All You Need To Know Going Into Trade On October 14

Stocks rose Thursday as traders assessed the durability of the economic recovery to inflationary pressures and a looming reduction in the Federal Reserve’s pandemic-era stimulus.

Equities climbed in Japan, South Korea and Australia. U.S. futures pushed higher after Wall Street snapped a three-day losing streak, with the tech-heavy Nasdaq 100 outperforming the S&P 500.

The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, rose 0.46% to 18,263 as of 7 a.m.

Longer term Treasuries pared a rally, while a key part of the Treasury yield curve has flattened to around a one-year low. U.S. inflation held above 5% and Fed minutes signaled a tapering of bond purchases from mid-November or mid-December. Meanwhile, a 30-year Treasury auction drew strong demand.

Crude oil stabilized above $80 a barrel and gold was near the highest in nearly a month. In cryptocurrencies, Bitcoin has resumed its rally, taking the largest token above $57,000.

Earnings Post Market Hours

Infosys Q2FY22 (Consolidated, QoQ)

• Revenue up 6% at Rs 29,602 crore Vs Rs 27,896 crore

• Net profit up 4% at Rs 5,421 crore Vs Rs 5,195 crore

• Ebit up 6% at Rs 6,972 crore Vs Rs 6,603 crore

• Margin at 23.6% Vs 23.7%

• Declared an interim dividend of Rs 15 per equity share.

Wipro Q2 FY22 (Consolidated, QoQ)

• Revenue up 7% at Rs 19,668.90 crore Vs Rs 18,467.40 crore

• Net profit down 9.62% at Rs 2,930.70 crore Vs Rs 3,242.60 crore

• Ebit up 1% at Rs 3,398.70 crore Vs Rs 3,369.30 crore

• Margin at 17.3% Vs 18.2%

Mindtree Q2 FY22 (Consolidated, QoQ)

• Revenue up 13% at Rs 2,586.20 crore Vs Rs 2,291.70 crore

• Net profit up 16% at Rs 398.90 crore Vs Rs 343.40 crore

• Ebit up 16% at Rs 469.70 crore Vs Rs 406.30 crore

• Margin at 18.2% Vs 17.7%

• Approved interim dividend of Rs 10 per equity share

Stocks To Watch

• Dish TV India: The company’s board has agreed that the EGM cannot be called as sought by Yes Bank. The board has also instructed the management to send a detailed response to the bank. “Yes Bank being a banking company and it's shareholding in the company being a consequence of invocation of pledges, there are certain embargos under the provisions of the Banking Regulation Act, 1949 read with SEBI Regulations, 2011, because of which the said resolutions cannot be placed before the shareholders.”

• Reliance Industries: Invesco had assisted the company in arranging discussions with Zee Entertainment Enterprises MD Punit Goenka between February and March this year. The company made ‘broad proposal’ for merger of media operations with Zee at fair valuations. Proposal included continuation of Goenka as MD and issue of ESOPs to management. Goenka and Invesco had differences on requirement of founding family increasing stake. Consequently, the company decided not to proceed further, it said.

• Zee Entertainment Enterprises: Board filed response to Invesco's open letter to shareholders and clarified deal with Sony. Invesco should stop publishing "half truths" about proposed Sony deal. Non compete fee to Zee promoters in Sony deal is a secondary transfer and will not be dilutive to public shareholders. Quantum of promoter shareholding in Sony deal is less than in Reliance deal proposed by Invesco. Invesco has cast unsubstantiated aspersions on company and board. Invesco's actions are motivated by concerns entirely extraneous to any corporate governance issue.

• Westlife Development: The company will add 150-200 stores and invest Rs 800-1,000 crore across the business over the next 3-4 years. All these initiatives are expected to create 6,000-8,000 direct and indirect jobs in the industry.

• UltraTech Cement: The company commissioned 1.2 mtpa cement capacity in October 2021, which will help the company to service the fast-growing cement demand in the Eastern markets. The additional capacity will cost company Rs 400 crore.

• KEC International: The company has completed the acquisition of Spur Infrastructure and hence it is now a wholly owned subsidiary of the company.

• PTC India: The company’s Chairman and Managing Director, Deepak Amitabh, has resigned from the post w.e.f. November 5, 2021.

• Earnings: HCL Technologies, Mahindra CIE Automotive, Indiabulls Real Estate, Inox Wind, Inox Wind Energy, GTPL Hathway, Den Networks, Cyient, Century Textiles & Industries

Pledge Share Details

• Future Retail: Promoter Future Corporate Resources invoked pledge of 4.76 lakh shares on October 11.

Trading Tweaks

• Ex-Date Interim Dividend: TCS

• Record Date Interim Dividend: Man Infraconstruction

• Record Date Bonus Issue: SRF

• Record Date Stock Split: Dhanvarsha Finvest

• Price Band Revised From 10% To 5%: Borosil Renewables

• Move Into Short-Term ASM Framework: NXTDIGITAL, Radico Khaitan, Associated Alcohols & Breweries, Inox Wind, Best Agrolife, Network18 Media & Investments

• Move Out Of Short-Term ASM Framework: Godfrey Phillips India, Trident

• Move Into ASM Framework: Trident

Money Market Update

• The rupee ended at 75.37 against the U.S. Dollar on Wednesday as compared to Tuesday's closing of 75.51.

F&O Cues

• Nifty October futures ended at 18,178, a premium of 16.25 points.

• Nifty October futures shed 0.85%, and 2,149 shares in Open Interest.

• Nifty Bank October futures ended at 38,698.25, a premium of 62.5 points.

• Nifty Bank October futures added 2.93%, and 1,891 shares in Open Interest.

• Securities in the ban list: Nalco, Indiabulls Housing Finance, Punjab National Bank, SAIL, Sun TV, Bank of Baroda

• Securities removed from the ban list: IRCTC

• Securities added to the ban list: BHEL, Vodafone Idea