Business News Headlines
Economic Times
Ø TotalEnergies to acquire 25% interest in Adani New Industries to create world's largest green hydrogen ecosystem
Ø CCI approves BC Asia Investments' stake acquisition in IIFL Wealth Management
Ø Zerodha founder Nithin Kamath’s next mission: Consolidate dad’s portfolio
Ø Capital Small Finance Bank pays Rs 5.8 lakh to settle case with Sebi
Ø PNB Housing Finance to raise up to Rs 2,000 cr via bonds
Ø Bajaj Auto defers share buyback; Shekhar Bajaj steps down
Ø Irdai reduces solvency margin requirement for crop business; to unlock Rs 1,400 crore funds
Ø Industry tailwinds, deal pipeline to help Route Mobile achieve 40% growth in FY23: CEO
Ø RBI imposes monetary penalty on Urban Co-operative Bank, Budaun
Ø Asset quality worries completely unfounded: RBL Bank
Ø Embassy REIT distributes over Rs 5,800 crore to unitholders since listing
Ø NTPC to begin commercial operations of 15 MW solar capacity at Kawas Solar Project from midnight
Business Standard
Ø Tesla India policy exec quits after company puts entry plan on hold: Report
Ø WPI inflation in May accelerates to 15.88% on higher food prices
Ø LIC increases stake in Capri Global Capital, Hero MotoCorp and HUL
Ø Fitch sees another 100 bps policy rate hike by Dec, cites rising inflation
Ø Lots of interest in Metropolis, but we want a strategic fit: MD Ameera Shah
Ø IIFL Home Fin eyes IPO; looks to raise Rs 5,000 cr via direct assignment
Ø Ahmedabad-based Nandan Terry scraps IPO plans; withdraws draft papers
Ø Tata Steel unveils 7 mn pound green investment plan for UK steel tube mill
Ø BCCI walks away with Rs 48,390 cr in three-day IPL auction for media rights
Ø Refrigerator import ban, volume recovery can helfp Whirlpool stay cool
Financial Express
Ø Airlines to pay up to Rs 20,000 if denied boarding: DGCA
Ø Coinbase to reduce workforce by 18% as cryptocurrencies crash
Ø New tea marketing trends disrupt auction centre operations
Ø Drone segment gets off to a flying start in India
Ø IDBI Bank raises interest rates on retail term deposits by up to 25 bps
Ø Schneider Electric revamps IT partner programme for SME partners to hone skills, co-develop solutions, more
Ø Bank stocks attractive, says HDFC MF’s Prashant Jain; finds D-Street valuations reasonable now
Ø Capital Small Finance Bank pays Rs 5.8 lakh to settle case with Sebi
Ø Bajaj Chetak EV Clocks 14,000 Unit Sales: 16,000 Bookings In The Pipeline
Economic Times
Ø TotalEnergies to acquire 25% interest in Adani New Industries to create world's largest green hydrogen ecosystem
Ø CCI approves BC Asia Investments' stake acquisition in IIFL Wealth Management
Ø Zerodha founder Nithin Kamath’s next mission: Consolidate dad’s portfolio
Ø Capital Small Finance Bank pays Rs 5.8 lakh to settle case with Sebi
Ø PNB Housing Finance to raise up to Rs 2,000 cr via bonds
Ø Bajaj Auto defers share buyback; Shekhar Bajaj steps down
Ø Irdai reduces solvency margin requirement for crop business; to unlock Rs 1,400 crore funds
Ø Industry tailwinds, deal pipeline to help Route Mobile achieve 40% growth in FY23: CEO
Ø RBI imposes monetary penalty on Urban Co-operative Bank, Budaun
Ø Asset quality worries completely unfounded: RBL Bank
Ø Embassy REIT distributes over Rs 5,800 crore to unitholders since listing
Ø NTPC to begin commercial operations of 15 MW solar capacity at Kawas Solar Project from midnight
Business Standard
Ø Tesla India policy exec quits after company puts entry plan on hold: Report
Ø WPI inflation in May accelerates to 15.88% on higher food prices
Ø LIC increases stake in Capri Global Capital, Hero MotoCorp and HUL
Ø Fitch sees another 100 bps policy rate hike by Dec, cites rising inflation
Ø Lots of interest in Metropolis, but we want a strategic fit: MD Ameera Shah
Ø IIFL Home Fin eyes IPO; looks to raise Rs 5,000 cr via direct assignment
Ø Ahmedabad-based Nandan Terry scraps IPO plans; withdraws draft papers
Ø Tata Steel unveils 7 mn pound green investment plan for UK steel tube mill
Ø BCCI walks away with Rs 48,390 cr in three-day IPL auction for media rights
Ø Refrigerator import ban, volume recovery can helfp Whirlpool stay cool
Financial Express
Ø Airlines to pay up to Rs 20,000 if denied boarding: DGCA
Ø Coinbase to reduce workforce by 18% as cryptocurrencies crash
Ø New tea marketing trends disrupt auction centre operations
Ø Drone segment gets off to a flying start in India
Ø IDBI Bank raises interest rates on retail term deposits by up to 25 bps
Ø Schneider Electric revamps IT partner programme for SME partners to hone skills, co-develop solutions, more
Ø Bank stocks attractive, says HDFC MF’s Prashant Jain; finds D-Street valuations reasonable now
Ø Capital Small Finance Bank pays Rs 5.8 lakh to settle case with Sebi
Ø Bajaj Chetak EV Clocks 14,000 Unit Sales: 16,000 Bookings In The Pipeline
Stocks in News post Market Hours :
1)ASIAN PAINTS LIMITED : Company has subscribed to 51% of the equity share capital of Weatherseal Fenestration comprising of 10,409 equity shares of Rs. 10 each at a premium of Rs. 18,091 per share, issued on preferential basis for an aggregate cash consideration of Rs. 18,84,13,309
2)NLC IndiaLtd, Engineers India : NLCIL appoints Engineers India Ltd as Project Management Consultant for Methanol Project
3)GPT Infraprojects Limited : Company has incorporated a new subsidiary at Republic of Ghana for manufacture of concrete sleepers.
