Good morning!
The GIFT Nifty, an early indicator for the benchmark Nifty 50 remained flat at 23,331 as of 6:35 a.m. Equity-index futures for the US (S&P 500) and Europe (Euro Stoxx 50) dipped 0.38% and 0.33% respectively.
India Market Recap
Indian equity benchmarks resumed gains after a one-day breather, with the NSE Nifty 50 down 77.95 points, or 0.33%, at 23,405.60. The BSE Sensex fell 303.67 points, or 0.41%, to 74,346.17. TCS was the biggest drag on the Nifty 50, cutting 46.23 points from the index, followed by Infosys at 39.03 points. ICICI Bank added 28.97 points, while HDFC Bank and SBI contributed 18.79 points and 14.78 points, respectively, limiting the decline.
US Markets Recap
Wall Street opened on a mixed note on Wednesday as investors awaited more clarity on the West Asia conflict front and crude oil prices rose. The Dow Jones gave up over 230 points at open to trade 0.46% lower at 51,069.62, S&P 500 remained muted during open, and was trading 0.10% lower at 7,602.5, and the tech-heavy Nasdaq Composite at 27,102.16 levels, up by 0.03%.
Asian Market Update
Asia-Pacific markets opened lower on Thursday, after losses on Wall Street as renewed tensions between Iran and the U.S. kept oil prices elevated and raised concerns about energy costs and inflation.
South Korea’s Kospi fell 2%, while the small-cap Kosdaq rose more than 2% as trading resumed after a holiday. Japan’s Nikkei 225 declined 1.4% after reaching a record high in the previous session, while the Topix lost 0.91%. Australia’s S&P/ASX 200 fell 0.84%.
Commodity Check
Oil dropped after three days of gains after Israel and Lebanon agreed to a ceasefire if Hezbollah also stops hostilities. Brent fell toward $97 a barrel while West Texas Intermediate was around $95, after adding almost 10% in the first three sessions of the week.
ALSO READ: US Stock Market Today: Dow Sheds Over 400 Points As Oil Climbs; S&P 500, Nasdaq Slump
Business Update
Indian Energy Exchange (May Update):
Electricity traded volume rises 18.6% YoY to 12,983 MU
Day ahead market volume grows 25% YoY to 4,417 MU
Real time market volume increases 15.9% YoY to 5,529 MU
Average DAM price rises 18.3% to Rs. 4.88 per unit.
JBM Auto (May Update):
Records a 49% market share in the electric bus segment
Sells 157 e‑buses during the month
Stocks in news
Skipper: The company approves raising up to Rs. 433 crore via equity, including issuance of 92 lakh shares at Rs. 470 per share. The company incorporates a wholly owned subsidiary, Skipper Transmission & Distribution, in Abu Dhabi.
NBCC: The company secures orders worth Rs. 83.2 crore from three entities, including a Rs. 40 crore residential construction project from Canara Bank.
Niva Bupa Health Insurance: The board appoints Ashwani Bhatia as Chairperson.
Steel Strips Wheels: Mohan Joshi resigns as Deputy Managing Director due to personal reasons.
Jeena Sikho Lifecare: The company receives NABH accreditation for its Bhopal hospital.
LTM: The company launches a managed Secure Service Edge (SSE) solution with Cisco to support Gen AI deployment.
Restaurant Brands Asia: Lenexis Foodworks acquires an 18.07% stake, buying 12.9 lakh shares in the company.
Confidence Petroleum: Radiant Computech acquires an 8.5% stake in the company.
Indiabulls: The company plans to raise up to Rs. 1,000 crore via warrant issuance.
Central Bank of India: The bank appoints Vivek Kumar as Chief Financial Officer for a tenure of three years.
Karnataka Bank: The bank enables EPF payments integration on the EPFO portal via internet banking.
Aurobindo Pharma: The company’s arm inaugurates a biologics contract manufacturing unit, TheraNym, in Telangana.
Kirloskar Ferrous Industries: NCLT approves the merger of Oliver Engineering and Adicca Energy with the company.
ONGC: The government appoints Anupam Agarwal as Director (Finance).
Texmaco Rail & Engineering: The company’s stake in JV Touax Texmaco Railcar reduces to 34% from 50% following share issuance by Touax Rail to Trinity Rail.
Gujarat Fluorochemicals: The company’s arm incorporates GFCL EV New Age Materials in Oman.
Vedanta: MCA approves the name change of Talwandi Sabo Power to Vedanta Power.
HCLTech: The company is named among America’s Best Employers for New Grads by Forbes for the third consecutive year.
Jain Irrigation Systems: The company commissions a hi‑tech biochar unit in Maharashtra with a capacity of 20,000 tonnes per annum.
Hero MotoCorp: The company launches its first flex‑fuel motorcycles in the 100cc segment, including Splendor+ and HF Deluxe, priced at Rs. 82,710 and Rs. 72,792 respectively (ex‑showroom Delhi).
Ventive Hospitality: The company invests Rs. 50 crore to acquire 50 lakh OCDs in Soham Leisure Ventures.
Balrampur Chini Mills: The company plans to raise up to Rs. 450 crore via issuance of 93.2 lakh shares.
Tarsons Products: The company completes the second tranche of investment, infusing EUR 552,000 into its arm.
BHEL: The company secures an order worth Rs. 2,000–2,500 crore from a Nigerian client for eight gas turbine generator packages.
