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Market Opening - An Overview
Nifty futures on the Singapore Exchange were trading 0.61% lower at 16,471, indicating that Dalal Street was headed for a negative opening.
Asian markets were mixed as investors were worried that rising interest rates may weigh on profit and lead to a recession. Japan’s Nikkei was up 0.41% and Topix climbed 0.74%. China’s Hang Seng was down 0.3% and CSI 300 inched up 0.06%.
Indian rupee inched up 2 paise to close at 77.64 against the US dollar on Monday.
FII/DII Trading Data
Stocks in News Today
Adani Group: The group will develop integrated ammunition manufacturing facility in Uttar Pradesh. The company will be investing Rs 1,500 crore project spread over 250 acres as part of the UP Defence Industrial Corridor for this purpose. It will comprise state-of-art technology across small and medium calibre ammunition.
Meanwhile, West Bengal Industry Minister Partha Chatterjee said the state government has given its nod to Adani Enterprises for setting up a hyper-scale data centre at Bengal Silicon Valley in the New Town area on the outskirts of the city. The data centre will be set up on 51.75 acres of land.
Bharti Airtel: The telecom major has informed the exchanges that Nxtra Data Limited, a subsidiary of the company had entered into an agreement for acquisition of 11.7% stake in Avaada MHAmravati Private Limited, a special purpose vehicle, formed for the purpose owing and creating captive power plant.
Tata Consultancy Services (TCS): The IT behemoth expects the rate of staff departures to fall and demand for its services to rise as companies continue with their pandemic-hastened digitisation processes, Reuters reported citing a company executive. More tech talent is expected to enter the job market from startups facing funding crunches, TCS Asia Pacific President Girish Ramachandran told the Reuters Global Markets Forum on Monday.
SBI Cards and Payment Services: The company has received approval from the board of directors for its fund raising of Rs 2,500 crore. The company will raise funds by way of issuance of non-convertible debenturess (NCDs) in one or more tranches, on private placement basis.
Tata Power: The company has partnered with real estate company Kolte-Patil Developers Ltd (KPDL) to set up e-charging stations across its projects in Pune, Mumbai and Bengaluru for convenience of electric vehicle owners. As part of the wider green mobility adoption, EVs and the charging infrastructure play a key role to mitigate climate change challenges in the urban mobility space, Tata Power said in a statement.
Punjab National Bank (PNB): The Enforcement Directorate has filed a fresh chargesheet against absconding jeweller Mehul Choksi, his wife Priti and others under the anti-money laundering law in connection with the over Rs 13,000-crore PNB loan fraud case, officials said. She has been charged by the Enforcement Directorate (ED) with “helping her husband in layering of the proceeds of crime”.
Bank of India (BoI) and Future Retail Ltd: The National Company Law Tribunal (NCLT) will hear Amazon’s petition opposing initiation of insolvency resolution proceedings against debt-ridden Future Retail Ltd on June 10. A plea seeking initiation of insolvency resolution proceedings against FRL was filed by Bank of India (BoI), the lead banker in the consortium of lenders to the company.
Maruti Suzuki: The company has set up a 20 MW solar power plant at its Manesar-based manufacturing facility. The initiative will contribute 28,000 MW per annum, which is equivalent to the energy required for the production of over 67,000 cars annually.
NMDC: The iron ore miner has made a sharp reduction of Rs 1,100 per tonne in the price of lump ore and Rs 1,000 in case of fines. The prices are effective from June 5, 2022, the company said in a regulatory filing on Monday. According to the filing, the company has fixed the prices of per tonne lump ore at Rs 4,400 and that of fines at Rs 3,310 a tonne.
Coal India Ltd: The state-owned company is aiming at green mining options and increase production from its underground mines, which are favourable for cleaner ecosystem, through installation of technologies, company’s Chairman Pramod Agrawal said.
Angel One: The stock broking firm crossed the 10-million customers mark in May, more than doubling its customer base over the past 12 months. In May alone, it added over 0.47 million new customers, taking its overall customer base to 10.10 million. On an annualised basis, the gross addition grew by 108.7% in the 12 months ending May 2022.
HLE Glascoat: The company informed exchanges that the board has approved sub-division of existing one equity share of face value Rs 10 each, into fully paid up into five equity shares of Rs 2 each, and also fund raising up to Rs 350 crore.
IRB Infrastructure Developers: The construction firm said it has offered Vadodara Kim Expressway, being developed under Hybrid Annuity Model (HAM), to IRB InvIT Fund. The Vadodara Kim stretch, which is part of Delhi-Mumbai Expressway (DME), is 23.740 km-long and has project cost outlay of Rs 2,094 crore.
Max Ventures & Industries: The holding company said it will acquire Accord Hotels and Resorts, which owns a 10-acre land parcel in Noida, for Rs 306 crore. In a statement, MaxVIL said its arm Max Estates will acquire 100% of equity in Accord Hotels and Resorts.