All You Need To Know Going Into Trade On July 6
A man cycles in front of Chhatrapati Shivaji Maharaj Terminus amid rains in Mumbai, on Monday, 1 June 2020.

All You Need To Know Going Into Trade On July 6

Asian stocks opened steady Tuesday as traders weigh a jump in crude oil amid an OPEC+ crisis that derailed a deal to boost output. Treasuries dipped as trading resumed after a U.S. holiday.

Gains were modest in Japan, Australia and South Korea. U.S. stocks and Treasury markets were closed Monday for the Independence Day holiday, keeping trading subdued. European shares edged higher and U.S contracts fluctuated in Asia. A gauge of the dollar was little changed.

The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, fell 0.12% at 15,844 as of 7 a.m.

OPEC+ was plunged into crisis as a worsening fight between Saudi Arabia and the United Arab Emirates blocked an oil-supply increase. The breakdown of talks has sent crude climbing toward $80 a barrel, but also raises the risk of a price war if the conflict at the alliance escalates.

Also read: OPEC+ Deal Fails, Leaving Oil Market Tighter as Prices Surge

Stocks To Watch

  • NMDC: Government to sell 7.49% of the company's equity through an offer for sale. The initial plan is for the sale of 11.72 crore shares or 4% of the total equity with a green shoe option to sell another 10.22 crore shares or 3.49% of the total equity. The floor price of Rs 165 per share is at a discount of 5.87% to Monday's closing price. The OFS opens for non-retail investors today and for retail investors tomorrow.

  • NTPC: The wholly-subsidiary of the company, NTPC Vidyut Vyapar Nigam, has invited bids for e-buses in Delhi, Leh.

  • CG Power and Industrial Solutions: Allotment of 1.38 crore shares worth Rs 101.2 crore to Standard Chartered Bank (Singapore) completed. SCB now holds 1.02% of the paid-up equity share capital of the company.

  • Religare Enterprises: Shareholders approved the Rs 570 crore preferential issue of fresh equity shares at a price of Rs 105.25 per share to existing shareholders like Burman family & Ares SSG Capital and selected new marquee investors.

  • Piramal Enterprises: Approved the allotment of 1,250 secured NCDs at issue price of Rs 10.01 lakh per debenture, aggregating to Rs 125.19 crore on private placement basis.

  • Vakrangee: Partnered with EDUSAKSHAM an EdTech startup by IIT Alumni, to offer online tuition/live classes, e-Learning courses, practice and assessment-based modules to the customers under highly emerging sector of online education domain.

  • Maruti Suzuki India: Total production in June up 226% to 1,65,576 units Vs 50,742 units last year.

  • Force Motors: The company’s total production in June stood at 1,757 units. It reported domestic sales of 1,501 units and exports of 424 units.

  • Alembic: The company said its bulk drugs business continues to remain under pressure. “Despite persistent efforts by the management to improve efficiency and reduce overheads, the business incurred losses during the year. The company continues to work towards right sizing its operations. The bulk drugs business will remain under pressure due to competitive business scenarios as well as the ever-increasing capital-intensive asset modernisation and refurbishment of manufacturing facilities requirements. The business faces an uncertain future, despite our sincere efforts.”

Pledge Share Details

  • Adani Transmission: Promoter Adani Tradeline LLP created a pledge of 66.06 lakh shares between July 2-3.

  • HFCL: Promoters (MN Ventures, Nextwave Communications and Anant Nahata) revoked pledge of 18.11 crore shares between July 2-3.

  • JSW Steel: Promoter JTPM Metal Traders revoked pledge of 5.84 lakh shares between June 29-30.

  • Prime Focus: Promoter Naresh Malhotra revoked pledge of 93.60 lakh shares on June 1.

  • SH Kelkar and Company: Promoters (Keva Constructions and Kedar Vaze) created a pledge of 50 lakh shares on June 29.

    As reported on July 5.

Who’s Meeting Whom

  • Affle (India): To meet Malabar Investments on July 6 and Franklin Templeton and Janchor Partners on July 7.

  • Deepak Fertilisers and Petrochemicals Corporation: To meet Mirae Asset Capital Markets (India) on July 6.

Trading Tweaks

  • Ex-Date Bonus Issue: Bansal Roofing Products

  • Ex-Date Dividend: Century Textiles & Industries, Ponni Sugars (Erode), SKF India

  • Ex-Date Final Dividend: JMC Projects (India), Natural Capsules, Piramal Enterprises

  • Price Band Revised From 10% To 5%: Jain Irrigation Systems, Uttam Sugar Mills

  • Price Band Revised From 20% To 10%: Apex Frozen Foods, HFCL, Newgen Software Technologies, Steel Exchange India

  • Move Into Short-Term ASM Framework: Alicon Castalloy, Happiest Minds Technologies

  • Move Out Of Short-Term ASM Framework: BL Kashyap and Sons, Den Networks, Zee Media Corporation, Sharda Motor Industries

  • Move Into ASM Framework: Zee Media Corporation, Rupa & Company, Olectra Greentech, Steel Exchange India, Rajratan Global Wire, Bajaj Hindusthan Sugar

Money Market Update

  • The rupee ended at 74.31 against the U.S. Dollar on Monday as compared to Friday's closing of 74.74.

F&O Cues

  • Nifty July futures ended at 15,868; a premium of 33.65 points.

  • Nifty July futures added 0.36% and 665 shares in Open Interest

  • Nifty Bank July futures ended at 35,364; a premium of 152 points

  • Nifty Bank July futures added 2.32% and 1,935 shares in Open Interest

  • Securities added to the ban list: Indiabulls Housing Finance

  • Securities that continue to be in the ban list: PNB and Nalco

All You Need To Know Going Into Trade On July 6
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