4)G R Infraprojects Ltd : GR BANDIKUI JAIPUR EXPRESSWAY PRIVATE LIMITED" wholly owned subsidiary of the Company has executed the concession agreement with the National Highways Authority of India on 14th June 2022
5)SUKHJIT STARCH & CHEMICALS LTD : Company has successfully commissioned Hydrogen Generating Plant from Biogas produced from biomass/ process effluent at its new manufacturing unit commissioned at Phagwara (Punjab)
6)Inda National Ltd : subsidiary Kineco Ltd's -Patent for "Eccentric Assembly for Sliding Door", invented by its Rail Divisions' in house R&D team
7)Sigachi Industries Limited : Company has incorporated a wholly owned subsidiary in Dubai, UAE, under the name of “SIGACHI MENA FZCO” as a Free Zone Company in compliance with the regulations issued by the Dubai Integrated Economic Zones Authority (DIEZA)
8)Pacheli Industrial Finance : Board meeting On June 18 to approve the following:
I. To consider Right Issue and raise funds for expansion.
2.To consider acquiring purpose
and Epand In hosphality business.
9)Tarson Products Limited : Company has entered into a Memorandum of Understanding (MOU) dated 14th June, 2022, with Board of Radiation & Isotope Technology, Government of India (BRIT) in relation to setting up of Gamma Radiation Processing Plant of the Company at Amta, Howrah, West Bengal for captive consumption purpose
10)Shriram City Union Finance Limited : approved the issue of Secured Rated Listed Redeemable Principal Protected Market Linked Non-Convertible Debentures (PP-MLD) of face value of % 10,00,000/- each for an amount of Rs 50 crores(“Base Issue size”)with green shoe option upto Rs 250crores agercgating up to 3000 PP-MLDs amounting to Rs 3,00,00,00,00/-as one or more issuances, in one or more tranches either as fully paid up or partly paid-up on private placement basis
11)Moneyboxx : MoneyBoxx Finance advances its financial inclusion drive by expanding in Haryana
12)Wipro to quadruple the number of employees in Norway
With increased local investment, Wipro is positioning itself as a core part of the business eco-system in Norway
13)Cipla : Cipla and DNDi launch child-friendly 4-in-1 antiretroviral treatment for young children living with HIV in South Africa
14)DEV INFORMATION TECHNOLOGY LTD : DEV IT bags order worth Rs. 2.52 crore for Online Integrated Portal for Farmers (RajKisan Saathi) comprising of services related to agriculture, horticulture, seed certification, seed corporation, and agriculture marketing.
15)Arihant Superstructures Limited: approved allotment of 10,00,000 (Ten Lacs) Senior, Secured, Unrated, Unlisted, Redeemable, Non-convertible Debentures (NCDs) to Indian Real Estate Investment Fund totally aggregating to Rs. 10,00,00,000/ - (Rupees Ten Crores Only) having Face Value of Rs. 100 (Rupees Hundred Only) each on Private Placement basis
16)Praveg Communications : the Company has received a Letter of Award (“LoA”) dated June 13, 2022 from Tourism Corporation of Gujarat Limited (TCGL) for “Development of Site at Adalaj, Gandhinagar, Gujarat as a Themed Destination”
17LIC: The company’s stake in Hero MotoCorp has increased from 9.163% to 11.256%. It has also increased its stake in Hindustan Unilever to 5.008%.
18)NTPC: The company has started commercial operations for 15 MW out of 56 MW Kawas Solar PV Project at Kawas, Gujarat, taking its total operational capacity to 54,666.68 MW.
1)ASIAN PAINTS LIMITED : Company has subscribed to 51% of the equity share capital of Weatherseal Fenestration comprising of 10,409 equity shares of Rs. 10 each at a premium of Rs. 18,091 per share, issued on preferential basis for an aggregate cash consideration of Rs. 18,84,13,309
2)NLC IndiaLtd, Engineers India : NLCIL appoints Engineers India Ltd as Project Management Consultant for Methanol Project
3)GPT Infraprojects Limited : Company has incorporated a new subsidiary at Republic of Ghana for manufacture of concrete sleepers.
4)G R Infraprojects Ltd : GR BANDIKUI JAIPUR EXPRESSWAY PRIVATE LIMITED" wholly owned subsidiary of the Company has executed the concession agreement with the National Highways Authority of India on 14th June 2022
5)SUKHJIT STARCH & CHEMICALS LTD : Company has successfully commissioned Hydrogen Generating Plant from Biogas produced from biomass/ process effluent at its new manufacturing unit commissioned at Phagwara (Punjab)
6)Inda National Ltd : subsidiary Kineco Ltd's -Patent for "Eccentric Assembly for Sliding Door", invented by its Rail Divisions' in house R&D team
7)Sigachi Industries Limited : Company has incorporated a wholly owned subsidiary in Dubai, UAE, under the name of “SIGACHI MENA FZCO” as a Free Zone Company in compliance with the regulations issued by the Dubai Integrated Economic Zones Authority (DIEZA)
8)Pacheli Industrial Finance : Board meeting On June 18 to approve the following:
I. To consider Right Issue and raise funds for expansion.
2.To consider acquiring purpose
and Epand In hosphality business.
