Stock Market Today: All You Need To Know Before Going Into Trade On July 10

Asia-Pacific markets were trading on a mixed note early Wednesday as investors assessed latest comments from the US Federal Reserve Chair Jerome Powell before the Senate Banking committee.

The Nikkei 225 was trading flat at 41,578.76, while the KOSPI was 1.06 points or 0.04% lower at 2,866.32 as of 06:53 a.m. The S&P ASX 200 was trading 36.30 points or 0.46% lower at 7,793.40.

Market participants also await the crucial US consumer price index data for June, due to be published on Thursday.

US stocks were trading close to their all-time highs, with the S&P 500 rising for a sixth straight day on the back of Nvidia Corp. This comes as traders view Powell's statement as balanced. This also reinforced the speculation that the Fed will be able to cut rates this year.

The S&P 500 Index and Nasdaq Composite rose 0.07% and 0.14%, higher respectively as of Tuesday. The Dow Jones Industrial Average fell 0.13%.

Brent crude was trading 0.10% higher at $84.76 a barrel. Gold rose 0.11% to $2,366.68 an ounce.

The GIFT Nifty was trading 14 points or 0.06% higher at 24,478.50 as of 06:56 a.m.

India's equity benchmark indices rebounded sharply to end at a record high on Tuesday as shares of Maruti Suzuki India Ltd. and ICICI Bank Ltd. led gains. The NSE Nifty 50 settled 112.65 points, or 0.46% higher at 24,433.20, and the S&P BSE Sensex ended up 391.26 points, or 0.49% at 80,351.64.

Overseas investors stayed net buyers of Indian equities for the fifth consecutive session on Tuesday. Foreign portfolio investors mopped up stocks worth Rs 314.5 crore, while domestic institutional investors stayed net buyers for the second session and bought equities worth Rs 1,416.5 crore, according to provisional data from the National Stock Exchange.

The Indian currency closed flat at 83.49 against the US dollar.

• Mahindra and Mahindra: The automaker reduced the prices of top-end variants of the XUV700 SUV by almost Rs 1 lakh. The “celebratory” pricing is for four months only.

• RVNL: The company emerged as the lowest bidder for a Rs 203 crore railway contract from Southeastern Railway and signed an MoU with Tatweer Middle East and Africa to execute rail-based work in the MENA Region and European countries. The company has also received a project worth Rs 187 crore from Maharashtra Metro Rail Corp. to construct six elevated metro stations in Nagpur.

• Adani Power: The company’s unit, Mahan Energen, has entered into a 20-year power purchase agreement for 500 MW with Reliance Industries. Reliance Industries acquired a 26% stake in one of Mahan Energen's 600 MW thermal power units for the agreement.

• Havells India: The company is planning to expand the manufacturing capacity of cables at the Alwar plant. The company is also planning to make an investment of Rs 375 crore to add 41.2 lakh km of annual capacity by March 2026.

• JSW Steel: The consolidated crude steel production of the company fell 1% year-on-year and 6% sequentially in the first quarter of the current financial year, mainly due to planned maintenance shutdowns.

• H.G. Infra Engineering: The company signed a MoU with Ultra Vibrant Solar Energy for acquiring project development activities worth Rs 465 crore.

• Shilpa Medicare: The company’s Raichur API facility in Karnataka clears GMP inspection conducted by a Brazilian regulatory agency.

• Infosys: The company announced a strategic five-year collaboration with Sector Alarm to develop financial and business operating models. This development is to be brought in through cloud-based enterprise resource planning.

• IRM Energy: Karan Kaushal resigned as Chief Executive Officer effective July 31.

• Marathon Nextgen Realty: The presale value of Marathon Nextgen Realty Ltd. dipped 46% year-on-year to Rs 214 crore in the first quarter of this fiscal. The collection for the quarter, however, rose 17% to Rs 272 crore. The presales area in the first quarter fell 45% to 79,239 sq. ft. and the company's net debt for the quarter ended June stood at Rs 728 crore.

• Lloyd Metals and Energy: The company raised Rs 1,200 crore via QIP and allotted 1.75 crore shares at Rs 696 per share, indicating a 4.93% discount on the floor price.

• Adani Ports: The company received a letter of intent for developing and operating Berth No. 13 at Deendayal Port in Gujarat with a concession period of 30 years.

Delta Corp Q1 FY25 (Consolidated, YoY)

• Revenue down 30% at Rs 181 crore versus Rs 259 crore.

• EBITDA down 68% at Rs 31 crore versus Rs 96 crore.

