Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S. (Photographer: Michael Nagle/Bloomberg)
- InterGlobe Aviation comments on Air India acquisition
- IDFC Bank refuses to comment on Shriram merger
- Emkay Global, Intellect Design Arena to raise funds
- GM Breweries net profit falls 19.2 percent in April-June quarter
- RBL Bank's annual report points to divergence in NPAs
The Singapore traded SGX Nifty, an early indicator of Nifty's performance in India, fell 0.4 percent to 9,631.
All you need to know going into Friday's trade, reports @darshanvmehta1.https://t.co/bwUw7pEsU4 pic.twitter.com/dOlc4gobWJ
Here are the stocks to watch out for in today's session:
- InterGlobe Aviation: Says will go for Air India acquisition if its earnings per share (EPS) accretive
- Bharat Forge: Subsidiary Kalyani Strategic Systems signs pact with Israel's Aerospace Industries to build new maintenance centre in India for selected advanced air defense systems
- IDFC Bank: Refused to comment or deny reports of merger with Shriram group companies
- Emkay Global: To raise Rs 150 crore through issuance of equity shares via QIP or ADRs or GDRs or FCCBs or a combination thereof
- Navin Fluorine: Shareholders approve sale of unit located at Dahej in Gujarat
- RBL Bank: Annual report points to divergence in NPAs
GM Breweries (Q1, YoY)
- Net profit down 19 percent to Rs 10.2 crore
- EBITDA down 22.08 percent to Rs 15.5 crore
- EBITDA margin contracts to 16.4 percent from 22.3 percent
RBL Bank reports Rs 339-crore divergence in gross bad loans, @visshy_it.https://t.co/7OiySADtKU pic.twitter.com/t5zWTcEYxM
Other Corporate Announcements
- Tata Motors: Reduces prices of its commercial vehicles (Cargo) by 0.3-4.21 percent and that of commercial vehicles (passenger transportation) by 0.6-8.2 percent
- Techno Electric and Engineering: Board approves scheme of amalgamation with Simran Wind Projects Ltd., a wholly-owned subsidiary of the company
- Phillips Carbon: Shareholders approve scheme of amalgamation with Goodluck Dealcom Pvt. Ltd.
- Balaji Amines: Received approval from Ministry of Environment for expansion of its project situated in Solapur
- Bannari Amman Spinning Mills: Proposes investing an additional 18 percent in its JV company Young Brand Apparel Pvt. Ltd. thereby increasing its total holding to 51.33 percent from 33.33 percent
- HPCL: Cabinet to decide on stake sale to ONGC this month
- Petronet LNG: Bonus shares available for trading
- ICICI Prudential: Ex-date for final dividend of Rs 2.3 and a special dividend of Rs 1.2 per share
- IMFA: Ex-date for dividend of Rs 10 per share
- Lakshmi Vilas Bank: Ex-date for dividend of Rs 2.7 per share
Intellect Design Arena
- Board approves raising Rs 199 crore via rights issue
- Shareholders to receive 5 rights shares for every 22 held at an issue price of Rs 86 per share
- Issue opens on July 26 and closes on August 9
An IDFC Bank-Shriram merger? Will they? Should they? @YatinMota reportshttps://t.co/oc7Z6keQno pic.twitter.com/VvYkUTLdnp
Today's Nifty Call
Sobha has room to rise further in real estate rally.https://t.co/zacSsckJWe pic.twitter.com/aiFTKacvUT
F&O Setup
- Nifty futures end trade at 9,673, a discount of 1 point
- Nifty futures shed 52,000 shares in open interest
- Nifty bank futures add 1.2 lakh shares in open interest
- Put-Call Ratio rises to 1.3 from 1.26
Active Stock Futures
- State Bank of India: Short covering seen as open interest falls 4 percent
- Bajaj Auto: Saw long unwinding with open interest falling 1 percent
- JSW Energy: Long unwinding seen as open interest fell 5 percent
- Page Industries: Added 22 percent in open interest, fresh short positions seen
