stock has also entered a bullish technical phase after breaking above the ₹1,360 resistance level.

Knack Packaging IPO GMP has surged to ₹35 on the final day of subscription, indicating an estimated listing price of ₹205 and a potential gain of over 20%.

HCL Tech has won a $1.14 billion AI and digital transformation contract, reportedly with Mercedes-Benz, boosting investor confidence. The deal strengthens revenue visibility, highlights the company's AI ambitions, and marks a significant competitive win in the IT services industry.

The NSE has lifted the restriction on YES Securities, the broking subsidiary of Yes Bank, allowing it to onboard new clients again. The ban, imposed in May 2026 over compliance issues, was revoked early after the company implemented corrective measures and cooperated with the exchange's verification process.

PB Fintech is set for a ₹1,909 crore block deal as MacRitchie Investments sells a 2.6% stake at a 4.6% discount. The transaction comes after the company reported strong Q4 FY26 earnings with 53.5% growth in net profit and 36.7% revenue growth.

Asian equities delivered a mixed performance on July 2, 2026. South Korea's KOSPI plunged nearly 8%, while Japan's Nikkei and China's Shanghai Composite declined amid a global AI chip selloff triggered by Meta's cloud strategy. Hong Kong bucked the trend with gains, and India's Nifty rose on a strong IT rally, lower crude oil prices, and improving investor sentiment.

The Indian stock market extended its gains on July 2, 2026, with the Nifty closing at 24,175.70 and the Sensex rising 579 points. A strong rebound in IT stocks, lower Brent crude prices, easing US-Iran tensions, a stronger rupee, and lower India VIX boosted investor confidence, while Realty, Auto, Chemicals, Cement, and Consumer Durables also ended in positive territory.

Waterways Leisure Tourism shares rallied 10% to a fresh record high just a day after a disappointing stock market debut. Despite listing at a discount, the Cordelia Cruises operator attracted strong buying interest as investors looked beyond the subdued listing performance.

The Nifty IT index rebounded sharply on July 2, rising over 3% after four consecutive sessions of losses. Buying was led by Infosys, HCLTech, TCS, Tech Mahindra and Wipro, while mid-cap IT stocks also witnessed strong gains despite weak global technology cues.

Vedanta Iron & Steel continued its dream run, hitting a fresh all-time high and extending gains to over 113% since its listing. The rally was accompanied by strong gains across other demerged Vedanta Group companies, reflecting sustained investor interest.