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Indian indices recovered from intraday loss and closed in green. The buying was seen in the majority of the sectors. Sensex gained 230 points at 52574.46; Nifty settled above 15700 at 15746.50 up by 63 points.
Among index heavyweight topmost gainers were NTPC, SBIN, Titan, HUL, Tata Steel etc.
Asia-Pacific dropped on June 21, as Japan’s markets plummeted. Meanwhile, China kept its benchmark lending rate unchanged
Stocks in news
Astron Paper gets environment clearance for additional 10 MW power plant
Astron Paper & Board Mill has received “Environment Clearance” from Gujarat Pollution Control Board, Gujarat with respect to propose 10 MW power plant at Unit-1 located at Halvad, Gujarat. Environment Clearance is basic approval to check the environment impact surround plant location and viability along with rules and regulations.
Reliance Home Finance
Reliance Home Fin: to be acquired by Authum Investment & Infra for Rs2887 cr; cash of Rs1800 cr to be distributed to lenders
Authum Investment & Infra is selected as the highest bidder for Reliance Home Fin with bid valie of Rs2887 cr. As per the deal, the cash of Rs1800 crore would be distributed to lenders. Reliance Home has debt of Rs11200 crore with key lenders like SBI and Bank of Baroda. News sentimentally positive for SBI, BoB.
Bandhan Bank
Bandhan Bank: to benefit from Assam government’s move to provide incentives, waive off on micro-finance loans
In line with its election promise, the BJP government in Assam intends to provide relief to 2.2 million women who have taken microfinance loans to tune of Rs12,500 crore. Bandhan Bank has close to 12% of its loan book exposure to Assam and stands to benefit immensely from it. However, the bank is also facing trouble in collections in West Bengal and some of the other states
Hindalco Industries
As per media reports, DGTR has recommended anti-dumping duty on aluminium foil imports from China, Malaysia, Thailand and Indonesia. DGTR recommended the finance ministry to impose anti-dumping duty between $93.53-$976.99 per tonne on foil. Likely imposition of anti-dumping duty on aluminium foil imports will be positive for Hindalco Industries.
Earnings Today
- Bharat Dynamics Q4 net profit slips by 15.9% YoY –
- Info Edge Q4 earnings net profit rises by 60.3% YoY –
- Asian Energy Services Limited (AESL) Q4FY21 results–PAT declined by 16% y-o-y to Rs14 crore due to lower revenues (down 27% y-o-y); write-off of Rs11.6 cr for trade receivables