Asian equities rose on Thursday amid fall in oil prices below $100 per barrel even as the minutes from the latest FOMC meeting highlighted the possibility of a 'more restrictive' monetary policy.
Shares gained in Japan, South Korea and Australia. The U.S. futures were volatile after Wall Street logged gains on Wednesday.
At 6:45 am, the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- rose 0.28% to 16,028.
Elsewhere, the Nymex crude hovered around $98.20 per dollar.
Stocks To Watch
Titan: The first quarter of FY23 was a near normal first quarter after a gap of 2 years. Sales grew 205% year-on-year on a low base and clocked 3-year CAGR of 20.5% over Q1FY20, the only non-disrupted first quarter in the last 3 years.
NTPC/Gujarat Alkalies and Chemicals: The companies signed a Memorandum of Understanding to collaborate in the field of Renewable Energy, Green Methanol & Green Ammonia and mutually explore the opportunities for the supply of 100 MW power. This would be the first commercial scale green Ammonia and Green Methanol project in the country.
Sobha: The company's sales volume rose 51.7% yoy to 13.6 lakh sq. ft. Total sales value rose 67.7% yoy to Rs 1,145 crore. Average price realization increased to Rs 8,431 in quarter ended June as compared to Rs 7,626 a year ago.
Equitas Small Finance Bank: The bank's advances grew 22% YoY to 21,699 crore in the quarter from April to June. Deposits grew 19% to 20,386 crore in Q1 of FY23. CASA ratio stood at 51.74% on June 30.
Raymond: The company has signed a joint development agreement for a premium residential project in Bandra, Mumbai. Its revenue potential is estimated at Rs 2,000 crore.
City Union Bank: The bank will raise Rs 500 crore through the QIP route
PVR: To open 4-screen multiplex at Odeon Mall, Ghatkopar, Mumbai.
Titagarh Wagons: HDFC Mutual Fund cuts stake to 7.02% from 9.16% in the company.
Pledged Share Details
Elecon Engineering Company: Promoter Group Emtici Engineering revoked a pledge of 25 lakh shares on July 4.
Emami: Promoter Group Sneha Enclave revoked a pledge of 2 lakh shares on July 4.
Who's Meeting Whom
United Spirits: To meet investors and analysts on July 27.
AGM today:
Tata Power
Balkrishna Industries
Trading Tweaks
Ex-Date Annual General Meeting: Nilkamal, Vishnu Chemicals, L&T Technology Services, Mayur Uniquoters, Bank of India, Indian Overseas Bank
Ex-Date Dividend: Nilkamal, Vishnu Chemicals, L&T Technology Services, Mayur Uniquoters, Bank of India, DCM Shriram, Oberoi Realty, Minda Industries, Navin Fluorine International, JM Financial, Axis Bank, ZF Commercial Vehicle Control System India, GlaxoSmithKline Pharmaceuticals
Ex-Date Final Dividend: Astrazeneca Pharma India, Crompton Greaves Consumer Electricals, Greenlam Industries, Navin Fluorine International, Rossari Biotech
Ex-Date Special Dividend: GlaxoSmithKline Pharmaceuticals
Ex-Date Bonus: Minda Industries
Money Market Update
The rupee ended at Rs 79.30 against the U.S. Dollar on Wednesday as compared to Tuesday's closing of 79.37
F&O Cues
Nifty July futures ended at 16,018.45, a premium of 28.65 points.
Nifty July futures rose 1.07% and 2,648 shares in Open Interest.
Nifty Bank July futures ended at 34,431.70, a premium of 107.45 points.
Nifty Bank July futures rose 17.11%, 15,193 shares in Open Interest.
Research Reports
Bulls & Bears - Pain Continues; Steepest Decline Since March 2020: Motilal Oswal
RBI Report Shows Improvement In Performance Of Indian Banks: CareEdge
CreditAccess Grameen - Business Resiliency, Agility Reflect In FY22 Performance: ICICI Securities
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