*INSTL. INVESTORS EQUITY DERIVAT. TRADES AS ON : 27-06-2023 :*

*FIIS F & O : RS. CRS. :*

*TOTAL NET BUY : +2814* 😄

*INDEX FUT. : +2860*

*INDEX OPT. : -2055*

*STOCK FUT. : +1328*

*STOCK OPT. : +681*

*INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 27-JUN-2023 :*

*FIIS : BUY +2,024 (10,452-8,428)* 😄

*DIIS : SELL -1,991 (6,784-8,775)* 😢

*BSE SENSEX : +446 (63,416)🔼*

*NSE NIFTY : +126 (18,817)*🔼

*BSE MIDCAP. : +108 (28,376)*🔼

*BSE SMLCAP. : +195 (32,412)*🔼

*B. CRUDE : $ 73.70* 🔽 😊

*GOLD: $1915=INR 58,170(10gr)* 🔽 😔

*SILVER : RS. 71,800 (kg) (5pm)* 🔼 🙂

*FOREX : RS. $ 82.03* ↔️ 😔

*7.26% GOI '33: 7.0611%(101.36)*🔽🙂

*7.26% GOI '32 : 7.0985%(101.06)* 🔽🙂

*7.41% GOI '36 : 7.1722% (102.03)*🔽🙂

Naya Bharat in Breathless way 👏
Link to share video https://telegram.me/AlliesFin/13175

Come July 3rd instead of SGX Nifty now GIFT Nifty will be an early indicator of Indian market opening!!!

Gift Nifty is NSE's IFSC-SGX Connect Nifty Index

SGX Nifty will start trading on NSE IFSC on July 3rd as GIFT NIFTY

What is NSE IFSC
-NSE IFSC Limited is NSE International Exchange in GIFT City in Gujarat
-It is fully owned subsidiary of NSE
-Contracts traded on this exchange are dollar denominated.

Timings-2 sessions
-Morning-6.30am to 3.40pm
-Evening- 4.35pm to 2.45am


What happens to existing OI of SGX Nifty?
-Entire OI shifts to Gift Nifty
-SGX Nifty OI is $7 billion with daily volumes around $1.5-2 billion

Contracts for Trading
-Nifty, Bank Nifty, Nifty IT and Financial Services derivative contracts will be available for trading
-Trading will be available for both Futures & Options

GIFT City Benefits
-It is a SEZ so attracts some exemptions.
-Exemptions from security transaction tax, commodity transaction tax, dividend distribution tax, capital gain tax waivers and no income tax. Source: NSEIX.Com

Benefits
-Will do away with the time edge FIIs had trading on SGX before Indian markets opened.
-Retail Investors/DIIs now can hedge themselves by taking position with IFSC registered broker.

*SGX Nifty +50 pts (18865) from last trade 18815 ,*


Nikkei +175 pts ,
Hangseng -49 pts ,
Around @ 6.52am .


Dow +212.03 pts ,Nsdq +219.90 pts, S&P +49.59 pts , Bovespa -720 pts , Ftse +7 pts , Dax +33 pts , Cac +31 pts , Crude @ $67.95 brl (+0.25), Brent @ $72.26 brl (+0.00) , Gold @ 1924.70 (+0.90), Silver @ $22.895 (-0.06), Euro @ $1.0955, JPY @ $143.89, INR @ 81.985




*Today's Corporate Action*
*28th June Ex Date*


 
ANANTRAJ
Final Dividend - Rs. - 0.5000
BOMOXY-B1
Final Dividend - Rs. - 15.0000
SAGARSOFT
Dividend - Rs. - 2.0000
SPLPETRO
Final Dividend - Rs. - 7.0000
SRSOLTD
Dividend - Rs. - 1.0000
THANGAMAYL
Final Dividend - Rs. - 6.0000
WELSPUNIND
Final Dividend - Rs. - 0.1000



