Pre Market Updates for 12 July 2022
@AlliesFin Telegram.me/AlliesFinMKT. UPDATES :
SGX Nifty -💯 pts (16089) from last trade 16189 ,
Nikkei -435 pts ,
Hangseng -219 pts ,
Now @6.52am .
Dow -164.31 pts ,Nsdq -262.71 pts, S&P
-44.95 pts, Bovespa -2076 pts , Ftse +0.35 pts , Dax -182 pts , Cac -36 pts , Crude @ $102.95 brl (-1.45), Brent @ $107.10 brl (+0.27) , Gold @ 1732.20 (+0.50), Silver @ $19.06 (-0.07), Euro @ $1.0044, JPY @ $137.36, INR @ 79.415
🔹US GOVT. 10-YEAR YIELD : 2.97%
Today's Corporate Action, 12 July Ex Date :
SESHAPAPER
Final Dividend - Rs. - 2.5000
Today's Key Results/Board Meetings, 12-Jul-22 :
ALPHALOGIC
General;Quarterly Results
ARTSONEN
Quarterly Results
ASRL
General;Quarterly Results
DYNAMICP
General
EXCEL
General
GOACARBON
Quarterly Results
HCLTECH
Interim Dividend;Quarterly Results
INDITALIA
General
ROSSELLIND
Amalgamation
SGRLQuarterly Results
SWISSMLTRY
Quarterly Results
VIRINCHI
Quarterly Results
SEC. IN F&O BAN FOR, 12 JUL, 2022 :
1. NIL
ADDITION : NIL
DELETION : NIL
Today's Alert :
RBI to Conduct Auction of SDLS BONDS for INR 80 Billion
US Markets in Detail...
SGX: 16,169 (-30) (-0.18%)
Provisional Cash Rs. In Crs. (11th July)
FIIs: -170 (5,294 – 5,465)
DIIs: -297 (4,558 – 4,855)
Today’s major corporate earnings: ANANDRATHI, ARTSONENG, DELTACORP, GOACARBON, HCLTECH, PLASTIBLEN, SEL, SWSOLAR, TRIDENTTEXOFAB, ETC
Sunidhi Estimates for Economic Releases (Mr Siddharth Kothari, our economist):
India June CPI Inflation due for release at 5:30 PM on 12th July
Headline CPI Inflation seen at 7.32% YoY in June vs 7.04% in May and 6.26% year ago. Core CPI Inflation is seen at 6.11% YoY in June vs 6.09% in the previous month and 6.11% year ago.
India May IIP data due for release at 5:30 PM on 12th July.
India Industrial Output for May’22 is seen rising 22.9% YoY vs7.1% in April and 27.6% year ago. The internals on Mining output is expected to increase by 11.7% YoY; Manufacturing to expected to grow 24.8% YoY and Electricity generation is seen rising 23.5%.
India WPI Inflation due for release on 14th July 11, 2022 at 12:00
India June WPI Inflation is seen at 15.13% YoY in June vs 15.88% in May and 10.53% year ago. Manufacturing Inflation is seen at 9.29% YoY vs 10.11% in the previous month and 10.96% year ago.
