Market Highlights

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Get the latest Indian stock / share market highlights, BSE/NSE stock news, business research reports & details - updated daily by Money Times.

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June 19, 2024

• News Headlines from Business News Agencies:
• Business Standard
• Alembic gets USFDA nod for generic injection to treat hereditary angioedema
• Gruner to set up compressed biogas plant in Gujarat at Rs 220-cr investment
• FMCG companies increase prices to maintain margins due to high input costs
• China's May industrial output lags expectations, retail sales a bright spot
• Gold, silver import from UAE surges 210%, need duty revision in FTA: GTRI
• StanChart fails to cut US sanctions breach claims from London lawsuit
• FDI, R&D, manufacturing key to achieve $5 bn defence export: Study
• Adani gets environmental nod for Rs 45,000 cr Mundra port expansion
• AstraZeneca chemotherapy gets US nod for certain type of endometrial cancer
• Apple Intelligence gradual rollout to push AI-backed Siri for 2025: Report
• SoftBank Group-backed Oyo in talks to raise Rs 1,000 cr from family offices
• Economic Times
• IFC to fund $105 mn for Brookfield’s Bikaner Solar Power Project
• Mahindra Lifespace eyes Rs 8-10K crore sales in housing, industrial spaces by FY28
• RBI cancels licence of Purvanchal Co-op Bank, Ghazipur
• Dairy brand Sid's Farm appoints Sunil Potturi as new Chief Technology Officer
• 20% monsoon deficit adds to India's sweltering heatwave troubles
• Centre proposes ESZ for villages on fringes of Bhitarkanika National Park
• Lupin appoints Abdelaziz Toumi as CEO of newly formed arm
• EU cybersecurity label should not discriminate against Big Tech, European groups say
• Landmark EU nature restoration plan gets final approval as bloc gives the green light
• FPIs offload Indian equities worth Rs 3,064 crore in June so far
• China's central bank leaves key policy rate unchanged as expected
• Mint
• Royalty dispute: Nestle India highlights significant gains from parent's IPRs
• Railways to float ₹5,000 crore tender for Kavach safety system
• Zomato confirms discussions with Paytm regarding its movies and events business
• VentureSoul Partners launches ₹600 crore tech-focused debt fund
• Reserve Bank of India wins risk manager of the year award 2024
• I Squared Capital, Stonepeak eye Vodafone’s Indus Towers stake in $2.3 bn deal
• Tata Motors puts pedal to the metal but margin, market share concerns remain
• FPIs slash bearish bets ahead of Union budget, set stage for rally
• German Chamber in China Says EU Tariffs Won’t Protect Automakers
• Flipkart's q-commerce entry weeks away, will take on Zepto, Blinkit, Instamart
• UBS on Zomato
• Buy, TP Rs 250
• Confirmed discussions to acquire Paytm’s ticketing business
• This fits in well with Zomato’s "Going-Out" offering
• Back-of-the-envelope calculation suggests reasonable valuations
• Bernstein on Bajaj Fin
• Initiate - Market perform, TP Rs 6800
• While see a still healthy growth ahead, see room for consensus earnings cuts given several headwinds.
• Expect an earnings CAGR of 21% (FY24-26) and value BAF on PE (24x FY25E EPS)
• Bernstein on IndusInd BK
• Initiate O-P, TP Rs 1800
• See IndusInd as a quasi-NBFC given its NBFC-like loan book composition & weak deposit franchise
• Bank is well positioned for a potential rate easing cycle & has high exposure to attractive segments (CVs, Microfin)
• Bernstein on Muthoot Fin
• Initiate O-P, TP Rs 2000
• See a long & shiny road ahead for gold loans, a unique segment in India arising from Indian households’ insatiable love for gold & its use as collateral for borrowing
• Muthoot is best play in segment
• Macquarie on Tech Mahindra
• U-P, TP Rs 950
• With a service and vertical portfolio inferior to its peers, struggle to see how TechM can grow faster than likes of LTIM, HCLT & TCS.
• MS on Crompron Cons
• EW, TP Rs 323
• AR analysis
• Management expects electrical consumer durables industry to grow in 7-9% in F25e.
• Consumer preferences are shifting with higher demand for premium, energy efficient and technology advanced products
• CLSA on Varun Beverages
• Buy, TP Raised to Rs 1977
• Increased affordability, new territories & products to sustain growth
• Improved affordability compared with tea, coffee & fruit juices
• Acquisitions keep growth engine humming
• Raise target multiple from 48x to 59x
• 50,000 crs export Target is very modest. It will be achieved much earlier.
