Stocks To Watch: TCS, ICICI Bank, SBI, PI Industries, Sterling & Wilson

Asian markets remain muted this morning as investors analysed gains in the U.S. amid simmering tensions between U.S. and China. Markets in Australia and South Korea see modest gains while those in Japan are declining.

Futures on the Dow Jones are unchanged after the benchmark index ended 0.7% higher on Wednesday.

Here are the stocks to watch out for in today’s session:

• ICICI Bank: Board approves raising Rs 15,000 crore through equity. The fund raise may happen in one or more tranches via private placement, preferential issue, FPO or a combination thereof.
• State Bank of India: The executive committee of the bank's central board approves a maximum investment of Rs 1,760 crore in Yes Bank's FPO.
• State Bank of India: SBICAP to invest in Investec Capital Services India to form a Joint Venture entity. SBICAP Securities' institutional equities broking and research business will be transferred to the proposed entity.
• PI Industries: Board approves closure of QIP. Issue price has been fixed at Rs 1,470 per share, which is a 4.2% discount to the floor price and a discount of 11% to Wednesday's closing price.
• Can Fin Homes: Board to consider raising funds via equity and debt on July 17.
• TCPL Packaging: Announces that the entire promoter shareholding is free from encumbrance.
• Sterling & Wilson Solar: Promoters fail to repay the installment of Rs 500 crore out of the outstanding loans envisaged to be repaid by June 30. The promoters in a separate exchange filing on June 26, had expressed apprehension regarding the same. Promoters say that the repayment may spill beyond a few weeks due to Covid-19. The Board has insisted that the promoters provide the necessary security in respect to the June installment in an expeditious manner.
• Indian Overseas Bank: Reduces MCLR by 15-25 basis points across various tenors from July 10. One-month MCLR will now be 7.3% while one-year MCLR will be 7.75%.
• GE T&D India: ICRA has re-affirmed the long-term and short-term credit rating at ICRA A+ and ICRA A1+. Outlook on long-term ratings downgraded to negative from stable due to decline in the company's revenue, profitability and increase in it's working capital cycle.
• Dilip Buildcon: Allots NCDs worth Rs 200 crore.
• IRB Infra: Allots NCDs worth Rs 150 crore.
• Emami: SBI Mutual Fund reduces stake to 4.6% from 5.32%.
• Gufic Biosciences: Gets approval from South African Heath Products Regulatory Authority to manufacture Vancomycin after its manufacturing facility in Navsari was inspected by the National Institute of Pharmacy and Nutrition, Hungary. The company can now expand its business in South Africa.
• Shoppers Stop: Opens new store at Phoenix Mall in Lucknow, taking the total number of operational stores to 90.
• Nifty Earnings Today: TCS
• Non-Nifty Earnings Today: Arvind Fashions, Sadbhav Engineering, MEP Infra

Pledged Share Details

• DB Corp: Promoter DB Consolidated released pledge of 9.75 lakh shares on July 2
• JSW Steel: Promoters revoked pledge of 1 crore shares on July 2
• Adani Transmission: Promoter Adani Tradeline revoked pledge of 27.3 lakh shares on July 7

(As Reported On July 8)

Bulk Deals

• Tejas Networks: Kedia Securities acquired 7.54 lakh shares (0.82%) at Rs 49.13 per share. Kedia Securities is promoted by Vijay Kedia.
• Mangalore Chemicals and Fertilizers: Recovery Officer DRT sold 7.94 lakh shares (0.67%) at Rs 42.67 per share.
• Aditya Birla Fashion Rights Issue: Param Value Investments acquired 5 lakh shares at Rs 23 per share and Invesco MF sold 4.74 lakh shares at Rs 23 per share.

Who’s Meeting Whom

• Eicher Motors: To meet TIAA-CREF, Comgest Singapore and HDFC Standard Life Insurance on July 9 and 10.
• Great Eastern Shipping: To meet Unifi Capital on July 9

Trading Tweaks

• Ex-Date Rights Issue: PVR, Shriram Transport Finance
• AGM Date: HDFC, HDFC AMC, Federal Bank, Bombay Dyeing, JSW Holdings, Laurus Labs, Trident, RBL Bank, L&T Infotech, Advanced Enzyme Tech.
• Fund Raising: Punjab National Bank
• Price Band Revised From 10% To 5%: Thirumalai Chemicals, MTNL, IG Petrochem
• Move Into Short-Term ASM Framework: Kamat Hotels, Jiya Eco-Products
• Move Out Of Short-Term ASM Framework: Edelweiss Financial Services, Sharda Cropchem, Religare Enterprises, Vakrangee, Alembic, Onward Technologies.

F&O Cues

• Nifty July futures closed at 10,696; discount narrows to 10 points from 34 points
• Nifty July futures shed 4.2% and 4.9 lakh shares in Open Interest
• Nifty Bank July futures closed at 22,611, premium of 26 points from 25 points
• Nifty Bank July futures add 6.9% and 94,000 shares in Open Interest
• Nifty Put-Call Ratio at 1.38 from 1.63 across all series
• Stocks In F&O Ban: SAIL, BHEL, Equitas, Glenmark, Indiabulls Housing Finance

Nifty Monthly Expiry: July 9

• Maximum Open Interest on Call side at 11,000 strike (38.4 lakh shares)
• Maximum Open interest on Put side at 10,500 strike (27.5 lakh shares)
• Active Options: 10,000 Put (-12.6 lakh shares) and 10,800 Call (+10.5 lakh shares)

Nifty Monthly Expiry: July 30

• Maximum Open Interest on Call side at 11,500 strike (24.4 lakh shares)
• Maximum Open Interest on Put side at 10,000 strike (32.5 lakh shares)

F&O Buzzers & Fund Flows