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Market Opening - An Overview
Nifty futures on the Singapore Exchange were trading 0.28% lower at 17,440.50, signalling that Dalal Street was headed for a negative start on Tuesday.
Asian shares were trading lower as investors were worried over aggressive rate hike by the US Federal Reserve to curb inflation. Japan’s Nikkei 225 index fell 1.17% and Topix index dropped 0.965. China’s Hang Seng was down 0.78% and CSI 300 index lost 0.75%.
Indian rupee fell 9 paise to 79.87 against the US dollar on Monday.
FII/DII Trading Data
Stocks in News Today
Infosys: The IT services company has reduced the average variable payout of employees to about 70 per cent for the June quarter amid margin squeeze and high employee costs. The decision was communicated to all the employees through an email.
NTPC: The power generation company has declared first part capacity of 10 MW out of 20 MW Gandhar Solar PV project at Gandhar, Gujarat, on commercial operation. With this, standalone installed and commercial capacity of NTPC will become 55,099 MW, while group installed and commercial capacity of NTPC will become 69,464 MW.
IIFL Finance: The company said the board of directors of its subsidiary IIFL Home Finance has approved the allotment of its 53,76,457 equity shares to the subsidiary of Abu Dhabi Investment Authority. With this, the investor will hold 20% shareholding in IIFL Home Finance. The company received Rs 2,200 crore from investor against the said transaction.
TVS Electronics: The company executed business transfer agreement with GTID Solutions Development for acquiring their business and intellectual property rights for Rs 2.25 crore. With this agreement, TVS enters into mobile POS software solutions and authentication solutions space, offering hardware along with required applications, digital payment solutions, cloud computing software solutions etc. to segments like retail, banks and government.
Lemon Tree Hotels: The hospitality company has signed a license agreement for a 65 room hotel at Hubli, Karnataka under its brand ‘Lemon Tree Hotel’. The hotel is expected to be operational by May 2023. Its hotel management subsidiary Carnation Hotels will be operating this hotel.
RBL Bank: The board of directors of the private sector lender has approved issue of debt securities on private placement basis up to an amount of Rs 3,000 crore. This is subject to the approval of the members of the bank at the ensuing annual general meeting.
Gillette India: The company’s net profit rose 145.51% to Rs 67.59 crore in the quarter ended June 2022 as against Rs 27.53 crore during the year-ago period. Sales rose 26.82% to Rs 552.89 crore in the quarter ended June 2022 as against Rs 435.98 crore during the same quarter a year ago.