Sensex: 54,395 (-87) (-0.16%)
Nifty: 16,216 (-5) (-0.03%)
BankNifty: 35,470: +347: +0.98%
NiftyIT: 27,381 (-870) (-3.08%)
MIDCAP: 22,798: +143: +0.63%
Dow: 31,174 (-164) (-0.52%)
S&P: 3,854 (-45) (-1.15%)
Nas: 11,373 (-263) (-2.26%)
Brazil: 100,289 (-441) (-0.44%)
Ftse: 7,197: flat
Dax: 12,832 (-183) (-1.40%)
Cac: 5,996 (-37) (-0.61%)
MOEX: 2,162 (-60) (-2.71%)
WTI Oil: $104.09 (-0.67%)
Brnt: $106.41 (-0.57%)
Gold: $1,732 (-11) (-0.61%)
Silver: $19.13 (-0.54%)
Copper: $343 (-9) (-2.6%)
Copper (LME): $7,806 (-17) (-0.22%)
Alluminum (LME): $2,437 (-6) (-0.25%)
Zinc (LM): $3,099 (-11) (-0.35%)
Tin (LME): $25,364 (-620) (-2.39%)
Eur-$: 1.0038
GBP-$: 1.1891
Jpy-$: 137.43
Re: 79.4375: +0.23%
USD = RUB: 64.6108: +3.42%
US10yr: 2.99%
GIND10YR: 7.427: +0.16%
$ Index: 108.2290: +1.22: +1.14%
US Vix: 26.17: +6.21%
India Vix: 18.3675 (-0.15%)
BalticDry: 2,067 (-6) (-0.29%)
ADR/GDR
Cogni (-1.97%)
Infy (-3.15%)
Wit (-2.09%)
IciciBk (-0.31%)
HdfcBk (-0.77%)
DrRdy: +1.04%
TataMo (-2.29%)
TatSt (-2.24%)
Axis: +0.35%
SBI (-0.97%)
RIGD (-0.16%)
INDA (-0.30%) (IShares MSCI INDIA ETF)
INDY (-0.69%) (IShares MSCI INDIA 50 ETF)
EPI (-0.07%) (Wisdom Tree India Earning)
PIN (-0.39%) (Invesco India Etf)
Nasdaq (breaks 5-day win streak) leads stocks to lower finish as investors weigh restrictions in China, await U.S. inflation data and the start of the earnings season for clues on whether the economy is headed for a recession. The dollar rallied.: Twitter shares slide 11% as Elon Musk moves to terminate deal
Stocks posted their biggest declines in more than a week on Monday, as investors evaluated China’s crackdown on a new COVID-19 subvariant and braced for the likelihood of another hot U.S. inflation reading in two days.
A selloff in megacaps like Tesla Inc. and Apple Inc. weighed heavily on the equity market -- which saw its lowest trading volume of 2022. Twitter Inc. plunged 11% as Elon Musk walked away from his $44 billion deal to buy the company, setting the scene for a legal battle. The euro edged closer toward parity with the greenback, while 10-year US yields dropped below 3%.
The Dow Jones Industrial Average DJIA finished down by 164.31 points, or 0.5%, at 31,173.84, after briefly popping into positive territory in early afternoon trade.
It’s always about earnings. The expectation has been for a year now that it’s not about the trailing earnings, it’s about the future economic expectations. It really hasn’t mattered what people have reported in the way of revenue earnings. It’s been the talk that they’ve had about how they expect their future business to look.
The season kicks off with earnings from PepsiCo and Delta Air Lines on Tuesday and Wednesday, followed by bank stocks JPMorgan Chase, Morgan Stanley, Wells Fargo and Citigroup later in the week.
Meanwhile, the 2-year Treasury yield hovered above its 10-year counterpart, an inversion many see as a recession indicator. The 2-year rate on Monday traded at 3.07%, while the 10-year stood at 2.99%.
The major stock indexes had risen last week, with the S&P 500 up 1.9%, the Dow Jones Industrial Average higher by 0.8% and the Nasdaq Composite gaining 4.6%
Volume on U.S. exchanges was 9.33 billion shares, compared with the 12.92 billion average over the last 20 trading days.
What drove markets
Investors started the week in a downbeat mood as a fresh flare-up of COVID-19 concerns in China added to the angst about prospects for the global economy.
Beijing imposed stringent restrictions across a number of cities over the weekend in an effort to tackle the emergence of the highly contagious BA.5 omicron sub-variant. China makes up more than a quarter of global manufacturing and any shutdown can hobble the world-wide supply chain, potentially causing further price spikes. The Shanghai Composite finished down by 1.3% on Monday.
Monday’s drop in U.S. equities came after all three major indexes had rebounded last week, with traders reasoning that fears about inflation and slowing growth were already factored in. A better-than-expected U.S. labor report on Friday, which showed a net 372,000 jobs added in June, also supported sentiment.
Wednesday brings the U.S. consumer-price index report for June and forecasters are expecting the headline year-over-year inflation rate to come in at 8.8%, up from 8.6% in May. An upside surprise of around 9% would “surely” put a 100 basis point rate hike on the table for Fed policy makers, “even if it doesn’t ultimately come to fruition.
Meanwhile, the research arm of BlackRock Inc., the world’s largest asset manager, dismissed prospects for a perfect economic outcome in the U.S. as more than two decades of relative stability ends and central banks world-wide grapple with higher inflation and lower growth.
