Govt approves Rs 7,145 cr greenfield highway in UP, Avenue Supermarts Rs 200 cr commercial papers, & more

Wednesday, 1 July 2026

Jul 01, 2026

Markets opened above yesterday’s closing point.

Realty stocks and FMCG stocks rose the most today. IT stocks and metal stocks fell the most.

Global markets: US markets rose. Asian markets showed a mixed trend. Most European markets fell (as of 6 pm IST).

News

India’s manufacturing PMI fell to 54.2 in June (vs 55.0 in May). This means manufacturing activity rose less in June than in May.
India’s gross GST revenue rose 13.9% year-on-year to 1.95 lakh crore in June. Net GST revenue rose 11.2% to 1.62 lakh crore.
The government approved Rs 7,145.14 crore for the construction of a 117.7 km access-controlled Kanpur-Kabrai section of the NH-34 greenfield highway in Uttar Pradesh.
The government approved Rs 6,969.67 crore for the construction of an 8.1 km, 6-lane road tunnel (NH-148AE) in Delhi.
Social Worth Technologies has filed draft papers with SEBI for a Rs 750 crore IPO.

Stocks Updates

Airtel: subsidiary Airtel Money has started commercial operations as a Type-II NBFC after getting RBI registration.
M&M: revised terms for the sale of its Turkish subsidiary Erkunt. It will infuse TL 2.26 billion (around Rs 471 crore) into the business before closing the transaction, while the buyer will invest $10 million (around Rs 95 crore). The stake sale is expected to close by 15 August 2026.
NTPC: declared commercial operation of the 15 MW Bhilai Floating Solar Power Station through its JV NSPCL, taking NTPC Group’s total installed capacity to 90,904 MW.
Avenue Supermarts (DMart): allotted commercial papers worth Rs 200 crore through private placement at a 6.70% coupon rate, maturing on 28 Sept 2026.
Coal India: got a Letter of Award to set up a 600 MW solar power project at Jalaun Solar Park in Uttar Pradesh. The project will cost around Rs 2,831 crore.
Wipro: completed cancellation of 60 crore shares under its buyback. Its total outstanding shares reduced from 1,050.35 crore to 990.35 crore.
HDFC Life: GST demand of Rs 132.7 crore, along with interest and penalty, was upheld by the appellate authority. The company will challenge the order.
Max Healthcare: completed the first phase of its acquisition of Yerawada Properties, acquiring 100% voting rights and 50.22% economic interest, making it a subsidiary. The acquisition supports the development of a 450-bed super-speciality hospital in Pune.
Lupin: completed the acquisition and buyback of shares in Philippines-based Multicare Pharmaceuticals, increasing its stake from 56.28% to 99.89%.
Power Grid & REC Ltd: subsidiary RECPDCL transferred WR ER Part A Power Transmission to Power Grid for Rs 18.62 crore and WR ER Part C Power Transmission to HG Infra Engineering for Rs 11.93 crore.
Suzlon: secured a 105 MW wind turbine order from Sunsure Energy for deployment in Karnataka. The order will use Suzlon’s newly launched 5 MW S175 turbines and takes the companies’ cumulative partnership to 400.8 MW.
NTPC Green: subsidiary Ayana Renewable Power won a 193 MW wind power project from MPPMCL at a tariff of Rs 4.17/kWh.

Word of the Day

Greenfield Project

It is a project that is started afresh and is not building upon an existing project.

Whenever a project is built for the first time at a location and is a fresh start, it can be called greenfield.

It is not modifying an existing project.

This term can be used to describe all kinds of projects like factories, highways, solar plants, etc.

6 Day Course

Theme: value trap
Day 3: Wednesday

Another common sign of a value trap is that of reducing margins.

A company may continue to earn profits, continue to have revenue growth, but the margin is reducing.

In such a case, the company is having to spend more money to earn the same amount of earnings.

This can be due to multiple factors like increasing input costs, increasing competition, etc.

In such a case, a company may gradually lose its power to price its products as it wishes.

Many times, this leads to a reduced earnings growth and therefore, a reduced share price increase.

Such a stock can also become a value trap where its revenues are increasing but its margins are shrinking.

Another metric to keep a track of is cash flow. If the cashflow of a company is negative while earnings are positive, the share may become a value trap.