All You Need To Know Going Into Trade On July 7
A bartender carries two breakfast plates. (Photographer: Simon Dawson/Bloomberg)

All You Need To Know Going Into Trade On July 7

Most Asian stocks fell Wednesday after U.S. shares snapped a winning streak and Treasury yields retreated on concerns about the economic outlook and risks from Covid-19 variants.

Equities fell in Japan and South Korea but rose in Australia. U.S. contracts declined after the S&P 500 dipped from a record, led by the energy and financial sectors. Amazon.com Inc. helped take the Nasdaq 100 to a fresh peak.

The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, fell 0.36% to 15,783.50 as of 7 a.m.

China’s cybersecurity probe into ride-hailing giant Didi Global Inc. sparked a 20% plunge in its shares. The nation issued a sweeping warning to its biggest firms, vowing to tighten oversight of data security and overseas listings, in a broadening crackdown on its corporate sector.

Oil pared losses after falling toward $73 a barrel. The dollar’s climb spurred a commodities selloff, and uncertainty shrouds the next move in the OPEC+ saga.

Traders are looking ahead to the Federal Reserve minutes Wednesday for more clues on when the U.S. central bank may begin tapering the substantial asset purchases that have bolstered financial markets.

All You Need To Know Going Into Trade On July 7

Stocks To Watch

  • Titan Company: June quarter revenue grew by 117%. Jewellery unit sales grew by 107% on year primarily due to zero sales in April of last year. While most of the sales in May were lost in both the years, June numbers were marginally ahead of the year ago sales. Around 90%+ of jewellery stores are now open. The division added 5 Tanishq stores on a net basis in the quarter. The watches & wearables unit grew by about 280% in the quarter over year ago figures, and the eyewear division grew by 117% YoY as sales were nil in April 2020, the company said.

  • Mahindra & Mahindra: To acquire up to 31.2% in ReNew Sunlight Energy Pvt Ltd. The company plans to acquire up to 1.61 crore shares in RSEPL, in one or more tranches, for Rs 16.07 crore. RSEPL will build, own, and operate solar power plant with 58 MWp capacity to generate around 100 million units a year and feed it into the Maharashtra State Electricity Distribution Grid. According to a pact between Mahindra and discoms, the company’s manufacturing plants in Maharashtra will consume the solar power generated.

  • HDFC: The National Housing Bank has imposed a monetary penalty on Housing Development Finance Corporation Ltd of Rs 4.75 lakh for non-compliance with certain provisions.

  • Sobha: Achieved total sales volume of 8.95 lakh square feet worth Rs 683 crore in quarter ended June. Total sales value up 40% year-on-year at Rs 682.9 crore Vs Rs 487.7 crore. Sobha share of sale value up 45% YoY at Rs 570.9 crore Vs Rs 393.1 crore. Total average price realization up 1.70% at Rs 762.6 crore Vs Rs 749.8 crore. Average cost of borrowing has further come down during the quarter. Further the company has planned new launches of 13.35 million square feet.

  • NMDC: Offer for sale by government was subscribed 2.13 times of base size at a clearing price above the floor price by non-retail investors. The OFS received bids for 22.55 crore shares compared with 10.55 crore shares offered to the non-retail segment on the first day of sale. Bids received at indicative price of Rs 166.46 per share versus floor price of Rs 165. Government to exercise the green shoe option of selling additional 10.22 crore shares. Retail investors will get a chance to bid today.

  • Coffee Day Enterprises: Defaulted on payment of interest/repayment of principal amount on loans from banks and unlisted debt securities worth Rs 280.54 crore

  • Kotak Mahindra Bank: Kotak Securities Ltd, a subsidiary of the bank, has invested Rs 10 crore for a 9.96% in the total share capital of Kredent InfoEdge.

  • Mastek: Appointed Hiral Chandrana as Global Chief Executive Officer of Mastek Group, with effect from July 6.

  • Gillette India: Appointed Gautam Kamath as Chief Financial Officer and Additional (Executive) Director of the company effective August 1. Kamath will replace Gagan Sawhney who has resigned from the post effective July 31.

IPO Watch

  • GR Infraprojects IPO at Rs 828-837/share open for sale, offer closes July 9

  • Clean Science & Technology IPO at Rs 880-900/share open for sale, offer closes July 9

Also read: GR Infraprojects IPO: What You Need To Know

Pledge Share Details

  • Max Financial Services: Promoter Max Ventures Investment Holdings created a pledge of 5.04 crore shares on July 5.

  • Sun Pharmaceutical Industries: Promoter Shanghvi Finance invoked pledge of 60.60 lakh shares on July 2.

  • Zee Learn: Promoters (Essel Media Ventures and Asian Satellite Broadcast) invoked pledge of 1 crore shares on July 1.

    As reported on July 6.

Bulk Deals

  • Dhani Services: BNP Paribas Arbitrage bought 28 lakh shares (0.46%) at Rs 174 per share. Tamarind Capital Pte sold 69.85 lakh shares (1.15%) at Rs 174.11 per share.

Insider Trades

  • Ganesha Ecosphere: Promoters (Charu Khandelwal and Hemant Sharma) bought 3,200 shares on June 30.

Trading Tweaks

  • Ex-Date Final Dividend: Kalpataru Power Transmission, Onward Technologies

  • Ex-Date Dividend: Mayur Uniquoters, Ultramarine & Pigments

  • Record Date Final Dividend: Piramal Enterprises, SKF India

  • Move Into Short-Term ASM Framework: Privi Speciality Chemicals, Apex Frozen Foods, Heritage Foods

  • Move Out Of Short-Term ASM Framework: Future Consumer, Nahar Spinning Mills

  • Move Into ASM Framework: Nahar Spinning Mills, HFCL, Sastasundar Ventures, Gulshan Polyols, Newgen Software Technologies

  • Price Band Revised From 20% To 10%: Xelpmoc Design And Tech

Money Market Update

  • The rupee ended at 74.55 against the U.S. Dollar on Tuesday as compared to Monday's closing of 74.31.

F&O Cues

  • Nifty July futures ended at 15,832; a premium of 13.75 points.

  • Nifty July futures added 2.23% and 4,162 shares in Open Interest

  • Nifty Bank July futures ended at 35,622.20; a premium of 43.05 points

  • Nifty Bank July futures shed 5.35% and 4,562 shares in Open Interest

  • Securities added to the ban list: Indiabulls Housing Finance and NMDC

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

All You Need To Know Going Into Trade On July 7
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