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SGX Nifty futures were trading 0.12% lower at 18,808, hinting at a flat-to-lower opening for Indian markets.
Asian shares were trading lower as investors were concerned over a recession after Federal Reserve officials continued to take a hawkish stance to tame inflation. The Nikkei 225 index fell 1.63% and the Topix tanked 1.5%. The CSI 300 index slumped 1.53% and teh Hang Seng dropped 1.69%.
Indian rupee rose 10 paise to close 81.95 against the US dollar on Thursday.
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Housing Development Finance Corporation (HDFC): The mortgage lender has sold its entire 9.65% stake in Ruralshores Business Services. It also sold 10 lakh shares in HDFC Property Ventures for Rs 1.20 crore, and 5 lakh shares in HDFC Venture Capital Rs 30 lakhs, to Vividh Distributors. However, HDFC bought 3.86% shares in Bonito Designs for Rs 25 crore, while the corporation via HDFC Capital Advisors purchased 914 compulsorily convertible preference shares (CCPS) in Cognilements.
Bharat Petroleum Corporation (BPCL): The oil marketing company said the board of directors will meet on June 28 to consider various modalities for capital infusion including rights issue. The funds will help the company achieve energy transition, net zero and energy security objectives.
Landmark Cars: Private equity firm TPG Capital is likely to sell 44 lakh equity shares or an 11% stake in the automotive retailer via a block deal, according to media reports. The block deal is likely to take place at 0-5% discount to the current market price. TPG Growth II SF Pte Ltd holds an 11.25% stake or 44.56 lakh shares in the company as of March 2023.
PNB Housing Finance: The housing finance company has received board approval for the issuance of non-convertible debentures worth up to Rs 5,000 crore in tranches on a private placement basis.
Coforge: The IT services firm has acquired the final tranche of shares of the balance 20% stake in Coforge Business Process Solutions for Rs 336.94 crore. In April 2021, it had acquired 60% of 80% stake in Coforge Business Process Solutions. Its total stake in Coforge Business Process Solutions stands at 80% now.
Eros International: SEBI passed an ex parte, interim order against the company for alleged misstatements in books of accounts. SEBI directed BSE to appoint a forensic auditor to examine books of 3 companies listed on the exchange. ThinkinkPicturez, Mediaone Global Entertainment, Spicy Entertainment prima facie acted as conduits in the alleged misrepresentation/diversion of funds by Eros.
Moreover, Sunil Arjan Lulla, managing director, Eros International barred from holding KMP, directorial position in any listed company. The two senior executives, the company, Eros Worldwide FZ and Eros Digital have been banned from accessing the securities markets until further orders too. Eros is in the process of seeking legal advice on the Sebi order.
Vedanta: The company denied media reports which stated that the company is in the process of selling its Sterlite Copper Plant at Thoothukudi in Tamil Nadu. It said that the reports are “wrong, baseless and incorrect.”
LIC Housing Finance: The housing finance has appointed Tribhuwan Adhikari as Chief Operating Officer with effect from June 22.
HBL Power Systems: The board is going to consider approving a proposal of slump sale of two products lines, Power Electronics and Integrated Power Supplies to Moebius Power Electronics on June 28.
Aether Industries: The company said the Fund Raising Committee has approved an allotment of 80.12 lakh equity shares to 36 qualified institutional buyers at issue price of Rs 936 per share, and raised Rs 750 crore. SBI Mutual Fund, Axis Mutual Fund, Edelweiss Mutual Fund, Goldman Sachs Funds, Bandhan Mutual Fund, Invesco MF, 360 One Focused Equity Fund, Aditya Birla Sun Life Insurance, and Societe Generale are some of investors in Aether via QIP issue.
Federal Bank: The Reserve Bank of India has approved appointment of Harsh Dugar as the Executive Director on the board of the bank, for three years.
Jyoti Structures: The company has received board approval for appointment of Abdul Hameed Khan as Whole Time Director for 5 years with effect from July 21, 2023. Currently, he is Chief Executive Officer of the company.
Paytm: The company signed an MoU with Arunachal Pradesh Innovation and Investment Park (APIIP) to create a startup ecosystem for the youth in the northeastern state. The Paytm Incubation Centre would provide products to early-age startups at a discounted price.
Wipro: The IT services company inaugurated its new office at Sable Park, Century City, in Cape Town. The new office would help address requirements of the growing client base in South Africa, and provide opportunities to local talent, the company said.