Stock Market Today: All You Need To Know Going Into Trade On July 13

Asian stocks are volatile on Wednesday ahead of US inflation data for June.

MSCI Inc.'s regional share gauge made modest gains, helped by Japan. US futures were volatile after Wall Street incurred losses, dragged by tech and energy.

The 10-year US Treasury yield witnessed an inversion -- dropped as much as 12.4 basis points below the two-year rate, a magnitude last seen in 2007. Such inversions are one of the most widely watched signals of recession risk.

At 7:00 am, the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- rose 0.28% at 16,104.50.

Oil fell below $100 a barrel while the dollar is at a 28-month high. The euro remains in sight of parity with the greenback for the first time in two decades. Elsewhere, bitcoin slipped further below $20,000.

Global Cues

Earnings Post Market Hours

HCL Technologies Q1 FY23 (Consolidated, QoQ)

• Revenue up 3.84% at Rs 23,464 crore

• EBIT down 1.89% at Rs 3,992 crore

• EBIT margin at 17% vs 18%

• Net profit down 8.63% at Rs 3,283 crore

Sterling & Wilson Renewable Energy Q1 FY23 (Consolidated, YoY)

• Revenue up 1% at Rs 1,207 crore

• EBITDA loss up 231% at Rs 343.87 crore

• EBITDA margin at -28.5% vs 8.7%

• Net loss at Rs 353.91 crore vs Rs 76.12 crore

Delta Corp Q1 FY23 (Consolidated, QoQ)

• Revenue up 15% at Rs 250.27 crore

• EBITDA up 27% at Rs 87.50 crore

• EBITDA margin at 35% vs 32%

• Net profit up 19% at Rs 57.13 crore

Anand Rathi Wealth Services Q1 FY23 (Consolidated, QoQ)

• Revenue up 17% at Rs 131.6 crore

• EBITDA up 20% at Rs 55.69 crore

• EBITDA margin at 42.32% vs 41.13%

• Net profit up 15% at Rs 39.7 crore

Stocks To Watch

• Deepak Nitrite: The company's Nandesari plant, which had caught fire last month, has restarted operations--except the Nitrite section of the facility--following approvals from Gujarat authorities.

• Mahanagar Gas: The company has raised CNG prices by Rs 4/kg to Rs 80/kg in Mumbai and of domestic PNG by Rs 3/SCM to Rs 48.50/SCM, Bloomberg reported citing an emailed statement.

• City Union Health: The bank has signed a bancassurance agreement with Bajaj Allianz Life Insurance for distribution of its products through its branch network.

• Care Ratings: The company will consider a proposal for buyback of shares on July 20.

• Shilpa Medicare: The company's newly commissioned facility for manufacture and testing of orodispersible films and transdermal systems situated at Dabaspet, Bengaluru has been issued GMP certificate by UK MHRA.

• Max Ventures & Industries: The company has received no objection letter from BSE and National Stock Exchange of India for its merger with Max Estates.

Earnings Today

• Mindtree

• Tata Metaliks

Analyst Actions

• Maintains 'Equal Weight/In-Line' with the target price unchanged at Rs 1,300, an implied return of 40.12%.

• Revenue beat in 1Q was more than offset by the margin miss and expectations of F23 margin toward the lower end of the band

• Company requires sharp execution to manage margins; believe there could be downside risks

• Sees consensus F23/F24 margins coming down, driving EPS estimate cuts

• Lowers FY23-24F EPS by 7-9%, prefers Infosys

• Maintains 'Neutral' and cuts target price from Rs 1,100 to Rs 1000, still an implied return of 7.78%

• Margin miss, deal wins hit in 1Q FY23.

• Sees HCLT likely missing its margin guidance in FY23F.

• Deal wins healthy; FY23F revenue guidance has lower risks.

• On a MoM basis, the weights of Automobiles, Oil & Gas, Consumer, Healthcare, Telecom, and PSU Banks increased, while the weights of Private Banks, Metals, NBFCs, Cement, Retail, Utilities, Textiles, Insurance, and Chemicals moderated

• Automobiles' weight increased for the third consecutive month to a 42-month high of 7.6%. Ranks third in the allocation of mutual funds – it was in the fourth position a month back.

• Oil & Gas' weight stands at a 18-month high of 7.3% (+20bps MoM and +40bps YoY).

• Metals' weight moderated to a 26-month low of 1.9% (-30bps MoM).

• Four of the top-10 stocks in terms of value increase were from Autos: Maruti Suzuki (Rs 3,210 crore), M&M (Rs 1,730 crore), TVS Motor (Rs 970 crore), and Motherson Sumi Wiring (Rs 630 crore).

Pledge Share Details

• Swan Energy: Promoter Group Dave Impex created a pledge of 90,000 shares on July 11.

Insider Trades

• Kotak Mahindra Bank: Promoter Group Janak Desai Sold 3,000 shares between May 31 and June 1.

Who's Meeting Whom

• Happiest Minds: To meet investors and analysts on July 22.

• HDFC Life Insurance: To meet investors and analysts on July 19.

• Delta Corp: To meet investors and analysts on July 13.

AGMs Today

• Mindtree

• Borosil

Trading Tweaks

• Price Band Revised From 20% To 10%: Himadri Speciality Chemical

• Ex-Date Dividend: Shree Cement, Aditya Birla Sun Life AMC, Shankara Building Products, Orient Bell, VST Industries

• Ex-Date Annual General Meeting: Nureca, Shankara Building Products, Orient Bell

• Record-Date Dividend: REC

• Move Out Of Short-Term ASM Framework: Lloyds Steels Industries

Money Market Update

The rupee ended at Rs 79.60 against the U.S. Dollar on Tuesday as compared to Monday's closing of 79.43

F&O Cues

• Nifty July futures ended at 16,030, a discount of 28.3 points.

• Nifty July futures added 2.27% and 5,385 shares in Open Interest.

• Nifty Bank July futures ended at 35,104, a discount of 28.25 points.

• Nifty Bank July futures shed 9.55%, 9,523 shares in Open Interest.

• Securities added to the ban list: Delta Corp

Research Reports

• Suprajit Engineering - Replicating Indian Success On The Global Platform: Nirmal Bang Initiates Coverage

• Metals Sector Check - Light At The End Of The Tunnel? Removal Of Export Duty On Cards: Motilal Oswal

• Dr. Reddy's Annual Report Analysis- Strong Revenue Growth Driven By Rise In Global Generic Business: KRChoksey

• Strong Fundamentals Outweigh Turbulence In Housing Finance: CareEdge

• Jindal Stainless - Value Unlocking Can Happen Through Prudent Capital Allocation: ICICI Securities