• India Daybook – Stocks in News
• Infosys: Company has launched Infosys AsterTM, an AI-amplified marketing suite that enhances brand experiences, marketing efficiency, and business growth. (Positive)
• Vedanta: Company expects monetization of its steel and raw materials business, to be completed in first half of FY 2024-25. (Positive)
• Seamec: Company owns and operates 4 multi-support vessels for diving services and subsea operations and has expanded into main fleet shipping with 3 acquired bulk carriers. (Positive)
• Tata Technologies: Company collaborates with Microsoft and Tata Motors for InnoVent hackathon for engineering students. (Positive)
• Sona BLW: Company says received certification for its traction motor for electric 3-wheelers under production- linked incentive scheme (Positive)
• PDS Limited: Company unit entered into share purchase agreement with abhinav gupta buyer, agreement for proposed sale of entire equity stake held by MTGL in blueprint design (Positive)
• NGL Fine: Company received certificate of suitability from European directorate, company says certificate of suitability for quality of medicines & healthcare for its product triclabendazole (Positive)
• HG Infra: Company Received a Letter from South Central Railway Worth 447 Cr Rs (Positive)
• Snowman: Promoter Gateway Distriparks acquired 3 lakh shares of the company from the open market or 0.18% of the total equity. (Positive)
• Tata Motors: JLR and Chery sign LoI to license Freelander Brand to CJLR for creation of EVs in China (Positive)
• Prestige Estates: Company's board of directors are meeting on June 21 to consider and approve raising funds through QIP, preferential issue, rights issue or any other form. (Neutral)
• Craftsman Automation: Company board approves raising up to Rs 1,200 crore via QIP. (Neutral)
• LIC: Company clarifies that report on selling land to raise up to $7 billion is incorrect (Neutral)
• BLS E-Services: Company to make initial investment of approximately Rs 71 crore in Aadifidelis Solutions (Neutral)
• Grasim: Company says Birla opus launches its new thematic communication and embarks on a journey to make life beautiful (Neutral)
• Bharat Forge: Company makes additional investment of $40 million in unit Bharat Forge America (Neutral)
• LIC: Company clarifies that no formal proposal has been initiated to enter health insurance market. (Neutral)
• Dalmia Sugar: Company fixed July 3 as the record date for the purpose of final dividend for the year 2023-24. (Neutral)
• Marico: Mitsubishi UFJ Financial Group sells indirect interest in Marico.. (Neutral)
• HUL: Asian Palm Oil Alliance, expresses concerns over HUL's reported intention to cut palm oil content in soaps by 25%. (Neutral)
• Zee Entertainment: Company CFO Rohit Kumar Gupta steps down.. (Neutral)
• Indus Tower: Vodafone PLC to sell stake in co via block deals, Block deal launched to sell 10% stake in company (Neutral)
• Tamilnad Mercantile Bank: Submits application to RBI with the names of 3 candidates for the appointment of MD & CEO (Neutral)
• PNB Housing Finance: Company appoints Vikas Rana as Head of Construction Finance effective June 18 (Neutral)
• AMI Organics: Company opens QIP, sets floor price at Rs 1,228.71/share. (Neutral)
• ZF Commercial: Wabco Asia likely to sell 5% equity of ZF Commercial Vehicle Control Systems India in a block deal. (Negative)
• Gland Pharma: Fosun Pharma Industrial Pte will cut its stake in India's drug company through block deals after being unable to offload it in one go. (Negative)
• Sansera Engineering: Client Ebene and CVCIGP II Employee Ebene are likely to divest up to 6.25 million shares, equivalent to an 11.66% equity stake. (Negative)
• Bulk/Block:
• Quick Heal Technologies Ltd(Internal) - Buy - Anupama Kailash Katkar (5.82mn shrs @ 489)
• Sell - Kailash Sahebrao Katkar (5.82mn shrs @ 489)
• Alkem Laboratories Ltd - Sellers - Rajesh Kumar (1mn shrs @ 4950.22),
• Rajeev Ranjan (1mn shrs @ 4950)
