All You Need To Know Going Into Trade On July 1
Asian stocks were mixed Thursday amid a firmer dollar as traders weighed concerns about the more contagious delta strain of Covid-19 and looked ahead to a U.S. payrolls report.
Shares fluctuated in Japan and Australia and edged lower in South Korea. While the S&P 500 eked out an overnight gain, rounding out one of the best first halves since 1998 for U.S. stocks, the recent spread of the virus variant is tempering some of the optimism around the global recovery. S&P 500 and Nasdaq 100 contracts were slightly higher.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, was little changed at 15,754 as of 7 a.m.
The dollar held an advance after completing its best month since March 2020 and Treasuries were steady. U.S. data showed surprise strength in pending home sales and an ongoing labour market recovery. The payrolls report due Friday will provide a key gauge of economic progress, helping to shape expectations of when the Federal Reserve might start tapering stimulus.
Elsewhere, oil retained a climb ahead of a meeting between OPEC+ producers on output policy and as a stalemate in Iranian nuclear talks drags on.
Data To Watch
10:30am: Markit India Manufacturing PMI for June, prior 50.8
Earnings Post Market Hours
Vodafone Idea Q4FY21 (Consolidated, QoQ)
Revenues down 11.8% at Rs 9,607.6 crore Vs Rs 10,894.1 crore (Bloomberg Estimate: Rs 10,040.5 crore)
Net loss at Rs 7,022.8 crore Vs Net loss of Rs 4,532.1 crore (Bloomberg Estimate: Rs 3,854 crore)
EBITDA up 2.9% at Rs Rs 4408.7 cr vs Rs 4286.2 cr (Est Rs 4302.6 cr)
EBITDA margins at 45.9% vs 39.3% (Est 42.9%)
Dish TV India Q4FY21 (Consolidated, QoQ)
Revenue down 8% at Rs 751.75 crore Vs Rs 815.67 crore
Net loss at Rs 1,408.65 crore Vs Net profit of Rs 90.69 crore
Ebitda down 15% at Rs 426.04 crore Vs Rs 503.94 crore
Ebitda margin at 56.7% Vs 61.8%
SpiceJet Q4FY21 (Consolidated, QoQ)
Revenue up 12% at Rs 1,888.1 crore Vs Rs 1,691.6 crore
Net loss at Rs 256.90 crore Vs Rs 66.70 crore
Ebitda loss at Rs 101.20 crore Vs Ebitda gain of Rs 184.5 crore
To seek shareholder nod to raise Rs 2,500 crore fresh capital
Stocks To Watch
Indian Oil Corporation: Accorded stage-1 approval for implementation of Styrene Monomer Project at an estimated cost of Rs 4,495 crore, at the company’s Panipat refinery and petrochemical complex. This will be the first production unit for styrene in India with a capacity of 387,000 MTPA. The unit is expected to be commissioned by 2026-27.
Union Bank of India: Approved a plan to raise up to Rs 9,700 crore through a mix of both equity and debt. The lender will raise Rs 3,500 crore through an equity issuance including to the government. The board also approved raising Rs 6,200 crore through a bond issue.
Adani Group has achieved its target to set up 25 gigawatts of renewable energy capacities in India, four years ahead of the schedule, Chairman Gautam Adani said during the India Global Forum 2021. Our green energy arm is on track to be the world's largest renewable energy company by 2030, he added. The group also plans to double its solar cell and module manufacturing capacity to 4GW and expand the domestic manufacturing ecosystem for its renewables business, including a new wind turbine manufacturing cluster in Mundra. Further, the Competition Commission of India on June 30 approved proposed acquisition of the entire shareholding of SB Energy by the Adani Green Energy.
Dr.Reddy's Laboratories: Journey Medical Corporation has entered into a definitive agreement with the company to develop and commercialize DFD-29 for the treatment of Rosacea, according to a Bloomberg report. Journey Medical and Dr. Reddy’s will conduct two Phase 3 clinical trials to assess the efficacy, safety and tolerability or oral minocycline for regulatory approval.
Piramal Enterprises: Board to meet on July 5 to consider the issue of secured NCDs of up to Rs 50 crore along with an option to retain oversubscription up to Rs 585 crore, on private placement basis.
DCM Shriram Industries: Appointed Vineet Manaktala as the Director Finance and CFO with effect from July 1, for a period of three years. Manaktala will replace NK Jain who is set to retire.
