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1 Stocks to Watch: Avenue Supermarts, CSB Bank, GAIL, HCL

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1 Stocks to Watch: Avenue Supermarts, CSB Bank, GAIL, HCL Stocks to Watch: Avenue Supermarts, CSB Bank, GAIL, HCL Tech, HDFC Monday, Jul 5, 2021 - Morning brief for the stock market: TOP EVENTS TODAY * Apr-Jun earnings to be detailed by: Cupid Trades and Finance * Jan-Mar earnings to be detailed by: Asian Hotels (North), Ind Agiv Commerce, Uniworth * Annual General Meetings of: Tata Investment Corp, Tata Power Co, Vimta Labs INDICATORS (previous session) * NSE provisional net buy/(sell) in bln rupees, Jul 2: FIIs (9.83), DIIs 9.30 * Institutional net buy/(sell) in bln rupees, Jul 1: FIIs (1.14) * FII NSE futures net buy/(sell) in bln rupee, Jul 2: index 0.99, stock 2.35 * Sensex: 52484.67, up 166.07 points; Nifty 50: 15722.20, up 42.20 points * Crude: $75.16/bbl; Rupee: 74.74/$1; Gold: $1,783.3/ounce; 10-year yield: 6.0645% 1 WEEKLY SECTOR OUTLOOK * AUTOMOBILE: Seen in narrow range this week * BANKS: May trade in range on lack of immediate triggers * CAPITAL GOODS: May track broad market this week * CEMENT: Seen weak as profit-booking may continue * FMCG: Seen up this week on improved demand * IT: TCS earnings in focus, to set trend for sector * METALS: May remain subdued this week as well * OIL: In narrow range, crude price key for upstream cos * PHARMACEUTICALS: May outperform this week on rotation of funds * TELECOM: Bharti Airtel may gain, Vodafone Idea fall GLOBAL MARKETS * US – Benchmark US indices ended higher on Friday after a better-than- expected June employment report cheered the market and reinforced positive sentiment among investors on economic recovery from the COVID-19 pandemic. * Asia – Markets in the region opened mixed today as services activity fell in China during June, prompting cautiousness among investors, as data last week showed manufacturing activity also dipped in the month. DOMESTIC OUTLOOK * Snapping their four-day losing streak, domestic benchmark indices are likely to open higher today following the strength in global equities due to better-than-expected US jobs data, 2 which suggested the pace of economic recovery in the US was robust. However, selling at higher levels may cap any sharp upmove in the headline indices. IPO WATCH ========= * The government is likely to invite bids from merchant bankers this month for managing LIC disinvestment as it moves ahead with plans to launch the IPO by January, an official said. (PTI) SECTOR NEWS =========== * ECONOMY: India's merchandise imports surged 96.3% on year to $41.86 bln in June, according to preliminary data released by the commerce and industry ministry. Revenue-earning freight carried by the Indian Railways rose 20.4% on year to 112.65 mln tn. * PHARMACEUTICAL: Bharat Biotech Ltd's Covaxin has shown an efficacy of 65.2% against COVID-19's Delta variant, or the B.1.617.2, the company said based on the final analysis of the vaccine's phase-3 trials. STOCKS ====== * AVENUE SUPERMARTS: Standalone revenue from operations for the quarter ended June was at 50.31 bln rupees as against 38.33 bln rupees in the year-ago period. 3 * BHARAT DYNAMICS: Will set up an environmental test facility at its Visakhapatnam unit in Andhra Pradesh, where it manufactures torpedoes and other underwater weapons for the Navy. * BHARAT FORGE: Has completed a payout of 633 mln rupees under the voluntary retirement scheme for employees at its Chakan unit. * BHARTI AIRTEL: Launched the 'Airtel Black' plan, which integrates mobile, direct-to-home, and fibre-based broadband services under one bill. Till now, the all-in-one plan was in the beta stage of rollout. * CADILA HEALTHCARE: Viona Pharmaceuticals is recalling over 21,000 bottles of metformin hydrochloride extended-release tablets manufactured by the company. (PTI) * COAL INDIA: Appointed Siddhartha Ghatak Choudhury as the chief financial officer with effect from Thursday. * CSB BANK: Reported a 23.7% year-on-year jump in gross advances and 14.2% rise in deposits as on Jun 30, according to provisional data released by the bank. * DCB BANK: Will cut its marginal cost of funds-based lending rates by 4 basis points across all tenures, with effect from Monday. * DR REDDY'S LABORATORIES: Expects its business growth to be "volatile" in the current fiscal as the coronavirus pandemic continues to bring in disruptions and impact markets across the globe. (PTI) 4 * GAIL (INDIA): Is eyeing expansion in petrochemicals, specialty chemicals, and renewables, as it pivots a new strategy to expand the business beyond natural gas, said Chairman Manoj Jain. (PTI) * GUJARAT INDUSTRIES POWER CO: The company has restored its 125-MW unit-2 of its lignite power plant in Surat. * HCL TECHNOLOGIES: Has appointed Adolfo Calvino Asensio as the country head of Spain and Portugal to accelerate business growth in the