Get App
Market Opening - An Overview
Nifty futures on the Singapore Exchange were trading 0.37% higher at 15,334.50, signalling that Dalal Street was headed for a positive start on Friday.
Asian stocks were mixed amid fears of an economic downturn due to monetary policy tightening and high inflation. Japan’s Nikkei 225 tanked 2.17% and Topix slumped 2.03%. China’s Hang Seng rose 0.85% and CSI 300 index was up 0.35%.
The Indian rupee stood at 78.07 against the US dollar on Thursday.
FII/DII Trading Data
Foreign institutional investors (FIIs) have net sold Rs 3,257.65 crore worth of shares, whereas domestic institutional investors (DIIs) remained net buyers for Rs 1,929.14 crore worth of shares on June 16.
Stocks in News Today
Reliance Jio, Airtel and Vodafone Idea: Reliance Jio gained 16.8 lakh mobile subscribers in April, while Bharti Airtel added 8.1 lakh users, according to TRAI data. Vodafone Idea lost about 15.68 lakh mobile subscribers during April 2022. As per the data, Jio’s subscriber count stood at 40.5 crore, Bharti Airtel’s subscriber tally rose to 36.11 crore and Vodafone Idea’s base fell to 25.9 crore in April.
Meanwhile, the department of telecom (DoT) plans to hold 5G spectrum auction-related pre-bid conference on Monday (June 20). The government will also auction around Rs 4.3 lakh crore worth of airwaves capable of offering 5G services next month.
HDFC: The country’s largest mortgage lender said it has invoked 50 lakh pledged shares of Ansal Housing as part of recovery of its outstanding dues from the developer. Ansal Housing is engaged in the business of construction and development of residential townships and commercial complexes.
Tata Motors: The company’s Jaguar Land Rover (JLR) division faces headwinds due to lockdowns in China for Covid-19, supply chain issues caused by the war in Ukraine and difficult macroeconomic conditions. These problems may have an adverse impact on output and revenue in FY23, including the possibility of stopping production in some or all of its plants, Tata Motors said in its annual report.
Eveready Industries: The Burman family, promoters of Dabur India, have acquired 14.3% shares in Eveready Industries India, the country’s largest dry cell battery maker, in an open offer that concluded on Thursday. With this acquisition, Burmans’ holding in the company stands at 38.3%.
Tata Power Company (TPCL): The company plans to buy coal worth some Rs 12,000 crore from its Indonesian miner this financial year, saying the deal will give it the fuel without “interruptions”. The company owns a 30% stake in the mine and as the order will be a related-party transaction, it has sought its shareholders’ approval in the forthcoming meeting after its audit committee cleared the agreement.
IRB Infrastructure Developers: The company said that its special purpose vehicle and wholly-owned subsidiary Meerut Budaun Expressway Pvt Ltd has achieved the financial closure for the Rs 6,538-crore project in Uttar Pradesh. The Ganga Expressway Group 1 is a greenfield project to be carried out under Build, Operate and Transfer (BOT) mode.
Wipro: Eros Investments has signed an alliance agreement with Wipro, to evolve and scale the artificial intelligence (AI) and machine learning (ML) based content localization solution. The joint content localization service will be available to media and entertainment companies in two deployment models, namely, platform-as-a-service and private cloud deployment.
Dr Reddy’s Laboratories: Life Insurance Corporation of India acquired additional 2% equity stake in the company via open market transactions. With this, LIC’s shareholding in the company stands increased to 5.646 percent, up from 3.644 percent earlier.
Vakrangee: The company has entered into a seller agreement with Decathlon Sports India, a world leader in sports equipments, to offer a complete range of sports equipments and products to the unserved and underserved population of India. The company through its Nextgen physical Kendras and BharatEasy Mobile Superapp will now be able to provide sports equipment’s & products in remote areas of the country.
RITES: The company has secured orders worth Rs 364.56 crore for operation and maintenance of 20 numbers of shunting locomotives for a period of 10 years from Container Corporation of India.