Most markets in Asia-Pacific region were trading lower in absence of cues from US peers, while investors keenly await non-farm payroll data, due to be published later today.
The Nikkei 225 was trading 39.05 points or 0.1% lower at 40,874.60 as of 06:52 a.m. The index scaled a fresh high of 41,100.13.
Japan house hold spending dropped to 1.8% in May, against a expectation of 0.1% gain. It's a key metric that the Bank of Japan watches to assess 'virtuous' cycle of wage and price hike, according to Dow Jones.
The Kospi was trading 0.71% higher, while the S&P ASX 200 was down 0.1% as of 06:57 a.m.
The September contract of Brent crude was trading 0.05% higher at $87.47 per barrel on the International Continental Exchange as of 06:59 a.m. The spot Gold was 0.05% up at $2,357.83.
The GIFT Nifty was trading 4.5 points or 0.02% higher at 24,363.00 as of 07:00 a.m.
The benchmark equity indices extended their record rally for the second consecutive session but ended little changed on Thursday as gains in information technology shares were offset by losses in HDFC Bank Ltd.
The NSE Nifty 50 ended 15.65 points, or 0.06%, up at 24,302.15, while the S&P BSE Sensex was 62.87 points, or 0.08%, up at 80,049.67, closing above the 80,000 mark for the first time.
Overseas investors stayed net buyers of Indian equities for the second consecutive day on Thursday. Foreign portfolio investors mopped up stocks worth Rs 2,575.85 crore, while domestic institutional investors stayed net sellers for the second session and sold equities worth Rs 2,375.18 crore, according to provisional data from the National Stock Exchange.
The Indian currency strengthened by 3 paise to close at 83.50 against the US dollar.
Stocks to Watch
HDFC Bank: The bank's gross advances fell 0.8% quarter-on-quarter at Rs 24.87 lakh crore, while the deposits were flat at Rs 23.79 lakh crore. CASA deposits were down 5% quarter-on-quarter at Rs 8.63 lakh crore for the end of the first quarter in FY25.
Raymond: The company approved the demerger of its real estate arm, Raymond Realty subject to approval of shareholders and regulators. The company will issue 6.65 crore shares of Raymond Realty having a face value of Rs 10 per share, upon demerger. One share of Raymond Realty will be given for every share held in the parent firm.
Poonawalla Fincorp: The lending company reported total disbursements at Rs 7,400 crore up 5% year-on-year, and AUM was up 52% at Rs 26,970 crore, for the end of the first quarter in FY25.
IDBI Bank: The bank's total business was up 15% year-on-year at Rs 4.71 lakh crore, while the deposits were up by 13% year-on-year at Rs 2.77 lakh crore. CASA deposits grew 5% year-on-year at Rs 1.34 lakh crore for the end of the first quarter in FY25.
Punjab National Bank: The bank's domestic advances were up 12.1% year-on-year at Rs 9.89 lakh crore, while domestic deposits grew 8.1% year-on-year at Rs 13.7 lakh crore. Global advances were up 12.7% at Rs 10.33 lakh crore and global deposits were up 8.5% at Rs 14.08 lakh crore for the end of the first quarter in FY25.
ESAF Small Finance Bank: The bank reported a 30% year-on-year jump in gross advances at Rs 18,783 crore, while deposits grew 33.4% year-on-year at Rs 20,887 crore. CASA ratio was at 23.59% against 18.22% quarter-on-quarter for the end of year-on-year
RVNL: The company signed a MoU with Delhi Metro Rail Corp for participation in upcoming projects in India and abroad.
UCO Bank: The bank's total business advanced 11.5% year-on-year at Rs 4.62 lakh crore, while total advances grew 17.8% year-on-year at Rs 1.94 lakh crore. The total deposits were up 7.4% at 2.68 lakh crore year-on-year and the CASA ratio remained at 38.62% vs 39.25% quarter-on-quarter for the end of Q1 FY25.
RBL Bank: The bank's total deposits went up 18% year-on-year at Rs 1.01 lakh crore, while gross advances were up 18% at Rs 88,455 crore. CASA ratio was at 32.6% against 35.2% reported in the previous quarter.
Ujjivan Small Finance Bank: The bank reported a 22% year-on-year jump in total deposits at Rs 32,500 crore, while gross loan book grew at up 19% at Rs 30,091 crore. CASA ratio was at 25.6% against 26.5% reported in the previous quarter.
Lloyds Metal and Energy: The company has opened QIP, sets 732.08 per share.
Ircon International: The company’s JV received a Rs 750 crore order from RVNL for the installation of tracks in Uttarakhand. The company holds a 60% stake in the project.
Solar Industries India: The company’s step-down unit acquires a 73.99% stake in South Africa's Problast BS.
IDFC First Bank: Life Insurance Corporation of India acquired 2.48% of the additional stake in IDFC First Bank for Rs 1,500 crore. The current stake stands at 2.68%.
Mahindra Lifespace Developers: The company was selected as a preferred partner for the redevelopment of 7 residential societies in Mumbai. The project has an estimated GDV of Rs 1,800 crore. The company also acquired land in Bengaluru with an estimated GDV of Rs 250 crore.
