Stock Market Today: All You Need To Know Before Going Into Trade On July 11

Japan's benchmarks scaled fresh highs with the Nikkei 225 crossing historic 42,000 level, tracking sharp gains on tech stocks globally.

The Nikkei 225 rose to a fresh high of 42,426.77, and the Topix hit a new high of 2,946.60. Both the indices were trading 0.94% and 0.67% higher, respectively.

The Kospi and S&P ASX 200 were trading 0.83% and 0.82% higher, respectively.

US equities rose for the seventh straight day to hit fresh all-time highs on Wednesday. This is the longest winning run for the equities since November.

The S&P 500 Index and Nasdaq Composite rose 1.02% and 1.18%, respectively, as of Wednesday. The Dow Jones Industrial Average rose 1.09%.

Brent crude was trading 0.75% higher at $85.72 a barrel. Gold rose 0.12% to $2,374.02 an ounce.

The GIFT Nifty was trading 20 points or 0.08% lower at 24,387.50 as of 06:51 a.m.

The Indian benchmark equity indices logged their worst session since June 4 after hitting respective highs at open on Wednesday as shares of Mahindra & Mahindra Ltd. fell nearly 7%.

The NSE Nifty 50 closed 108.75 points or 0.45%, lower at 24,324.45, while the S&P BSE Sensex ended 426.87 points or 0.53%, lower at 79,924.77.

Overseas investors remained net buyers of Indian equities for the sixth consecutive session on Wednesday. Foreign portfolio investors mopped up stocks worth Rs 584 crore, while domestic institutional investors stayed net buyers for the second session and bought equities worth Rs 1,416.4 crore, according to provisional data from the National Stock Exchange.

The Indian currency weakened 4 paise to close at 83.53 against the US dollar.

• Sula Vineyards: The company saw the highest-ever first-quarter net revenue and own brand revenue. Net revenue grew 9.7% year-on-year to Rs 130 crore. Wine tourism revenue in the quarter was Rs 11.3 crore, down 2.5% year-on-year. Own brand revenue rose 2.7% to Rs 104.4 crore.

• Satin Creditcare Network: The company received 15 million euros in debt funding from Austria's OeEB.

• Trent: The company opened the 229th store in Faridabad, Haryana.

• Power Grid Corporation of India: The company will increase the current borrowing limit from its existing Rs 12,000 crore to Rs 15,000 crore during the financial year 2024–25. The board approved the proposal in a meeting on Wednesday and the company will seek shareholders' nods at the upcoming annual general meeting.

• Glenmark Pharmaceuticals: The company and Glen Saldanha will sell up to a 7.85% stake via an offer-for-sale at a floor price of Rs 810 per share. OFS will open for non-retail investors on July 11 and for retail investors on July 12.

• GE Power India: The company is to sell its hydro business undertaking to GE Power Electronics and its gas power business undertaking to GE Renewable Energy Technologies through slump sales.

• IRB Infrastructure Developers: The company's gross toll collection was up 35% year-on-year at Rs 517 crore in June.

• Bajaj Healthcare: The company approved raising up to Rs 137 crore through the preferential issue of shares.

• Shalby: The company received the Mumbai Charity Commissioner's nod for executing a 30-year lease for Asha Parekh Hospital in Santa Cruz, Mumbai. This order will enable Co. to construct a new 175+-bed healthcare facility.

• PTC Industries: The company mulls fundraising on July 13.

• IRCTC: The company, DMRC, and CRIS collaborated to promote the 'One India – One Ticket' initiative, enhancing the travel experience for main-line railway and metro passengers in the Delhi NCR area.

• Asian Paints: The company confirmed a price hike across the portfolio by approximately 1%, to be effective July 22.

• Oriana Power: The company received a new order worth Rs 155 crore for a 40 MWp solar plant in Rajasthan.

TCS Bloomberg Estimate

• Revenue estimate at Rs 62,128.4 crore.

• Ebit estimate at Rs 15,245.5 crore.

• Margin estimate at 24.5%.

• Net profit estimate at Rs 11,959 crore.

Kesoram Industries Q1 FY25 (Consolidated, YoY)

• Revenue down 12% at Rs 879 crore vs Rs 999 crore.

• Ebitda down 32.8% at Rs 70 crore vs Rs 105 crore.

• Ebitda margin at 7.9% vs 10.5%.

