🎤 *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

Indian bond yields to track US yields higher, debt supply weighs - Reuters

MUMBAI, June 30 (Reuters) - Indian government bond yields are likely to rise in the early session on the last day of the quarter, tracking a spike in U.S yields, while a fresh supply of debt via weekly auction will further hurt sentiment.

The benchmark 7.26% 2033 bond yield IN072633G=CC is expected to be in the 7.04%-7.10% range, after closing at 7.0575% in the previous session, a trader with a primary dealership said.

The sharp jump in U.S. yields will have a spillover impact on local papers, and to add to it, supply will also test appetite, the trader said. "Benchmark yield may break its technical upside-level through the day."

U.S. yields jumped on Thursday after upbeat data solidified the picture of an economy and job market defying predictions of a recession, underpinning pronouncements from the Federal Reserve chief that there is little room to let up on monetary tightening.

U.S. weekly claims for unemployment insurance came in at 239,000, below the 265,000 expected and below last week's revised 265,000 jobless claims filed.

At the same time, the final print for first-quarter gross domestic product growth was 2.0%, higher than last month's 1.3% reading, and the 1.4% forecast by economists polled by Reuters.

The 10-year yield rose above the crucial 3.85% mark, while the two-year yield, a closer indicator of interest rate expectations, jumped 16 basis points to 4.88% as bets of interest rate hikes from the Fed rose.

The odds of a rate hike in July stand surged to around 84% from 74% earlier in the week. FEDWATCH

Meanwhile, New Delhi will raise 330 billion Indian rupees ($4.02 billion) through the sale of bonds, which includes 140 billion rupees of the benchmark note.

Bond yields remained largely range-bound through the week, as traders continue to seek fresh triggers, and await the new quarter to reassess their portfolios.

KEY INDICATORS:

Brent crude futures LOc1 down 0.1% at $74.25 per barrel, after rising 0.4% in previous session

10-year U.S. Treasury yield US10YT=RR at 3.8422%, two-year yield US2YT=RR at 4.8717%

India to sell sovereign bonds worth 330 billion rupees

RBI to set underwriting fees for 330 billion rupees sovereign bond auction

** RBI to conduct 14-day variable rate reverse repo auction for 1 trillion rupees

MS on BPCL
Overweight Call
Target Rs 425
Announced Capital Infusion Via A Rights Issue Of $2.2 Bn
Believe This Could Have Been Avoided
It Highlights A Shift In the Focus Away From Divestment Towards Energy Security

Citi on BPCL
Buy Rating
Target Rs 485
Not Entirely Convinced Of Rationale For An Equity Raise
This Could Potentially Cap Near-term Upsides For Stocks

MS on HDFC AMC
Equal-weight Call
Target Rs 1,840
SEBI To Release A Revised Consultation Paper On TERs, Likely Positive
Regulator Expects The Industry To Be ‘Quite Happy’ With The Proposal
At The Margin, This Appears To Be Positive For AMCs

UBS on MCX
Buy, TP Rs 1950
Renewed contract at significantly high cost; sharp impact on earnings
MCX reported net profit of Rs77mn
With sharp rise in software costs, co is likely to post net loss for the next two quarters (Q2/Q3FY24 - not included in our forecasts)

MS on MCX
Underweight Call
Target Rs 1,125
The transition Of the Technology Platform To TCS Is Further Delayed
The Extension Of Its Contract With 63 Moons Will Wipe Out Most Of Its F24 Profit
FY25 Profit Forecasts Are Unlikely To Be Affected If Implementation Happens By December 2023

MS on IndiGo
Overweight Rating
Target Raised To Rs 3,321
Industry Is Moving From Recovery To Expansion Phase
F25e EV/EBITDA At 6.7x Is 20% Below 1-yr Fwd Pre-pandemic Median

GS on Godrej Cons
Buy Rating
Target Rs 1,150
Delivered The Strongest H2FY23 Among HPC Peers
India Volume Growth To Be Driven By Various Initiatives
Margin Tailwinds Remain Strong
Acquisition Integration Progressing As Per Plan
International Business Poised For A Strong Recovery

Kotak Inst. on Voltas
Sell Rating
Target Cut To Rs 710
Cut FY24 EPS Estimate By 8% To Factor In Summer Season Washout For Room AC Business
Cut FY25 EPS Estimate By 9% To Reflect Continued Intense Competition & Margin Pressures

Jefferies on Voltas
Buy Call
Target Cut To Rs 950 From 1,090
Lower FY24 Cooling Segment Revenue Growth To 12% YoY
Share Price Factors Negatives & Does Not Consider Engg Uptick That Should Come Ahead
Upside Is Likely To Be Back-ended Over Next 12 Months

Jefferies on Cement
All-India Avg Price Remains Stable MoM (Q1 Down 1-2% QoQ)
Prices Went Up Marginally In Central/West, Declined In East/South
Delay In Monsoon Onset Leading To Better Demand For June
Some Price Hike Announcements Made For July Likely To Just Contain Monsoon Decline
Expect YoY EBITDA Growth In Q1 For The Sector

Kotak Inst. on Max Fin
Buy Rating
Target Rs 1,060
Max Life Comfortable On Delivering Mid-teen APE Growth In FY24
VNB Margin Guidance Of 27-28% May Be Conservative In This Backdrop

CLSA on Steel
Strong Stimulus In China’s Realty, Driving Up Steel Demand, Is Key To Watch For Profitability
Low Chinese Steel Production In May Is Encouraging
Soft Construction Activity & Multi-year Low Housing Starts Weigh On Demand
See Downside Risk To Domestic Steel Prices

@aLLiESfiN

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moon.
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unofficial slogan of
Google.
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Global bits

✒️Asian stocks eased on Friday after a set of strong U.S. economic data bolstered the view that the Federal Reserve will likely keep interest rates higher for longer

✒️The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, pointing to continued labour market strength.

