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Market Opening - An Overview
Nifty futures on the Singapore Exchange were trading 0.28% higher at 18,863, signalling that Dalal Street was headed for positive start on Wednesday.
Japanese shares were trading higher, tracking the US markets after stronger-than-expected data eased investor concerns over an impeding economic recession. The Nikkei 225 index rose 0.93% and the Topix jumped 1.125. Meanwhile, Chinese markets were trading lower. The Hang Seng slipped 0.07% and the CSI 300 index 0.44%.
Indian rupee inched up 1 paise to 82.03 against the US dollar on Tuesday.
FII/DII Trading Data
Stocks in News Today
Infosys: The IT services company has signed a Memorandum of Understanding with Skillsoft, a learning experiences provider, to revamp education and learning for students from class 6 to lifelong learners in India.
Housing Development Finance Corporation (HDFC): The company has acquired a 0.69% equity stake in its subsidiary HDFC Life Insurance Company through open market transactions. As per the bulk deals data available with the exchanges, HDFC has purchased 1.49 crore equity shares in the life insurance company at an average price of Rs 667.1 per share totalling Rs 992.64 crore.
State Bank of India (SBI): The country’s largest bank has received approval from its Executive Committee of the Central Board for acquiring the entire stake held by SBI Capital Markets in SBI Pension Funds, subject to receipt of regulatory approvals.
Titagarh Rail Systems: The company has received a Letter of Acceptance (LOA) from the Gujrat Metro Rail Corporation (GMRC), for design, manufacture, supply, testing, commissioning and training of 72 standard gauge cars for Surat Metro Rail Phase-I. The order value of the project is about Rs 857 crore and execution would start 76 weeks after signing the contract. The project is scheduled to be completed in 132 weeks thereafter.
TCNS Clothing: The Competition Commission of India has approved the acquisition of TCNS Clothing by Aditya Birla Fashion and Retail. The Aditya Birla Group company will acquire 51% shareholding in TCNS.
Swan Energy: The cotton and polyester textile products manufacturer has received board approval for issuance of up to 2.3 crore equity shares at a price of Rs 300 per share or at a price not lower than the minimum price, whichever is higher, on a preferential basis to the non-promoter. This is subject to the approval of members in the Extra Ordinary General Meeting.
Gland Pharma: The United States Food and Drug Administration (US FDA) has issued one 483 observation for Pashamylaram facility in Hyderabad. This observation is procedural in nature. The US FDA has conducted pre-approval inspection (PAI) for the company’s seven products and good manufacturing practice (GMP) inspection at Pashamylaram facility in Hyderabad between June 15 and June 27, 2023.
ITC: The company has acquired 857 compulsorily convertible preference shares of Rs 10 each from Mother Sparsh for a consideration of Rs 11.54 crore. ITC now holds 26.50% of Mother Sparsh’s share capital.
Meghmani Finechem: The company has commissioned its wind-solar hybrid power plant of about 18.34 megawatts and said the power flow has started.
Vedanta: Vedanta-Foxconn joint venture has re-submitted an application to set up an electronic chip manufacturing plant, the joint venture company said on Tuesday.
LTIMindtree: The company is likely to get added in the Nifty50 group of stocks due to the delisting of mortgage lender HDFC.
Orchid Pharma: The pharma company said the board members have approved the closure of the QIP issue (qualified institutional placement) on June 27, and finalised the issue price of Rs 403.93 per share, which is at a discount of 5% on the the floor price of Rs 425.19 per share.
Star Housing Finance: The rural-focused housing finance company has announced appointment of Kalpesh Dave as the Chief Executive Officer and Anoop Saxena as the Chief Operating Officer.