Stocks in Asia traded mixed Friday as trade-tensions resurfaced and U.S. shares closed at a record.
Shares were little changed in Japan and South Korea, and slipped back in Australia. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index's performance in India, fell 0.13 percent to 11,566.50 as of 7 a.m.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.
Here Are The Stocks To Watch Out For In Today's Trade
- CARE Ratings downgraded Cox & King's long-term debt facilities to CARE D. Instruments with this rating are in default or are expected to be in default soon.
- KPR Mill becomes the first company to cancel its buyback plan after Budget 2019 imposed a tax on repurchase of shares. (more details here)
- Himachal Futuristic won Rs 199 crore order from BEL for supply of Optical Fibre Cables.
- Gravita India started commercial production of aluminum cast alloys from its new plant in Tanzania, Africa. The facility has a total capacity of 6,000 MTPA and expects to generate Rs 20 crore in revenue along with gross margin of 15 percent from this plant in fiscal 2020.
- Salzer Electronics completed acquisition of 72.32 percent stake in Kaycee Industries.
- KSK Energy Ventures said NCLT admits insolvency resolution plea filed by Axis Bank for subsidiary Sai Lilagar Power Generation Ltd.
- Videocon will publish fourth quarter and full year fiscal 2019 results by July 20, 2019.
- Unitech will publish fourth quarter and full year fiscal 2019 results by July 12, 2019.
Data To Watch
- 5:30 p.m.: India June Consumer Price inflation YoY; estimate 3.13 percent (prior 3.05 percent)
- 5:30 p.m.: India May Industrial Production YoY; estimate 2.85 percent (prior 3.4 percent)
Nifty Earnings To Watch
- Infosys
- IndusInd Bank
Other Earnings To Watch
- Karnataka Bank
- Hathway Cable & Datacom
- 3i Infotech
- TRF
Earnings Reaction To Watch
Den Networks (Q1FY20, YoY)
- Revenue flat at Rs 313 crore.
- Net profit of Rs 11 crore.
- Ebitda down 11 percent at Rs 42 crore.
- Margin narrows to 13.4 percent from 15 percent.
- Other Income of Rs 51 crore.
Who's Meeting Whom
- Adani Ports & SEZ to meet analysts/ institutional investors on July 12,13 and 22.
Money Market Update
- The rupee on Thursday strengthened marginally to 68.44/$ versus 68.57/$ on Wednesday.
F&O Cues
July Futures
- Nifty futures closed at 11,582, discount of 0.8 points versus 6.6 points.
- Nifty futures open interest down 5.5 percent, sheds 10 lakh shares in open interest.
- Bank Nifty futures closed at 30,717.
- Bank Nifty futures open interest down 3 percent, sheds 53,000 shares in open interest.
Options
- Nifty PCR at 1.24 versus 0.84(across all series).
Nifty Weekly Expiry 18-July
- Max open interest on call side at 11,700 (10.9 lakh shares).
- Max open interest on put side at 11,500 (11.6 lakh shares).
- Open interest addition seen in 11,500P (+8 lakh shares), 11,700C (+5 lakh shares).
Nifty Monthly Expiry 25-July
- Max open interest on call side at 12,000 (32.3 lakh shares).
- Max open interest on put side at 11,300 (21.4 lakh shares).
Stocks In F&O Ban
- DHFL
- IDBI Bank
- Reliance Capital
- Reliance Infra
Brokerage Radar
BofA Securities on Cement
- ACC: Upgrade to ‘Neutral' from ‘Underperform', raised price target to 1,695 from 1,586.
- Ambuja Cements: Upgraded to ‘Buy' from ‘Neutral', raised price target to 261 from 238.
- Expect continued roll-back of price hikes in the second quarter.
- Cement demand to moderate to 5.6 percent CAGR over FY19-22.
UBS on Lupin
- Maintained ‘Buy' with a price target of 900.
- FY19 cash flow boosted by decreased working capital.
- Margin pressure in emerging markets business.
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