*Today's Board Meetings*
*28-Jun-23*



AMBOAGRI
Audited Results  
BPCL
General    
BRAHMINFRA
General    
BRRL
General    
CANBK
General    
HBLPOWER
General    
LANCORHOL
General    
MANGIND
General    
PRESSURS
General    
PROCLB
General    
REGENCY
General    
SHUKRAPHAR
General    
YASHRAJC
A.G.M.;General




*Stock under F&O ban on NSE*
*28-Jun-23*



1 L&TFH

2 MANAPPURAM

Today's Headlines from :

*Economic Times*

📝 IDFC FIRST Bank raises Rs 1,500 cr in domestic bond markets

📝 Cyient DLM IPO fully subscribed on Day 1; retail portion booked over 4x

📝 RBI in talks with leading global peers to promote digital rupee payments

📝 States borrowing cost rises 4 basis points to 7.41 pc

📝 DRDO releases list of 75 technology-priority areas

📝 Sidbi's net income jumps 71 pc to Rs 3,344 crore in FY23

📝 CreditAccess Grameen signs a $200 million external commercial borrowing deal

📝 BPCL to shut half of Mumbai refinery for a month from Sept 21

📝 Vulcan Steel in talks to raise $2.5 billion for Oman project

📝 AI model startup Reka raises $50 million in funding led by DST Global

📝 EV startup Oben raises Rs 40 crore in extended pre-Series A round

📝 BillionElectric raises $10 million in seed funding, launches e-MaaS platform

*Business Standard*

📝 Centre to renew consultation with firms shortlisted under PLI scheme

📝 India's current account deficit narrows to 0.2% of GDP in Q4 FY23

📝 Transactions on GeM portal cross Rs 50,000 crore in first quarter

📝 CCI issues a show-cause notice to Air India on Vistara merger plan

📝 Centre to sell tur dal from its buffer stock to cool high prices

📝 Net profit of manufacturing and IT sector moderates in 2022-23, shows data

📝 Vedanta-Foxconn JV reapplies for chip manufacturing unit incentives

📝 Swiggy's losses jump 80% YoY and PayU business rev up 31%: Prosus

📝 Gadkari pitches for 15% methanol-blended diesel to reduce logistics cost

📝 CCI approves acquisition of TCNS Clothing by Aditya Birla Fashion

📝 Lendingkart raises Rs 200cr in debt financing from EvolutionX Debt Capital

*Financial Express*

📝 Coal Ministry receives 35 bids under 7th tranche of coal mines auction

📝 Kotak arm invests Rs 450 cr in auto comp maker Viney Corp

📝 Amara Raja Infra bags solar project in Bangladesh worth $130 million

📝 China’s growth to be higher in Q2, projected to hit annual 5% target: Premier Li Qiang

📝 HDFC-HDFC Bank merger to be effective from 1 July; HDFC shares will be delisted on 13 July

📝 Tata Technologies, Gandhar Oil, SBFC Finance get Sebi’s nod to float IPO

*Mint*

📝 SP raises ₹14,300 cr via high-yield debt

📝 Dairy sector to grow at over 6% in 2023-24: govt

📝 SBI to acquire 20 pc stake of SBI Caps in SBI Pension

📝 Govt reworks highway targets for FY24

📝 SEBI notifies ways to achieve minimum public unitholding of 25% in REITs, InvITs

📝 Honda Activa scooter achieves 3 crore sales milestone.

Global bits

✒️Chinese blue chips dipped 0.2%, having bounced on Tuesday as officials talked up the prospects for growth.

✒️Japan's Nikkei outperformed with a rise of 0.7%, aided by the weakness of the yen near 15-yr low.

✒️Nasdaq futures eased 0.4%, dragged by a Wall Street Journal report Washington was considering new restrictions on exports of artificial intelligence chips to China. Shares in Nvidia fell 3% after the bell.

✒️S&P 500 futures dipped 0.2%, though that followed solid gains on Tuesday as U.S. data on housing, durable goods orders and consumer sentiment handily topped expectations.

✒️Futures now imply around a 77% chance of a hike to 5.25-5.5%, and slightly more risk of a further move to 5.5-5.75%, which nudged short-term Treasury yields higher.