✒️Dow, S&P gain with bank rally countering rate worries

✒️TSX rises for fourth day as bank stocks rally

✒️Australia's S&P/ASX 200 index lost 0.39%, while Japan's Nikkei fell nearly 1%, but was easily the best performing Asian stock market with a 26% gain in the first six months of the year.

✒️China's blue-chip CSI300 Index fell 0.14% and the Shanghai Composite Index eased 0.11%. Hong Kong's Hang Seng Index slipped 0.28%, on course to clock a decline of 5% for the first half of the year.

✒️China manufacturing activity contracted for a third straight month in June, albeit at a slower pace, an official factory survey showed on Friday.

✒️Gross domestic product increased at a 2.0% annualised rate last quarter against the expectation of 1.4%

✒️The strong economic data sent Treasury yields higher, with the yield on 10-year Treasury notes touching a three-month high of 3.868% on Thursday. In Asian hours, it was at 3.840%.

✒️The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was at 4.872%, having touched more than a three-month high of 4.892% overnight.

✒️Investor focus on Friday will be on the U.S. Personal Consumption Expenditures (PCE) index reading, the Fed's favoured inflation gauge.

✒️In the Eurozone, inflation data for May will likely provide cues to the European Central Bank's next moves.

✒️Japanese authorities are under pressure to combat a continued yen fall (145 per dollar) driven by market expectations that the Bank of Japan will keep interest rates ultra-low, even as other central banks tighten monetary policy to curb inflation.

✒️U.S. crude fell 0.21% to $69.71 per barrel and Brent was at $74.30, down 0.05% on the day.

✒️South Korea May factory output gets boost from cars and chips

✒️Nike's gloomy forecast puts spotlight on N America slowdown

✒️Mexico's economic outlook uncertain, say finance officials

✒️South African rand slips against stronger dollar ahead of PPI

✒️Still room for improvement in China, says H&M CEO

✒️Rouble hits 15-month low past 87 vs dollar on political risk concerns

✒️Japan's jobless rate flat at 2.6% in May

Source: Reuters

NIFTY at ALL TIME HIGH 😇

Telegram.me/AlliesFin

Top 10 constituents - away from all time highs 🧐

Reliance = 12.5% away
HDFC Bank = 2% away
ICICI Bank =2.7% away
HDFC = 7% away
Infosys = 47% away
ITC = ALL TIME HIGH
TCS = 23% away
Kotak = 22% away
L&T = ALL TIME HIGH
Axis Bank = ALL TIME HIGH

This shows broader markets have participated very well 🙌

Days taken by #Nifty for every 1,000 point rallies

9K-10K : 36
10K-11K : 33
11K-12K : 59
12K-13K : 31
13K-14K : 25
14K-15K : 25
15K-16K : 120
16K-17K : 19
17K-18K : 28
18K-19K : 425

t.me/AlliesFin

#sensex #banknifty #stockmarket

Visualisations on semiconductors by Visual Capitalist.
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https://telegram.me/AlliesFin/13201

Nifty almost 19200

30/6/2023
t.me/AlliesFin
BSE:+803(64718)
NSE:+216(19189)
B.NIFTY:419(44747)
MID:+191(28776)
SML:+164(32602)
FII|FPI:+6397Cr
DII:+1197Cr
B.Crude: 74
Gold$:1906= INR: 57929
Silver: 68107
$/Rs: 82.04
7.26 : 2033 G-Sec: 7.11
NSE PE: 22.08

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

*Timings - 2 sessions*

1 - Morning - 6.30 am to 3.40 pm

2 - Evening - 4.35 pm to 2.45 am

*Gandhinagar GIFT City updates*

1. Google will open its Global Fintech Center in GIFT City

2. DBS Bank (the largest bank in Singapore) gets approval to set up its base at GIFT City
→ In the past 3 years 25 Indian banks and 10 Foreign banks set up their base in GIFT IFSC

3. JP Morgan launched blockchain platform for USD clearing in GIFT

4. KredX’s trade finance platform goes live at GIFT
- The company hopes to execute transactions worth $2 billion in the next 18 months

5. Kotak Mahindra bank to move its Mauritius funds to GIFT City

6. Bank of Baroda’s GIFT City branch to outperform it’s London branch this year

7. India's biggest D-mart coming in GIFT City

8. Nakshatra group won New multi-level parking bid
- 1,150 cars capacity
- There will be commercial space along with parking facility

9. Family offices can now establish a first-of-its-kind fund management entity, family investment fund (FIF) in GIFT City.

10. Shivalik Group sold 250 residential units in GIFT City within 15 day of project launch

11. Akshay Kumar buys a luxurious duplex in GIFT City

12. GMRC is looking into having a second metro station within GIFT City premise.

WhatsApp fwd.