Pre Market Report: Dalal Street may open higher; Vodafone Idea, Bajaj Auto and IRB Infra in focus

Market Opening - An Overview

Nifty futures on the Singapore Exchange were trading 0.36% higher at 15,452, indicating that Dalal Street was headed for a positive start on Thursday.

Asian shares were mixed due to concerns over probable global recession and aggressive rate hikes by the Fed kept investors’ sentiments subdued. Japans Nikkei 225 index slipped 0.05% and Topix was flat. China’s Hang Seng rose 0.42% and CSI 300 index edged up 0.10%.

Indian rupee fell 3 paise to 78.39 against the US dollar on Wednesday.

FII/DII Trading Data

Stocks in News Today

Vodafone Idea: Vodafone Group will infuse an additional Rs 436 crore into Vodafone Idea Ltd (VIL) through equity shares or warrants. The fund-raise was approved in a board meeting on Wednesday. This is over and above the Rs 4,500 crore infusion by the promoters, Vodafone Group Plc and the Aditya Birla group.

Bajaj Auto: The company’s board will now meet on June 27, to consider the proposal for a share buyback. The company had deferred the buyback decision on June 14.

IRB Infra: The National Highways Authority of India (NHAI), after a Delhi High Court order, has paid Rs 308 crore to IRB Pathankot Amritsar Toll Road Ltd (IRPRL), a special purpose vehicle (SPV) of IRB Infrastructure Developers, over a dispute in payment related to the Pathankot-Amritsar project.

Bharat Petroleum Corporation (BPCL): The company has received approval from Ministry of Corporate Affairs for amalgamation of Bharat Oman Refineries with itself. The scheme of amalgamation will be made effective by both by filing copy of the order of the ministry with the jurisdictional registrar of companies.

NTPC: The state-run power company said it may have to add new coal power capacity to meet the country’s surging demand for electricity, a policy shift triggered by recent energy shortages, according to Bloomberg news report.

Quess Corp: The company’s board of directors have approved the merger of Allsec Technologies with Quess Corp.

Glenmark Pharma: The US FDA has issued the company form 483 with 6 observations for its Baddi Unit, which was inspected between June 13-22, 2022.

DCB Bank: The bank has appointed Satish Gundewar as the Chief Financial Officer (CFO) of the company effective July 1, 2022 and he will replace Bharat Laxmidas Sampat.

GPT Infraprojects: The company has bagged an order worth Rs 292 crore for execution of viaducts, major bridges, ROBs, supply of vehicle, site facilities & other allied works for Khurda Road – Bolangir New B G link project of East Coast Railway. This contract is in joint venture.