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Rise or fall? lets watch today! Pre-Market Report: 12, Jul 2021

Good Morning Everyone, and let us start yet another brand new week in our investing journey with MPI Invest. As we discussed in our weekly meeting on Saturday, the international markets are closed positively on Friday and for us in India today will be the deciding factor, to know if our Index will rebound or break down. However, I am still bullish about the market and if at all the market goes down, it will be short-term and an opportunity for us to add some more nice stocks into our kitty.

Global Markets:

As discussed in our weekly meeting, US markets closed on Friday with record highs setting the international markets on a positive note. The Dow Jones Industrial Average rose 446.29 points, or 1.3%, to 34,868.22, the S&P 500 gained 48.44 points, or 1.12%, to 4,369.26 and the Nasdaq Composite added 139.83 points, or 0.96%, to 14,699.61.

Asian markets were also positive this morning as Japan’s Nikkei bounced 1.9%, while South Korea added 0.6%. Nasdaq futures rose 0.1% and S&P 500 futures were a fraction firmer.

Indian Market:

Trends on the SGX nifty signal a positive gap-up start of the Nifty, higher at around 15780 to 15800, however as I told you earlier, we are not seeing any big positivity to actually break the 15900 barrier as of now, which may lead to some more profit booking if the Index moves higher.

But if that if the fall continues, then we may see support at 15700 levels, and if that is broken, we can see more downside to around 15650 and 15600 levels.

However, with our strategy, we should be able to achieve our small targets in our stock holdings which may not be affected much by the Index movement.

Petrol sales rose 5.6 percent year-on-year to 2.4 million tonnes in June. It was up 21 percent from May sales of 1.99 million tonnes. As the states go into unlock mode, we can see some excitement in the petroleum sector.

India's foreign exchange reserves swelled by $1.013 billion to touch a lifetime high of $610.012 billion in the week ended July 2, RBI data showed on Friday. In the previous week ended June 25, 2021, the reserves had jumped by $5.066 billion to reach $608.999 billion.

Results Today:

HFCL, HMT, Steel Strips Wheels, Amit Securities, Dr Lalchandani Labs, Indbank Merchant Banking Services, Ind Bank Housing, ISMT, SM Gold, and Welcure Drugs & Pharmaceuticals will release quarterly earnings on July 12.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 1,124.65 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 106.55 crore in the Indian equity market on July 9

Stock Specific News:

Maruti Suzuki India | The company announced the nationwide roll-out of its digital platform Maruti Suzuki Smart Finance that provides customers end-to-end online car financing solutions.

Avenue Supermarts | The company reported sharply higher standalone profit at Rs 115.13 crore in Q1FY22 against Rs 49.56 crore, YoY, while revenue jumped to Rs 5,031.75 crore from Rs 3,833.23 crore YoY.

Vedanta | The company has raised the prices of Aluminium Ingots by nearly 2 percent.

Federal Bank | The Reserve Bank of India has approved the re-appointment of Shyam Srinivasan as the MD & CEO of the bank for a period of three years with effect from September 23, 2021, till September 22, 2024.

Equitas Small Finance Bank | The bank has received the Reserve Bank of India’s permission to apply for the scheme of amalgamation.

Unichem Laboratories | The company has received tentative approval for Abbreviated New Drug Application of Sitagliptin tablets USP, 25 mg, 50 mg, and 100 mg from the United States Food and Drug Administration (USFDA).

JSW Energy | Karcham Wangtoo Hydro Electric Power Plant owned by the company’s subsidiary JSW Hydro Energy has completed the trial run for 1,045 MW and commenced commercial operation.

NBCC (India) | The company has awarded orders worth Rs 320 crore.

RattanIndia Enterprises | RattanIndia-backed EV maker Revolt Motors has commenced delivery of the new batch of its electric bikes to customers.

Quess Corp | The company has increased its stake in digital gig worker platform Taskmo to 33.33 percent from 16.12 percent with an investment of about Rs 3.2 crore.

SJVN | The company has signed a pact with the Investment Board of Nepal (IBN) to develop the 679-megawatt (MW) Lower Arun Hydro Electric Project in the country.

Emkay Global Financial Services | Equity Intelligence India sold a 0.76 percent stake in the company via open market transaction, reducing shareholding to 2.6 percent from 3.36 percent on July 7.

Bhansali Engineering Polymers | The company reported consolidated profit at Rs 77.38 crore in Q1FY22 against a loss of Rs 1.38 crore in Q1FY21. Revenue jumped to Rs 231.91 crore from Rs 99.39 crore YoY.

Compucom Software | The company has won a tender and received a Letter of Acceptance for IT enablement of PESA/FRA Acts with other schemes for Tribal Area Development (TAD) Department, Government of Rajasthan, and operations & maintenance services for a period of six months from RISL worth Rs 58.40 lakh inclusive all incident charges and taxes and excluding GST.

Shaily Engineering Plastics | The company approved raising of funds up to Rs 300 crore, in one or more tranches by way of issuance of securities through a qualified institution placement//preferential offer or a combination thereof.

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