9)Tarson Products Limited : Company has entered into a Memorandum of Understanding (MOU) dated 14th June, 2022, with Board of Radiation & Isotope Technology, Government of India (BRIT) in relation to setting up of Gamma Radiation Processing Plant of the Company at Amta, Howrah, West Bengal for captive consumption purpose
10)Shriram City Union Finance Limited : approved the issue of Secured Rated Listed Redeemable Principal Protected Market Linked Non-Convertible Debentures (PP-MLD) of face value of % 10,00,000/- each for an amount of Rs 50 crores(“Base Issue size”)with green shoe option upto Rs 250crores agercgating up to 3000 PP-MLDs amounting to Rs 3,00,00,00,00/-as one or more issuances, in one or more tranches either as fully paid up or partly paid-up on private placement basis
11)Moneyboxx : MoneyBoxx Finance advances its financial inclusion drive by expanding in Haryana
12)Wipro to quadruple the number of employees in Norway
With increased local investment, Wipro is positioning itself as a core part of the business eco-system in Norway
13)Cipla : Cipla and DNDi launch child-friendly 4-in-1 antiretroviral treatment for young children living with HIV in South Africa
14)DEV INFORMATION TECHNOLOGY LTD : DEV IT bags order worth Rs. 2.52 crore for Online Integrated Portal for Farmers (RajKisan Saathi) comprising of services related to agriculture, horticulture, seed certification, seed corporation, and agriculture marketing.
15)Arihant Superstructures Limited: approved allotment of 10,00,000 (Ten Lacs) Senior, Secured, Unrated, Unlisted, Redeemable, Non-convertible Debentures (NCDs) to Indian Real Estate Investment Fund totally aggregating to Rs. 10,00,00,000/ - (Rupees Ten Crores Only) having Face Value of Rs. 100 (Rupees Hundred Only) each on Private Placement basis
16)Praveg Communications : the Company has received a Letter of Award (“LoA”) dated June 13, 2022 from Tourism Corporation of Gujarat Limited (TCGL) for “Development of Site at Adalaj, Gandhinagar, Gujarat as a Themed Destination”
17LIC: The company’s stake in Hero MotoCorp has increased from 9.163% to 11.256%. It has also increased its stake in Hindustan Unilever to 5.008%.
18)NTPC: The company has started commercial operations for 15 MW out of 56 MW Kawas Solar PV Project at Kawas, Gujarat, taking its total operational capacity to 54,666.68 MW.
CABINET APPROVES AUCTION OF IMT/5G SPECTRUM. 5G SERVICES TO BE ROLLED OUT SOON – ABOUT 10 TIMES FASTER THAN 4G. OVER 72 GHZ OF SPECTRUM TO BE AUCTIONED FOR A PERIOD OF 20 YEARS.
#BREAKINGNEWS
FED EVENT WOULD BE DISCOUNTED SOON BY MARKETS AND SUCH +VE DEVELOPMENTS COULD HELP STABILIZE AND RESTORE CERTAINTY.
#BREAKINGNEWS
FED EVENT WOULD BE DISCOUNTED SOON BY MARKETS AND SUCH +VE DEVELOPMENTS COULD HELP STABILIZE AND RESTORE CERTAINTY.
*🔹INSTL. INVESTORS EQUITY DERIVAT. TRADES AS ON : 15-06-2022 :*
*FIIS F & O : RS. CRS. :*
*TOTAL NET BUY : +1951* 😄
*INDEX FUT. : +11*
*INDEX OPT. : +2502*
*STOCK FUT. : -630*
*STOCK OPT. : +68*
*🔹INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 15-JUN-22 : (Rs. CRS )*
*FIIS : SELL -3,531 (3,943-7,474)* 😢
*DIIS : BUY +2,588 (5,417-2,829)* 😄
*BSE SENSEX : -152 (52,541)🔽*
*NSE NIFTY : -40 (15,692)🔽*
*BSE MIDCAP. : +114 (21,955)*🔼
*BSE SMLCAP. : +123 (25,066)*🔼
*B. CRUDE : $ 120.63* 🔽 😄😄
*GOLD: $1830=INR 51570(10gr)*🔼🙂
*SILVER :* *RS. 60,350 (kg) (5pm) ↔️ 😳*
*FOREX : RS. : $ 78.0650* 🔽 😔
*6.54% GOI '32 : 7.5921% (92.9175)* 🔼 😔
*5.74% GOI '26 : 7.3140% (94.1450)* 🔼 😔
*6.67% GOI '35 : 7.7173% (91.3125)* ↔️ 😔
*FIIS F & O : RS. CRS. :*
*TOTAL NET BUY : +1951* 😄
*INDEX FUT. : +11*
*INDEX OPT. : +2502*
*STOCK FUT. : -630*
*STOCK OPT. : +68*
*🔹INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 15-JUN-22 : (Rs. CRS )*
*FIIS : SELL -3,531 (3,943-7,474)* 😢
*DIIS : BUY +2,588 (5,417-2,829)* 😄
*BSE SENSEX : -152 (52,541)🔽*
*NSE NIFTY : -40 (15,692)🔽*
*BSE MIDCAP. : +114 (21,955)*🔼
*BSE SMLCAP. : +123 (25,066)*🔼
*B. CRUDE : $ 120.63* 🔽 😄😄
*GOLD: $1830=INR 51570(10gr)*🔼🙂
*SILVER :* *RS. 60,350 (kg) (5pm) ↔️ 😳*
*FOREX : RS. : $ 78.0650* 🔽 😔
*6.54% GOI '32 : 7.5921% (92.9175)* 🔼 😔
*5.74% GOI '26 : 7.3140% (94.1450)* 🔼 😔
*6.67% GOI '35 : 7.7173% (91.3125)* ↔️ 😔
Govt cuts gold base import price to $585/10 gm from $597/10 gm
Govt cuts silver base import price to $695/kg vs $721/kg @alliesfin
Govt cuts silver base import price to $695/kg vs $721/kg @alliesfin
IPL AUCTION
#AlliesFin
Total Matches: 410