In a phone call with reporters on Monday, Jean Boivin, head of the BlackRock Investment Institute, said that “there’s no Goldilocks scenario ahead of us,” and that “the Great Moderation is over,” meaning investors will need to be more nimble and dynamic with their allocation choices.
The investment institute and others at BlackRock recommend bracing for volatility by being underweight on developed-market equities and overweight on global credit, as well as allocating toward short-term inflation-linked bonds.
The U.S. second-quarter earnings season kicks into gear on Thursday, with JPMorgan Chase & Co. JPM leading the way for the banking sector. Investors will be eager to see just how much rising prices have impacted corporate profitability.
The S&P 500 Banking index slid 1.0%.
Analysts expect steep plunges of year-on-year profits as the companies grow their loan loss reserves, fueling fears of impending recession.
Amid a pervasive confluence of economic challenges, investors are waiting to see if profits are holding up or if companies will cut forecasts. One reason for caution is the dichotomy between two major Wall Street forces. Analysts are betting Corporate America is resilient enough to pass on higher costs to consumers at a time when many strategists aren’t really convinced that’s the case.
The stock market has NOT already priced in any possible upcoming decline in earnings estimates from this year (or next),” wrote Matt Maley, chief market strategist at Miller Tabak.
“Even if earnings estimates stay stable and especially if they decline, the stock market is going to have to fall further before we see an important bottom.”
Maley noted that stocks are trading at valuation levels that are seen as highs -- not lows. The current price-to-sales metric, for instance, is at the same level of market tops in 2020, 2018 and at the tech bubble in 2000, he added.
Price pressures, a wave of monetary tightening and a slowing global economy continue to keep investors on the sidelines even after an $18 trillion first-half wipeout in global equities.
A team of strategists led by Jim Reid at Deutsche Bank said that “this is a very important season (aren’t they all) as the collapse in equities so far in 2022 is largely due to margin compression [costs rise for companies that can’t pass onto consumers] and not really earnings weakness.”
“We’re in a bear market for stocks, and in a bear market surprises happen to the downside and not the upside,” said Adam Sarhan, founder and CEO at 50 Park Investments. “The trend is still down until we see higher highs and higher lows.”
As of last Friday, companies in the S&P 500 index were expected to report year-over-year earnings growth of 5.7% for the second quarter, according to data from Refinitiv, which would be the slowest since the fourth quarter of 2020 during the pandemic. The expectations are skewed, however, by expectations for year-over-year growth of 239.1% in the quarter for the energy sector. Excluding energy, earnings are expected to contract by 3%, the data show. Full-year earnings are expected to see a rise of 9.4% but 3.8% excluding energy.
Steep Fed hikes and recession fears have lifted the greenback to the highest levels since March 2020. The dollar surge will be a “massive headwind” for profits at many large US firms and another reason to expect a dimming earnings outlook, wrote Michael Wilson, chief US equity strategist at Morgan Stanley.
Billionaire investor Leon Cooperman said that a stronger dollar is indeed “negative for corporate profits.” In fact, several firms like giants Microsoft Corp., Costco Wholesale Corp. and Salesforce Inc. have also bemoaned the impacts of the US currency’s meteoric ascent.
For Wilson, the S&P 500’s bear market will continue, and he sees fair value at 3,400-3,500 in case of a soft landing and 3,000 in a recession -- a 23% downside from Friday’s close.
Markets are moving at lightening speed to discount a rollover in inflation rates, a reversal of Fed tightening and an outright recession. A stagflationary stall is as probable as an outright recession.
Meantime, Citigroup Inc. strategists pointed out that there’s a strong correlation between the Fed’s rate trajectory and earnings growth. They say it’s been common for profits to rise as the Fed tightens its policy and to contract as the central bank switches to easing in response to economic weakness.
That means corporate earnings should remain resilient to surging inflation and slowing growth, paving the way for battered US stocks to rally in the remainder of 2022, they added. The strategists expect the S&P 500 to finish this year at 4,200 -- about 7.7% higher from Friday.
