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Market Opening - An Overview
Nifty futures on the Singapore Exchange were trading 0.12% higher at 18,835.50, signalling that Dalal Street was headed for a slightly positive start on Thursday.
Asian shares were mixed as investors reasssed the risks emanating from higher inflation and after global stocks fell following a sudden interest rate hike by Canada’s central bank. The Nikkei 225 index slipped 0.06%, while Topix inched uo 0.01%. The Hang Seng fell 0.15% and the CSI 300 index rose 0.33%.
Indian rupee rose 7 paise to 82.54 against the US dollar on Wednesday.
FII/DII Trading Data
Stocks in News Today
Tech Mahindra: Life Insurance Corporation of India has increased its stake in the IT services company to 8.88% from 6.87%, via open market transactions in the last six-month period. The average buying price for these shares stood at Rs 1,050.77 per share.
Tata Elxsi: The Tata Group company has partnered with the Indian Space Research Organisation (ISRO) to enable the upcoming Gaganyaan Mission. With this partnership, Tata Elxsi has designed and developed Crew Module Recovery Models (CMRM) for recovery team training of the space mission. Further, the company expanded its automotive and smart mobility focus in North America with the launch of an innovation hub and nearshore engineering centre in Troy, Michigan.
Wipro: The IT company has launched a managed private 5G-as-a-Service solution in partnership with Cisco. The new offering enables enterprise customers to achieve better business outcomes through the seamless integration of private 5G with their existing LAN/WAN/Cloud infrastructure.
Jindal Poly Films: The polyester & polypropylene films manufacturer has entered into an agreement to acquire 100% shareholding in Netherlands-based firm JPF Netherlands Investment BV. JPF is engaged in the business of packaging films business through its three operational wholly-owned subsidiaries based out of France, Italy, and the United Kingdom.
Zydus Lifesciences: The pharma company has received final approval from the United States Food and Drug Administration (USFDA) for Tadalafil tablets. Tadalafil relaxes muscles of the blood vessels and increases blood flow to particular areas of the body. The tablet helps to treat pulmonary arterial hypertension and improve exercise capacity in men and women.
Mazagon Dock Shipbuilders: The state-owned shipbuilding company has signed a non-binding MoU with Thyssenkrupp Marine Systems, for cooperation and preparation for submarine project P75-I, in India. Thyssenkrupp Marine Systems would contribute to the engineering and design of the submarines as well as the consultancy support to this joint project, while Mazagon Dock would take responsibility for constructing and delivering the respective submarines.
Punjab & Sind Bank: The lender’s board will meet on June 12 for considering the proposal for raising capital up to Rs 750 crore through the issuance of Basel-III compliant additional Tier-1 bonds or Tier-IT bonds, in one or more tranches within a period of 12 months from the date of approval.
Lemon Tree Hotels: The hotel chain has signed a license agreement for a 60-room property at Rajamundry in Andhra Pradesh. The hotel is expected to be operational by the third quarter of FY25. The company’s subsidiary — Carnation Hotels — will be operating this hotel.
Sula Vineyards: The wine producer has identified a new chief financial officer, who will come on board in August. Further, the company has launched three new luxury villas at Beyond Resort in Nasik.
Stove Kraft: The company said that its Chief Financial Officer Balaji A S has resigned due to personal reasons. The company is in the process of hiring a professional for the position of chief financial officer
Gati: The total volume, including surface and air express, rose 8% sequentially in May 2023. It rose 1% from the year-ago period. The company said volumes in May continued to show an improving trend owing to an uptick in preparations for the upcoming festive season starting in the last week of May. The rise in volumes is expected to continue over the coming months.
Aether Industries: The company has signed a Letter of Intent with US-based oil field services company for strategic supplier and contract manufacturing partnership. The letter specifies four strategic products that will be supplied to the global energy and oil and gas locations of the U.S. based company, including a significant supply within India.
Titagarh Wagons: The board will meet on June 10 to consider a proposal to raise funds by issuing equity shares or other securities through preferential issue, qualified institutional placement, rights issue, or through any other permissible mode.
Hatsun Agro Product: The board of directors of the dairy producer will meet on July 5, to consider the sale of its windmill division via transfer of all the assets and liabilities related to division on a ‘slump sale’ basis to the prospective buyer at a price mutually agreeable to the company and the buyer.
Snowman Logistics: The company’s promoter, Gateway Distriparks, has acquired an additional 11 lakh shares or 0.65% stake in the logistic company at an average price of Rs 40.02 per share.