Balls Per Match: 240 (not counting extras)
Total Broadcast Rights: 48390 Cr
Total Balls Bowled: 98400
Each Ball Bowled is worth Rupees 50 Lakh
Per over 300 lakh
And you think India me Mandi hai 😀
#AlliesFin
Total Matches: 410
Balls Per Match: 240 (not counting extras)
Total Broadcast Rights: 48390 Cr
Total Balls Bowled: 98400
Each Ball Bowled is worth Rupees 50 Lakh
Per over 300 lakh
And you think India me Mandi hai 😀
👍1
U.S FED : FED HIKES RATES BY 75 BPS
US 10-YEAR TREASURY YIELDS RISE TO 3.425%, AFTER BRIEFLY DIPPING ON FED STATEMENT
U.S. DOLLAR CURRENCY INDEX RISES AFTER FED DECISION; LAST UP 0.48% AT 105.79
US 10-YEAR TREASURY YIELDS RISE TO 3.425%, AFTER BRIEFLY DIPPING ON FED STATEMENT
U.S. DOLLAR CURRENCY INDEX RISES AFTER FED DECISION; LAST UP 0.48% AT 105.79
Business News Headlines
Economic Times
Ø Powell says Fed could hike rates by 0.75 again in July
Ø NBFC-MFIs gear up to raise equity as growth prospects return
Ø FPIs more bearish on equities than during first Covid jolt
Ø Hero MotoCorp-backed EV maker Ather Energy in talks with state govts to set up third manufacturing plant
Ø Fitch revises rating outlook on 9 banks
Ø India's diesel sales rise 48% in first two weeks of June
Ø Jio-bp to power Zomato's 100% electric vehicle fleet
Ø JSW Steel crude steel production in May jumps 31 per cent
Ø RBI imposes monetary penalty on Urban Co-operative Bank, Budaun
Ø Metropolis is gearing up to serve a larger segment of consumers: Ameera Shah, MD
Ø IPL media rights: BCCI takes home record Rs 48,390 crore
Ø Bullish on Indian market, "absolutely" compliant with local laws: Amazon India senior exec
Business Standard
Ø France's Airbus close to clinching Air India deal for 50 A350 aircraft
Ø Expect telcos to buy spectrum worth Rs 1 trn-Rs 1.1 trn in 5G auction: Icra
Ø Fitch revises outlook on domestic lenders to 'Stable', affirms IDRs
Ø Sugar mills foresee output spike, want 8 mn tonne OGL exports next season
Ø Lots of interest in Metropolis, but we want a strategic fit: MD Ameera Shah
Ø Indian Hotels' Taj ranked world's strongest hotel brand by Brand Finance
Ø Ashok Leyland arm Switch Mobility to raise $300 mn, unveils e-bus platform
Ø Tata Steel unveils 7 mn pound green investment plan for UK steel tube mill
Ø Irdai working group recommends relaxing investment norms for insurers
Ø COAI names Reliance Jio's Pramod Mittal as Chairperson for 2022-23
Financial Express
Ø Viacom18 invests in digital with IPL
Ø PhonePe prepping for IPO, seeks valuation of $8-10 billion
Ø New tea marketing trends disrupt auction centre operations
Ø Yes Bank seeks shareholders’ nod for raising up to Rs 10,000 crore debt capital
Ø Indian Railways to invest Rs 50 crore in startups annually; innovators to retain their IPR
Ø Schneider Electric revamps IT partner programme for SME partners to hone skills, co-develop solutions, more
Ø Bank stocks attractive, says HDFC MF’s Prashant Jain; finds D-Street valuations reasonable now
Ø Capital Small Finance Bank pays Rs 5.8 lakh to settle case with Sebi
Ø Realtors worry more about input price increase than interest rates
Economic Times
Ø Powell says Fed could hike rates by 0.75 again in July
Ø NBFC-MFIs gear up to raise equity as growth prospects return
Ø FPIs more bearish on equities than during first Covid jolt
Ø Hero MotoCorp-backed EV maker Ather Energy in talks with state govts to set up third manufacturing plant
Ø Fitch revises rating outlook on 9 banks
Ø India's diesel sales rise 48% in first two weeks of June
Ø Jio-bp to power Zomato's 100% electric vehicle fleet
Ø JSW Steel crude steel production in May jumps 31 per cent
Ø RBI imposes monetary penalty on Urban Co-operative Bank, Budaun
Ø Metropolis is gearing up to serve a larger segment of consumers: Ameera Shah, MD
Ø IPL media rights: BCCI takes home record Rs 48,390 crore
Ø Bullish on Indian market, "absolutely" compliant with local laws: Amazon India senior exec
Business Standard
Ø France's Airbus close to clinching Air India deal for 50 A350 aircraft
Ø Expect telcos to buy spectrum worth Rs 1 trn-Rs 1.1 trn in 5G auction: Icra
Ø Fitch revises outlook on domestic lenders to 'Stable', affirms IDRs
Ø Sugar mills foresee output spike, want 8 mn tonne OGL exports next season
Ø Lots of interest in Metropolis, but we want a strategic fit: MD Ameera Shah
Ø Indian Hotels' Taj ranked world's strongest hotel brand by Brand Finance
Ø Ashok Leyland arm Switch Mobility to raise $300 mn, unveils e-bus platform
