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Market Opening - An Overview
Nifty futures on the Singapore Exchange were trading 0.11% lower at 17,949, signalling that Dalal Street was headed for a negative start on Thursday.
Asian stocks were trading lower, tracking the US markets overnight, as investors booked profits and due to economic growth concerns. Japan’s Nikkei 225 index dropped 0.99% and Topix fell 0.83%. China’s Hang Seng lost 0.31% and CSI 300 was down 0.4%
The Indian rupee strengthened by 21 paise to 79.45 against the US dollar on Wednesday.
FII/DII Trading Data
Stocks in News Today
Reliance Jio, Airtel and Vodafone Idea: Reliance Jio added 42.23 lakh new mobile customers in June, while Airtel only gained 7.9 lakh customers and Vodafone Idea continued its losing streak as it lost 18 lakh users, according to Trai data for the month. With these gains Jio’s total wireless subscriber count stood at 41.3 crore. Airtel and Vodafone Idea had 36.29 crore and 25.66 crore users, respectively.
In other news, Reliance Jio and Vodafone Idea paid Rs 7,864 crore and Rs 1,680 crore, respectively. Adani Enterprises, which has acquired spectrum for captive private networks, is reported to have paid Rs 18 crore.
Oil and Natural Gas Corp (ONGC): The state-owned oil explorer and producer said that it signed a Heads of Agreement (HoA) with global petroleum giant ExxonMobil Corp for deepwater exploration in India’s East and West coasts. “The collaboration areas focus on the Krishna Godavari and Cauvery Basins in the eastern offshore and the Kutch-Mumbai region in the western offshore. There has been a scientific exchange of exploration data in the last few years, which has led to this partnership,” ONGC said in an exchange filing.
GAIL (India): The public sector company received the board approval for additional fundraising of $3.125 billion via external commercial borrowing and up to Rs 25,000 crore via non-convertible debentures. The new fund raising comes on top of Rs 25,000 crore already borrowed by the company.
Sona BLW Precision Forgings: Blackstone is expected to sell 10.87% stake in Sona BLW Precision Forgings via block trade on Thursday, Bloomberg news reported. The floor price is set at Rs 500 apiece, a 7.3% discount on Wednesday’s closing price and the total deal is likely to fetch Blackstone about Rs 3972 crore.
RBL Bank: The lender said that it has offloaded over 12 per cent stake in Kilburn Engineering since May for a total consideration of over Rs 17 crore. The private sector bank had acquired 67,50,000 equity shares of Kilburn Engineering (Kilburn) under a debt recast plan.
In a separate exchange filing, the bank said it has convened a board meeting on August 22 to consider a proposal to raise funds by issuing debt securities on private placement basis. However, the bank did not mention the size of the fund raising.
Natco Pharma: The company in an exchange filing said that it has received a tentative approval for its abbreviated new drug application (ANDA) for Trabectedin for injection for the 1mg/vial. Trabectedin is a generic drug for Yondelis. Yondelis generated annual sales of $49.7 million for 12 months ending June 2022 in the US market, according to industry sales data.