✒️Bond yields also moved sharply higher in Europe after a bevy of central bankers sounded hawkish on inflation and warned rates would likely have to stay higher for longer.

✒️The euro responded by climbing to $1.0957 , while surging on the low-yielding yen to a 15-year peak of 157.97 .

✒️The dollar rose to a near eight-month peak of 144.18 yen , before easing back to 143.87 as Japanese officials again protested the weakness in the yen.

✒️Japan's top currency diplomat Masato Kanda on Wednesday warned against further falls in the yen, saying authorities would take an appropriate response if moves became excessive.

✒️Markets are wary in case Japan intervenes to buy the yen as they did last October, when they knocked the dollar down from a top of 151.94 to as low as 144.50 in a matter of hours.

✒️Yet, a rally in the yen looks unlikely while the Bank of Japan maintains its super-easy monetary policy.

✒️In commodities, gold steadied at $1,915 an ounce , after finding support at the recent three-month low of $1,909.99.

✒️Oil prices edged up after data showed a larger-than-expected draw in U.S. crude and gasoline inventories

✒️Australia's consumer inflation slowed to a 13-month low in May, driven by a sharp pullback in fuel, while a measure of core inflation also cooled in a sign interest rates might not have to rise again in July resulting in a slide in AUD.

✒️Pakistan Finance minister seeks full $2.6 bln pending in IMF programme

✒️Australia eyeing bigger budget surplus but warns economy still slowing.

✒️ Data due today:

Australia weighted CPI (May)

China industrial profit (May)

South Korea consumer sentiment index (June)

Source: Reuters

Nifty 19000+ Mark ✅

Sensex 64000+ Mark ✅

Congratulations to all Wealth Creators 💸💸👏👏,

Who kept their faith in Indian Economy & Indian Markets 💐💐

Telegram.me/AlliesFin

Always Remember :
Jo Ghar aaya wo Apna,
Baaki Sab Sapna..😅

STOCK LENDING OFFER
IDFC 1ST BANK RS 1 PER SHARE.

LEND YOUR STOCK AT NSE AND EARN PASSIVE INCOME ON IDLE STOCK. FOR DETAILS 9869958999 😊

Lot size changes.

**Midcap 25 Interval Strikes Introduced**

@AlliesFin

SEBI - CLEARS NORMS FOR MORE DISCLOSURES FOR OFFSHORE FUNDS || SEBI - OFFSHORE FUNDS WITH OVER 50% OF ASSETS INVESTED IN SINGLE CORPORATE GROUP TO IDENTIFY ALL ITS INVESTORS

SEBI - OFFSHORE FUNDS WITH OVER 250 BLN RUPEES INVESTED IN INDIAN EQUITY MARKETS TO IDENTIFY ALL ITS INVESTORS

SEBI - REDUCES IPO LISTING TIME TO THREE DAYS

SEBI: APPROVES AMENDMENTS TO INFRA INVESTMENT TRUSTS TO PROVIDE NOMINATION RIGHTS TO UNIT HOLDERS WITH 10% OR MORE OF TOTAL OUTSTANDING UNITS

INDIA MARKET REGULATOR CHAIRPERSON BUCH: ADDITIONAL DISCLOSURES FOR OFFSHORE FUNDS IS TO PREVENT VIOLATION OF MINIMUM PUBLIC FLOAT AND TAKEOVER CODE

SEBI OFFICIAL: EXISTING OFFSHORE FUNDS HAVE THREE MONTHS TO COMPLY WITH ADDITIONAL DISCLOSURE REQUIREMENTS

SEBI CHAIRPERSON: WILL COME OUT WITH ANOTHER CONSULTATION PAPER TO STANDARDISE INVESTOR FEES FOR MUTUAL FUNDS

*SGX Nifty +110 pts (19192) from last trade 19082 ,*


Nikkei -190 pts ,
Hangseng -53 pts ,
Around @ 6.52am .