Ø Tata Steel unveils 7 mn pound green investment plan for UK steel tube mill
Ø Irdai working group recommends relaxing investment norms for insurers
Ø COAI names Reliance Jio's Pramod Mittal as Chairperson for 2022-23
Financial Express
Ø Viacom18 invests in digital with IPL
Ø PhonePe prepping for IPO, seeks valuation of $8-10 billion
Ø New tea marketing trends disrupt auction centre operations
Ø Yes Bank seeks shareholders’ nod for raising up to Rs 10,000 crore debt capital
Ø Indian Railways to invest Rs 50 crore in startups annually; innovators to retain their IPR
Ø Schneider Electric revamps IT partner programme for SME partners to hone skills, co-develop solutions, more
Ø Bank stocks attractive, says HDFC MF’s Prashant Jain; finds D-Street valuations reasonable now
Ø Capital Small Finance Bank pays Rs 5.8 lakh to settle case with Sebi
Ø Realtors worry more about input price increase than interest rates
🌹India Daybook – Stocks in News
Jyothy Labs: Nalanda India Equity Fund bought 6.55 lakh equity shares in the company via open market transactions (Positive)
Voltamp Transformers: HDFC Mutual Fund through its several funds acquired 50,000 equity shares in the company (Positive)
NBCC: The company has secured total business of Rs 330.35 crore during May 2022. (Positive)
Tata Power: Says Tata Power Solar commissions 66mw EPC project for vibrant energy (Positive)
ONGC: Fitch Ratings revises company’'s rating outlook to stable from negative (Positive)
Axis Bank: Fitch Ratings revises bank’'s rating outlook to stable from negative on the Long-Term Issuer Default Ratings of the Bank. (Positive)
*Rama Steel Tubes: Nomura Singapore bought one lakh equity shares in the company via open market transactions (Positive)
KBC Global: E Waste Recycling acquired 1.3 crore shares, Wealth 4 U Hospitality Consultancy bought 1.32 crore shares (Positive)
UPL: UPL through its subsidiary USCL has acquired Kudos Chemie for Rs 40 crore. (Neutral)
Indian Overseas Bank: The public sector lender said the board has approved the capital plan for FY23. (Neutral)
Reliance Industries: Jio-BP in pact to provide EV mobility services to Zomato (Neutral)
State Bank of India: Raises minimum home loan interest rate to 7.55% from June 15 (Neutral)
Usha Martin: Promoter entities Peterhouse Investments Ltd and PACs have sold 63,000 equity shares in the company.
Jyothy Labs: Nalanda India Equity Fund bought 6.55 lakh equity shares in the company via open market transactions (Positive)
Voltamp Transformers: HDFC Mutual Fund through its several funds acquired 50,000 equity shares in the company (Positive)
NBCC: The company has secured total business of Rs 330.35 crore during May 2022. (Positive)
Tata Power: Says Tata Power Solar commissions 66mw EPC project for vibrant energy (Positive)
ONGC: Fitch Ratings revises company’'s rating outlook to stable from negative (Positive)
Axis Bank: Fitch Ratings revises bank’'s rating outlook to stable from negative on the Long-Term Issuer Default Ratings of the Bank. (Positive)
*Rama Steel Tubes: Nomura Singapore bought one lakh equity shares in the company via open market transactions (Positive)
KBC Global: E Waste Recycling acquired 1.3 crore shares, Wealth 4 U Hospitality Consultancy bought 1.32 crore shares (Positive)
UPL: UPL through its subsidiary USCL has acquired Kudos Chemie for Rs 40 crore. (Neutral)
Indian Overseas Bank: The public sector lender said the board has approved the capital plan for FY23. (Neutral)
Reliance Industries: Jio-BP in pact to provide EV mobility services to Zomato (Neutral)
State Bank of India: Raises minimum home loan interest rate to 7.55% from June 15 (Neutral)
Usha Martin: Promoter entities Peterhouse Investments Ltd and PACs have sold 63,000 equity shares in the company.
Market Update - 16th June 2022
Global Market
Stocks and bonds in Asia gained after U.S. Federal Reserve raised rates by 75bps, but indicated that rate hikes of similar magnitude will be unlikely, going forward.
Equities in Japan, South Korea and Australia advanced after U.S. markets snapped a five-day, 10% rout in the S&P 500. US contracts climbed almost 1%
Bonds in Australia and New Zealand rose. A dollar gauge and the yen slipped, while risk-sensitive currencies like Australia’s dollar advanced. As of 6:30 am, the Singapore-traded SGX Nifty--an early barometer of India's benchmark Nifty 50--was 0.84% higher at 15,802 points.
