Post Market Analysis 23-06-2021

Manoj Kumar June 23, 2021

Indian Stocks Market end lower on profit booking at record levels on June 23, Metal, oil & gas stocks major hit. Sensex down by 282.63 points to 52,306.08. The Nifty down by 85.80 points to 15,686.95.

Indian rupee extended the early losses and ended near the day’s low at 74.30.

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United Breweries: Heineken acquires additional 14.99% stake in UBL, Heineken got an open offer exemption from the Securities and Exchange Board of India (SEBI) to buy an additional 14.99 percent stake in the company from the Bangalore debt recovery tribunal.

Hero MotoCorp: The company released a statement there is an upward revision is a direct result of the increase in commodity prices. The statement further adds that the company is driving cost savings programmes aggressively in order to minimise the impact on the customer.

Bharat Electronics: The state-owned aerospace and defense electronics company reported a net profit of Rs 1352.38 crore in the quarter ended March 2021, up 30.73 percent year-on-year (YoY) compared to Q4 FY20.

Adani Ports: Norwegian pension fund KLP is divesting from Adani Ports and Special Economic Zone on the grounds the company’s links with the Myanmar military breach the fund’s responsible investment policy, KLP said on Tuesday.

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Manoj Kumar June 23, 2021

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