Stock Market Today: All You Need To Know Before Going Into Trade On July 8
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
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Most markets in Asia-Pacific region were trading lower with Hong Kong's Hang Seng falling the most by over 1%. Japan's Nikkei and South Korea's Kospi traded 0.1% lower.
The September contract of Brent crude was trading 0.17% lower at $86.39 per barrel on the International Continental Exchange as of 06:59 a.m. The spot Gold was down 0.30% at $2,384.98.
The GIFT Nifty was trading 23.5 points or 0.1% lower at 24,384.50 as of 07:18 a.m.
The US stock market ended the week at all-time highs with traders focusing on prospects for Federal Reserve rate cuts. In the post-holiday session, the S&P 500 index and Nasdaq Composite rose by 0.54% and 0.04%, respectively. The Dow Jones Industrial Average gained 0.17%.
Indian benchmarks rose for the fifth week to record the best streak of weekly gains in over six months. Meanwhile, the indices erased loss during the last leg of trade on Friday, tracking gains in shares of Reliance Industries Ltd., State Bank of India, and Larsen & Toubro Ltd.
The NSE Nifty 50 settled 21.70 points, or 0.1%, higher at 24,323.85, and the S&P BSE Sensex ended 53.07 points, or 0.1%, lower at 79,996.60.
Overseas investors remained net buyers of Indian equities for the second consecutive day on Friday. Foreign portfolio investors mopped up stocks worth Rs 1,241.3 crore, while domestic institutional investors stayed net sellers for the third session and sold equities worth Rs 1,651.4 crore, according to provisional data from the National Stock Exchange.
The Indian currency closed flat at Rs 83.49 against the US dollar.
Stocks To Watch
Tata Motors: The company reported JLR wholesales were up 5% year-on-year at 97,775 units, and JLR retail sales up 9% at 1.11 lakh units, for the end of Q1 FY25.
Marico: The company’s international business delivered double-digit constant currency growth, consolidated revenue grew in high single digits, operating profit expected to grow slightly ahead of revenue, gross margin to expand on a year-on-year basis, expecting consolidated revenue growth to trend upwards during the year for the end of Q1 FY25.
IndusInd Bank: The company reported net advances up 16% year-on-year at Rs 3.48 lakh crore, deposits up 15% year-on-year at Rs 3.98 lakh crore, CASA ratio at 36.7% vs 37.9% QoQ.
Titan Industries: The company's Jewellery business grew 9% year-on-year, the Watches and wearables business grew 15% year-on-year, the Eyecare business grew 3%, the Carat Lane business grew 18%, Emerging businesses grew 4%, and the TCL business grew 9% for the end of Q1 FY25.
Adani Wilmar: The company saw volume growth of 13% year-on-year, and branded exports volume grew 36%, Food & FMCG business volume grew 23% after normalisation.
Tata Steel: The company's India crude steel production saw a 5% year-on-year jump at 5.25 million tonnes in the first quarter of this fiscal. However, the production was lower sequentially due to planned maintenance shutdowns. Tata Steel Ltd.'s Indian deliveries grew 3% year-on-year to 4.94 million tonne, which according to an exchange filing on Saturday is the best-ever first-quarter sales.
Indian Bank: The bank's gross advances increased 12.7% on a yearly basis to Rs 5.40 lakh crore in the April–June quarter. The bank's total business rose 10.9% year-on-year to Rs 12.21 lakh crore while the bank reported an advance of 9.5% in total deposits at Rs 6.81 lakh crore.
La Opala RG: The company will shut down operations at its opal glass plant in Madhupur, Jharkhand from July 7.
Datamatics Global Services: Sandeep Mantri resigned as CFO effective August 9.
Coforge: The company acquired an additional 28% stake in Cigniti Technologies for about Rs 1,072 crore via open market operations.
SBI Cards And Payment Services: Amritesh Mohan resigned as deputy CEO, owing to his transfer back to SBI.
Power Grid Corporation of India: The company will borrow funds up to Rs 16,000 crore funds during the FY 2025-26 through various sources including domestic bonds.
Dabur India: The company saw sequential improvement in demand trends with rural growth picking up, consolidated revenue expected to register mid to high single-digit growth, India business expected to record mid-single digit volume growth, In India business, HPC & Healthcare segment expected to grow in high-single digits, gross margins likely to witness some expansion, operating profit expected to grow marginally ahead of revenue for the end of Q1 FY24.
Bank of Baroda: The company reported domestic advances up 8.5% year-on-year at Rs 8.81 lakh crore, domestic deposits up 5.3% at Rs 11.05 lakh crore, Global advances up 8.1% at Rs 10.71 lakh crore, Global deposits up 8.8% at Rs 13.05 lakh crore, for the end of Q1 FY25. The company also approved raising up to Rs 10,000 crore via long-term bonds and approved raising additional capital to Rs 7,500 crore.