Cryptocurrencies staged a recovery while crude oil pushed higher and gold held a rally.
Indian ADR Check
· ICICI Bank +1.83%
· HDFC Bank +0.28%
· Tata Motors +3.16%
· WIPRO -0.53%
· Infosys +0.27%
· Dr Reddy's +1.48%
Stocks To Watch
UPL: National Company Law Tribunal approved the company’s resolution plan for revival of Kudos Chemie. Company’s newly incorporated wholly owned subsidiary UPL Speciality Chemicals has acquired Kudos Chemie for Rs 40 crore.
SBI: The bank increased minimum interest rate for home loan to 7.55%.
Zomato: Jio-bp will provide EV mobility services to Zomato along with access to ‘Jio-bp pulse’s battery swapping stations.
Tata Steel: Wholly owned subsidiary of the company, Tata Steel Mining has acquired 10% stake in equity stake in Rohit Ferro-Tech for Rs 20.06 crore. RFT will become a wholly owned subsidiary of TSML. Tata Steel invested the same amount in TSML through rights basis.
Equitas Small Finance Bank: RBI approved Managing Director and Chief Executive Officer Vasudevan PN’s reappointment for a year effective from July 23.
NBCC: The company secured total business of Rs 330.35 crore during the month of May.
Indian Overseas Bank: The bank approved issue of equity shares of Rs 1,000 crore via Follow on Public Offer/Rights Issue with or without participation from government of India/issue of equity shares to Qualified Institutional Buyers/issue of shares to employees/issue of shares on preferential basis to LIC and other insurance companies/mutual funds. It also approved raising Tier II capital upto Rs 1,000 Crore.
Pledged Shares Details
Chambal Fertilisers & Chemicals: Promoter Zuari Global created a pledge of 10 lakh shares on June 13.
GATI: Promoter Mahendra Kumar Agarwal invoked a pledge of 1.2 lakh shares on June 13.
Insider Trades
Mukand: Promoter Group Bachhraj Factories bought 13,473 shares between June 9 and June 14.
Confidence Petroleum India: Promoter Group Essenn LPG Bottling bought 1 lakh shares on June 13.
KEC International: Promoter Group Summit Securities bought 4,000 shares on June 13. Promoter Group Instant Holdings bought 13,776 shares between June 13 and June 14.
Jagran Prakashan: Promoter & Director Dhirendra Mohan Gupta bought 8,000 shares on June 13.
Block Deals
NXTDigital: Hinduja Reality Ventures bought 8.13 lakh (2.41%) shares at Rs 357.25 apiece. Aasia Exports sold 8.13 lakh (2.41%) shares at Rs 357.25 apiece.
Trading Tweaks
Record Date Dividend: Canara Bank, Newgen Software Technologies, KEC International
Record Date Annual General Meeting: Newgen Software Technologies
Ex-Date Dividend: Cigniti Technologies, Apollo Tyres, Xpro India, Galactico Corporate Services
Ex-Date Annual General Meeting: UCO Bank, Cigniti Technologies, Apollo Tyres, Xpro India
Ex-Date Bonus: Cosmo Films
Move Out Of ASM-Framework: Elecon Engineering Company, Mangalore Chemicals & Fertilizers, Monte Carlo Fashions
Money Market Update
The rupee ended at Rs 78.07 against the U.S. Dollar on Wednesday as compared to Tuesday's closing of 77.99
F&O Cues
Nifty June futures ended at 15,701 a premium of 8.85 points.
Nifty June futures shed 1.98% and 4,250 shares in Open Interest.
Nifty Bank June futures ended at 33,400, a premium of 61 points.
Nifty Bank June futures shed 4.14% and 4,508 shares in Open Interest.
Global Market
Stocks and bonds in Asia gained after U.S. Federal Reserve raised rates by 75bps, but indicated that rate hikes of similar magnitude will be unlikely, going forward.
Equities in Japan, South Korea and Australia advanced after U.S. markets snapped a five-day, 10% rout in the S&P 500. US contracts climbed almost 1%
Bonds in Australia and New Zealand rose. A dollar gauge and the yen slipped, while risk-sensitive currencies like Australia’s dollar advanced. As of 6:30 am, the Singapore-traded SGX Nifty--an early barometer of India's benchmark Nifty 50--was 0.84% higher at 15,802 points.
Cryptocurrencies staged a recovery while crude oil pushed higher and gold held a rally.
Indian ADR Check
· ICICI Bank +1.83%
· HDFC Bank +0.28%
· Tata Motors +3.16%
· WIPRO -0.53%
· Infosys +0.27%
· Dr Reddy's +1.48%
Stocks To Watch
UPL: National Company Law Tribunal approved the company’s resolution plan for revival of Kudos Chemie. Company’s newly incorporated wholly owned subsidiary UPL Speciality Chemicals has acquired Kudos Chemie for Rs 40 crore.
SBI: The bank increased minimum interest rate for home loan to 7.55%.
Zomato: Jio-bp will provide EV mobility services to Zomato along with access to ‘Jio-bp pulse’s battery swapping stations.
Tata Steel: Wholly owned subsidiary of the company, Tata Steel Mining has acquired 10% stake in equity stake in Rohit Ferro-Tech for Rs 20.06 crore. RFT will become a wholly owned subsidiary of TSML. Tata Steel invested the same amount in TSML through rights basis.
Equitas Small Finance Bank: RBI approved Managing Director and Chief Executive Officer Vasudevan PN’s reappointment for a year effective from July 23.
