RIL, Info Edge, Bharti Airtel, Vodafone Idea, Mindtree, Tatva Chintan IPO, bank stocks in focus

Market participants will first react to IIP and CPI inflation data, that were released post market hours.

Nifty futures surged higher and were trading 137.50 points or 0.88 per cent up at 15,825.50 on Singaporean Exchange. Market participants will first react to IIP and CPI inflation data, that were released post market hours. Moreover, investors will watch first-quarter earnings of FY22, stock-specific development, pace of vaccination drive, new delta variant of COVID, rupee movement against US dollar and crude oil prices. Technical analysts say that for almost 27 days, the market has been consolidating within the trading range of 300 points, which is remarkable and indicates a make or break in the near term. “The Nifty/Sensex would go to the level of 15500/15450 (51600) after dismissal. The 15700/52400 and 15780/52700 levels, on the other hand, would be the main levels of resistance,” Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities, said.

Stocks to watch

Mindtree, Tata Metaliks: Companies such as Deccan Health Care, Gagan Gases, Mindtree, Tata Metaliks, Shree Ganesh Remedies, TPI India, and WS Industries will release quarterly earnings on July 13.

Info Edge: Zomato IPO will open for anchor investors on July 13. The issue would open for subscription for public on Wednesday, July 14, at the price band of Rs 72-76 per share. Naukri.com’s parent company, Info Edge holds a stake of about 18.55 per cet in the food delivery platform.

Tatva Chintan Pharma Chem: Tatva Chintan Pharma Chem Ltd has fixed a price band of Rs 1,073-1,083 a share for its Rs 500-crore IPO. The public issue will open on 16 July and close on 20 July. It comprises fresh issue of shares worth Rs 225 crore and an offer of sale (OFS) worth Rs275 crore by existing promoters and shareholders.

Bank stocks: Armed with Supreme Court order, banks may invoke personal guarantees of tycoons ranging from Venugopal Dhoot to Kapil Wadhawan to recover unpaid loans from their delinquent firms, sources said Monday. According to an estimate, top 10 personal guarantors have guaranteed debt of over Rs 1.6 lakh crore.