All You Need To Know Going Into Trade on July 8

Asian stocks opened steady Thursday, following gains for U.S. shares and Treasuries as the Federal Reserve minutes showed policy makers still awaiting more evidence of a robust economic recovery to set a timeline for trimming bond purchases.

Benchmarks dipped in Japan, where another virus state of emergency for Tokyo looks imminent. Stocks edged up in Australia and South Korea. U.S. futures fluctuated after the S&P 500 and Nasdaq 100 both closed at all-time highs. Ten-year U.S. Treasury yields steadied around 1.31% after falling for seven trading days as inflation expectations continued to ease.

The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, fell 0.27% at 15,845.50 as of 7:30 a.m.

Traders in Asia will be closely tuned to China’s open after officials flagged the possibility of a reserve requirement ratio cut to help the economy.

The dollar held gains against a basket of major currencies. Oil stabilized after sliding as investors await further signals from the OPEC+ alliance on production plans after a breakdown in talks.

Stocks To Watch

• Adani group stocks: Gautam Adani is seeking a loan of about Rs 7,500 crore ($1 billion) to refinance existing debt of Mumbai International Airport Ltd, according to a Bloomberg report. Barclays Plc and JPMorgan Chase & Co. are among banks in discussions to provide the funds to Adani Airport Holdings Ltd. Deutsche Bank AG is also in talks to help with the financing. MIAL has a debt of about Rs 8,000 crore.

• Bajaj Healthcare: Received a licence from Defence Research and Development Organisation to manufacture and market 2-Deoxy-D-Glucose, used in treatment of Covid-19, in the domestic market.

• RBI has penalised 14 banks for contravening provisions related to bank lending to non-bank finance companies and maintaining data on large exposures. Penalties worth Rs 14.5 crore was levied on banks. Bank of Baroda was levied a penalty of Rs 2 crore. State Bank of India was fined Rs 50 lakh. Karnataka Bank, Bank of Maharashtra, Central Bank of India, Indian Bank, IndusInd Bank, Bandhan Bank, Karur Vysya Bank, Punjab and Sind Bank, South Indian Bank and The Jammu & Kashmir Bank were asked to pay Rs 1 crore as fine. Penalties levied after a scrutiny of accounts of a group was carried out by RBI.

• Tata Motors: Doing everything to mitigate chip shortage issue, said Adrian Mardell, CFO, Jaguar Land Rover. Taken strong steps to streamline our supply chain and are in touch with the chip suppliers to gain visibility. Not expecting launches to be delayed because of the chip issue, he said. JLR’s total inventory is at 74,000 units at the end of June.

• REC: Raised US$400 million by issuing bonds to finance the power sector. The bonds have been issued under the company’s USD 7 Billion Global Medium Term Note Programme. The notes will mature on January 13, 2027, and all principal and interest payments will be made in U.S. Dollars. The settlement date for the Notes is expected to be 13 July.

• HDFC: Sold 2.46% stake in Hindustan Oil Exploration Company for Rs 37.19 crore. The company sold 32.53 lakh shares between September 2017 and July 7, 2021.

• PNB Housing Finance: Received a letter from Punjab National Bank asking it to consider restructuring its fund-raising plans. PNB sent a letter to PNB Housing on July 4. After obtaining legal opinion, PNB board is of the opinion that the housing finance company should take cognisance of the SEBI letter and consider restructuring the contours of the fund-raising plan. PNB Housing board, after meeting on July 5 and 6, has decided to wait for SAT order on July 12, before further action.

• Hindustan Construction Company: Default in loans including revolving facilities like cash credit from banks and financial institutions as on June 30 stands at Rs 2,059.85 crore. Total financial indebtedness at Rs 9,893.22 crore.

• Kalyan Jewellers: Overall revenue for the June quarter was 55% of Q1FY20, the company said. A significant portion of the revenue for Q1FY22 was booked during the month of April. It also opened 9 showrooms in India in April, taking the total number of showrooms in India to 116. As of June 30, 92% of the company's showrooms in India were operational.

• Earnings: TCS, Shyam Metalics and Energy

IPO Watch

• GR Infraprojects IPO fully subscribed, gets 228% demand on first day sale, offer closes July 9

• Clean Science & Technology IPO fully subscribed, gets 170% demand on first day sale, offer closes July 9

• Zomato seeks to raise Rs 9000 crore via new share sale in IPO. The price band is set at Rs 72-76 a share. The issue will open July 14 and close July 16.

Pledge Share Details

• Aurobindo Pharma: Promoter group (Axis Clinicals, Trident Chemphar and RPR Sons Advisors) created a pledge of 20 lakh shares on July 5. Promoters (RPR Sons Advisors, P Suneela Rani and K Reddy) revoked pledge of 35 lakh shares on July 5.

• Gayatri Projects: Promoter T Indira Reddy invoked pledge of 22 lakh shares on July 5.

  As reported on July 7.

Bulk Deals

HG Infra Engineering: Employees Retirement System of Texas - Self Managed Portfolio bought 4.26 lakh shares (0.65%) at Rs 472.23 per share.

Dhani Services: Tamarind Capital Pte sold 69 lakh shares (1.13%) at Rs 182.85 per share.

Ujjivan Financial Services: Aberdeen Global Asian Smaller Companies Fund sold 10.05 lakh shares (0.83%) at Rs 203.83 per share.

Who’s Meeting Whom

• Paisalo Digital: To meet Dalal and Broacha Stock Broking on July 8.

• Somany Home Innovation: To meet MK Ventures and Dimensional Securities on July 8.

Trading Tweaks

• Ex-Date AGM: Wipro, Shanthi Gears

• Ex-Date Dividend: Maharashtra Scooters, Bajaj Finserv, Bajaj Auto, Bajaj Holdings & Investment, Jindal Saw

• Ex-Date Final Dividend: Bajaj Finance, Crompton Greaves Consumer Electricals, DCM Shriram, Fineotex Chemical, HPCL, Indian Bank, L&T Technology Services

• Record Date Dividend: Kalpataru Power Transmission, Ultramarine & Pigments

• Price Band Revised From 10% To 5%: Olectra Greentech, Rajratan Global Wire, Sharda Motor Industries

• Price Band Revised From 20% To 10%: VLS Finance

• Move Into Short-Term ASM Framework: Jain Irrigation Systems

• Move Into ASM Framework: Gokaldas Exports, PNB Gilts, Hexa Tradex

Money Market Update

• The rupee ended at 74.61 against the U.S. Dollar on Wednesday as compared to Tuesday's closing of 74.55.

F&O Cues

• Nifty July futures ended at 15,897.65; a premium of 18 points.

• Nifty July futures shed 1.20% and 2,298 shares in Open Interest

• Nifty Bank July futures ended at 35,896.80; a premium of 125.5 points

• Nifty Bank July futures shed 1.98% and 1,602 shares in Open Interest

• Securities added to the ban list: SAIL

• Securities that continue to be on the ban list: Indiabulls Housing Finance, PNB, Nalco and NMDC