Dow +269.76 pts ,Nsdq -0.42 pts, S&P +19.58 pts , Bovespa +1701 pts , Ftse -28 pts , Dax -2 pts , Cac +26 pts , Crude @ $69.64 brl (-0.22), Brent @ $74.26 brl (+0.00) , Gold @ 1917.10 (-0.80), Silver @ $22.79 (-0.00), Euro @ $1.0865, JPY @ $144.86, INR @ 82.075




*Today's Corporate Action*
*30th June Ex Date*


 

AEGISLOG
Final Dividend - Rs. - 1.2500
ALUFLUOR
Final Dividend - Rs. - 2.0000
BAJAJ-AUTO
Final Dividend - Rs. - 140.0000
BAJAJFINSV
Final Dividend - Rs. - 0.8000
BAJAJHLDNG
Final Dividend - Rs. - 13.0000
BAJFINANCE
Final Dividend - Rs. - 30.0000
BANDARAM
Right Issue of Equity Shares 
BANKBARODA
Dividend - Rs. - 5.5000
CANFINHOME
Final Dividend - Rs. - 2.0000
DDEVPLASTIK
Bonus issue 1:10  
ESCORTS
Final Dividend - Rs. - 7.0000
GLAXO
Final Dividend - Rs. - 32.0000
GRNLAMIND
Final Dividend - Rs. - 1.5000
HITECHCORP
Final Dividend - Rs. - 1.0000
KUANTUM
Final Dividend - Rs. - 3.0000
MAHSCOOTER
Final Dividend - Rs. - 60.0000
NAM-INDIA
Final Dividend - Rs. - 7.5000
NILKAMAL
Final Dividend - Rs. - 20.0000
SONACOMS
Final Dividend - Rs. - 1.5300
SYNGENE
Special Dividend - Rs. - 0.7500
SYNGENE
Final Dividend - Rs. - 0.5000
VAIBHAVGBL
Final Dividend - Rs. - 1.5000
WELENT
Final Dividend - Rs. - 1.0000



*Today's Board Meetings*
*30-Jun-23*



CEETAIN
Audited Results  
DPL
Audited Results;Quarterly Results
ICSL
General    
INDAGIV
Audited Results  
JCTLTD
Audited Results;Quarterly Results
MUKESHB
A.G.M.    
NIBL
General    
NOVIS
Audited Results  
OBCL
General    
PADALPO
General    
PADMAIND
Reduction of Capital;Scheme of Arrangement
SAGARSYST
A.G.M.    
SAMKRG
General    
SRGHFL
General    
SUPERHOUSE
General    



*Stock under F&O ban on NSE*
*30-Jun-23*



None

🎤 *Stocks in the news:* 🎤

💰 *ICICI Securities, ICICI Bank:* ICICI Bank said the board members have approved the draft scheme of arrangement for delisting of equity shares of ICICI Securities. The public shareholders of ICICI Securities will get 67 equity shares of the bank for every 100 shares held by them in ICICI Securities. As a result, ICICI Securities will become a wholly-owned subsidiary of the bank.

💰 *63 Moons Technologies and MCX India:* MCX has decided to extend the support services deal with existing software vendor, 63 Moons Technologies for its trading and clearing platform, for six months with effect from July 1, 2023. The service cost is Rs 125 crore per quarter.

💰 *Tata Communications:* The Tata Group company has entered into an agreement to acquire US-based Kaleyra Inc, for CPaaS business expansion on a global scale. The said acquisition is expected to be completed within 6-9 months and the purchase consideration of $7.25 per share will be in cash only. The aggregate consideration is expected to be around $100 million.

💰 *Canara Bank:* The public sector lender has received board approval for its capital raising plan for FY24 amounting up to Rs 7,500 crore via debt Instruments.

💰 *Zydus Lifesciences:* The pharma company has received tentative approval from the United States Food and Drug Administration (USFDA) for Palbociclib tablets. Palbociclib is used to treat a certain type of breast cancer.

💰 *Bharat Petroleum Corporation:* The oil marketing company has received approval from its board of directors for raising capital up to Rs 18,000 crore. This capital will be raised via an issue of equity shares on a rights issue basis to eligible equity shareholders of the Corporation.