As big banks kick off the earnings season this week, traders will be looking for clues about the health of the consumer and spending trends as well as lending to businesses and corporate confidence. Real-estate valuations and lending may also be key for market direction, along with thoughts on the state of capital markets.
Results from the FAANG cohort of megacaps like Facebook owner Meta Platforms Inc. and Google’s parent Alphabet Inc. won’t come out until later this month. But traders are getting ready for heightened volatility as profit cuts by industry analysts have been lagging, leaving room for big surprises and dramatic post-earnings moves.
Risk-off sentiment exacerbated by Macau's first casino shutdown in over two years to curb the spread of COVID-19
We know inflation is being driven by supply constraints, and China is an important factor. And (the Macau shutdown) threw a cold blanket on the market this morning.
It’s a nervous market. It’s all about the kick-off to earnings season and what inflation (data) tells us.
Later in the week a raft of economic data - including consumer prices, retail sales and factory output - should provide a glimpse of the extent to which inflation has peaked and the economy has cooled down as the Federal Reserve moves closer to next week's policy meeting, which is expected to culminate in the second straight 75 basis point interest rate hike.
Elsewhere, Bitcoin fell again -- and Wall Street expects the cryptocurrency’s selloff to get a whole lot worse. The token is more likely to tumble to $10,000, cutting its value roughly in half, than it is to rally back to $30,000, according to 60% of the 950 investors who responded to the latest MLIV Pulse survey. The tally also showed that 40% saw it going the other way.
Crude declined amid a renewed increase in China’s virus cases, while a Russian court allowed a crucial export route for Kazakh oil to keep operating -- easing some supply concerns. Chicago corn futures jumped the most in almost a year as US forecasts point to a heat wave during the crop’s key development period.
Companies in focus
• Twitter Inc. shares finished down by 11% after Elon Musk late Friday said he was withdrawing his bid for the social-media platform. The company said it would try to enforce the buyout, valued at more than $40 billion.
• Shares of casino operators with operations in Macau were under pressure Monday after Macau city officials said casinos there would be shut down for a week to fight a COVID-19 surge. Shares of Wynn Resorts Ltd. finished down by 6.5%, Las Vegas Sands Corp. ended 6.3% lower, and Melco Resorts & Entertainment Ltd. shed 9.6%.
• A report released on Sunday said Uber Technologies Inc. lobbied political leaders to relax labor and taxi laws, used a “kill switch” to thwart regulators and law enforcement, channeled money through Bermuda and other tax havens, and considered portraying violence against its drivers as a way to gain public sympathy as the company aggressively pushed into global markets. In a statement, Uber acknowledged “mistakes” in the past and said CEO Dara Khosrowshahi, hired in 2017, had been “tasked with transforming every aspect of how Uber operates.” Uber shares finished 5.2% lower.
• Moderna Inc. said Monday that a bivalent COVID-19 booster that equally protects against BA.1 and the original strain of the virus produced a better antibody response against the BA.4 and BA.5 subvariants in people who were fully vaccinated and boosted than its currently authorized COVID-19 booster. Moderna shares nonetheless ended lower by 0.6%.
The Hang Seng in Hong Kong ended down by 2.9% after China imposed big fines on Tencent and Alibaba for not complying with disclosure rules. Japan’s Nikkei 225 bucked the regional trend, finishing 1.1% higher after the country’s ruling coalition expanded its majority in upper house elections.
China imposed fines on several companies, including tech giants Alibaba and Tencent, for not complying with anti-monopoly rules on disclosure of transactions, according to Reuters.
European stocks closed lower on Monday as investors prepare for more key inflation data out of the U.S. this week.
Investors in the U.K. will be watching developments surrounding the political uncertainty in the country after Prime Minister Boris Johnson announced he would be resigning as Conservative Party leader.
Johnson said he would stay on in the post while a successor was found. Eleven Conservatives lawmakers have announced their leadership bids over the weekend.
Europe is bracing for an extended shutdown of Russian gas supplies as maintenance work begins on the Nord Stream 1 pipeline that brings gas to Germany via the Baltic Sea.
Europe fears the suspension of deliveries could be extended beyond the 10-day timeline, derailing the region’s winter supply preparations and exacerbating a gas crisis that has prompted skyrocketing energy bills for households and emergency measures from policymakers.
