Get App
Market Opening - An Overview
GIFT Nifty on the NSE IX were trading 0.06% higher at 19,451, signalling that Dalal Street was headed for muted start on Tuesday.
Most Asian shares were trading lower on profit booking and as investors stayed on the sidelines. The Nikkei 225 index fell 1.06% and the Topix fell 0.73%. China’s CSI 300 index slipped 0.06% and the Hang Seng rose 0.3%.
Indian rupee rose 9 paise to 81.95 against the US dollar on Monday.
HMA Agro Industries will make its stock market debut. The final issue price has been fixed at Rs 585 per share.
FII/DII Trading Data
Stocks in News Today
Reliance Industries (RIL): Reliance Jio launched an internet enabled phone JioBharat at Rs 999. The beta trial for the first 1 million JioBharat phones will begin from July 7. It includes unlimited voice calls and 14 GB data Rs 123 per month. Other phone brands including Karbonn, will adopt the Jio Bharat platform to build Jio Bharat phones.
Adani Transmission: GQG Partners bought an additional 3% stake worth Rs 2,633 crore in Adani Transmission. Its shareholding in the company increased to 6.54% from 3.54% earlier. The securities were acquired through the stock exchange settlement process by the way of bulk deal.
Bajaj Finance: The new loans booked during Q1FY24 grew by 34% to 99.4 lakhs compared to 74.2 lakhs in Q1FY23. Deposits stood at approximately Rs 49,900 crore as of June 2023, up 46% from Rs 34,102 crore as of June 2022. Assets under management increased by 32% to Rs 2.7 lakh crore in Q1FY24 against same period last year. Consolidated net liquidity surplus stood at Rs 12,700 crore as of June 2023.
IndusInd Bank: IndusInd Bank promoter IndusInd International Holdings Ltd approved fundraise of $1.5 billion. These funds are to be used to fund Reliance Capital’s Rs 9,650 crore buyout. IIHL also agreed to raise the stake in IndusInd Bank to 26% from 15%.
Adani Green Energy: The board will consider approving fundraising via issue of equity shares or any other mode including private placement, QIP and preferential issues on July 6. Adani Green Energy had cancelled the meeting in May on account of non-availability of directors.
Avenue Supermarts (D-Mart): The operator of hypermarkets chain D-Mart has clocked a 18.1% year-on-year growth in standalone revenue at Rs 11,584.44 crore for the quarter ended June FY24, up from Rs 9,806.9 crore in same period last year. The total number of stores as of June 2023 stood at 327.
Vedanta: The company’s cast metal aluminium production increased by 2% YoY and 1% QoQ to 579kt (kilo tonnes) due to efficiency in the operations. The cmpany’s highest-ever metal production in Q1FY24 rose by 2% YoY to 257kt driven by higher ore production, primarily at Rampura Agucha and Kayad mines, improved mined metal grades, and better mill recovery.
IDFC First Bank: The lender said its board members have approved the amalgamation of IDFC with the bank. The share exchange ratio for the amalgamation will be 155 equity shares of IDFC First Bank for every 100 equity shares of IDFC. As a result of the proposed merger, the standalone book value per share of the bank would increase by 4.9% as per financials FY23.
Lupin: The pharma company has received approval from the United States Food and Drug Administration (US FDA) for its abbreviated new drug application for Cyanocobalamin nasal spray. Cyanocobalamin is a generic equivalent of Nascobal nasal spray, which is available in the strength of 500 mcg per spray, of Par Pharmaceutical Inc. This product will be manufactured at Lupin’s Somerset facility in the US.
Tube Investments: The company’s unit TI Clean Mobility has signed an agreement with Jayem Automotives’ promoter Anand Jayachandran to foray into electric small commercial vehicle business. TI Clean Mobility (TICM) will invest Rs. 160 crore and Anand Jayachandran will invest Rs. 40 crores in the form of equity in a subsidiary. to be incorporated by TICM. It also inked a pact to acquire a 50% stake in Jayem Automotives. The acquisition will be done through a combination of equity buyout from promoters and subscription to fresh equity shares aggregating up to Rs 206 crore.
Oil India: The company revised project capital cost of Numaligarh Refinery to Rs 7,231 crore from Rs 6,555 crore.
Torrent Power: The company is implementing Green Hydrogen Pilot Project to blend in CGD. The Gorakhpur based project will be completed in eight months. It will mix 2.5% in the CGD network. Aims to become end-to-end green hydrogen solutions provider to the Commercial and Industrial consumers. Envisages plan to develop green ammonia for exports purpose.
Hindustan Zinc: The company’s metal production in the first quarter of FY24 rose 2% year-on-year to 257 kilo tonnes. Saleable steel production remained unchanged at 260 kilo tonnes. Wind power generation was down 13% year-on-year to 130 million units.
Sula Vineyards: The company has appointed Karan Vasani as the chief operating officer of the company. The appointment of Vasani was followed by the resignation of the present COO, Chaitanya Rathi.
Genus Power Infrastructures: The company won an order worth Rs 2,207.53 crore for installation and commissioning of 27.69 lakhs smart prepaid meters.