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Market Opening - An Overview
Nifty futures on the Singapore Exchange were trading 0.43% lower at 16,277, signalling that Dalal Street was headed for a negative start.
Asian shares were mixed as investors weighed the impact of higher inflation, elevated oil prices and rising interest rates on the economy. Japan’s Nikkei 225 was up 0.16% and Topix rose 0.15%. China’s Hang Seng fell 0.23% and the CSI 300 index was 0.45%.
WTI Crude oil rose to $122.41 per barrel and Brent Crude rose to $124.05 per barrel.
Indian rupee slipped 2 paise to 77.73 against the US dollar on Wednesday.
FII/DII Trading Data
Stocks in News Today
Vedanta Ltd: The company said it has pledged 5.77% stake in Hindustan Zinc Ltd for a term loan of Rs 8,000 crore. The announcement comes days after the Cabinet Committee on Economic Affairs (CCEA) approved the government’s 29.5% stake sale in Hindustan Zinc.
Tata Power Company: The company’s subsidiary Tata Power Solar has commissioned an EPC project of 450 MWDC for Brookfield Renewable India in Rajasthan. The company has set up over 8 lakh modules and completed them within a record 7-month timeframe. The project will produce over 800GWh of clean energy annually and will help avoid up to 600,000 tons of annual CO2 emissions.
Punjab National Bank: The state-run lender has revised its Repo-based Lending Rate (RLLR) to 7.40 percent w.e.f. June 9, from 6.90 percent earlier. The bank has taken this decision especially after the RBI hiked the repo rate.
Wipro: The IT services company and ServiceNow will help Petrobras to advance its digital journey. The project aims to raise the level of service for internal users and reduce costs by modernising and aligning IT infrastructure processes with the business through a modern cloud solution focused on automation and integration.
Future Enterprises Ltd (FEL): The debt-ridden company has defaulted on payment of interest of Rs 1.41 crore for its non-convertible debentures. The due date for payment was June 6, 2022.
Crompton Greaves Consumer Electricals: The company said its board will meet next week on June 13, 2022, to consider raising up to Rs 925 crore through debt securities.
Bharat Petroleum Corporation Ltd (BPCL): The state-owned company has discontinued all activities associated with the disinvestment of the company after the government dropped plans to privatise the firm for now. Accordingly, all the activities in connection with the disinvestment including the data room containing commercially sensitive information on the firm are being discontinued.
Bank of India: The public sector bank has changed its Repo-based Lending Rate (RBLR) to 7.75 percent with immediate effect, from 7.25 percent earlier.
Rail Vikas Nigam: The company has entered into an agreement with “Kyrgyzindustry” for the execution of infrastructure projects in Kyrgyz Republic. It will execute a railway line network on mutually agreed terms and conditions in Kyrgyz Republic.
Tata Elxsi: The IT company has opened a new technology development centre in Kozhikode, Kerala. The new centre will have state-of-the-art technology and product development facilities in EV, Connected Car, OTT, 5G, and Digital technologies.