💰 *ICRA:* Sushmita Ghatak has resigned as Managing Director & CEO of ICRA Analytics. The company is in the process of identifying the successor for the said position. ICRA Analytics is a material subsidiary of ICRA.

💰 *HDFC Life:* Promoter company Housing Development Finance Corp (HDFC) has further bought 0.77% stake in its subsidiary HDFC Life through bulk deals on Wednesday.

💰 *Advanced Enzyme Tech:* Promoter entity Advanced Vital Enzymes Pvt Ltd has sold partial stake in Advanced Enzyme Technologies through bulk deals on Wednesday.

💰 *TCS:* Tata Consultancy Services (TCS) has banned six employees and six business associate firms for violating ethical conduct following whistleblower allegations around a recruitment scandal.

💰 *Adani Enterprises:* In a Rs 4,140 crore bulk deal, SB Adani Family Trust sold 1.8 crore shares of Adani Enterprises at Rs 2,300.

💰 *SBI Life:* The Board of SBI Life has approved the re-appointment of Mahesh Kumar Sharma as MD and CEO of the company

💰 *Power Grid:* The Committee of Directors of Power Grid have approved three proposals of investments worth over Rs 300 crore.

💰 *Zee Entertainment:* The company has withdrawn its EOI filed with the corporate insolvency resolution professional (CIRP) on June 27.

💰 *Dalmia Bharat Sugar:* The Board has approved a scheme of arrangement between Dalmia Bharat Sugar (demerged company) and Dalmia Bharat Refractories (resulting company). Under the agreement, 1 equity share of Dalmia Bharat Refractories will be issued to shareholders of Dalmia Bharat Sugar for every 39 shares.

Today's Headlines from :-

*Economic Times*

📝 10% retail borrowers missing their monthly payments: RBI

📝 Go First extends cancellation of its scheduled flights till July 6

📝 Tridhya Tech's SME public issue opens on Friday. Price band at Rs 35-42 per share

📝 Piyush Goyal asks banks to ensure enhanced, affordable credit to MSMEs

📝 Industry should take up issues on e-logs platform: DPIIT

📝 India, Philippines to upgrade defence partnership; boost maritime security

📝 Biden calls on US colleges to consider adversity during admission process

📝 Automobile industry seeks 5% GST for 2-wheelers running on flex fuel, official says

📝 Banks racked up Rs 71,871 crore of notional bond losses in FY23, one-third of profits

📝 AI company Runway valued at $1.5 billion in latest funding

📝 AI startup Inflection raises $1.3 billion from Microsoft, others

*Business Standard*

📝 India Inc's fundraising from overseas up 12% to $9.7 billion in H1 2023

📝 Tamil Nadu amends policy to enable registration of e-autorickshaws, e-taxis

📝 BRICS countries likely to induct five new members in August summit

📝 Gogoro gets Maharashtra nod to set up $1.5 bn smart battery infra

📝 ICICI Securities to be 100% subsidiary of ICICI Bank upon delisting

📝 $3.9 billion: Block deals gain momentum in June, hit three-year high

📝 Aadhaar-based face authentication being used by 47 entities: Govt

📝 Govt unlikely to raise FY24 borrowing plan; bond yields may remain below 7%

📝 States borrow only 84% of Rs 1.9-trillion notified amount in first quarter

📝 NTT launches data centre campus, a new subsea cable system in Chennai

📝 Coromandel International buys 32.68% in drone major Dhaksha for Rs 204 cr

📝Cube Highways Trust secures Rs 1,030 cr funding from IFC via long-term NCDs

*Financial Express*

📝 PM Modi highlights India’s ‘vast growth potential’ in meet with Goldman Sachs board

📝 India-US tech pact sets stage for Jio to export 5G stack

📝 Fintech major Lendingkart aims Rs 1,100 crore revenue, says CEO Harshvardhan Lunia

