Stocks in Asia rose on Monday after strong U.S. employment report on Friday and post-election rally in Japan. The possibility of more Covid curbs in China could, however, dampen sentiment.
Japan shares climbed 1.5%, as ruling coalition expanded its majority in an upper house election. US and European equity futures fell while crude oil was volatile around $105 per barrel.
At 6:40 am, the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- fell 0.13% to 16,206.50.
Elsewhere, the pound fell as the race to replace Boris Johnson as UK premier heats up.
Earnings Post Market Hours
Tata Consultancy Services Q1 FY23 (Consolidated, QoQ)
Revenue up 4.28% at Rs 52,758 crore Vs Rs 50,591 crore (Bloomberg Estimate: Rs 5 2,473.5 crore)
EBIT fell 3.5% at Rs 12,186 crore Vs Rs 12,628 crore (Bloomberg Estimate: Rs 12,413)
EBIT margin 23.1% Vs 24.96% (Bloomberg Estimate: 24%)
Net profit fell 4.5% at Rs 9,478 crore Vs Rs 9,926 crore (Bloomberg Estimate: Rs 9,908-crore)
Attrition inched up to 19.7% Vs 17.4%
Declared interim dividend of Rs 8 per share of face value of Rs 1 each
MMTC Q4 FY22 (Consolidated, QoQ)
Revenue fell 3% to at Rs 2,255.59 crore Vs Rs 2320.63 crore
EBITDA Rs 512.52 crore Vs negative Rs 19.38 crore
EBITDA margin 22.72% Vs -0.84%
Net profit of Rs 118.38 crore Vs net loss of Rs 73.89 crore
Stocks To Watch
HDFC/HDFC Bank: The company received approval from Pension Fund Regulatory and Development Authority for the scheme of merger with HDFC Bank. The scheme is yet to receive approval from Competition Commission of India, the National Company Law Tribunal and company's shareholders and creditors.
CCL Products: The company has forayed into plant-based meat products in India through the launch of its brand Continental Greenbird.
Dr Reddy's: The company has launched Fesoterodine Fumarate rxtended-release tablets, a therapeutic generic equivalent to Toviaz, in the U.S. market.
Hindustan Aeronautics: The company along with France based Safran will be jointly develop engines for military helicopters. The new joint venture will develop and produce engines in India. The engines will be used in multi-role helicopters and the deck based ones used by the Indian Navy and the coast guard.
Bandhan Bank: The bank's loans and advances rose 20% YoY to Rs 96,649 crore in quarter from April to June. Deposits also grew 20% to Rs 93,057 crore. CASA ratio stood at 43.2% on June 30.
Zydus Lifesciences: The company has launched Sitaglyn and Siglyn (Sitagliptin), for the management of Type 2 diabetes at a 60% low cost than the originator.
Linde India: The company inaugurated its first-ever women operated Packaged Gas Plant in Trichy.
Indian Overseas Bank: The bank raised MCLR by 10 basis points across tenors effective from July 10.
PowerGrid: The company has been declared as the successful bidder under Tariff based competitive bidding to build the project comprises establishment of two 400kV DIC Transmission lines passing through the states of Rajasthan and Madhya Pradesh, a New 400/220kV Pooling Substation at Neemuch (Madhya Pradesh) and 400kV bay extension works.
Federal Bank: The Reserve Bank of India levied Rs 5.72 crore penalty on account of non-compliance with RBI norms on incentives paid to employees.
Bank of India: The Reserve Bank of India levied Rs 70 lakh on account of non-compliance with RBI norms on issuing unique customer codes.
Himadri Speciality Chemical: Promoters of the company (SSC Family and BLC Family) have inter-se entered into a family agreement by virtue of which BLC Family have cease to hold any right in the management and/or control in the company. They have also submitted request/application under Regulation 31A of SEBI listing regulations to reclassify themselves from promoter and promoter group to public category. The FSA has been entered to amicably settle all past issues between SSC family and BLC family.
Earnings To Watch: Spandana Sphoorty Financial.
Bulk Deals
BLS International Services: L7 Hitech Pvt. sold 11.7 lakh (0.57%) shares at 207.74 apiece.
Who's Meeting Whom
Spandana Sphoorty Financial: To meet investors and analysts on July 11.
Hitachi Energy: To meet investors and analysts on July 21.
Nestle India: To meet investors and analysts on July 22.
AGMs today:
Apollo Tyres
L&T Finance Holdings
Motilal Oswal Financial Services
Trading Tweaks
Ex-Date Annual General Meeting: Persistent Systems, Pix Transmissions , Dr. Reddy's Laboratories
Ex-Date Dividend: Persistent Systems, Pix Transmissions, Dr. Reddy's Laboratories
Ex-Date Final Dividend: Kirloskar Pneumatic Company, Persistent Systems, Pix Transmissions, Dr. Reddy's Laboratories
Ex-Date Bonus: GMM Pfaudler
Record-Date Bonus: Torrent Pharmaceuticals
Record-Date Dividend: Jubilant Foodworks
Move Into Short-Term ASM Framework: PC Jeweller, Jayaswal Neco Industries,
Move Out Of Short-Term ASM Framework: Acrysil, Shalimar Paints
Money Market Update
The rupee ended at Rs 79.25 against the U.S. Dollar on Friday as compared to Thursday's closing of 79.17
F&O Cues
Nifty July futures ended at 16,233.35, a premium of 12.75 points.
Nifty July futures shed 5.99% and 13,799 shares in Open Interest.
Nifty Bank July futures ended at 35,195, a premium of 70.95 points.
Nifty Bank July futures shed 3.81%, 3,688 shares in Open Interest.
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