The Nifty Futures on the Singapore Exchange, an early indicator of Nifty performance in India, fell around 0.2 percent to 8,354. U.S. stocks slipped lower as energy shares drag lower on sell-off in crude oil.
According to the U.S. Labour Department said the number of Americans who filed for jobless benefits for the first time fell last week, suggesting a possible resurgence in the job market. Claims were a seasonally adjusted 254,000, below the 269,000 poll figure of Bloomberg.
Back home, Indian equity benchmarks closed little changed, as investors adopt a wait and watch approach ahead of second quarter earnings announcements.
Here are all the stocks to watch today:
- Tata Steel said to suspend U.K. sale process on Brexit concern
- Bharti, Vodafone, Reliance Comm, Tata Comm and Idea: May face government action for understating revenues
- Autos: SIAM to release domestic passenger car sales between July 8 and 12.
- HT Media, DB Corp, Jagran Prakashan: FDI cap in print media may be raised
- Lupin: U.S. FDA completes Goa plant inspection; issues Establishment Inspection Report (EIR)
Corporate Announcements
- Reliance Industries: Jio raises Rs 2,000 crore via NCDs
- Indo Count Industries: Launches three new brands in the U.S. market
*Indo Count Global, Inc. U.S. announces a new licensing partnership with Walker Greenbank PLC U.K. for three of its brands: Sanderson, Harlequin and Scion.
- Bank of India: Raised Rs 1,500 crore selling 8.57 percent tier II bonds
- Unitech: Mayfair Capital sells 2.17% stake in the company. Now holds 11.17%
*Unitech promoter firm stake down 2.17% with lenders invoking pledged shares (Financial Express)
- Astec LifeSciences: ICRA upgrades rating to A- and A2+ for long term and short term scale, respectively.
- Mahindra Holiday: Finland unit in JV pact with city of Kuusamo
Media Reports
- Reliance Retail cuts prices of Lyf 4G phones by 25 percent (Economic Times)
- L&T: L&T Infotech ‘actively' scouting for buys in analytics, consulting (Financial Express)
*Immediate target for L&T Infotech is to double its revenue to $2 billion in next 3 years
- State Bank of India: GE's stake in SBI Card attracts Carlyle Group, Credit Saison (Economic Times)
- Maruti Suzuki Says double-digit growth target remains on track for the current fiscal despite production losses (Economic Times)
- DLF: Shortlists 6 potential buyers for the promoters 40 percent stake in its rental arm DLF Cyber City Developers; sale expected to fetch Rs 13,000 crore. (Economic Times)
- Vedanta: To realign its operations in Odisha (Business Standard)
- Reliance Communication: FIPB rejects proposal of RCom's Flag Telecom to set up subsidiary in India (Business Standard)
- Ricoh India: Mutual funds sell entire 2.52 percent stake in company. (Business Standard)
- Sugar stocks: Government clarifies that export of imported raw sugar, after refining, will not attract any duty. (Business Standard)
- Hero Motocorp: PE firms Multiples, Chris Capital, Creador Capital, Baring Asia & Partners Group are in race to buy a 10 percent stake in Hero FinCorp. (Economic Times)
- IOC: Bets on petrochemicals and gas marketing to propel growth (Mint)
- IT firms: Global IT spend to be flat in 2016, says Gartner (Financial Express)
- MMTC: To auction gold collected under monetisation scheme (Financial Express)
Rajesh Exports, Gitanjali Gems: Gems and jewellery exports up 25.5 percent during April-May (PTI) - Aurobindo, Lupin, Cadila: Six Indian firms sign Medicines Patent Pool drug licence deals (Mint)
Earnings to Watch
- South Indian Bank
- 8K Miles
AGMs to Watch
- Birla Corp
- Nucleus Software Exports
- South Indian Bank
*To increase FDI limit to 59 percent from 49 percent.
*To borrow in Indian/Foreign currency by issuing debt securities up to Rs 500 crore on private placement basis.
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