region across key industry verticals. Has secured a multi-year digital transformation agreement with Fiskars Group to provide customers an immersive omni-channel experience. * HOUSING DEVELOPMENT FINANCE CORP: Profit on sale of investments was at 2.63 bln rupees for the quarter ended June. HDFC Investments Ltd, a wholly-owned subsidiary of the company, on Friday completed the sale of 7,960 ordinary class B shares, representing a 19.9% stake, of India Asset Recovery Management Ltd, to WL Ross & Co LLC. * IIFL WEALTH MANAGEMENT: Has proposed consolidation of its distribution business, which is spread across three wholly-owned subsidiaries, into a single entity. * INDIA GRID TRUST: Electron IM PTE Ltd, an affiliate of KKR & Co Inc, has completed acquisition of a 14% equity holding in IndiGrid Investment Managers Ltd from Sterlite Power Transmission Ltd. 5 * INDIAN HOTELS CO: Has set a coupon of 6.70% on non-convertible debentures maturing in three years. * INDOSTAR CAPITAL FINANCE: Bought 250 mln fully paid equity shares worth 2.5 bln rupees of IndoStar Home Finance Pvt Ltd, a wholly-owned arm. * IRCON INTERNATIONAL: Has projected an operating margin of 14-15% for the current financial year as against 9.3% a year ago, primarily aided by a healthy project mix, including high margin business. * J.B. CHEMICALS AND PHARMACEUTICALS: The National Pharmaceutical Pricing Authority has allowed a one-time 50% increase in the ceiling prices of nine scheduled formulations of arbamazepine, ranitidine and ibuprofen drugs. The company has already complied with the price increase for ranitidine. * J.K. CEMENT: Is targeting up to 10% growth in revenue this financial year, helped by the government's push for infra, a good monsoon, and pent-up demand for the sector, said an executive. (PTI) * JK LAKSHMI CEMENT: CARE Ratings has upgraded the company's long-term bank facilities and instruments rating to AA from AA-, and reaffirmed short-term bank facilities rating at A1. * KARUR VYSYA BANK: Advances grew by 8.3% year-on-year to 526.7 bln rupees as on Jun 30, and deposits grew by 7.2% to nearly 644 bln rupees, as per the provisional numbers. 6 * LIC HOUSING FINANCE: Has slashed its home loan rates to a record low of 6.66% for certain loans, with effect from Thursday. * LUMAX AUTO TECHNOLOGIES: The company will set up a 50:50 joint venture with Japan-based Alps Alpine Co Ltd for manufacturing and selling electric devices and components including software related to automotive industry. * MARICO: Fast-moving consumer goods major Marico Ltd's India business delivered over 30% revenue growth in Apr-Jun, led by a robust double-digit growth in volume. * NTPC: Seeking potential overseas off-takers for the flyash produced by its thermal power plants, the company has invited Expression of Interest for sale of the residual product to the West Asian and other regions. It will supply the ash from power plants to ports, and the total quantum earmarked for export is 14.5 mln tn per year. (FE) * REDINGTON (INDIA): The board will meet on Wednesday to consider the proposal of issuing bonus shares. (India) * RELIANCE INDUSTRIES: Reliance Jio Infocomm has introduced emergency data loan packs which customers can use to get additional data and pay later. (ET, Sat) * RESPONSIVE INDUSTRIES: Board has approved the scheme of amalgamation of its subsidiary Axiom Cordages with itself. * SICAL LOGISTICS: The resolution professional has invited expression of interest for debt resolution plan as part of the insolvency proceedings against the company effective from Mar 10. 7 * SUZLON ENERGY: Board has approved allotment of 13.65 mln shares on conversion of 1,476 dollar-denominated convertible bonds due in 2032 at 2.61 rupees per share. * TATA CONSUMER PRODUCTS: Will work "very closely" with BigBasket, an e-commerce platform that was recently acquired by the Tata Group, to drive win-win synergies in terms of costs and topline, according to the company's Managing Director and CEO Sunil D'Souza. (PTI) * TATA STEEL: Has transferred stake in Himalaya Steel Mill Services Pvt Ltd to wholly- owned subsidiary Tata Steel Utilities and Infrastructure Services Ltd for a consideration in the form of 688,639 shares of 213 rupees each. * VEDANTA: Has raised the prices of its aluminium ingots by nearly 2% or 3,750 rupees per tn with effect from Thursday. This is the fifth consecutive price hike taken by the company. * V-GUARD INDUSTRIES: The board has approved incorporation of a wholly-owned subsidiary that will manufacture and sell consumer electricals. * VODAFONE IDEA: Is confident of raising funds in the coming weeks, its management said. Telecom Watchdog, a non-profit unit, has termed the company's demand for a further relaxed payment schedule for its AGR dues illegal. (BS) * WONDERLA HOLIDAYS: Will reopen its resort in Bengaluru from today with 50% capacity. 8 9 .
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