• Net loss of Rs 62 crore vs loss of Rs 32 crore.

Tata Elxsi Q1 FY25 (QoQ)

• Revenue up 2.3% at Rs 926 crore vs Rs 906 crore (Bloomberg estimate Rs 922.5 crore).

• Ebit down 3.6% at Rs 225 crore vs Rs 233.7 crore (Bloomberg estimate Rs 235.2 crore).

• Margin at 24.3% vs 25.8% (Bloomberg estimate 25.5%).

• Net profit down 6.5% at Rs 184 crore vs Rs 197 crore (Bloomberg estimate Rs 198.2 crore).

• Delhivery: Canada Pension Plan Investment Board sold 2.34 crore shares (3.18%) at Rs 388.45, FMRC Fidelity Emerging Markets Fund bought 61.9 lakh shares (0.83%) at Rs 388.45 apiece, ICICI Prudential Life Insurance bought 33.5 lakh shares (0.45%), Aditya Birla Sun Life Mutual Fund bought 25.94 lakh shares (0.35%) and among others at Rs 388.45 apiece.

• Mankind Pharma: Hema Cipef (I) sold 18.5 lakh shares (0.46%) at Rs 2,082 apiece, while ICICI Prudential Mutual Fund A/C through its affiliates bought 10.10 lakh shares (0.25%) at Rs 2,082 apiece, Morgan Stanley Asia Singapore Pte bought 3.36 lakh shares (0.08%) and among others at Rs 2082 apiece.

• FSN E-Commerce Ventures: Canada Pension Plan Investment Board sold 1.47 crore shares (0.51%) at Rs 174.04 apiece, ICICI Prudential Mutual Fund A/C through affiliates bought 1.47 crore shares (0.51%) at Rs 174.04 apiece.

• Price band changes from 10% to 5%: PC Jeweller,

• Price band changes from 20% to 10%: GE Power India, Rail Vikas Nigam.

• Price band changes from 20% to 5%: Raymond.

• Ex/record Dividend: Route Mobile, Oriental Hotels, Century Textiles & Industries, Vimta Labs.

• Ex/record Demerger: Raymond.

• Ex/record AGM: Century Textiles & Industries, Vimta Labs.

• Moved in short-term Framework: Bombay Burmah Trading Corporation, Dynamic Services & Security, Omaxe, and Optiemus Infracom.

• Moved out short-term Framework: Atul Auto, ION Exchange (India), Orient Cement, and Solara Active Pharma Sciences.

• Jana small Finance Bank: To meet analyst and Investors on July 22.

• Nifty July futures down by 0.53% to 24,355.05 at a premium of 30.6 points.

• Nifty July futures open interest down by 2.8%.

• Nifty Bank July futures down by 0.55% to 52,318.60 at a premium of 129.3 points.

• Nifty Bank July futures open interest down by 8.96%.

• Nifty Options July 11 Expiry: Maximum Call open interest at 24,500 and Maximum Put open interest at 24,000. 

• Bank Nifty Options July 16 Expiry: Maximum Call Open Interest at 55,000 and Maximum Put open interest at 52,000.

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

The Indian currency weakened 4 paise to close at 83.53 against the US dollar.

• EMS Industry - Dixon, Kaynes, PG Electroplast, Amber Likely To Post Strong Q1 FY25 Results: Systematix

• Budget 2024 Expectations: Increase In Customs Duty (If Any) To Benefit EMS Companies: ICICI Securities

• Dixon Technologies - Opulently Valued; Downgrade To Reduce: HDFC Securities

• Info Edge - Stock Price May Have Run Up Ahead Of Fundamentals; Downgrade To Hold: ICICI Securities

• Raymond - Pushing For Growth With Simplifying Structure: Motilal Oswal

• Oil & Gas Q1 Results Preview - Higher Gas Demand To Benefit GAIL, Petronet LNG; CGDs Margin To Dip: Systematix

• Media, Entertainment Q1 Results Preview - Seasonality To Benefit Parks, But Media Subdued: Prabhudas Lilladher

• Banks Q1 Preview- Seasonality To Ensue; Pressure On NII/PAT Growth But RoA To Remain Healthy: ICICI Securities

• Chemical Sector Q1 Results Preview - Raising Sumitomo Chemical To Buy Amid India CPC Revival: Nirmal Bang

• Oil And Gas Q1 Results Preview – Weak Start To FY25: ICICI Securities