Aditya Birla Capital: Mukesh Malik to resign as COO effective July 31.
Garware Hi-Tech Films: Pradeep Mehta resigned as CFO effective today.
KPI Green Energy: The company signed a power purchase agreement for a 50 MW solar-wind hybrid project with Gujarat Urja Vikas Nigam.
Fortis Healthcare: The company recommended the re-appointment of Ashutosh Raguvanshi as MD & CEO for 2 years effective March 19.
Vedanta: Received fine and penalty of Rs 2.5 crore from office of the Commissioner of Customs, Chennai.
Signature Global: Pre-sales of Q1FY25 grew 3.5 times to Rs 3,120 crore on year. Collections rose twofold times to Rs 1,210 crore YoY and more than 30% of the FY25 guidance of Rs 10,000 crore in pre-sales was achieved in Q1 FY25.
PCBL: Gets patent for invention titled 'hybrid carbon black grade comprising graphene to improve performance of rubber compound.
FSN E-Commerce: Consolidated revenue growth in Q1FY25 expected to be around 22-23% YoY and GMV growth expected to be in mid-twenties on a YoY basis.
PC Jewellers: Consortium, including Punjab National Bank, approves company's proposal for one-time settlement of outstanding dues.
IPO Offering
Emcure Pharmaceuticals: The public issue was subscribed to 67.87 times on day 3. The bids were led by institutional investors (195.83 times), non-institutional investors (48.32 times), retail investors (7.21 times), Portion reserved for employees (4.83 times)
Bansal Wire Industries: The public issue was subscribed 59.57 times on day 3. The bids were led by institutional investors (146.05 times), non-institutional investors (51.46 times), retail investors (13.64 times).
Block Deals
Cigniti Technologies: Coforge bought 46.18 lakh shares (16.91%) at Rs 1398.5 apiece, while Kukunuru Madhava Lakshmi sold 15.49 lakh shares (5.67%) at Rs 1398.5 apiece, Promoter Sapna P who holds and sold 13.77 lakh shares (5.04%) at Rs 1398.5 apiece, Venkata Subramanyam Chakkilam sold 13.77 lakh shares (5.04%) at Rs 1398.5 apiece, Kukunuru Kumar Bapuji sold 3.13 lakh shares (1.14%) at Rs 1398.5 apiece.
Bulk Deals
HEG: Quant Mutual Fund sold 9.5 lakh shares (2.46%) at Rs 2260 apiece.
Bajaj HealthCare: Maa Sharda Distributors sold 10 lakh shares (3.62%) at Rs 316.95 apiece.
Inox Green Energy Services: Dovetail India Fund sold 20.65 lakh shares (0.61%) at Rs 168.19 apiece.
Medplus Health Services: PI Opportunities Fund - I sold 29.41 lakh shares (2.46%) at Rs 680 apiece.
Trading Tweaks
Price band Changes from 10% to 5%: Century Extrusions, Cochin Shipyard, Garden Reach Shipbuilders & Engineers.
Ex/record Dividend: Computer Age Management Services.
Ex/record AGM: Nucleus Software Exports.
Moved in short-term Framework: GM Breweries.
Who’s Meeting Whom
Sequent Scientific: To meet analyst and Investors on July 10.
L&T Finance: To meet analyst and Investors on July18.
F&O Cues
Nifty July futures up by 0.11% to 24,379.4 at a premium of 55.55 points.
Nifty July futures open interest down by 2.55%.
Nifty Bank July futures down by 0.86% to 52,724.10 at a premium of 63.75 points.
Nifty Bank July futures open interest down by 6.62%.
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 50,000.
Securities in ban period: Aditya Birla Fashion And Retail, Bandhan Bank, GNFC, Piramal Enterprises, India Cement, Hindustan Copper.
Money Market
The Indian currency closed flat at 83.49 against the US dollar.
Research Reports
HUDCO - Stepping Up Growth Accelerator In Infra Finance; Nirmal Bang Initiates Coverage With A Buy
Aegis Logistics - Riding On LPG Consumption; HDFC Securities Initiates Coverage With A Buy
Shriram Finance - Growth, Asset Quality In Good Shape: Yes Securities
BFSI Q1 Results Preview - Earnings Growth To Taper; RoAs Remain Healthy: Dolat Capital
Cement Q1 Results Preview - Ignorance Is Bliss: ICICI Securities
Consumer Durables Q1 Results Preview - Healthy Demand, Driven By Season: Prabhudas Lilladher
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