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PRE-MARKET REPORT
The domestic equity market indices, Sensex and Nifty 50, are expected to open on a tepid note Monday tracking mixed cues from global peers.
Gift Nifty was trading around the 23,290 level, a discount of nearly 40 points from the Nifty futures’ previous close, indicating a weak start for the Indian stock market indices.
The US stock market ended slightly lower on Friday in choppy trading after stronger US jobs data raised worries the Federal Reserve may wait longer to cut interest rates.
The Dow Jones Industrial Average declined 87.18 points, or 0.22%, to 38,798.99, while the S&P 500 eased 5.97 points, or 0.11%, to 5,346.99. The Nasdaq Composite ended 39.99 points, or 0.23%, lower at 17,133.13.
Asian markets traded mixed on Monday ahead of key economic data from the region.
Japan’s Nikkei 225 gained 0.19%, while the Topix rose 0.38%. South Korea’s Kospi fell 1% and the Kosdaq dropped 0.5%. Stock markets in mainland China, Hong Kong, Taiwan, and Australia are closed today.
STOCKS TODAY
Adani Enterprises: Shares of Adani Enterprises may gain on June 10 after its subsidiary Adani Airport Holdings Limited (AAHL) registered a milestone of handling one million tonnes of air cargo in FY24. The airport arm of the Adani group’s flagship firm facilitated the transport of 1.01 lakh metric tonnes of cargo in FY24, capturing an impressive 30.1 percent market share, Adani Enterprises said in a filing to the exchanges.
Lupin: The company has entered into a Business Transfer Agreement with Lupin Life Sciences, a wholly-owned subsidiary, to carve out its trade generics business in India as a going concern on a slump sale basis. This proposal, approved on March 22, 2024, will be effective from July 1, 2024.
RailTel Corporation: The state-run entity, has been awarded a significant work order worth up to Rs 81.6 crore from National Informatics Centre Services Incorporated (NICSI) for ICT infrastructure. The scope of the order includes supply, installation, configuration, commissioning, and integration of the infrastructure, along with operation and maintenance responsibilities, it said in a regulatory filing on June 8.
Dalmia Bharat: The company in a stock exchange filing said that Dalmia Cement, a wholly owned subsidiary, entered into a share subscription agreement, shareholders agreement, and power purchase agreement to acquire 26% equity share capital and 26% convertible debentures of Solarcraft Power.
Coromandel International: The company unveiled a new Nano Fertilizer plant at its Kakinada complex in Andhra Pradesh on June 9. The unit produces a wide range of NPK grades with an annual capacity of 2 million MT of fertilizers and caters to the needs of the farming community across India.
Dr. Reddy’s Laboratories: The USFDA has issued a Form 483 with four observations for the API manufacturing facility (CTO-6) in Srikakulam, Andhra Pradesh. The inspection took place from May 30 to June 7, 2024. Dr. Reddy’s has stated that it will address the observations within the stipulated timeframe.