All You Need To Know Going Into Trade On October 11

U.S. equity futures retreated Monday and Asian stocks were mixed amid risks to the pandemic recovery from an energy crunch and the prospect of tighter monetary policy to fight inflation.

Shares dropped in Australia and edged up in Japan, while S&P 500 and Nasdaq 100 contracts were in the red. U.S. equities declined Friday after jobs growth data fell significantly short of expectations but also showed a jump in earnings.

The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, fell 0.18% to 17,886 as of 7 a.m.

Treasury futures fell, after the 10-year U.S. Treasury yield advanced past 1.6% on Friday. Elsewhere, tension over Taiwan is simmering.

President Tsai Ing-Wen said the island is facing “unprecedented challenges” and will defend its sovereignty, pushing back after Chinese leader Xi Jinping declared a day earlier that unification will be achieved. Taiwan’s markets are closed for a holiday. In cryptocurrencies, Bitcoin edged down to trade around $55,000.

Earnings Post Market Hours

TCS Q2FY22 (Consolidated, QoQ)

• Revenue up 3.21% at Rs 46,867 crore Vs Rs 45,411 crore

• Profit up 6.84% at Rs 9,624 crore Vs Rs 9,008 crore

• Ebit up 3.56% to Rs 12,000 crore Vs Rs 11,588 crore

• Ebit margin at 25.6% Vs 25.5%

• Declared a second interim dividend of Rs 7 per equity share

Stocks To Watch

• Reliance Industries: Reliance New Energy Solar, a subsidiary of the company, has acquired REC Solar Holdings AS from China National Bluestar Co for an enterprise value of $771 million. REC Solar is one of the world's leading solar cell, panels and polysilicon manufacturer.

• Tata Motors: Jaguar Land Rover Q2 FY22 retail sales continued to be constrained by the impact of the global semiconductor shortage on production, with wholesales for the period in line with July guidance. Retail sales were down 18.4% year-on-year at 92,710 vehicles Vs 1,13,569 vehicles. Wholesales totalled 64,032 units (excluding the China JV), down 12.8% YoY.

• Tata Group stocks: Tata Sons emerged as the winning bidder of Air India. It made an offer of Rs 18,000 crore. The reserve price was Rs 12,906 crore. Tata Group will get 100% stake in Air India, including its wholly owned subsidiary Air India Express, and 50% in ground handling unit Air India SATS Airports Services Pvt.

• Maruti Suzuki India: Total production in September down 51.06% to 81,278 units Vs 1,66,086 units last year.

• GOCL Corporation: IDL Explosives, a subsidiary of company, has bagged order of Rs 592.45 crore from Coal India, for supply of bulk explosives, to be supplied over a period of 2 years.

• Cadila Healthcare: Fortress Biotech partner company Cyprium Therapeutics, with support from its licensing partner Sentynl Therapeutics, has announced positive results from an efficacy and safety analysis of data integrated from two completed pivotal studies in patients with Menkes disease treated with CUTX-101, copper histidinate.

• Jubilant Ingrevia: To acquire of 26.60% stake in AMP Energy Green Fifteen for Rs 5.11 crore. The acquisition is expected to be completed in six months. The company has acquired stake in AMP to put up solar power plant with capacity of 15.5 MW under captive scheme.

• Gujarat Pipavav Port: Q2 container volume down 6.54% year-on-year at 157 TEUs versus 168 TEUs. Dry bulk volume up 52.74% at 1.39 MT Vs 0.91 MT.

• Equitas Small Finance Bank: Provisional Q2 FY22 CASA Ratio at 45% compared to 40% in Q1. Total deposits up 6% at Rs 18,094 crore Vs Rs 17,095 crore. Gross Advances at Rs 18,981 crore Vs Rs 17,837 crore.

• Adani Total Gas: The company has forayed into compressed bio-gas business. It has signed a definitive agreement with Shri Mataji Gauvansh Seva Sansthan for exclusively collaborating on the establishment of a bio-conversion plant with a design capacity of about 350 tonnes per day of feed processing at Mathura, Uttar Pradesh based on cattle dung as the primary biomass along with other biomass including napier grass, press mud, etc.

• TCS: Board has approved the re-appointment of Rajesh Gopinathan as CEO and MD for a term of five years from February 21, 2022.

• RITES: The company has named Rahul Mithal as Chairman and MD.

• Gland Pharma: The company has received tentative approval from the U.S. FDA for Sugammadex Injection. The injection is used to reverse the effects of the muscle relaxants Rocuronium Bromide and Vecuronium Bromide given to patients during surgery.

• Bank of Maharashtra: The bank has reduced Marginal Cost of Funds Based Lending Rate by 0.10% across tenors. The Repo Rate Linked Lending Rate has been revised from 6.90% to 6.80% w.e.f. October 11.

• Earnings: Delta Corp, HFCL, Krsnaa Diagnostics, Ramkrishna Forgings, Saregama India, Tata Metaliks, Tinplate Company of India.

• HCL Tech rated new Neutral at Haitong Intl; price target Rs 1,326

• TCS cut to Reduce at Dolat Capital; price target Rs 3,770

• Aditya Birla Sun Life AMC’s shares to start trading after an IPO, gets 5.25 times demand for shares offered

Offerings

• One MobiKwik Systems has received SEBI approval for its Rs 1,900 crore IPO.

• Radiant Cash Management files for IPO, reports says.

Bulk Deals

• Nazara Technologies: WHV-EAM International Small Cap Equity Fund bought 2.14 lakh shares (0.71%) at Rs 3,011.27 per share.

Who's Meeting Whom

• Meghmani Finechem: To meet Motilal Oswal Asset Management on October 11.

Trading Tweaks

• Ex-Date Final Dividend: Asian Granito India

• Record Date Stock Split: DCM Shriram Industries

• Move Into Short-Term ASM Framework: Suven Life Sciences

• Move Out Of Short-Term ASM Framework: Meghmani Finechem

• Move Into ASM Framework: Meghmani Finechem, Gulshan Polyols, Bajaj Hindusthan Sugar, Newgen Software Technologies, Uttam Sugar Mills, HFCL, Somany Ceramics, Greenpanel Industries, Tejas Networks, Poonawalla Fincorp, Godawari Power and Ispat, Supreme Petrochem, Tata Steel Long Products, Adani Green Energy, PNB Housing Finance, Affle (India), Ashapura Minechem, Borosil Renewables

• Move Out Of ASM Framework: Zee Media Corporation, Gokaldas Exports, PNB Gilts, KCP,

• Price Band Revised From 5% To 10%: Affle (India), Ashapura Minechem, Borosil Renewables, Indo Rama Synthetics (India), Supreme Petrochem

Money Market Update

• The rupee ended at 74.99 against the U.S. Dollar on Friday as compared to Thursday's closing of 74.78.

F&O Cues

• Nifty October futures ended at 17,913, a premium of 17.8 points.

• Nifty October futures added 3.72%, and 9,125 shares in Open Interest.

• Nifty Bank futures ended at 37,930, a premium of 154.75 points.

• Nifty Bank October futures added 1.62%, and 1,113 shares in Open Interest.

• Securities in the ban list: Nalco, Canara Bank, Indiabulls Housing Finance, Punjab National Bank, SAIL

• Securities added to the ban list: IRCTC, Sun TV