NBCC: The company secured total business of Rs 330.35 crore during the month of May.
Indian Overseas Bank: The bank approved issue of equity shares of Rs 1,000 crore via Follow on Public Offer/Rights Issue with or without participation from government of India/issue of equity shares to Qualified Institutional Buyers/issue of shares to employees/issue of shares on preferential basis to LIC and other insurance companies/mutual funds. It also approved raising Tier II capital upto Rs 1,000 Crore.
Pledged Shares Details
Chambal Fertilisers & Chemicals: Promoter Zuari Global created a pledge of 10 lakh shares on June 13.
GATI: Promoter Mahendra Kumar Agarwal invoked a pledge of 1.2 lakh shares on June 13.
Insider Trades
Mukand: Promoter Group Bachhraj Factories bought 13,473 shares between June 9 and June 14.
Confidence Petroleum India: Promoter Group Essenn LPG Bottling bought 1 lakh shares on June 13.
KEC International: Promoter Group Summit Securities bought 4,000 shares on June 13. Promoter Group Instant Holdings bought 13,776 shares between June 13 and June 14.
Jagran Prakashan: Promoter & Director Dhirendra Mohan Gupta bought 8,000 shares on June 13.
Block Deals
NXTDigital: Hinduja Reality Ventures bought 8.13 lakh (2.41%) shares at Rs 357.25 apiece. Aasia Exports sold 8.13 lakh (2.41%) shares at Rs 357.25 apiece.
Trading Tweaks
Record Date Dividend: Canara Bank, Newgen Software Technologies, KEC International
Record Date Annual General Meeting: Newgen Software Technologies
Ex-Date Dividend: Cigniti Technologies, Apollo Tyres, Xpro India, Galactico Corporate Services
Ex-Date Annual General Meeting: UCO Bank, Cigniti Technologies, Apollo Tyres, Xpro India
Ex-Date Bonus: Cosmo Films
Move Out Of ASM-Framework: Elecon Engineering Company, Mangalore Chemicals & Fertilizers, Monte Carlo Fashions
Money Market Update
The rupee ended at Rs 78.07 against the U.S. Dollar on Wednesday as compared to Tuesday's closing of 77.99
F&O Cues
Nifty June futures ended at 15,701 a premium of 8.85 points.
Nifty June futures shed 1.98% and 4,250 shares in Open Interest.
Nifty Bank June futures ended at 33,400, a premium of 61 points.
Nifty Bank June futures shed 4.14% and 4,508 shares in Open Interest.
Securities in the ban list: Delta Corp, RBL Bank, Indiabulls Housing Finance.
Source: Bloomberg Quint
Source: Bloomberg Quint
"Decline in stocks is not a surprising event. It recurs. If you live in cold climate, you expect freezing temperatures and when it drops below zero you don't think of this as the next ice age. You know summer will be warm again. Stocks do the same." - Peter Lynch
*Instl. Investors EQUITY Cash Trades PROV. - 16/06/2022 : Rs. CRS. :*
*FIIS : SELL -3,257 (4,574-7,831)*
*DIIS : BUY +1,929 (6,604-4,675)*
*FIIS : SELL -3,257 (4,574-7,831)*
*DIIS : BUY +1,929 (6,604-4,675)*
*Market Update*
SGX Nifty -11 pts
Sgx Nifty 15328 (15339 Nifty Fut Clsd)
Dow -741.46 pts ,Nsdq -453.06 pts, S&P
-123.22 pts , Bovespa Clsd , Ftse -228 pts , Dax -446 pts , Cac -143 pts , Nikkei -581 pts now , Crude @ $116.67 brl (-0.92), Brent @ $118.98 brl (-0.83) , Gold @ 1848.70 (-1.20), Silver @ $21.745 (-0.14), Euro @ $1.0536, JPY @ $133.21, INR @ 77.9486
*Today's Corporate Action*
*17th June Ex Date*
AVANTEL
Bonus issue 3:1
BANKBARODA
Dividend - Rs. - 2.8500
DIAMINESQ
Final Dividend - Rs. - 3.0000
KKALPANAIND
E.G.M.
MOL
Final Dividend - Rs. - 1.4000
MPSLTD
Final Dividend - Rs. - 30.0000
PLASTIBLEN
Dividend - Rs. - 4.0000
*Today's Key Results/Board Meetings*
*17-Jun-22*
AANANDALAK
General
SHESHAINDS
General
STARHFL
General;Preferential Issue of shares
SUPREMEINF
Audited Results;General
SURYVANSP
General
VEGETABLE
General;Preferential Issue of shares
*Stock under F&O ban on NSE*
*17-Jun-22*
1DELTACORP
2IBULHSGFIN
3RBLBANK
SGX Nifty -11 pts
Sgx Nifty 15328 (15339 Nifty Fut Clsd)
Dow -741.46 pts ,Nsdq -453.06 pts, S&P
-123.22 pts , Bovespa Clsd , Ftse -228 pts , Dax -446 pts , Cac -143 pts , Nikkei -581 pts now , Crude @ $116.67 brl (-0.92), Brent @ $118.98 brl (-0.83) , Gold @ 1848.70 (-1.20), Silver @ $21.745 (-0.14), Euro @ $1.0536, JPY @ $133.21, INR @ 77.9486
*Today's Corporate Action*
*17th June Ex Date*
AVANTEL
Bonus issue 3:1
BANKBARODA
Dividend - Rs. - 2.8500
DIAMINESQ
Final Dividend - Rs. - 3.0000
KKALPANAIND
E.G.M.
