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

Asian markets were set to climb Thursday after U.S. inflation slid to a two-year low, easing pressure on global markets from rising interest rates in the world’s biggest economy.

Futures for benchmarks in Hong Kong and Australia pointed to strong opening gains while contracts for Japan suggested a smaller move upward, in part reflecting the drag from the recent rebound of the yen.

The U.S. consumer price index rose 3% in June from a year ago. The core measure, which economists view as the better indicator of underlying inflation, advanced just 4.8%, the lowest since 2021. The inflation data propelled the S&P 500 to finish at its highest since April 2022. The tech-heavy Nasdaq 100 outperformed with a jump of 1.2%.

Meanwhile, Brent crude rose above $80 a barrel and West Texas Intermediate inched closer too to $76-mark. The yield on the 10-year U.S. bond was trading at 3.86%, whereas Bitcoin was above 30,000-level.

At 05:24 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was unchanged at 19,591.5.

Indian stock benchmark indices snapped two days of gains after shining between gains and losses through Wednesday. While the PSU banking sector was the top gainer, I.T. and metals were under pressure. Ahead of close, the Nifty Midcap 100 jumped 0.57% to a fresh record high of 36,458.65 points. The local currency strengthened 12 paise to close at 82.25 against the U.S. dollar on Wednesday.

The S&P BSE Sensex closed 224 points, or 0.34%, lower at 65,393.90, while the NSE Nifty 50 ended 55 points, or 0.28%, lower at 19,384.30.

• Bank Nifty's weekly expiry day will shift to Wednesday, starting Sept. 6, 2023.

• Thursday will continue to be the expiry day for monthly and quarterly contracts.

Source: Exchange filing

BQ Prime explores India's limitless investment landscape and more at the special 'The India Opportunity' conclave in Mumbai on July 13.

Catch the panel discussions live on BQ Prime and NDTV.

Or follow us on Twitter, Facebook, LinkedIn, and YouTube:
https://www.youtube.com/live/nhUoffG4Xi4

Here's what's in store:

India—The Road Ahead

Saurabh Mukherjea, Sunil Singhania & Nilesh Shah

Time: 5 p.m.

Capitalising On Capex Cycle

Sanjeev Sharma & Madhusudan Kela

Time: 5:50 p.m.

Investing In Mega Trends

S Naren & Sailesh Bhan

Time: 6:50 p.m.

Mental Model For Taking Large Bets

Raamdeo Agrawal & Manish Chokhani

Time: 7:35 p.m.

• Oil Stocks: To be in focus after Brent crude futures hit $80.05 a barrel amid signs of tightening supplies and slower-than-expected U.S. inflation.

• Titan Company, Kalyan Jewellers India, and Jewellery Stocks: The Central Government has restricted the import of unstudded gold and certain gold articles. Importers would require permission from the government to import these gold products. Restrictions will not apply to imports under the India-UAE free trade agreement.

• JSW Steel: The company will replace HDFC on the S&P BSE Sensex from July 13. On July 5, the stock exchange made the announcement. HDFC, which merged with HDFC Bank earlier this month, will delist from the benchmark index today.

• Patanjali Foods: The company’s promoter will sell a 7% stake over two trading days. Patanjali Ayurved will sell 2.53 crore shares, or a 7% stake, in Patanjali Foods on July 13 and 14. The floor price of the offer shall be Rs 1000 apiece. The promoter will have the option to additionally sell up to 2% in the event of oversubscription.

• SpiceJet: Promoter to invest Rs 500 crore to strengthen the airline's financial position. Ajay Singh, also the CMD of SpiceJet, will infuse capital through equity and or convertible securities on a preferential basis. Funds to be considered equity shares of promoters in the government's ECLG scheme.

• Dr. Reddy’s Laboratories: The drugmaker’s biologics license application for its proposed biosimilar rituximab has been accepted by the U.S. Food and Drug Administration, the European Medicines Agency, and the U.K. Medicines and Healthcare Products Regulatory Agency. The biosimilar will be used in the treatment of rheumatoid arthritis, non-Hodgkin's lymphoma, chronic lymphocytic leukaemia, pemphigus vulgaris, granulomatosis with polyangiitis, and microscopic polyangiitis.

• Aurobindo Pharma: The company’s unit, APL Healthcare, has received final approval from the U.S. Food and Drug Administration to manufacture and sell Sevelamer Hydrochloride Tablets in doses of 400 mg and 800 mg, equivalent to Renagel Tablets of Genzyme Corporation. The drug has an estimated market size of around $37 million for the twelve months ending May 2023, according to IQVIA. Sevelamer Hydrochloride Tablets are used to treat chronic kidney disease.

• Hindalco Industries: The company approved a proposal to sell its land at Kalwa in Maharashtra for Rs 595 crore and 1.5% of the sales revenue to Birla Estates, a unit of Century Textiles and Industries.

• Brigade Enterprises: The company named Pradyumna Krishna Kumar as Executive Director of the company for five years, with effect from July 12.

• Lupin: The U.S. FDA issued Form 483 with two observations after inspecting the company's Nagpur Oral Solid Dosage Facility from July 3 to July 11, 2023.

• Texmaco Rail & Engineering: The company will meet on July 17 to consider a proposal for raising funds by issuing equity shares or convertible securities either by preferential issue, rights issue, QIP, or a combination of any of these.