📝 Bayer to take agri services 2 million Indian farmers by 2025

📝 Canara HSBC Life Insurance reports 9-fold jump in profit at Rs 91 cr in FY23 

📝 Reliance Capital lenders vote in favour of Hinduja Group firm

📝 Nasscom announces first UK launchpad for Indian tech SMEs to have presence in Greater Manchester

📝 Onion prices inch up, may rise faster by December

📝 Six years of GST: Rs 1.5 trillion monthly tax revenues becomes ‘new normal’, focus on curbing tax evasion

📝 Russia’s share in India’s oil imports touch a high of 42% in May

*Mint*

📝 Porsche, Frauscher join hands to develop $655,000 electric speedboat

📝 CreditAccess to sell ₹1.1k cr stake in MFI

📝 TD Power Systems’ promoters plan to offload over 24% stake

📝 Adani Total to invest ₹20,000 cr over 10 yrs

📝 ReNew commissions 70 MW C&I green energy projects in Karnataka

📝 Sebi notifies provisions for listing, voluntary delisting of NCDs

📝 Discoms suggested to ensure 75% capacity from long-term contracts

📝 RamKrishna Forgings to add 30% to its capacity by Sept

📝 ONGC sells initial gas from KG basin to Torrent, GAIL at $11: Report.

30.06.2023 : Today's Banking / Financial News at a Glance

🍒 Impairments in credit card receivables up in FY23: RBI report : While the overall asset quality for banks has broadly improved during FY23, impairments in credit card receivables have increased, according to the Reserve Bank of India’s (RBI) Financial Stability Report. “While there has been an overall improvement in asset quality in respect of personal loans, impairments in the credit card receivables segment have risen marginally,” the report said, with data showing the highest increase for public sector (PSU) banks. The gross NPA (non-performing assets) ratio of credit card receivables for PSU banks rose to 18 per cent as of March 2023, from around 10 per cent a year ago. In comparison, the gross NPA ratio for private banks was largely stable at 1.9 per cent and for foreign banks at 1.8 per cent against the year-ago period. The gross NPA ratio for commercial banks stood at 2.0 per cent, also largely unchanged from the previous year. - Business Line.

🍒 Kotak Bank integrates Rupay Credit Cards with UPI : Kotak Mahindra Bank, in collaboration with National Payments Corporation of India (NPCI), has introduced the facility of linking its RuPay Credit Card to UPI (Unified Payments Interface) apps. Customers are no longer needed to carry their physical credit card. Customers of Kotak Mahindra Bank can transact through UPI apps like Google Pay, PhonePay, and Paytm, following the linkage. They can choose from seven RuPay credit cards and scan QR codes or initiate transaction on POS (Point of Sale) through out the country. - Business Line

🍒 Share of large borrowers in gross advances declines for the third successive year: Report : The share of large borrowers in gross advances of scheduled commercial banks (SCBs) declined successively over the past three years, even as retail loans grew faster than borrowings by corporates, according to the Financial Stability Report. The share of large borrowers in SCBs gross advances reduced from 51.1 per cent in March 2020 to 46.4 per cent in March 2023.A large borrower is defined as an entity having aggregate fund-based and non-fund-based exposure of ₹ five crore and above.- Business Line

🍒 Jana SFB raises emergency capital at discount to earlier rounds : Jana Small Finance Bank has raised ₹560 crore of capital from a clutch of investors such as Ashish Kacholia, Amansa Holdings, and Enam Holdings. The capital raise was important to salvage the bank’s capital adequacy. According to sources, for the purpose of the fund raise, the bank’s pre money value was considered at ₹1,700 crore. Its FY23 net worth stood at ₹1,504 crore. Extending the Q4 FY23 profitability run-rate, the pre-deal net worth would be around ₹1,600 crore. At these valuations, capital has been raised at a marginal premium to book value, echoing the current sentiments for small finance banks. - Business Line.

