Stock Market Today: All You Need To Know Going Into Trade On July 4

Stock futures suggest small declines in Asia on Tuesday after equities on Wall Street scratched out marginal gains ahead of the Independence Day holiday.

Contracts for benchmarks in Japan, Hong Kong and Australia all slid 0.3% or less, following an advance of just 0.1% for the S&P 500 in a shortened session that ended at lunchtime. The Nasdaq 100 added 0.2% on a day that brought data showing a slowdown in manufacturing.

U.S. equity futures were marginally lower in Asian trading while currencies steadied.

Meanwhile, Brent crude was trading below $75 a barrel and West Texas Intermediate was steady at $70-mark. The yield on the 10-year U.S. bond was trading at 3.85%, whereas Bitcoin was above 31,000-level.

At 5:42 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was down 0.03% or 7 points at 19,440.

India's benchmark stock indices held on to their gains and clocked fresh lifetime highs on Monday. The headline indices carried their record moves from the previous week after logging the best week in over 11 months.

Ahead of closing on Monday, the Sensex jumped 0.90% to a record high of 65,300.35 points. Nifty 50, on the other hand, rose 0.81% to 19,345.10 points. The S&P BSE Sensex Index closed 487 points, or 0.75%, higher at 65,205.05, while the NSE Nifty 50 Index was 134 points, or 0.70%, higher at 19,322.55. The local currency strengthened 8 paise to close at 81.96 against the U.S. dollar on Monday.

Foreign portfolio investors mopped up stocks worth Rs 1,995.92 crore, while domestic institutional investors turned net sellers and offloaded equities worth Rs 337.80 crore, the NSE data showed.

• Adani Transmission: GQG Partners bought an additional 3% stake worth Rs 2,633 crore in Adani Transmission. Its shareholding in the company increased to 6.54% from 3.54% earlier. The securities were acquired through the stock exchange settlement process by way of a bulk deal.

• Adani Green Energy: The board will consider approving fundraising via issue of equity shares or any other mode including private placement, QIP and preferential issues on July 6. Adani Green Energy had cancelled the meeting in May on account of non-availability of directors.

• IDFC, IDFC First Bank: IDFC is set to merge with IDFC First Bank. Shareholders will receive 155 IDFC First Bank shares for every 100 IDFC shares held. Due to the merger, the standalone book value per share of the bank would increase by 4.9%, as calculated on the March 31 financials. The merger stands in favour of the IDFC shareholders by over 16% as per the last closing price of both companies.

• IndusInd Bank: IndusInd Bank promoter IndusInd International Holdings Ltd. approved a fundraise of $1.5 billion. These funds are to be used to fund Reliance Capital’s Rs 9,650 crore buyout. IIHL also agreed to raise its stake in IndusInd Bank from 15% to 26%.

• Reliance Industries: Reliance Jio launched an internet-enabled phone at Rs 999. The beta trial for the first 1 million Jio Bharat phones will begin on July 7. It includes unlimited voice calls and 14 GB of data for Rs. 123 per month. Other phone brands, including Karbonn, will adopt the Jio Bharat platform to build Jio Bharat phones.

• Oil India: The company revised the project capital cost of the Numaligarh Refinery to Rs 7,231 crore from Rs 6,555 crore.

• Tube Investments: The company’s unit, TI Clean Mobility, signed an agreement with Jayem Automotives' promoter, Anand Jayachandran, to foray into the electric small commercial vehicle business. TI Clean Mobility will invest Rs. 160 crore, and Anand Jayachandran will invest Rs. 40 crore in the form of equity in a subsidiary under the former. It also inked a pact to acquire a 50% stake in Jayem Automotive. The acquisition will be done through a combination of equity buyouts from promoters and subscriptions to fresh equity shares aggregating up to Rs 206 crore. TI Clean Mobility will buy equity shares from promoters Anand Jayachandran and B. Jayachandran.

• Torrent Power: The company is implementing the Green Hydrogen Pilot Project to blend CGD. The Gorakhpur-based project will be completed in eight months. It will mix 2.5% into the CGD network. Aims to become an end-to-end green hydrogen solutions provider to commercial and industrial consumers. envisages a plan to develop green ammonia for export purposes.

• Hindustan Zinc: Mined metal production in Q1 rose 2% year-on-year to 257 kilo tonnes. Saleable steel production remained unchanged at 260 kilo tonnes. Wind power generation was down 13% year-on-year to 130 million units.

• Vedanta: Total aluminium production in Q1 of fiscal 2024 rose 2% year-on-year to 579 kilo tonnes. Mined metal output gained 2% from last year to its highest-ever level of 257 kilo tonnes.

