All You Need To Know Going Into Trade On July 13

Asian stocks opened firmer Tuesday after their U.S. counterparts notched yet more all-time highs as investors awaited second-quarter earnings season.

Benchmarks rose in Japan and South Korea, with more subdued gains in Australia, where the Sydney lockdown is weighing on confidence. U.S. contracts fluctuated after the S&P 500 and the tech-heavy Nasdaq 100 closed at new highs.

The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, rose 0.77% to 15,808.50 as of 7:05 a.m.

The U.S. Treasury sold $58 billion of three-year notes at yields slightly higher than before the auction. A sale of $38 billion of 10-year notes was greeted by stronger demand. The dollar dipped against most major peers.

Oil was steady after dipping for the first time in three days as traders grappled with the demand implications of a Covid-19 resurgence in several regions and slowing economic growth in China.

Earnings Post Market Hours

Authum Investment and Infrastructure (Q1FY22, Consolidated, QoQ)

• Revenue up 557% to Rs 401.28 crore vs Rs 61.04 crore

• Profit up 561% to Rs 298.6 crore vs Rs 45.16 crore

HFCL (Q1FY22, Consolidated, QoQ)

• Revenue down 13.26% to Rs 1,207 crore vs Rs 1,391.4 crore

• Ebitda up 2.24% to Rs 191.6 crore vs Rs 187.4 crore

• Ebitda margin up 241 basis points to 15.88% vs 13.47%

• Profit after tax up 5% to Rs 90.7 crore vs Rs 86.4 crore

• Current order book at Rs 5,884 crore

Stocks To Watch

• Ashoka Buildcon: Received letter of acceptance from National Highways Authority of India for development of Memmadpur (Ambala) - Banur (IT City Chowk) - Kharar (Chandigarh) Corridor for a bid price of Rs 726 crore.

• FDC: Launched India’s first oral suspension of Favipiravir – Favenza Oral Suspension, used to treat mild to moderate cases of COVID-19.

• Piramal Enterprises: Approved the allotment of 1,020 non-convertible debentures aggregating to Rs 102 crores on private placement basis

• Quickheal Technologies: Launched its annual report. Company reported a consolidated revenue from operations of Rs 333 crore in FY21, up 16% from Rs 286 crore in FY20. It said the recovery is “commendable” since business was severely impacted during the initial part of the year because of the lockdown restrictions. The recovery in the retail segment was stronger with 24% increase in revenue, while the enterprise segment grew by 9%. In the enterprise segment in the first two quarters of the year, the company said the government spending was less, and the SME segment also faced some liquidity pressure.

• Kirloskar Industries: Reported a 32% decrease in revenue in FY21 at Rs 58.11 crore. Profit before tax is also 50% lower at Rs 32.45 crore. The company said it was mainly due to lower dividend income received, lower revenues from windmill business and reduced lease rental income.

• Shilpa Medicare: Board of directors approved the transfer of API Business of the company consisting of Unit-1 and Unit-2 situated at Raichur, Karnataka by way of slump sale to a wholly owned subsidiary of the company.

• Xelpmoc Design and Tech: Board of directors to meet on July 15 to consider a proposal of fund raising by issuance of equity shares or any other securities

• Suven Life Sciences: Ended FY21 with revenue 6% lower at Rs 13.5 crore as compared to Rs 14.41 crore last fiscal year. Losses narrowed to Rs 72.15 crores versus Rs 94.2 crore.

• Thermax: Launched its annual report. The company said its multi-sector approach makes it a resilient entity. Over the medium term, it said improvement in core industries, growing demand for Operations and Maintenance (O&M), Build-Own-Operate, and new energy-driven technologies augur well.

• Vipul: NCLT has appointed Ravi Sethia as the interim resolution professional of the company.

• Reliance Industries: Invested Rs 1 lakh in Reliance New Energy Solar, a newly incorporated wholly owned subsidiary.

• IDBI Bank: Moody’s has upgraded baseline credit assessment (BCA) of IDBI to b1 from b2. IDBI's local and foreign-currency bank deposit ratings are two notches above its Baseline Credit Assessment (BCA) and Adjusted BCA of b1.

• Earnings to Watch: Tata Metaliks, Mindtree

IPO Watch

Digital payments firm Mobikwik has filed a draft red herring prospectus ahead of its Rs-1,900 crore initial public offering.

Pledge Share Details

Centrum Capital: Promoter Businessmatch Services (India) revoked a pledge of 38 lakh shares between June 29 and July 1.

Aurobindo Pharma: Promoter RPR Sons Advisors Pvt.Ltd., Mrs.P.Suneela Rani (jointly holding) revoked a pledge of 12.5 lakh shares between July 7 and July 9. Promoter Axis Clinicals Ltd., Trident Chemphar Ltd., and RPR Sons Advisors Private Ltd. (jointly holding) created a pledge of 12.4 lakh shares between July 8 and July 9.

Who’s Meeting Whom

Action Construction: To meet Malabar Investment Advisors on July 13.

Trading Tweaks

Record Date Final Dividend: Rajratan Global Wire, Rane (Madras), Megasoft

Ex-Date Final Dividend: Persistent Systems, Syngene International, Seshasayee Paper and Boards, Thirumalai Chemicals, Lakshmi Machine Works, Salasar Techno Engineering

Price Band Revised From 10% To 5%: Edelweiss Financial Services, Iris Clothings, Touchwood Entertainment

Price Band Revised From 20% to 10%: Equitas Holdings, Kitex Garments

Move Into Short-Term ASM Framework: Centum Electronics, Vishal Fabrics

Money Market Update

The rupee ended at 74.57 against the U.S. Dollar on Monday as compared to Friday’s closing of 74.63.

F&O Cues

• Nifty July futures ended at 15,709.8; a premium of 17.2 points.

• Nifty July futures shed 3.29% and 6,559 shares in Open Interest

• Nifty Bank July futures ended at 35,275, a premium of 203.5 points

• Nifty Bank July futures added 2.69% and 2,236 shares in Open Interest.

• Securities that continue to be in the ban list: Indiabulls Housing Finance, Vodafone Idea, Nalco, NMDC, PNB and SAIL.

• Securities added to ban list: Granules India