Stock Market Today: All You Need To Know Going Into Trade On July 5

Asian stocks opened with gains Tuesday as investors evaluate the possible scrapping of some US tariffs on Chinese consumer goods.

The Nikkei, Topix, Kospi rose while S&P ASX 200 advanced. Japan and China are set to release PMI reading as well. U.S. markets were closed overnight for a holiday.

At 8:00 am, the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- rose 0.26% to 15,864.50.

Crude climbed toward $111 a barrel. Bitcoin retook the $20,000 level.

• Tata Consultancy Services: A U.S. court reduced the punitive damages to $ 140 million in a trade secrets case with American software firm Epic Systems Corp. The company said that it has been advised that the order is appealable in the higher court.

• Marico: The company increased its stake in Apcos Naturals by 4.14% to 56.52% for undisclosed consideration.

• Cipla: The United States Food and Drug Administration conducted a pre-approval inspection at the company's Indore plant from June 27 to July 1. It has received two observations on FDA Form 483 with respect to ANDA filed for the product to be manufactured at the said plant. There is no data integrity observation. The company said that it will submit its response to the U.S. FDA within the stipulated time.

• Vedanta: The company reported 3% yoy increase in production of Aluminum in Q1 to 5.65 lakh tons. It also increased mining of domestic Zinc’s by 14% yoy to 2.52 lakh tons in the first quarter. Oil and Gas gross production reduced 10% yoy to 1.35 crore barrels of oil equivalent.

• Kotak Mahindra Bank: The Reserve Bank of India imposed a penalty of Rs 1.05 crore due to inability of bank to credit amount involved in unauthorised electronic transactions within 10 working days. The Bank did not maintain/apply required margin on advances to stockbrokers. It failed to credit required amount to depositor education fund.

• IndusInd Bank: The Reserve Bank of India imposed a penalty of Rs 1 crore for non-compliance with customer due diligence procedures in accounts opened via E-KYC.

• Kirloskar Ferrous: The company has upgraded Mini Blast Furnace II at Koppal plant, Karnataka leading to increase in production capacity of pig iron 1.8 lakh metric ton p.a. to 2.176 lakh metric ton p.a. Consequently, total manufacturing capacity of pig iron at company level has increased to 6.09 lakh metric ton p.a.

• Tata Steel: Tata Steel, through its subsidiary Tata Steel Long Products has completed the acquisition of Neelachal Ispat Nigam.

• Tata Power: Company to invest Rs 3,000 crore to set up Tamil Nadu solar plant.

• Tech Mahindra: Company opens new campus in Coimbatore, aims to hire 1,000 in FY23 to grow India operations.

• LIC: The company approved investment of Rs 127.07 crore in LIC (Nepal) via rights issue.

• Emami: The company has increased its stake in its subsidiary company Brillaire Science from 72.02% to 77.53%.

• PTC India Financial Services: The company received a satisfactory report by the Agency for Specialized Monitoring appointed by the lenders.

• Marksans Pharma: The company will consider buyback of shares on July 8.

• JTL Infra: The company’s sales volume rose 3.9% yoy to 3,3302 MT in first quarter.

• Aurobindo Pharma: Promoter K Nityananda Reddy created a pledge of 17 lakh shares on June 30.

• Chambal Fertilizers & Chemicals: Promoter Zuari Industries revoked a pledge of 2.8 lakh shares on June 28 and 5 lakh shares between June 29 and June 30.

• PSP Projects: Promoter Group PPP Family Trust bought 25,000 shares on June 30.

• KIMS: To meet investors from July 5 to July 7.

• Angel One: To meet investors and analysts on July 15.

• Ex-Date Annual General Meeting/Dividend: MindTree, Mphasis, Wheels India

• Record Date Dividend: Petronet LNG, Yasho Industries

• Record Date Bonus: EKI Energy Services

• Move Into Short-Term ASM Framework: Lloyds Steels Industries

Morgan Stanley on M&M Financial

• Overweight, with a target price of Rs 225.

• MoM growth in disbursements was strong and better than estimates.

• Collection efficiency in June was higher than in May and April.

• Collection efficiency was highest for Q1 (seasonal) in recent history.

• Stage 3 loans were only marginally higher QoQ, per MMFS (historically close to 30% QoQ).

Motilal Oswal on LIC

• Initiate with 'buy', target price at Rs 830.

• Business drivers in place; execution remains the key.

• Estimate LIC to deliver 10% CAGR in new business profit during FY22-24E while value of new business margin is likely to improve to 13.6% on improving product mix & higher profit retention.

• Estimate LIC’s operating return on embedded value to remain modest at 9.7% on lower margin profile than private peers.

• Valuation at 0.7x FY24E EV appears reasonable.

• High sensitivity to equity market volatility remains an overhang.

The rupee ended at Rs 78.95 against the U.S. Dollar on Monday as compared to Friday's closing of 79.04

• Nifty July futures ended at 15,831.30, a discount of 4.05 points.

• Nifty July futures rose 2.68% and 6,321 shares in Open Interest.

• Nifty Bank July futures ended at 34,047.30, a premium of 106.4 points.

• Nifty Bank July futures added 1.67%, 1,658 shares in Open Interest.

• Oil & Gas Sector Check - Government Of India Makes Hay While The Sun Shine: Motilal Oswal

• Star Health - Business Moats To Help Combat Competitive Pressures: ICICI Securities

• Bajaj Auto, APL Apollo Tubes, CCL Products And More - Top Stock Picks For July By Axis Securities

• Reliance Industries - Imposition Of Excise Duty To Cap Refining Gains: ICICI Direct

• Rolex Rings - Margins Likely To Stabilise Around Current Level: HDFC Securities Initiates Coverage