• Avenue Supermarts: Standalone revenue from operations for the quarter ended June 30, 2023, rose 18% year-on-year to Rs 11,584.44 crore. The total number of stores as of June 30 stood at 327.

• Bajaj Finance: The company’s fresh loans grew 34% from the previous year to 99.4 lakh in Q1 FY23. Bajaj Finance’s assets under management grew 32% year-on-year to 2.7 lakh crore as of June 30, 2023. It recorded the highest ever quarterly increase in its AUM of Rs 22,700 crore in Q1 FY24. Deposits rose 46% YoY to Rs 49,900 crore in Q1. The consolidated net liquidity surplus stood at Rs 12,700 crore till June 30, 2023.

• Sula Vineyards: The company appointed Karan Vasani as its chief operating officer. The appointment was followed by the resignation of the present COO, Chaitanya Rathi.

• Genus Power Infrastructures: The company won an order worth Rs 2,207.53 crore for the installation and commissioning of 27.69 lakh smart prepaid metres.

1. Senco Gold: The company will launch its initial public offering on July 4. The jewellery retailer is looking to raise a total of Rs 405 crore, out of which Rs 270 crore will be raised through a fresh issue. The IPO also includes an offer for sale of 42.58 lakh shares at Rs 317 each, aggregating to Rs 135 crore. It has raised Rs 121.50 crore from 21 anchor investors at Rs 317 per share, which is the upper end of the price band ranging from Rs 301 per share.

2. PKH Ventures: The company launched its Rs 379.4-crore initial public offering on June 30. The IPO was subscribed 0.06 times, or 6%, as of 5 p.m. on day 1. It was subscribed at 0.3%, or 30%, on day 2. The portion of retail investors subscribed 0.45 times, or 45%, while non-institutional investors lapped 63%, or subscribed 0.63 times. The portion of institutional investors was subscribed 0.11 times, or 11%, on day 2. The issue will close for subscription on July 4.

• Bharti Airtel: Lion Meadow sold 1.9 crore shares (0.3%) while Capital Group bought 1.9 crore (0.3%) at Rs 868 apiece.
  

• Aditya Vision: Sunita Sinha sold one lakh shares (0.8%) and East Lane Capital bought one lakh shares (0.8%) at Rs 1,655 apiece.

• Mahindra Lifespace Developers: To meet investors and analysts on July 27.  

• Jammu & Kashmir Bank: To meet investors and analysts on July 11.  

• Century Textiles & Industries: To meet investors and analysts on July 4.  

• Bajaj Hindusthan Sugar 

• Bombay Oxygen Investments 

• Supreme Petrochem 

• Tata Elxsi 

• Price Band Revised From 10% To 5%: Jay Bharat Maruti

• Price Band Revised From 20% To 10%: 63 Moons Technologies

• Ex-Date Dividend: Nath Bio-Genes, Alkyl Amines Chemicals, Punjab & Sind Bank, Motilal Oswal Financial Services, Agro Tech Foods, Tide Water Oil (India)

• Ex-Date Annual General Meeting: PBCL, Nath Bio-Genes, Alkyl Amines Chemicals, Punjab & Sind Bank, Agro Tech Foods

• Ex-Date Bonus: Kansai Nerolac Paints

• Record-Date Dividend: Motilal Oswal Financial Services

• Record-Date Bonus: Kansai Nerolac Paints

• Move Into Short-Term ASM Framework: Parag Milk Foods

• Move Out Of Short-Term ASM Framework: Saregama India, Alok Industries, PTC Industries, Subros 

• Emami: Promoter Diwaker Finvest revoked a pledge of 74.47 lakh shares between June 27 and 28, and promoter Suraj Finvest revoked a pledge of 1.75 crore shares between June 27 and 28.
  

• Steel Exchange of India: Promoter Vizag Profiles created a pledge of one crore shares on June 28.

• Godfrey Phillips India: Promoter Motto Investment sold 45,000 shares, and promoter HMA Udyog bought 45,000 shares on June 30.

• GNA Axles: Promoter GNA Gears bought 400 shares between June 23 and 27.

• JK Cement: Promoter Kalpana Singhania sold 112 shares on June 30.

• Nifty July futures ended at 19,411, a premium of 149.75 points.

• Nifty July futures rose 2.93%, with 5,858 shares in open interest.

• Nifty Bank July futures ended at 45,288, a premium of 437.50 points.

• Nifty Bank July futures rose 4.71%, with 7,975 shares in open interest.

• Securities in the ban period: Indiabulls Housing Finance

Indian rupee closed 0.10% lower at 81.96 against the U.S. dollar on Monday.

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