🍒 Lenders approve Hinduja Group’s ₹9,661-crore resolution plan for RCap : The committee of creditors (CoC) of Reliance Capital has approved the resolution plan put forth by IndusInd International Holding, with 99 per cent lenders voting in favour of the plan, sources told businessline. Hinduja Group had submitted a bid of ₹9,661 crore, all of which will be paid as upfront cash to acquire Reliance Capital and its subsidiaries. This will be in addition to the cash reserve of about ₹400 crore that RCap has generated by way of loan recoveries, among other avenues, a source said. Accordingly, lenders of RCap will receive about ₹10,000 crore against principal outstanding dues of ₹16,000 crore, translating to a recovery of around 65 per cent. Voting on the resolution plan began on June 9 and concluded on Thursday. The plan will now be submitted for approval of the National Company Law Tribunal (NCLT) in 7-10 days, they added. The deadline to file the final resolution plan with NCLT is July 15. Business Line.

🍒 ICICI Bank to buyout ICICI Sec in share swap deal : ICICI Bank will buyout the shareholders of ICICI Securities through a share swap deal which will delist the broking firm and make it the wholly-owned subsidiary of country’s second largest private sector bank. ICICI Bank will issue 67 equity shares of ₹ two each for every 100 shares of ICICI Securities of ₹ three each held by investors. Post the deal, equity shares held by the public shareholders of ICICI Securities will be cancelled and the share capital of the broking firm will reduce to such extent. - Business Line

🍒 Sundaram Alternates launches Rs 1,500 cr realty private credit fund : Sundaram Alternates, an arm of Chennai-based Sundaram Group, on Thursday launched its fourth high-yield credit fund with a corpus of Rs 1,500 crore. The new fund seeks to raise Rs 750 crore with a green shoe option worth Rs 750 crore, taking the aggregated target size to Rs 1,500 crore. The fund will focus on sub-Rs 100 crore deals, which offers fund diversification as well as attractive risk-rewards, Vikaas M Sachdeva, managing director of Sundaram Alternates, said. The fund will target gross deal returns ranging between 18 per cent and 22 per cent on a senior secured basis, Karthik Athreya, a director and head of strategy at the company, said. - Business Line

🍒 HDFC Bank, IndusInd Bank to lead next leg up-move for Bank Nifty to outperform : During July, "we expect Nifty to resume with trending moves on the upside which should help the benchmark to surpass and sustain above 19,000 mark," Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas said in an interview to Moneycontrol. He expects bank and financial services, oil and gas, metal and auto to join in the rally and contribute towards the up-move.On the Bank Nifty, "we expect stocks like HDFC Bank, IndusInd Bank to lead the next leg up-move which shall help the index to outperform in July," says Gedia, who has over 12 years of experience in markets. - moneycontrol.

Dow and S&P closed higher on Thursday. Bank shares led the market higher after major lenders cleared FED's stress test offsetting rate worries over strong economic data. Dow gained 0.80%, S&P added 0.45% but Nasdaq closed near flat line.

USD index and 10 year moved higher after strong economic data raised the chance of rate hikes. US Q1 GDP was revised upwards from 1.3% to 2.00% and jobless claims continued to push lower pushing USD index above 103.35 and 10 year near 3.84%. Cboe vix closed near 13.54.

Crude futures traded upwards after higher than expected US inventory drawdown offset worries over rate hikes. WTI moved near 70, Brent traded above 74.

Indian stocks rallied to record highs on Wednesday on the back of strong FII buying, positive cues from global equity and lower crude prices. Both Sensex and Nifty briefly crossed 64k and 19k respectively on strong show by large caps. Sensex gained 499 points and Nifty 155 points at close.

*Markets may continue to show some gains into life high zone as global equity outlook remains favourable. Participants may continue rotating positions among sectors as stocks may see alternate bouts of buying as well as some profit taking. For July series Q1 results and outcome of FED meeting remain key for a sustainable trend. Investors may continue to consolidate portfolios with long term outlook as markets firmly make a base into life high zone.*

t.me/AlliesFin

India Daybook Stocks in News

*Tata Communications:* Company to acquire Kaleyra in all cash deal (Positive)

*Reliance:* Jio net adds 30.4 lakh users in April vs 30.5 lakh (MoM) (Positive)

*Zydus Life:* Company gets tentative nod from USFDA for Palbociclib tablets (Positive)

