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PRE-MARKET REPORT
The Indian equity benchmark indices, Sensex and Nifty 50, are expected to extend a rally and open higher on Friday tracking positive momentum in global peers.
Gift Nifty was trading around the 24,175 level, a premium of nearly 80 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.
The US stock markets ended with minor gains on Thursday as treasury yields eased ahead of the fresh inflation data.
The Dow Jones Industrial Average gained 36.53 points, or 0.09%, to 39,164.33, while the S&P 500 rose 5.16 points, or 0.09%, to 5,483.06. The Nasdaq Composite ended 53.53 points, or 0.30%, higher at 17,858.68.
Asian markets rose on Friday with Japan’s Topix index on course to regain its 34-year high.
Japan’s Nikkei 225 gained 0.6%, while the Topix rose 0.66%. South Korea’s Kospi was up marginally, and the Kosdaq was flat. Hong Kong Hang Seng index futures indicated a lower opening.
STOCKS TODAY
HCL Technologies: HCL Technologies’ 0.46% equity stake is likely to be sold through a block deal for Rs 1,757 crore on June 28, sources told CNBC-TV18. The floor price for the block deal is likely to be Rs 1,414.9 per share, which implies a discount of 2.75% to the current market price.
KPI Green Energy: The company has received a sanction letter for credit facilities amounting to Rs 686 crore for the development of a 200 MWAC (240 MWDC) solar photovoltaic power project in Khavda, Gujarat.
JSW Infrastructure: Subsidiary JSW Port Logistics has agreed to acquire a 70.37% shareholding held by promoters and the promoter group in Navkar Corporation. Meanwhile, the company has received a Letter of Acceptance from Southern Railway, Chennai Division for the construction and operation of the Gati Shakti Multi-Modal Cargo Terminal (GCT) at Arakkonam, Tamil Nadu.
Reliance Industries: Reliance Jio Infocomm announced a series of new unlimited plans set to take effect on July 3. The new tariff plans range from Rs 189 for 2 GB per month to Rs 3,599 for a 2.5 GB per day annual plan. These plans include unlimited 5G data for all plans with 2GB/day and above.
Ambuja Cements: Ambuja Cements said its board has approved merging with Adani Cementation, a subsidiary of Adani Enterprises. Through this proposed scheme, Adani Enterprises will get 8.7 million shares of Ambuja Cements. The scheme will consolidate cement capacity within the group to bring synergistic benefits for all stakeholders.
AU Small Finance Bank: The bank has received approval from the Board of Directors for raising funds to Rs 5,000 crore via the issue of equity shares through private placement or qualified institutions placement (QIP) or preferential allotment or other modes. The board also approved raising funds to Rs 6,000 crore, in one or more tranches, via the issue of debt instruments.