The EU, which receives roughly 40% of its gas via Russian pipelines, is trying to rapidly reduce its reliance on Russian hydrocarbons in response to President Vladimir Putin’s monthslong onslaught in Ukraine.
What to watch this week:
# Earnings due from JPMorgan, Morgan Stanley, Citigroup, Wells Fargo
# BOE Governor Andrew Bailey discusses the economic landscape, Tuesday
# Amazon.com Inc. kicks off its Prime Day event, Tuesday
# South Korea, New Zealand rate decisions, Wednesday
# US CPI data, Wednesday
# Federal Reserve Beige Book, Wednesday
# US PPI, jobless claims, Thursday China GDP, Friday
# US business inventories, industrial production, University of Michigan consumer sentiment, Empire manufacturing, retail sales, Friday
# G-20 finance ministers, central bankers meet in Bali, from Friday
# Atlanta Fed President Raphael Bostic speaks, Friday
Currencies
# The Bloomberg Dollar Spot Index rose 0.9%
# The euro fell 1.2% to $1.0066
# The British pound fell 1.1% to $1.1904
# The Japanese yen fell 0.9% to 137.33 per dollar
Bonds
# The yield on 10-year Treasuries declined nine basis points to 2.99%
# Germany’s 10-year yield declined 10 basis points to 1.25%
# Britain’s 10-year yield declined six basis points to 2.18%
*Commodities *
# West Texas Intermediate crude fell 0.7% to $104.08 a barrel
# Gold futures fell 0.5% to $1,732.80 an ounce
INR Settlement in International Trade
The RBI has announced its second major step today to strengthen the INR.
The first was on the FCNR(B), NRE, OFCB and FPI investments in corporate debt on 6 July 2022.
Todays step is bigger than the one on the FCNR liberalisation of last week as the impact will be bigger, longer lasting and the ripples of the impact of this move will be felt wider across the economy.
Gist - The RBI has made it obligatory for AD (authorised dealers - primarily banks) to facilitate international trade in INR as the invoicing currency. Which is to say Indian imports & exports can be settled in INR.
The regulation will come into immediate effect.
The AD banks will open Vostro accounts of it's correspondent bank (representing the trade counter-party) in India. The money held in such Vostro will be denominated in INR.
Impact - It frees India from the forex market fluctuations to some degree. For example if the trade deal was denominated
in US$, the final remitted amount could be different from the amount anticipated at the time of signing the deal due to
currency volatility in the interim period. This is a positive.
Advance Payments - Indian exporters may receive export advance payments provided all previous fulfilled export orders
have been fully paid for. All denominated in INR.
EXIM Procedure - documentation required so far in export / import trade like letters of credit (LC) will continue. Due process
under Uniform Customs & Practices for Documentary Credits (UCPDC) will apply as usual.
Surplus Amounts - amounts lying in Vostro accounts can be deployed in Indian projects & investments, government securities, T-bills, EXIM advance flow management.
Compliance - the regulation will be in compliance with the Foreign Exchange Management Act (FEMA) of 1999. Due compliance will be required for the FATF (Financial Action Task Force).
My Take - this is a positive development which will take time to accrue benefits to the economy.
Opening Vostro accounts of correspondent banks will take time. There will still be trades & deals in hard forex as and when situations demand.
The percentage of marketshare of the INR in global forex markets is set to rise over time. Since the Rupee is not fully convertible, currently INR trade is extremely light compared to global currencies.
Also, substantial turnover in the INR is done in the offshore NDF (non deliverable forward) market. This regulation will attract INR trading turnover within India.
Being a major importer nation, India can demand atleast some of its international trade be transacted in INR. This will boost the INRs value over time.
Overall, it is a positive move that will yield results over the long term.
