PRE MARKET
GIFT Nifty traded higher around 24,092.50 in early deals, indicating a strong start for the benchmark indices.
The S&P 500 and Nasdaq closed down by more than 1% on Wednesday, as traders bet that the Federal Reserve’s next move would be a rate hike after new Fed Chair Kevin Warsh highlighted the need to tame inflation and other policy makers projected rising interest rates later this year.
The Dow Jones Industrial Average fell 507.12 points, or 0.98%, to 51,492.55 after two straight sessions of record-high closing levels. The S&P 500 lost 91.25 points, or 1.21%, to 7,420.10 and the Nasdaq Composite lost 354.69 points, or 1.34%, to 26,021.66.
Asian shares gained climbed as oil prices extended their decline after US President Donald Trump signed an interim deal to end the Iran war and reopen the Strait of Hormuz.
Japan’s Nikkei, Hong Kong’s Hang Seng, and the Taiwanese weighted index edged mixed 1.27, -1.93, and 1.11 percent.
STOCKS IN NEWS
IFCI
Shares of IFCI are likely to remain in focus after the NSE submitted its draft IPO documents to market regulator Sebi earlier this week.
RVNL
Rail Vikas Nigam Ltd. (RVNL) has secured a Letter of Acceptance (LoA) from East Coast Railway for the construction of bridges under the EPC model as part of the third and fourth railway line expansion between Nergundi–Barang and Khurda Road–Vizianagaram on the Bhadrak–Vizianagaram route.
HFCL
Domestic telecom equipment maker HFCL has secured a ₹2,666 crore contract from RVNL for the supply of equipment under the BharatNet Phase-III project.
DOMS Industries
The company witnessed substantial block deal activity, with SBI Mutual Fund acquiring 9.3 lakh shares valued at ₹205 crore, while Axis Mutual Fund purchased 3.6 lakh shares worth ₹79.6 crore.
RailTel Corporation of India
RailTel has secured a Letter of Intent (LoI) from the Director IT for a domestic project involving the development of disaster recovery IT infrastructure.
Corona Remedies
Sepia Investments offloaded Corona Remedies shares worth approximately ₹749 crore through a block deal executed on the stock exchanges.
Apollo Hospitals
The Reserve Bank of India (RBI) has passed a compounding order in relation to Apollo Hospitals, bringing the proceedings against the company to a close. To settle the matter, Apollo Hospitals paid a compounding fee of ₹17.8 crore.
Bosch Home Comfort
Promoter Bosch Global Software Technologies plans to divest up to a 7.97% stake, equivalent to 21.7 lakh shares, in Bosch Home Comfort through an offer-for-sale (OFS) scheduled for June 18–19.
Source: Mint, Moneycontrol.
