Stocks to Watch: SBI, L&T Infotech, Tata Steel and More
The early indicator SGX Nifty is up around 25 points or 0.3 percent to 8,382 reflecting the improving global market setup.
On Friday, Indian stocks closed the week nearly 3 percent higher recovering all of the post-Brexit losses.
Nifty has closed firmly above 8300 levels which signal continuation in the uptrend. On the domestic front inflation will be a key data to watch for, the expectation is higher at 5.9 percent versus 5.8 percent last month. The pickup in Government spending, implementation of 7th Pay Commission and a slew of new reforms have increased hope for passage of GST bill. Domestic consumer and consumer discretionary will continue to get positive buying. The broad market is likely to follow the suit in expectation of continued revival in corporate earnings as seen last quarter. The next resistance for Nifty is likely to stand at 8400-8450 levels.Vinod Nair, Head of Research, Geojit BNP Paribas said in an email statement.
Here is a list of stocks to watch today
Corporate Announcements
- Adani Transmission: Signs definitive agreement with GMR Energy to acquire 74% equity shares of Maru Transmission Service Company.
- Jindal Stainless: Allots 16.82 crore shares to Jindal Stainless (Hisar) for Rs 366 cr on preferential basis to pay off its dues
- Coal India: Production growth 3.5 percent to 126 million tonnes (target 132mn tonne) Offtake growth 2.9 percent to 133 million tonnes (target 149mn tonne)
- Snowman Logistics: To invest Rs 17 crore in new project at Krishnapatnam
- Tata Motors: Posts 22 percent sales growth in passenger segment in June.
*Cumulative sales volumes were 6 percent higher in June.
- Jubilant Industries: Discontinues operations at Rajasthan plant
- Camlin Fine Sciences: Approves closure of QIP at Rs 85.4 to be allotted to eligible qualified institutional buyers
- MTNL: Receives Income Tax refund for the assessment year 2000-01 amounting to Rs 112.95 crores, including Rs 52.35 crore interest on refund.
- Hero Motocorp: Sells 549,533 units in June
- Wockhardt: Gives corporate guarantee to secure term loan of $250 million
- Bosch: Approves buyback of 0.8 million shares at Rs 23,000 (representing 24.99 percent of paid up capital)
- Andhra Bank, Oriental Bank of Commerce: Unions declare one-day strike on July 13
- Edelweiss Financial Services: Promoters pledge 7.6 percent of the total capital
- Setco Automotive: Promoters pledge 4.53 percent of total capital
- TVS Motors: Posts 11 percent sales growth in June 2016
- OnMobile Global: The company informed of completion of buybackTrident: Launches French brand Elle Decor in India
- Adani Ports: Acquires TM Harbour Services for an undisclosed amount
- FDC: Company's manufacturing unit at Waluj receives two minor observations from the USFDA.
- MOIL: Lowers prices of ore by 10-15 percent
- HSIL: To increase borrowing limit to Rs 2,000 crore from Rs 1,500 crore.
*To issue NCD's up to Rs 500 crore on private placement basis.
PTL Enterprise: To transfer medicare and healthcare business to Artemis Global Life Sciences Limited (wholly owned subsidiary).
Media Reports
- Essar Oil looks to double petrol pumps to 4,300 in 18 months (Economic Times)
- SBI: Strike against merger of SBI associate banks from July 12 (Economic Times)
*Launches 3 new digital offerings
*Raises Rs 911 crore by selling 5 percent stake in NSE
*Signs pact with RIL for setting up payment bank
*Jaypee account an NPA, banks may invoke SDR: SBI official
*Lenders seek atleast Rs 135 crore for Kingfisher House
- IDBI Bank: ADB, IFC in talks with lender for Rs 3,771 crore QIP (Economic Times)
- Indian Bank: Revises FCNR deposit interest rates (Economic Times)
- Syndicate Bank: Plans to raise Rs 4,300 crore (Economic Times)
- Bajaj Electricals: Launches new range of kitchen appliances (Economic Times)
- Titan: Tanishq sales up in Q1 on wedding season demand (Economic Times)
- Sugar stocks (Praj Industries, Balrampur Chini, Bajaj Hindusthan etc): Ethanol blending to go up to 22.5 percent, says Nitin Gadkari
- Coal India: Records 10 percent production growth in June 2016 to 42.72 million tonne (Economic Times)
- MOIL: To infuse Rs 1,600 crore in 5 years on expansion strategy (Economic Times)
- GAIL: To extend financial aid to build Dabhol breakwater (Economic Times)
- Zee Learn, Tree House deal under Sebi scanner (Economic Times)
- Sanofi, Boehringer Ingelheim seek CCI nod for asset swap (Economic Times)
- ITC to add 7 boutiques of luxury chocolate brand (Economic Times)
- Castex Technologies: Hedge funds move UK court against firm, StanChart over share dealings (Economic Times)
- Kingfisher Airlines books of accounts go missing (Mint)
- Venky's: Poultry, egg prices soar as long summer hits production (Economic Times)
- NTPC: Government panel defers green clearance for thermal power major's Rs 18,000 crore plant in Madhya Pradesh (Mint)
- Tata Steel: Set to freeze sale of UK assets (Port Talbot) to assess the fallout of Brexit vote (Mint)
- IL&FS Investment Managers: To raise $500 million infra funds.
- RIL, ONGC, GAIL, Cairn India: Auction of small and large fields under the new hydrocarbon exploration licensing policy will begin soon (Mint)
- Lafarge, Piramal Enterprises, JSW Cement: 5 final contenders for Lafarge's India ops to submit bids today (Economic Times)
*JSW Cement ties up with Bain & CVC to take on Piramals and Nirma; Cemex, Anhui Conch dark horses
*Bids likely to be at Rs 8250-9000 crore
IPO Watch
- Larsen and Toubro IPO at Rs 705-715 per scrip; starts only July 11 closes on July 13.
- ITDC: Govt kick-starts process to sell 12.03 percent via OFS.
- Quess Corp IPO gets demand for nearly 145 times shares offered at the sale close on July 1.
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