MedPlus Health: The company’s arm receives a one‑day drug licence suspension for a store in Telangana.
Kaveri Seed Company: ITAT will hear the appeal related to a Rs. 73.3 crore tax demand on December 7.
Lenskart (Block Deal): SoftBank’s SVF II Lightbulb sells 5.7 crore shares at Rs. 508.55 per share. Societe Generale and Goldman Sachs acquire 1.4 crore shares each.
Cupid: Aditya Kemar Halwasiya promoter acquired 21 lakh shares.
Infosys: The company enters into a partnership with the Lawn Tennis Association to deliver AI‑driven match insights and enhance fan engagement experiences.
HMA Agro Industries: Gulzeb Ahmed resigns as Chief Executive Officer and Whole‑Time Director. Mohammad Mehmood Qureshi also steps down as Managing Director, citing personal reasons.
HFCL: The company will invest Rs. 89.3 crore in its arm, HFCL Advance Systems, and divest an 80% stake in Raddef for Rs. 75 crore, transferring it to HFCL Advance Systems. The company will also transfer its thermal weapon sight (TWS) business to the arm and acquire a 100% stake in HFCL Defence for Rs. 25 crore.
AstraZeneca Pharma India: The company surrenders its factory licence to the Department of Factories. The licence was valid until December 31, 2026.
Pitti Engineering: The company reports machining capacity utilisation at around 81% and proposes to increase capacity to 10.8 lakh hours.
Jubilant Agri & Consumer Products: The company partially commences commercial production of polymer (adhesive) at its Vadodara unit.
Ideaforge Tech: The Company to raise funds up to Rs.500 Cr Via Equity, Others
IPO UPDATE
CMR Green Technologies
Non-ferrous metal recycler and secondary aluminium market, specializing in aluminium and zinc die-casting alloys
DAY 1
Overall subscription of 2.46 times
NIIs lead with 5.67 times
Retail subscription stands at 2.45 times.
Bulk & Block Deals
TruAlt Bioenergy: Dhruv Khush Business Ventures sold 5.90 lk shares at Rs. 507.18.
GMR Airports: FMRC Fidelity Advisor International Capital Appreciation Fund bought 14.92 cr shares at Rs. 97.75 each, Goldman Sachs Trust II sold 16.27 cr shares at Rs. 97.75 each
GMR Airports: Fidelity Investment Trust Fidelity International Small Cap FUND bought 19.5 cr shares, GQG Partners Emerging Markets Equity Fund sold 19.5 cr shares each at Rs. 97.75
Go Fashion India Ltd – Mahalakshmi Electronics Private Limited bought 5 lk shares at Rs. 366.23 each
Balu Forge Industries Ltd – Minerva Ventures Fund bought 6.25 lk at Rs. 486.04 each
Lenskart Solutions- SVF II Lightbulb (Cayman) Limited sold 5.65 cr shares, Societe Generale – ODI bought 1.37 cr shares, Goldman Sachs Bank Europe SE – ODI bought 71 lk shares, Goldman Sachs Bank EuropeSE bought 66.9 lk shares, Kotak Funds – India Midcap Fund bought 30.62 lk shares, ICICI Prudential Mutual Fund bought 23.5 lk shares, BNP Paribas Financial Markets – ODI bought 20 lk shares, Fidelity Funds – India Focus Fund bought 19.92 lk shares, Copthall Mauritius Investment Limited – ODI bought 18.9 lk shares, Mirae Asset Mutual Fund bought 16.77 lk shares, St. James’s Place Emerging Markets Equity Unit Trust bought 12.05 lk shares, Quant Mutual Fund bought 11.6 lk shares, HDFC Life Insurance Company Limited bought 11 lk share
Inventurus Knowledge Solutions: KEDAARA CAPITAL PUBLIC MARKETS IFSC FUND I bought 1.5 lk shares, Scott Hayworth sold 1.5 lk shares each at Rs. 1633
Board Meeting For Fund Raising
Satin Creditcare Network
SIGMA ADVANCED SYSTEMS
Artemis Medicare Services
Corporate Action
Bonus issue by Trent in 1:2 ratio
Insider trade
Paisalo Digital- SULABHYA PARAMITA acquired 15.5 crore shares , Pri Caf and Equilibrated Venture Cflow acquired 9 lk shares
Price band
Price Band change from 20% to 10: JOHN COCKERILL
Short Term ASM
List of securities shortlisted in Long – Term ASM Framework Stage: Aditya Infotech Limited, Sasken Technologies
List of securities shortlisted in Short – Term ASM Framework Stage: IFB Industries Limited, NIIT Limited, Network People Services Technologies Limited, Rubicon Research Limited
List of securities to be excluded from ASM Framework: Aditya Infotech Limited, Exicom Tele-Systems Limited, Sasken Technologies Limited, Veranda Learning Solutions Limited
F&O Cues
Nifty June futures is down -0.48% to 23,490 at a premium of 85 points.
Nifty Options 9th June Expiry: Maximum Call open interest at 24,000 and Maximum Put open interest at 22,000
Securities in ban period: AMBER, KAYNES
Photo Credit: NDTV Profit
Photo Credit: NDTV Profit
Currency Recap
The rupee weakened by 31 paise to settle at 95.67 against the US dollar (provisional) on Wednesday, pressured by a proposal from the US Trade Representative to impose an additional 12.5 per cent duty on Indian imports over alleged labour violations.
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