• Dreamfolk Services: The company and Plaza Premium Group inked a contract to expand the global lounge network and enhance the travel experience for Indian passengers.

• Subros: Company sees incremental business opportunities in vehicle AC component manufacturing with the amendment in Central Motor Vehicles Rules, 1989. Government announced that it will mandate AC in the cabins of N2 and N3 category vehicles, to be applicable from Jan. 1, 2025 onwards.

• Sealmatic India: Becomes the first to receive accreditation with the ISO 19443 for nuclear applications in India and globally. ISO 19443 is a nuclear-specific quality management company standard designed to improve safety and quality throughout the nuclear supply chain.

TCS Q1 FY24 (Consolidated, QoQ)

• Revenue up 0.37% at Rs 59,381 crore vs. 59,162 (Bloomberg estimate: Rs 59,862 crore).

• Net Profit down 2.79% at Rs 11,074 crore vs. Rs 11,392 crore (Bloomberg estimate: Rs 10,982 crore).

• EBIT at Rs 13,755 crore vs. Rs 14,488 crore (Bloomberg estimate: Rs 14,048 crore)

• Margin stood at 23.16% vs. 24.48%. (Bloomberg estimate: 23.7%)

• TCS has declared an interim dividend of Rs 9 per share.

• Revenue rose 7% year-on-year in constant currency terms.

HCL Tech Q1 FY24 (Consolidated, QoQ)

• Revenue down 1.2% at Rs 26,296 crore vs. Rs 26,606 crore (Bloomberg estimate: Rs 26,884 crore).

• EBIT fell 8.2% to Rs 4,438 crore vs. Rs 4836 crore (Bloomberg estimate: Rs 5,934 crore).

• EBIT margin: 16.9% vs. 18.2% (Bloomberg estimate: 22.1%)

• Net profit fell 11.3% to Rs 3,531 crore vs. Rs 3981 crore (Bloomberg estimate: Rs 3,830 crore).

Wipro, Angel One, Federal Bank, Sterling & Wilson Renewable Energy, Tata Metaliks, Avantel, and Bhansali Engineering Polymers.

• Utkarsh Small Finance Bank Ltd.’s Rs 500-crore IPO was subscribed 4.73 times on day 1. Retail investors portion was subscribed 13.75 times, while the non-institutional portion was subscribed 8.25 times. The portion reserved for employees was subscribed to 2.73 times, while institutional investors lapped up 4%.

• Emami: Promoter Diwakar Finvest revoked a pledge of 2.5 lakh shares on July 7 and four lakh shares on July 10.

• Primo Chemicals: Societe Generale bought 4.79 lakh shares (2%) at Rs 60.10 apiece.

• BCL Industries: Waybroad Trading sold 1.71 lakh shares (0.7%) at Rs 468 apiece.

• Delta Corp: Equirus Wealth sold 25 lakh shares (0.9%) at Rs 185.13 apiece, and Kalpraj Damji Dharamshi sold 19 lakh shares (0.7%) at Rs 187.61.

• Central Bank Of India: To meet investors and analysts on July 17.

• Centum Electronics: To meet investors and analysts on July 14.

• Zensar Technologies: To meet investors and analysts on July 20.

• MAS Financial Services: To meet investors and analysts on July 13.

• Tanla Platforms: To meet investors and analysts on July 21.

• Kings Infra Ventures: To meet investors and analysts on July 17.

• Tata Communications: To meet investors and analysts on July 20.

• HDFC Bank: To meet investors and analysts on July 17.

• Aurum PropTech: To meet investors and analysts on July 19.

• Zim Laboratories: To meet investors and analysts on July 13.

• IDBI Bank  

• Monotype India   

• Oil Country Tubular

• Sterling and Wilson Renewable Energy

• Yasho Industries 

• Price Band Revised From 10% To 5%: Mazagon Dock Shipbuilders

• Price Band Revised From 20% To 10%: Olectra Greentech

• Ex-Date Dividend: Titan Company, ICICI Prudential Life Insurance Company, Magadh Sugar & Energy, Jyoti Structures, Wendt (India), Oriental Hotels, Sanmit Infra

• Ex-Date Buy Back: Amrutanjan Health Care

• Ex-Date Amalgamation: Housing Development Finance Corporation

• Ex-Date Annual General Meeting: Titan Company, Nureca, Wendt (India), Oriental Hotels, Educomp Solutions

• Record-Date Dividend: Magadh Sugar & Energy

• Record-Date Buy Back: Amrutanjan Health Care

• Record-Date Amalgamation: Housing Development Finance Corporation

• Move Out Of Short-Term ASM Framework: Action Construction Equipment

• Move Out Of Short-Term ASM Framework: Priti International

• Nifty July futures ended at 19,462, a discount of 38.85 points.

• Nifty July futures fell 0.03%, with 62 shares in open interest.

• Nifty Bank July futures ended at 44,805.90, a discount of 65.55 points.

• Nifty Bank July futures fell 7.80%, with 13,912 shares in open interest.

• Securities in the ban period: Hindustan Copper, India Cements, Manappuram Finance, Indiabulls Housing Finance, Punjab National Bank, Zee Entertainment Enterprise

The Indian rupee closed 0.14% lower at 82.25 against the U.S. dollar on Wednesday.