• India Unveils Rupee Settlement Plan to Smoothen Russia Trade
• India May Surpass China as World’s Most-Populous Nation in 2023
• US to Urge India, Japan to Back Plan for Cap on Russia Oil Price
• Adani’s 5G Play Reminds Jefferies of Ambani’s 2010 Telecom Entry
• India Bank Privatization Rules Sent to Law Ministry: Official
• Indian Company Private Bond Sales Fall 71% W/w to INR61.1B
• Billionaires Are Said to Vie for Metro’s Indian Wholesale Unit
o Amazon also considering entering the race with an offer
• Byju’s Struggles to Close $800 Million Funding as Investors Balk
o Byju’s says founder has injected $400m into his firm
• India Cumulative Monsoon Rainfall 7% Above Normal as of July 11
• Emerging Market ETFs Rise for 3rd Week in $1.21 Bln Streak
• Global Funds Sell Net 1.71B Rupees of India Stocks Monday: NSE
o Domestic funds sell net 2.97 billion rupees of shares
• Foreign Investors Buy Net INR1.19B of Indian Equities on July 8
• Foreigners Buy Net INR17B of India Equity Derivatives on Monday
• 5:30pm: India June Consumer Price Inflation y/y; est. 7.10%, prior 7.04%
• 5:30pm: India May Industrial Production y/y; est. 20.7%, prior 7.1%
• IOC, BPCL, HPCL May Report 107B Rupees Loss in 1Q: PTI
• Kubota to Invest 300b Yen in Plants in US, India, Nikkei Says
• NCLT to resume hearing applications related to debt resolution process of Reliance Naval
• Delhi court to hear hear Amazon, Future Retail dispute case and also Amazon money laundering probe case
• 16,179.00
• INR down 0.2% to 79.4375 per US$
• Yield on 6.54% bonds maturing Jan. 17, 2032 up 1bp to 7.43%
• Rupees Slides to New Record on Foreign Outflows: Inside India
• 5Paisa Capital (5PAISA): 1Q group profit 73.88m rupees vs. 71.96m year ago
• Bajaj Hindusthan (BJH): SEBI levied INR1m penalty; co. to appeal at Securities Tribunal
• Bank of Baroda (BOB): Raises 1-year MCLR lending rates 15bps
• Ceat (CEAT): To consider bonds sale plan at July 20 board meeting
• Eureka Forbes (EUREKAFO): Names Pratik Pota as MD and CEO for 5 years
• HFCL (HMFC): Gets INR592.2m orders from private telecom operator
• Mangalore Refinery (MRPL): Board to meet on July 15, to discuss shares issue plan to meet minimum public holding rule
• Satin Creditcare (SATIN): Plans to raise up to INR50b via bonds sale
STOCKS TO WATCH:
AHLUWALI CONTRACTS, 5PAISA, SATIN CREDITCARE, SPANDANA SPHOORTY, HFCL, STAR HEALTH, SECUREKLOUD, CEAT, SURYODAY SMALL, TECHNO ELECTRIC
Ahluwalia Contracts (India): Co Gets Award Of New Project Worth 1.50b Rupees || Total Order Inflow During Fy 2022-23 Stands At 8.63b Rupees
5paisa Capital: Q1 Cons Net Profit 73.9m Rupees Vs 72m (YoY) | 44m (QoQ) || Q1 Revenue 840.3m Rupees Vs 601m (YoY); 882.6m (QoQ)
Satin Creditcare Network: Co Approved Raising Of Funds Via Non-Convertible Debentures Upto 50b Rupees
Spandana Sphoorty Financial: Co Approved Issuance Of 40b Rupees Worth Non-Convertible Debentures
HFCL: Co Got Purchase Order Worth 592.2m Rupees
Star Health And Allied Insurance: Co Partners With CSC To Make Health Insurance Accessible In Rural India
Securekloud Technologies: Co Unit Healthcare Triangle Entered Deal With Single Institutional Investor For Sale Of Shares In Private Placement || Healthcare Triangle Announces $6.5m Private Placement
CEAT: Board Meeting On July 20 To Consider Q1 Results || Co To Consider Raising Of Funds Via Non-Convertible Debentures On Private Placement Basis
Suryoday Small Finance Bank: Q1 Provisional Gross Advances 51.36b Rupees, Up 28% (YoY) || Q1 Provisional Total Deposits 40.20b Rupees, Up 21% (YoY)
Techno Electric & Engineering: Co To Buy Back Shares Worth Up To 1.3b Rupees || Buyback Price 325 Rupees Per Share Via Open Market Route
Bulk Deal & Insider Trade Update
Bulk Deals
*Bls Intl Servs Ltd : Nomura Singapore Limited Buy 1250000 Shares @ Rs. 214
*Salasar Techno Engg. Ltd. : Ag Dynamic Funds Limited Buy 2000000 Shares @ Rs. 26.2
*Hardwyn India Limited : Ag Dynamic Funds Limited Buy 100000 Shares @ Rs. 245
*Shree Ram Proteins Ltd. : India Multi Bagger Fund I Buy 150000 Shares @ Rs. 108.35
Ashika
Insider Trade
Acquisition
*Raviprakasha Srinivasa Srivatsan Director Acquisition 32000 shares of Kirloskar Ferrous Industries Ltd.