BGR Energy Systems: The company is to raise up to Rs 100 crore via a rights issue.
Sanghvi Movers: The company incorporated a wholly-owned subsidiary, Sangreen Logistics.
CG Power And Industrial Solutions: The company entered into a development agreement with Skybound Realty for the joint development of the company’s property 'CG House' in the Worli region in Mumbai.
Delhivery: The Ministry of Corporate Affairs approved the incorporation of a wholly owned subsidiary, Delhivery Robotics India.
Nazara Technologies: The company incorporated a wholly owned US-based subsidiary, Nazara US Inc. in Delaware.
FSN E-commerce And Ventures: The company arm incorporated a wholly owned subsidiary, Nysaa Cosmetic Trading in Qatar
KDDL: The company is to consider a buyback proposal on July 9.
Welspun Specialty Solutions: Gujarat Pollution Control Board has revoked the notice of closure for company's Jhagadia plant for 3 months.
Samvardhana Motherson International: The company declared the successful pricing of its secured guaranteed notes— 144A/Reg S 5.625% US dollar senior, totaling $350 million, through its subsidiary— SMRC Automotive Holdings Netherlands B.V., with a corporate guarantee from SAMIL. This fundraising through the issuance of notes marks the return of Motherson Group's to the US$ bond market after eight years.
IPO Offering
Emcure Pharmaceuticals: The public issue was subscribed to 4.98 times on day 2. The bids were led by institutional investors (1 times), non-institutional investors (13.67 times), retail investors (3.43 times), Portion reserved for employees (4.83 times)
Bansal Wire Industries: The public issue was subscribed to times 5.73 on day 2. The bids were led by institutional investors (0.09 times), non-institutional investors (12.16 times), retail investors (6.19 times).
Block Deals
Godrej Consumer Products: Godrej Seeds & Genetics bought 30. 57 lakh shares (0.29%), while BNG Successor Trust, HNG Family Trust and SNG Successor Trust collectively sold 30.57 lakh shares (0.29%) at Rs 1,367.05 apiece.
Bulk Deals
Restaurant Brands Asia: HDFC Mutual Fund bought 45.5 lakh shares (0.91%) at Rs 110.46 apiece.
Cigniti Technologies: Coforge bought 30.21 lakh shares (11.06%) at Rs 1412.25 apiece, Ashika Credit Capital sold 1.99 lakh shares (0.73%) at Rs 1,395.07 apiece.
Cupid: Minerva Ventures Fund sold 15 lakh shares (0.55%) at Rs 87.64 apiece.
Trading Tweaks
Price band Changes from 10% to 5%: Usha Martin Education & Solutions.
Price band Changes from 20% to 10%: Mazagon Dock Shipbuilders.
Ex/record Dividend: Mahindra and Mahindra, Redington, Thermax, Piramal Enterprises, Nucleus Software Exports, Navin Fluorine International, Biocon, Bharat Forge, Balkrishna Industries, AstraZeneca Pharma India, Apollo Tyres, Allsec Technologies, 3M India, Welspun Enterprises, Escorts Kubota, Sundaram Finance.
Ex/record Special Dividend: 3M India.
Ex/record AGM: Mahindra and Mahindra, Welspun Enterprises, Escorts Kubota.
Moved in short-term Framework: Kingfa Science & Technology, Refex Industries, Zen Technologies.
Who’s Meeting Whom
Zaggle Prepaid Ocean Services: To meet analyst and Investors on July 10.
Mahindra Lifespace Developers: To meet analyst and Investors on July 25.
Gravita India: To meet analyst and Investors on July 9.
Aegis Logistics: To meet analyst and Investors on July 9.
F&O Cues
Nifty July futures up by 0.1% to 24,359 at a premium of 57.3 points.
Nifty July futures open interest up by 0.43%.
Nifty Bank July futures up by 0.19% to 53,166.2 at a premium of 62.5 points.
Nifty Bank July futures open interest up by 0.37%.
Nifty Options July 11 Expiry: Maximum Call open interest at 25,000 and Maximum Put open interest at 23,000.
Bank Nifty Options July 10 Expiry: Maximum Call Open Interest at 55,000 and Maximum Put open interest at 53,000.
Securities in ban period: Aditya Birla Fashion and Retail, Bandhan Bank, Piramal Enterprises, India Cements, Hindustan Copper.
Money Market
The Indian currency weakened 3 paise to close at 83.53 against the US dollar.
Research Reports
IT Services Q1 Results Preview - More Of The Same Is Good News: HDFC Securities
Nazara Technologies - Nodwin Expands Into Developed Markets: Prabhudas Lilladher
Persistent Systems - Starfish, A Tuck-In Acquisition Ticking All The Boxes: ICICI Securities
ITC - Progressing Steadily; Expects Gradual Macro Recovery: Motilal Oswal
Switch To Prestige Estates From Oberoi Realty, DLF To Capture Growth, Says Yes Securities
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