Atul rated new Neutral at Motilal Oswal Securities
Deepak Nitrite rated new Buy at Motilal Oswal Securities
Glenmark Pharma cut to Hold at Sushil Finance; price target Rs 760
NOCIL rated new at Motilal Oswal Securities; price target Rs 275
Rail Vikas cut to Accumulate at IDBI Capital Market
Tata Motors reinstated Buy at Jefferies; price target Rs 455
Pledge Share Details
Chambal Fertilisers & Chemicals: Promoter Zuari Global revoked pledge of 7.50 lakh shares on June 28.
Emami: Promoter Sneha Gardens revoked pledge of 4 lakh shares on June 28.
JSW Steel: Promoter JTPM Metal Traders revoked pledge of 13 lakh shares on June 28.
Kalpataru Power Transmission: Promoter KC Holdings revoked pledge of 22.50 lakh shares between June 29-30.
Max Financial Services: Promoter Max Ventures Investment Holdings revoked pledge of 27.74 lakh shares between June 28-29.
As reported on June 30.
IIFL Finance: Abakkus Emerging Opportunities Fund – 1 bought 20 lakh shares (0.53%) at Rs 240 per share. Smallcap World Fund Inc bought 58.36 lakh shares (1.54%) at Rs 240 per share. CDC Group Plc sold 1.40 crore shares (3.70%) at Rs 240.64 per share.
Hexa Tradex: Promoter Siddeshwari Tradex bought 3.58 lakh shares (0.65%) at Rs 117.05 per share.
Sterling and Wilson Solar: BNP Paribas Arbitrage bought 11.61 lakh shares (0.72%) at Rs 261.96 per share.
Prozone Intu Properties: Promoter Deep Gupta Family Trust sold 8.50 lakh shares (0.56%) at Rs 33.95 per share.
Westlife Development: Promoter Anurag Jatia bought 11.67 lakh shares (0.75%) at Rs 499.09 per share. Promoter Makino Holdings sold 11.67 lakh shares (0.75%) at Rs 499.09 per share.
Adani Ports and SEZ: Promoter Worldwide Emerging Market Holding bought 8.67 lakh shares on June 29.
Adani Green Energy: Promoter Infinite Trade and Investment bought 17.46 lakh shares on June 29.
Eris Lifesciences: Promoter Himanshu Shah sold 62,485 shares between June 28-30.
Gati: Promoter TCI Finance sold 80,000 shares between June 25-29.
Hexa Tradex: Promoter Siddeshwari Tradex bought 4.94 lakh shares on June 28.
KEI Industries: Promoter Anil Gupta sold 5.95 lakh shares between June 28-30.
Karda Constructions: Promoters (Laxman Karda and Prem Karda) sold 10 lakh shares between 28-29.
MRF: Promoter Soma Philips sold 1,282 shares between June 28-29.
Nirlon: Promoter Shitaltrading & Interirors sold 20,000 shares between June 28-29.
Orient Electric: Promoter Nirmala Birla sold 80,000 shares on June 29. Promoter Chandra Birla bought 80,000 shares on June 29.
Prozone Intu Properties: Promoter Akhil Chatuvedi Family Trust sold 87,410 shares between March 30 and June 28.
Rushil Décor: Promoter Ghanshyam Thakkar sold 6.99 lakh shares on June 29.
Thangamayil Jewellery: Promoters (B Rajeshkanna and BK Kishorelal) bought 2,045 shares on June 29.
Ex-Date Dividend: Adani Enterprises, Dhunseri Tea & Industries, Smruthi Organics, Swaraj Engines, TTK Prestige, United Breweries, Vishnu Chemicals
Ex-Date Final Dividend: Apcotex Industries, Federal Bank, Larsen & Toubro Infotech, Minda Corporation, Petronet LNG, Power Finance Corporation, PTL Enterprises, Subex
Ex-Date Interim Dividend: MM Forgings
Ex-Date EGM: Marksans Pharma
Record Date Final Dividend: HDFC Life Insurance Company
Price Band Revised From 20% To 10%: Sadbhav Infrastructure Project
Move Out Of Short-Term ASM Framework: PG Electroplast
Move Into ASM Framework: Acrysil, The Andhra Sugars, Kingfa Science & Technology (India), Nagarjuna Fertilizers and Chemicals
Move Out Of ASM Framework: Orissa Minerals Development Company, Jaypee Infratech, Dewan Housing Finance Corporation
Money Market Update
The rupee ended at 74.32 against the U.S. Dollar on Wednesday as compared to Tuesday's closing of 74.23.
Nifty July futures ended at 15,747; a premium of 25.5 points.
Nifty July futures added 2.41% and 4,553 shares in Open Interest
Nifty Bank July futures ended at 34,926.20; a premium of 154 points
Nifty Bank July futures added 8.18% and 6,671 shares in Open Interest
Securities that continue to be on the ban list: Nalco