Pledge
*Zuari Industries Limitedformerly Zuari Global Limited Promoter Pledge 2150000 shares of Zuari Agro Chemicals Ltd. on 08-Jul-22
*Zuari Industries Limited formerly Zuari Global Limited Promoter Pledge 1200000 shares of Chambal Fertilisers & Chemicals Ltd. on 07-Jul-22
*Anuya J. Mhaiskar Promoter Group Pledge 1000000 shares of Mep Infrastructure Developers Ltd on 07-Jul-22
Revoke
*Anuya J. Mhaiskar Promoter Group Revoke 1000000 shares of Mep Infrastructure Developers Ltd on 06-Jul-22
Ashika
Dividend Update
*A Infrastructure Ltd. Bonus issue 1:1 Ex Date 12-Jul-2022
*Avadh Sugar & Energy Ltd. Dividend Rs. 10 Ex Date 12-Jul-2022
*REC Ltd. Final Dividend Rs. 4.8 Ex Date 12-Jul-2022
*Seshasayee Paper & Boards Ltd. Final Dividend Rs. 2.5 Ex Date 12-Jul-2022
*Steel Exchange India Ltd. Stock Split From Rs.10/ to Rs.1/ Ex Date 12-Jul-2022
Result Today
HCL Technologies Ltd.
National Standard (India) Ltd.
Sterling and Wilson Renewable Energy Ltd.
Delta Corp Ltd.
Anand Rathi Wealth Ltd.
Plastiblends India Ltd.
Shree Ganesh Remedies Ltd.
Goa Carbon Ltd.
Virinchi Ltd.
Artson Engineering Ltd.
Swiss Military Consumer Goods Ltd.
Stocks in News
Ahluwalia Contracts: The company has secured a new order for construction work of Amity Campus Bengaluru, worth to Rs 150 crore (Positive)
HFCL: Company wins purchase orders worth Rs 59.22 cr from private telecom operator. (Positive)
Telecom equipment stocks: Telecom department amends Telecom license agreement, effectively bars Chinese telecom equipment makers. (Positive)
DBL: CCI approves acquisition of 100% of the equity in ten road infrastructure projects by Shrem InvIT from Dilip Buildcon Limited (Positive)
Suryoday Small Fin Bank: Deposits stand at Rs 4,020 cr as on June 30. (Positive)
Eureka Forbes: Company names Pratik Pota as MD & CEO for 5 years. (Positive)
MRPL: Company board to meet on July 15 to discuss share issues. (Positive)
Sunteck: Pre-Sales of Rs 333 crores in Q1 FY23, up 89% on YoY basis. (Positive)
Star Health and CSC partner to make health insurance accessible in rural India (Positive)
HSCL: Board meet on July 14 to consider fund raise via equity. (Positive)
OMCs: Indian fuel consumption increased 6% to 18,671 (‘000 MT) Vs 17,674 (‘000 MT) in June 2019 (Positive)
5paisa Capital: The company reported a 2.6 percent year-on-year growth in consolidated profit at Rs 7.39 crore (Neutral)
Satin Creditcare: The board approved raising of funds by way of issuance of NCDs upto Rs 5,000 crore (Neutral)
Techno Electric: The board approved the proposal to buy back of shares up to Rs 130 crore at a price up to Rs 325 per share. (Neutral)
Borosil: Board meet on July 14 to consider fund raise via equity or convertible bonds (Neutral)
Airtel: Converted earlier issued FCCB worth $200,000 into equity shares. Conversion rate at Rs 523. (Neutral)
Spandana Sphoorty Q4: Net Profit down 42% at Rs 28.4 crore Vs Rs 49 crore (YoY)
PM to launch SGX Nifty trade at GIFTCity
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