• EBITDA margin at 16.9% versus 36.9%.

• Net profit down 68% at Rs 22 crore versus Rs 68 crore.

• Emcure Pharma: The company's shares will debut on the stock exchanges on Wednesday at an issue price of Rs 1,008 apiece. The Rs 1,952-crore IPO was subscribed to 67.87 times on its third and final day. Bids were led by institutional investors (195.83 times), retail investors (7.21 times), non-institutional investors (48.32 times), and a portion reserved for employees (8.81 times).

• Bansal Wire: The company's shares will debut on the stock exchanges on Wednesday at an issue price of Rs 256 apiece. The Rs 745 crore IPO was subscribed to 59.57 times on its third and final day. Bids were led by institutional investors (146.05 times), retail investors (13.64 times), and non-institutional investors (51.46 times).

• SG MART: SG Logistic Management sold 9 lakh shares (0.8%) at Rs 425.01 apiece.

• GMR Power and Urban Infra: F3 Advisors sold 43.5 lakh shares (0.72%) at Rs 93 apiece.

• Rama Steel Tubes: Aviator Global Investment Fund sold 1.1 crore shares (0.7%) at Rs 10.71 apiece.

• Vijaya Diagnostic Centre: Al Mehwar Commercial Investments L.L.C. sold 22.5 lakh shares (2.19%) at Rs 783 apiece, and Kotak Mahindra Mutual Fund bought 18 lakh shares (1.75%) at Rs 783 apiece.

• Styrenix Performance Materials: Promoter Shiva Performance Materials released a pledge for 75.14 lakh shares on July 8.

• Price band changes from 20% to 10%: Sharda Motor Industries.

• Ex/record Dividend: Crompton Greaves Consumer Electricals, Wheels India, Mphasis.

• Ex/record AGM: Wheels India, Crompton Greaves Consumer Electricals, Shoppers Stop, Mphasis.

• Ex/record Stock Split: PG Electroplast (Face Value Split (Sub-Division): From Rs 10/- per share to Rs 1/- per share).

• Moved into a short-term framework: GE Power India, Suven Life Sciences.

• Moved out of the of the short-term framework: PTC Industries.

• Rallis India: To meet analyst and Investors on July 19.

• Schneider Electric Infrastructure: To meet analyst and Investors on July 11.

• Nifty July futures up by 0.45% to 24,485.65 at a premium of 52.45 points.

• Nifty July futures open interest up by 1.64%.

• Nifty Bank July futures up by 0.11% to 52,615.75 at a premium of 46.95 points.

• Nifty Bank July futures open interest down by 0.34%.

• Nifty Options July 11 Expiry: Maximum Call open interest at 25,000 and Maximum Put open interest at 24,000. 

• Bank Nifty Options July 10 Expiry: Maximum Call Open Interest at 55,000 and Maximum Put open interest at 51,000.

• Securities in ban period: Aditya Birla Fashion And Retail, Balrampur Chini Mills, Bandhan Bank, Chambal Fertilisers And Chemicals, GNFC, IEX, Piramal Enterprises, India Cement, and Indus Towers.

The Indian currency closed flat at 83.49 against the US dollar.

• Here Are The Top Stock Picks For July By DRChoksey

• GAIL, ONGC - Multiple Growth Catalysts Beckon: Motilal Oswal

• IT Services Q1 Results Preview - Growth Acceleration, But Margins Likely To Be A Tad Lower: Anand Rathi

• IT Sector Q1 Results Preview - Sees Early Signs Of Recovery: DRChoksey

• India Healthcare Q1 Results Preview - U.S. To Drive Performance: Systematix

• Capital Goods Q1 Results Preview - Domestic Orders To Moderate; Margins In Focus: Prabhudas Lilladher

• Banks, Specialised NBFCs Q1 Preview - Growth To Remain Healthy Despite Seasonally Weak Quarter: Nirmal Bang

• Consumer Sector Q1 Results Preview - Steady Demand; Gradual Volume Improvement: Motilal Oswal

• Building Material Q1 Results Preview- Pipe Companies To Report Healthy Volume, Profitability: ICICI Securities

• Cement Q1 Results Preview - Quarter Marred By Weak Pricing: Prabhudas Lilladher

• Construction Sector Q1 Preview- Marked By Moderate Execution; But Weak Project Awarding Continues: Nirmal Bang

• Internet Q1 Results Preview: B2C Growth Momentum Sustaining, B2B Picking Up: ICICI Securities

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