- HDIL: Added 22 percent in open interest, fresh long positions seen
- PNB: Added 5 percent in open interest with fresh long positions
Stocks In F&O Ban
- HDIL
- Indiabulls Real Estate
- Jaiprakash Associates
- JSW Energy
- Ujjivan Financial Services
Essar Steel blames government for debt woes, says RBI action arbitrary.https://t.co/15NlzIDOln pic.twitter.com/4DKUjVJQnT
Bulk Deals
Gayatri Projects
- Government of Singapore bought 81.31 lakh shares or 4.6 percent stake at Rs 150 each
- Monetary Authority of Singapore bought 28.68 lakh shares or 1.6 percent stake at Rs 150 each
- India Max Investment Fund sold 67.85 lakh shares or 3.8 percent stake at Rs 150 each
Redington India
- Reliance Mutual Fund bought 70 lakh shares or 1.75 percent stake at Rs 125 each
- Norges Bank on Account of the Government Pension Fund Global bought 1.19 crore shares or 3 percent stake at Rs 125 each
- Harrow Investment Holding Ltd. sold 1.99 crore shares or 5 percent stake at Rs 125.1 each
Welspun Corp
- Kotak Mahindra AMC bought 20.56 lakh shares or 0.5 percent stake at Rs 106 each
- Granele Ltd. sold 26.50 lakh shares or 0.66 percent stake at Rs 106.08 each
WPIL
- DSP Blackrock Mutual Fund sold 80,916 shares or 0.8 percent stake at Rs 457.74 each
- Eastspring Investments India Infrastructure Equity Open Ltd. sold 50,847 shares or 0.5 percent stake at Rs 460.12 each
- Gateway Distriparks: Morgan Stanley Investment Funds Indian Equity Fund bought 20.53 lakh shares or 1.9 percent stake at Rs 279.2 each which were sold by Local Government Superannuation Scheme
- HDIL: Goldman Sachs Singapore PTE sold 25.89 lakh shares or 0.6 percent stake at Rs 87.67 each
- Nesco: Franklin Templeton Mutual Fund bought 1 lakh shares or 0.7 percent stake at Rs 2,385 each
- Unitech: Manish Lakhi bought 1.54 crore shares or 0.6 percent stake at Rs 6.46 each
Why are regulators silent on SpiceJet's acquisition price? Reports @sajeetkm https://t.co/1uXO9wlbjt
Brokerage Calls
- InterGlobe Aviation: JPMorgan maintains 'Neutral' with price target of Rs 1,130
- HDFC Bank: CLSA maintains 'Buy' with price target raised to Rs 2,000 from Rs 1,830
- Wipro: CLSA downgrades to 'Outperform' from 'Buy' with price target cut to Rs 290 from Rs 295
- ITC: Nomura maintains 'Buy' with price target raised to Rs 389 from Rs 356
- Tata Steel: Jefferies maintains 'Underperform' with price target of Rs 159
Fears over transition to #GST to weigh on consumer goods makers' earnings, reports @sharleendsouza.https://t.co/423rexkDMI pic.twitter.com/Pi5jjDcXxw
Media Reports
- SBI: New York unit sells loans of Jyoti Structures' U.S. unit. (Mint)
- Indian Overseas Bank: Recovers Rs 75 crore between January and May via skip tracing. (Financial Express)
- Bharti Airtel: NCLT may take up objection raised by GTL over merger with Reliance Communications. (Financial Express)
- Lupin: Says fears over U.S. FDA action are overdone. (Mint)
- Jaiprakash Associates: Aims to become debt-light or even debt-free. (Economic Times)
- Sugar Stocks: Sugar output seen higher, government mulls help for industry. (Business Standard)
- Infosys: To hire 2,000 locals in North Carolina. (Business Standard)
- Glenmark Pharmaceuticals: Gets U.S. FDA nod for Amlodipine and Olmesartan Medoxomil. (Bloomberg)
- Adani Ports & SEZ: To begin work on Dhamra LNG Terminal on July 8. (Bloomberg)
- Bharti Airtel: Bharti Enterprises and Tata Group may join hands for telecom and DTH business. (Economic Times)
Chetan Ahya, chief Asia economist at Morgan Stanley, discusses the FOMC minutes and reduction of the Fed balance sheet. pic.twitter.com/JnKyJTRPY7
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