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Stocks to watch today: Flat start is on cards for the Indian equity markets amid unsupportive global cues. As of 7:08 AM, the SGX Nifty Futures quoted 16,102 levels, down 44-odd points on the Nifty50.
Globally, all major indices in the US markets dropped to negative territory on recession fears. Dow Jones fell 0.6 per cent, while the S&P 500 and NASDAQ Composite slipped 0.9 per cent each. However, Asia-Pacific markets rose on Wednesday morning as Nikkei 225 climbed 0.3 per cent, whereas, South Korea’s Kospi advanced 0.3 per cent.
On Wednesday, July 13, investors will closely track the US retail inflation figures for June as it will determine the US Federal Reserve’s next course of action. That apart, UK will release their GDP numbers.
Meanwhile, here are stocks that are likely to see some action in trade on Wednesday:
Results today: Mindtree and Tata Metaliks will report their June quarter results 2022 (Q1FY23) on Wednesday, July 13.
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HCL Technologies: The IT major reported growth in net profit by 2.4 per cent year-on-year (YoY) to Rs 3,283 crore in June quarter 2022. However, it was down 8.6 per cent sequentially. Meanwhile, revenue stood at Rs 23,646 crore, up 16.9 per cent YoY and 3.8 per cent sequentially. The company also maintained its FY23 revenue guidance at 12-14 per cent growth. READ MORE
Eveready Industries (India): The dry cell battery maker has reshuffled their board to appoint Burman family members and select nominees. They approved appointment of Anand Chand Burman, Mohit Burman and Arjun Lamba as non-executive directors (additional directors). Sunil Alagh, meanwhile, has been appointed as independent director (additional director) of the company for a period of five years. READ MORE
UCO Bank: The state-run bank received shareholders nod to raise equity capital by issuing up to 100 crore shares. The bank aims to raise equity capital this fiscal in order to support growth. That said, the chairman Soma Sankara Prasad said that the bank has not declared dividend for FY2021-2022 due to capital conservation. READ MORE
Anand Rathi Wealth: The non-bank wealth solutions company reported 33.6 per cent jump in PAT at Rs 39.7 crore for Q1FY23. In comparison, the company had posted PAT of Rs 29.7 crore in the same quarter of preceding fiscal. Meanwhile, total revenue rose by 35.7 per cent to Rs 133.5 crore in Q1 from Rs 98.4 crore, a year ago. READ MORE
Vodafone Idea: The telecom operator introduced course materials or Agniveer exams that will be conducted by Indian defence forces this year. The company has partnered with edtech firm Pariksha to launch the course on its app. The company said that it will provide access to the test prep material for Agniveer along with many other government job exams on the Vi jobs and education platform. READ MORE
SBI, ICICI Bank: State Bank of India (SBI) and ICICI Bank has hiked interest rates on foreign currency non-resident (FCNR) bank deposits. While the interest rate on US dollar category deposits with maturities up to 2 and 3 years are up by 85 basis points (bps) to 2.85 per cent and 3 per cent, interest rate on maturities above 3 years has been raised by 80 bps.
SpiceJet: Despite reports of technical malfunction in aircraft since the last 24 days, the airline operator’s occupancy rate has remained high in July. The airline's occupancy rate, also called passenger load factor (PLF), was above 80 per cent between July 1 and July 11.
NMDC: The state-owned miner will be removed from the Nifty CPSE index following its decision to hive off its steel subsidiary NMDC Steel. The proposal has received shareholder’s approval. NMDC, which has nearly 5 per cent weightage in the Nifty CPSE index, could see outflows of over $100 million (nearly Rs 800 crore) on account of its exclusion.
Karur Vysya Bank: The private sector lender has approved appointment of former RBI executive Meena Hemchandra as part-time chairman of the bank for three years. She is a career banker with over 35 years of banking experience in various departments of the RBI. Hemchandra was the Executive Director of RBI from June 2015 to November 2017.
Stocks in F&O ban: Delta Corporation is the only stock banned in the F&O ban period on Wednesday, July 13.
