Stocks To Watch: Vedanta, SBI, SBI Card, Nazara, Tata Communications, CarTrade, Mcleod Russel, Gravita India

Asian equities were primed to rise Tuesday following gains on Wall Street and after China stepped up support for its struggling property market.

Futures for benchmarks in Japan, Hong Kong and Australia climbed more than 0.5% while a gauge of U.S.-listed Chinese stocks jumped 1.2%. That suggests bigger moves in the region than Monday’s 0.2% increase for the S&P 500 Index and a marginal move higher for the Nasdaq 100.

Meanwhile, Brent crude was below $78 a barrel and West Texas Intermediate was trading above to $73-mark. The yield on the 10-year U.S. bond was trading at 3.99%, whereas Bitcoin was above 30,000-level.

At 5:25 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was unchanged at 19,650.

Indian stock benchmarks kept steady throughout the day and closed with marginal gains on Monday. The S&P BSE Sensex closed up 64 points, or 0.10%, at 65,344.17, while the NSE Nifty 50 ended 24 points, or 0.12%, higher at 19,355.90. The local currency strengthened 16 paise to close at 82.58 against the U.S. dollar on Monday.

Overseas investors in Indian equities remained net buyers for the ninth day in a row on Monday. Foreign portfolio investors mopped up stocks worth Rs 588.48 crore, while domestic institutional investors snapped their five-day selling streak to become net buyers of equities worth Rs 288.38 crore.

• Vedanta: The company said it is fully committed to semiconductor fab project. It has lined up other partners to set up a foundry. The company already has license for production-grade technology for 40 nm from a prominent Integrated Device Manufacturer. It plans to acquire a license for production-grade 28 nm as well. 
  

• State Bank of India: The lender will divest 2% stake or 40 lakh equity shares at Rs 2 apiece held in National Securities Depositories in its initial public offering.  

• SBI Cards and Payments Services: Rama Mohan Rao resigned as managing director and chief executive officer of SBI Card & Payments Services with effect from Aug. 11. Rao resigned as he has been transferred back to State Bank of India. SBI DMD Abhijit Chakravorty nominated as MD & CEO of SBI Card & Payments.

• Nazara Technologies: The board of Nazara Technologies will raise up to Rs 750 crore via equity and equity linked instruments or securities. The fundraise will be either through one or more qualified institutional placements or preferential allotment or a mix of both. 

• Tata Communications: The company’s unit Tata Communications International has inked a share purchase agreement to acquire remaining stake in Oasis Smart Sim Europe SAS for $12 million (Rs 99.30 crore) in cash. Tata International currently holds a 58.1% stake in Oasis. The acquisition will be concluded within one month. 

• Gravita India: The company expects a loss of Rs 2.50 crore at its manufacturing unit at Mundra in Gujarat due to Cyclone Biparjoy which will be covered by insurance. The company is facing a partial production loss of about 20 days which includes reworking on finished goods.   

• CarTrade Tech: The company has inked share purchase agreement to buy 100% stake in Sobek Auto India from its holding company, OLX India B.V., in a deal worth Rs 537 crore.

• Mcleod Russel India: The company will exclusively discuss, negotiate and evaluate mechanism with Carbon Resources for monetizing identified assets of the company. This is for a one-time settlement of debt owed by the company to its lenders. 

Cyient DLM: Nippon India Mutual Fund A/C Power and Infra Fund bought five lakh shares (0.6%) at Rs 403 apiece. 

• Titan Company 

• Punjab & Sind Bank 

• Raymond 

• Alkyl Amines Chemicals 

• Motilal Oswal Financial Services 

• PCBL 

• Galaxy Surfactants: To meet investors and analysts on July 13. 

• Sterling Tools: To meet investors and analysts on July 14. 

• Price band revised from 10% to 5%: Repro India 

• Ex-Date Dividend: Balkrishna Industries, Bharat Seats, Dr Reddy's Laboratories, JSW Steel, Neuland Laboratories, Persistent Systems, Pix Transmissions, SAT Industries, Shree Global Tradefin 

• Record Date Dividend: Balkrishna Industries, SAT Industries 

• Ex-Date Special Dividend: Persistent Systems 

• Ex-Date AGM: Persistent Systems, SAT Industries, Pix Transmissions, Adani Transmission, Adani Green Energy, Dr Reddy's Laboratories, Neuland Laboratories, Adani Power, JSW Steel 

• Nifty July futures ended at 19,425, a premium of 26.50 points. 

• Nifty July futures fell 1.73%, with 3,621 shares in open interest. 

• Nifty Bank July futures ended at 44,960, a discount of 69.60 points. 

• Nifty Bank July futures fell 2.77%, with 5,096 shares in open interest. 

• Securities in the ban period: Bharat Heavy Electricals, Delta Corp., Granules India, India Cements, Indiabulls Housing Finance, Punjab National Bank, Zee Entertainment Enterprises.