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Stocks To Watch: Sun Pharma, IDBI Bank, MM Forgings

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Indian equity benchmarks’ three-day upmove slowed on Wednesday amid escalating trade tension between the U.S. and China.

The S&P BSE Sensex Index closed 0.07 percent higher at 36265.93, while the NSE Nifty 50 Index closed at 10,948.30, a little changed from the previous session.

Here Are The Stocks To Watch Out For In Today’s Trade

  • Sun Pharma’s arm DUSA Pharmaceuticals files additional claims in lawsuit against Bifrontera for patent infringement and trade secret misappropriation in the U.S. District Court.
  • Idea Cellular said that the current approval of DoT for merger with Vodafone is conditional and not final.
  • LIC-IDBI Bank deal may conclude by September, PTI reports.
  • MM Forgings to issue bonus shares in 1:1 ratio.
  • Fortis Healthcare board to consider fund raising on Friday.
  • Power Grid arm begins full commercial operations in Maharashtra.
  • Telecom panel accepts TRAI’s net neutrality views, reports PTI.
  • MRO-TEK Realty has empaneled with BSNL as National Systems Integrator partner for enterprise business.
  • Shree Ajit Pulp and Paper receives export order for 1240 MT of kraft paper worth Rs 4.06 crore.
  • Coffee Day Enterprises’ arm enters into an agreement for five years with Uber Eats for distribution of food products.
  • Quinaq Acquisition (FPI) increases stake to 9.94 percent from 3.09 percent in Mannapuram Finance.
  • Satin Creditcare Network approves transfer of MSME business to arm; to acquire 11 lakh shares in subsidiary for Rs 3.3 crore.
  • Bank of Baroda clarifies on reports of PS Jayakumar succeeding Axis Bank’s MD and CEO Shikha Sharma as ‘speculative’.
  • Rinkoo Somani appointed as the interim CFO of IDFC.
  • Omaxe bags Gandhi Maidan project for development of multi-level car parking space by NMDC.
  • Chambal Fertilisers and Chemicals’ board approves voluntary winding up of its arm Inuva.
  • IFCI hikes its short-term benchmark rates by 10 basis points to 9.1 percent from July 12.
  • MCX probing software, hardware lapses causing glitch, says halt was not due a cyber attack.
  • Bank of Baroda and Korea's KB Financial Group ink MoU to set up financing corridor.
  • IDBI Bank raises MCLR by 10 basis points to 9.6 percent from July 12.
  • Shree Cement arm completes acquiring 97.61 percent stake in UAE based UCC.
  • NCLT to hear insolvency plea against RHC Holding on July 25, Bloomberg reports.
  • India Gylcols mull raising Rs 250 crore via issue of securities.
  • Max India promoters clarifies SEBI has not mandated an open offer in its order.

Earnings Reaction To Watch

Reliance Industrial Infrastructure Ltd (Q1, YoY)

  • Revenues down 12.4 percent to Rs 21.2 crore.
  • Net profit up 5.6 percent to Rs 1.9 crore.
  • EBITDA down 51.8 percent to Rs 2.7 crore.
  • Margins at 12.7 percent versus 23.1 percent.

Bulk Deals

Indiabulls Venture

  • Jasmine Capital Investments Pte Ltd acquired 72.9 lakh shares or 1.4 percent equity at Rs 286.5 each.
  • Cinnamon Capital Ltd sold 72.9 lakh shares or 1.4 percent equity at Rs 286.5 each.

Who’s Meeting Whom

  • Eris Lifesciences to meet Edelweiss Asset Management on July 12.
  • Mahindra & Mahindra to meet investors on July 13.
  • Allcargo Logistics to meet Birla Mutual fund and Morgan Stanley Investment Management on July 12.
  • Finolex Industries to meet Birla MF, Franklin Templeton and other investors on July 12.

Insider Trades

  • Century Enka promoter group sold 3.9 lakh shares on July 9.
  • Liberty Shoes promoter group Anmol Gupta acquired 5,000 shares from July 5-6 and promoter group sold 1,300 shares on July 10.
  • Vaibhav Global promoter and director Rahimullah sold 1.2 lakh shares on July 9.
  • Maxheights Infra promoter and director Naveen Narang sold 12,600 shares on July 10.
  • V-Mart Retail promoter group sold 15,000 shares from July 9 to July 10.

Rupee

  • Rupee ends at 68.77/$ on Wednesday versus 68.82/$ on Tuesday.

F&O Cues

  • Nifty July Futures closed trading at 10,938.6 discount of 9.7 points.
  • July series-Nifty Open Interest up 3 percent and Bank Nifty Open Interest down 7 percent.
  • India VIX ended flat at 12.7, up 3 percent.
  • Maximum Open Interest for July series at 11,000 Call, Open Interest at 43 lakh, Open Interest up 17 percent.
  • Maximum Open Interest for July series at 10,600 Put, Open Interest at 52.8 lakh, Open Interest up 2 percent.

F&O Ban

In Ban: IDBI Bank

Only intraday positions can be taken in stocks which are in F&O ban. There is a penalty in case of a rollover of these intraday positions.

Put Call Ratio

  • Nifty PCR at 1.66 versus 1.65
  • Nifty Bank PCR at 1.11 versus 1.31

Active Stock Futures

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