DATE3 Jul
NIFTY 24,271 0.39%BANK NIFTY 57,938 0.16%NIFTY IT 27,439 1.76%NIFTY PHARMA 25,745 1.72%SUMICHEM 502 13.85%ZENSARTECH 516 10.43%AEGISVOPAK 257 9.67%GVT&D 4,402 8.74%POWERINDIA 31,040 8.10%ENRIN 3,282 7.55%ECLERX 1,489 7.01%CGPOWER 893 6.97%UNIONBANK 163 6.46%THERMAX 4,608 6.29%NIFTY 24,271 0.39%BANK NIFTY 57,938 0.16%NIFTY IT 27,439 1.76%NIFTY PHARMA 25,745 1.72%SUMICHEM 502 13.85%ZENSARTECH 516 10.43%AEGISVOPAK 257 9.67%GVT&D 4,402 8.74%POWERINDIA 31,040 8.10%ENRIN 3,282 7.55%ECLERX 1,489 7.01%CGPOWER 893 6.97%UNIONBANK 163 6.46%THERMAX 4,608 6.29%
Morning brief · Saturday, 4 July 2026

JPMorgan and Mirae a split bet on HDFC Bank

Market pulse
A split emerged in the market as strength in IT and pharma stocks, which both surged over 1.7 percent, powered the Nifty to a fresh close at 24,271 even as banks acted as a drag. While specific counters like Sumitomo Chemical and Zensar Technologies saw sharp rallies, a handful of others in the power and industrial space, such as GVT&D and Power Mech Projects, faced significant selling pressure.
From the investor's mind
One post worth your time, explained
Kumar Saurabh
@suru27 · on X
The surge in AI data centers is intensifying the need for advanced cooling solutions, particularly liquid cooling, as traditional air cooling struggles with the heat generated by powerful AI processors. Kumar Saurabh highlights that beyond the cooling systems themselves, stainless steel (SS) pipe spooling stands to be a significant beneficiary, acting as the Pre-Engineered Building (PEB) equivalent for piping. This factory-fabricated approach for pipe sections, akin to how PEBs are assembled off-site, streamlines on-site work, accelerates deployment, and enhances overall quality and efficiency in constructing the complex piping infrastructure required for liquid-cooled data centers. The investor's key takeaway is that this structural shift towards pre-fabrication in piping, driven by AI's demands, presents a crucial investment opportunity.
Word in the street
What the wider market is buzzing about
Amit's Garage
In a market saturated with noise, investors found themselves talking about a different kind of garage. Not one for cars, but for ideas. Amit's Garage has captured attention as a space promising to impose order on the chaos of investing by connecting disparate dots and sharing unfiltered thoughts. The appeal is its genuine curiosity, a place to explore businesses, markets, and macroeconomics without a rigid format. Yet, the central debate remains. The freedom to explore any rabbit hole is both its greatest strength and its most significant risk. The question investors are asking is whether this unfiltered approach will find true signal or just more noise.
Yesterday's big moves
Procter & Gamble Health Limited
Procter & Gamble Health LimitedNew Position
6,463Past year 15%M.cap ₹10,373 Cr
Aditya Birla Sun Life Mutual Fund
Aditya Birla Sun Life Mutual Fund, overseen by CIO Mahesh Patil, has taken a new position in Procter & Gamble Health Ltd. acquiring 202,796 shares, representing a 1.22% stake. The investment in the pharmaceutical manufacturer, valued at approximately ₹131.2 Cr based on the current share price of ₹6463.00, aligns with Patil's consistent large-cap and multi-cap investment approach, often seeking long-term alpha in established companies. P&G Health is a prominent player in India's vitamins, minerals, and supplements market, manufacturing both prescription and over-the-counter medications.
HDFC Bank Limited
HDFC Bank LimitedNew Position
796Past year 18%M.cap ₹12,30,525 Cr
JPMorgan
Global banking giant JPMorgan, known for its multi-cap investment strategy, has reportedly established a new position in HDFC Bank. This comes as FPIs have been observed reducing their stake in HDFC Bank, with holdings decreasing from 47.67% to 44.05% in the March 2026 quarter amidst broader FPI outflows from Indian financial services. Despite this, HDFC Bank remains India's largest private sector bank with a market capitalization of ₹1,230,525 Cr, though its shares have seen a nearly 20% decline over the past year. JPMorgan's entry signals a potential long-term value perspective on the banking behemoth.
HDFC Bank Limited
HDFC Bank LimitedNew Position
796Past year 18%M.cap ₹12,30,525 Cr
Mirae Asset Mutual Fund
Mirae Asset Mutual Fund, a prominent player known for its rigorous quality-growth investing, has taken a significant fresh position in HDFC Bank, acquiring 15.46 crore shares, representing a 1.16% stake in the private sector lender. This move, valued at approximately ₹12,305 crore based on HDFC Bank's current share price of ₹795.90, comes as HDFC Bank's stock has seen a nearly 20% decline in the past year, amid leadership changes and governance concerns that have weighed on key financial metrics. Mirae Asset's entry signals a potential belief in the long-term value of HDFC Bank, aligning with CIO Neelesh Surana's strategy of bottom-up stock selection in quality businesses.
Atvo Enterprises Limited
Atvo Enterprises LimitedIncreased
M.cap ₹312 Cr
Naresh Gattani HUF
The promoter group of Atvo Enterprises, Naresh Gattani HUF, has increased its stake in the textile manufacturer, acquiring 169,500 shares via open market purchase on June 30. This move boosts their holding from 2.64% to 2.80% of the company, now totaling 29.97 lakh shares. The acquisition signals strong insider confidence in Atvo, a company specializing in knitted garments for domestic and international markets, currently valued at ₹312 crore.
Gujjubhai Industries Limited
Gujjubhai Industries LimitedIncreased
M.cap ₹362 Cr
Kingsman Wealth Management Private Limited
Kingsman Wealth Management, part of the promoter group for Gujjubhai Industries, has increased its stake in the packaged foods company, acquiring 3,906 shares via open market purchase on June 25. This boosts their holding from 13.00% to 13.02%. The transaction, valued at approximately ₹5 lakh based on the current share price of ₹129.25, signals continued confidence from the promoter in Gujjubhai Industries, which specializes in dry fruits trading across India.
Markets are like a horror movie. You scream and shout, but you don't leave your seat.
Vijay Kedia
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JPMorgan and Mirae a split bet on HDFC Bank · WhaleWatch