MOL
Final Dividend - Rs. - 1.4000
MPSLTD
Final Dividend - Rs. - 30.0000
PLASTIBLEN
Dividend - Rs. - 4.0000
*Today's Key Results/Board Meetings*
*17-Jun-22*
AANANDALAK
General
SHESHAINDS
General
STARHFL
General;Preferential Issue of shares
SUPREMEINF
Audited Results;General
SURYVANSP
General
VEGETABLE
General;Preferential Issue of shares
*Stock under F&O ban on NSE*
*17-Jun-22*
1DELTACORP
2IBULHSGFIN
3RBLBANK
Business News Headlines🇮🇳
Economic Times :
Ø Tech Mahindra CFO on top 3 growth drivers and roadmap for Metaverse
Ø Air India plans to procure Airbus A350 aircraft
Ø Sanjiv Mehta on navigating inflation, shrinkflation and how HUL believes in the India story
Ø Burmans acquired 14.3% stake in Eveready Industries via open offer
Ø FPI outflow tops Rs 2 lakh crore, over double of 2018 high
Ø HDFC to sell four large stressed accounts before merger
Ø Majority of Ford India's workers continue protest, some resume duty
Ø Lockdown in China may have an adverse impact on sales outlook in FY23: Tata Motors
Ø RBI imposes monetary penalty on Urban Co-operative Bank, Budaun
Ø PNB stops 0.75 per cent incentive on fuel purchases via digital modes
Ø RBI lifts business restrictions on Mastercard
Ø RBI raises limit of e-mandates for transactions up to Rs 15,000
Business Standard :
Ø At Rs 42,679 crore, advance tax collection up 48% in April-June quarter
Ø India joins global league after allowing private captive telecom networks
Ø Reliance Industries in focus as benchmark refining margin inches up
Ø Jio adds 1.68 mn mobile subscribers in April; Airtel gains 810,000 users
Ø Tata Power to buy coal worth Rs 12,000 cr from Indonesian miner in FY23
Ø 'Sebi acted in haste': Chanda Kochhar gets interim relief from SAT
Ø UBS expects retail flows into equity markets to slow amid rising rates
Ø IRB Infra arm achieves financial closure for Rs 6,538-cr project in UP
Ø Irdai working group recommends relaxing investment norms for insurers
Ø Indian private equity investments reach $70 bn in 2,000 deals in 2021
Financial Express :
Ø PhonePe says not planning IPO right now
Ø ATF prices hiked by 16%; touch new record
Ø MF unitholders will have choice of providing nomination or opting out
Ø First tranche of 2022-23 gold bonds to open for subscription on Jun 20
Ø Indian Railways to invest Rs 50 crore in startups annually; innovators to retain their IPR
Ø Icra revises outlook on steel sector to stable from positive
Ø Bank stocks attractive, says HDFC MF’s Prashant Jain; finds D-Street valuations reasonable now
Ø Canara Bank, HSBC see growth potential in life insurance JV
Ø Realtors worry more about input price increase than interest rates
Economic Times :
Ø Tech Mahindra CFO on top 3 growth drivers and roadmap for Metaverse
Ø Air India plans to procure Airbus A350 aircraft
Ø Sanjiv Mehta on navigating inflation, shrinkflation and how HUL believes in the India story
Ø Burmans acquired 14.3% stake in Eveready Industries via open offer
Ø FPI outflow tops Rs 2 lakh crore, over double of 2018 high
Ø HDFC to sell four large stressed accounts before merger
Ø Majority of Ford India's workers continue protest, some resume duty
Ø Lockdown in China may have an adverse impact on sales outlook in FY23: Tata Motors
Ø RBI imposes monetary penalty on Urban Co-operative Bank, Budaun
Ø PNB stops 0.75 per cent incentive on fuel purchases via digital modes
Ø RBI lifts business restrictions on Mastercard
Ø RBI raises limit of e-mandates for transactions up to Rs 15,000
Business Standard :
Ø At Rs 42,679 crore, advance tax collection up 48% in April-June quarter
Ø India joins global league after allowing private captive telecom networks
Ø Reliance Industries in focus as benchmark refining margin inches up
Ø Jio adds 1.68 mn mobile subscribers in April; Airtel gains 810,000 users
Ø Tata Power to buy coal worth Rs 12,000 cr from Indonesian miner in FY23
Ø 'Sebi acted in haste': Chanda Kochhar gets interim relief from SAT
Ø UBS expects retail flows into equity markets to slow amid rising rates
Ø IRB Infra arm achieves financial closure for Rs 6,538-cr project in UP
Ø Irdai working group recommends relaxing investment norms for insurers
Ø Indian private equity investments reach $70 bn in 2,000 deals in 2021
Financial Express :
Ø PhonePe says not planning IPO right now
Ø ATF prices hiked by 16%; touch new record
Ø MF unitholders will have choice of providing nomination or opting out
Ø First tranche of 2022-23 gold bonds to open for subscription on Jun 20
Ø Indian Railways to invest Rs 50 crore in startups annually; innovators to retain their IPR
Ø Icra revises outlook on steel sector to stable from positive
Ø Bank stocks attractive, says HDFC MF’s Prashant Jain; finds D-Street valuations reasonable now
Ø Canara Bank, HSBC see growth potential in life insurance JV
Ø Realtors worry more about input price increase than interest rates