*HDFC Life:* Promoter Housing Development Finance Corporation has acquired 1.66 crore equity shares (Positive)

*Zim Lab:* Company has agreed for strategic investments In Australia and MENA region. (Positive)

*Bajaj Healthcare:* Company announces to sale/disposal of an undertaking/units (Positive)

*Sanghi Cement:* Company has resumed its operations at the Cement Plant of the Company located at Sanghipuram. (Positive)

*Gujarat Gas:* Long-term Rating for Bank Facilities of company has been upgraded to “CARE AAA”/Stable (Positive)

*Krsnaa Diagnostics:* Company as a L1 Bidder for tender issued by National Health Mission, Assam for establishment, operation and maintenance of laboratory diagnostic centres. (Positive)

*Aurobindo Pharma:* Company to restructure its Puerto Rican unit's manufacturing facility. (Positive)

*ICICI Sec:* ICICI Bank approves draft scheme of arrangement for delisting of by issuing 67 shares in exchange of 100 shares of ICICI Sec (Positive)

*RCap:* CoC approves IndusInd International Holdings resolution plan for co, media sources (Positive)

*63 Moons:* MCX Extends Support Services Contract with 63_Moons for another 6 Months starting 1-July (Positive)

*Amruntanjan:* Board to consider Buy-Back Proposal today (Positive)

*HDFC Twins:* FTSE will combine the original HDFC Bank shares, no changes in weights but in September may consider the change. Final Board meet today to consider the merger (Neutral)

*SBI Life:* Board approves re-appointment of Mahesh Kumar Sharma as MD & CEO (Neutral)

*Power Grid:* Board approves 3 investment proposals worth Rs 389 crore. (Neutral)

*Canara Bank:* Board approves raising capital of up to Rs 7,500 crore via debt (Neutral)

*Vodafone Idea:* Lost 29.9 lakh users in April vs loss of 12.1 lakh (MoM). (Neutral)

*BPCL:* Board approves fund raise of up to Rs 18,000 cr via rights issue (Neutral)

*Syrma SGS:* South Asia Growth Fund has sold 13.68 lakh equity shares (Neutral)

*Bikaji Foods:* India 2020 Maharaja Limited has sold 60.55 lakh equity shares (Neutral)

*Bandhan Bank:* Bank triples number of branches to 1,500 in less than 8 years (Neutral)

*Zensar tech:* ICRA Limited has re-affirmed long-term rating with stable outlook (Neutral)

*Navin Fluorine:* Board to consider Fund Raising via QIP/ Public Issue/ Preferential Issue, etc today (Neutral)

*SBI Life:* Board Approves Re-appointment Of Mahesh Kumar Sharma As MD & CEO (Neutral)

*ICRA:* Sushmita Ghatak has resigned as Managing Director & CEO of ICRA Analytics (Neutral)

*Creditaccess Grameen:* Promoter Creditaccess India BV to sell up to 5.8% stake worth ₹1,107 cr in the company via block deal (Neutral)

*ZEE Ent:* The company has withdrawn its EOI filed with the corporate insolvency resolution professional (CIRP) on June 27. (Neutral)

*TD Power:* Promoters Selling 24.2% Stake Via Block Deal

BUZZ-Spike in US yields push Indian peers higher before debt sale - Reuters

Indian government bond yields open higher in last trading session of fiscal first quarter, as traders await state debt sale

Benchmark 10-year yield IN072633G=CC at 7.0856% as of 09:05 a.m. IST on Friday vs 7.0575% in previous close

"Things have turned bearish as we are at the end of the quarter, and key technical level of 7.08% should be tested" a trader with a state-run bank says

U.S. yields surged as strong economic data raised bets of more interest rate hikes from Federal Reserve

The 10-year yield rose above 3.85%, while the two-year yields climbed above 4.85%

Bets of a rate hike in July leaped to 84%, from 74% earlier in the week FEDWATCH

New Delhi to raise 330 billion rupees ($4.02 billion) through bond sale later in the day, including 140 billion rupees of benchmark paper