• Agro Tech Foods Ltd - Buyers - Ohm Core Investment Corp (595k shrs @ 665.85),
• Ohm Stock Broker Pvt Ltd (131k shrs @ 666.20)
• Sellers - Pari Washington Investment Fund (487k shrs @ 665.41),
• Pari Washington India Master Fund, Ltd (1.1mn shrs @ 666.28)
• DCX Systems Ltd - Sell - Raghavendra Rao Hosakote Shamarao (1.5mn shrs @ 358)
• Kalpataru Projects International Ltd - Buy - Custody Bank Of Japan Ltd Re Rb Amundi India Small Cap Equity Mother Fund (910k shrs @ 1150)
• Sell - Kalptaru Constructions Pvt Ltd (8.7mn shrs @ 1153.99)
• One Global Service Provider Ltd - Buy - Ag Dynamic Funds Limited (200k shrs @ 122.38)
• Sell - Samirahmed Mustak Shaikh (245k shrs @ 122.38)
• One 97 Communications Ltd - Buy - Bnp Paribas Financial Markets (586k shrs @ 425.05)
• Sellers - Marshall Wace Investment Strategies - Eureka Fund (586k shrs @ 425.05),
• Goldman Sachs (Singapore) Pte.- Odi (4.42mn shrs @ 415.04)
• Protean EGov Technologies Ltd - Buy - Equity Intelligence India (295k shrs @ 1199.50)
• Radiant Cash Management Services Ltd - Sell - Ascent India Fund Iii (1.2mn shrs @ 81.54)
• Sudarshan Pharma Industries Ltd - Buyers - Shri Ganesh Investments (302k shrs @ 79.81),
• Maa Vaishno Venture (131k shrs @ 79.93)
• Sellers - Piyush Securities Pvt Ltd (160k shrs @ 79.70),
• Neelam Sethia (274k shrs @ 79.80)
• Jindal Stainless Limited - Buyers - Eriska Investment Fund Ltd (150k shrs @ 814.35),
• Griffin Growth Fund Vcc (250k shrs @ 814.35)
• Sell - Albula Investment Fund Ltd (400k shrs @ 814.35)
• Samvrdhna Mthrsn Intl Ltd - Buy - Motherson Engineering Research & Integrated Technologies Limited (825k shrs @ 180)
• Sell - Soni Arvind (825k shrs @ 180)
• Shriram Finance Limited - Buy - Bnp Paribas Financial Markets (1.47 shrs @ 2732.15)
• Sell - Marshall Wace Investment Strategies - Eureka Fund (1.47mn shrs @ 2732.15)
• Aimtron Electronics Ltd - Sell - Vishal Bipinkumar Doshi (180k shrs @ 355.80)
• Amber Enterprises (I) Ltd - Sell - Ascent Investment Holdings Pte.Limited (500k shrs @ 4003.91)
• Fiem Industries Limited - Sellers - Aanchal Jain (500k shrs @ 1225.08),
• Rahul Jain (500k shrs @ 1225.21)
• Ideaforge Techno Ltd - Sell - Celesta Capital Ii Mauritius (358k shrs @ 768.08)
• Le Travenues Technology Ltd - Buyers - Nomura Funds Ireland Public Limited Company - Nomura Funds Ireland - India Equity (4.55mn shrs @ 159.09),
• The Nomura Trust And Banking Co. Ltd As The Trustee Of Nomura Indian Stock Mother Fund (2.15mn shrs @ 159.09)
• NCL Industries Limited - Sell - Narasimha Raju Penmetsa (250k shrs @ 240.29)
• Nandan Denim Limited - Buy - Venkatakondraju Praveenvarma Bhupathiraju (987k shrs @ 49.11)
• Sell - Kantilal Chhaganlal Securities Pvt. Ltd (690k shrs @ 48.77)
• Nitco Limited - Sell - Jm Financial Asset Reconstruction Company Limited (366k shrs @ 88.30)
• Osia Hyper Retail Ltd - Sell - Nova Global Opportunities Fund Pcc - Touchstone (4mn shrs @ 23.66)
• Ratnaveer Precision Eng Ltd - Sell - Basava Sankara Rao Kolli (245k shrs @ 125.60)
• Spandana Sphoorty Fin Ltd - Buy - Goldman Sachs Funds - Goldman Sachs India Equity Portfolio (1.03mn shrs @ 760)
• Sell - Padmaja Gangireddy (1.4mn shrs @ 760.28)
• TCNS Clothing Co. Limited - Sell - Ta Fdi Investors Limited (1.34mn shrs @ 550.42)
• TruCap Finance Limited - Sell - Chirag Narendra Modh (866k shrs @ 50.22)
• MUMBAI: A 60-year-old retiree from the western suburbs recently lost Rs 2.6 crore to an online share trading fraudafter being added to a WhatsApp group that offered tips and avenues for investment. In his police complaint, the man said he was added to the groupn Dec 2023 that had multiple admins. One of them told him that they invest money in the share market through a private American company and lured him. The accused sent him a link to a virtual account and told him to send his money to their bank accounts. The retiree followed the instructions and in Feb, he sent Rs. 50,000 to them. His virtual account showed him profits. He kept sending more money, totalling Rs 2.6 crore. Later, an admin told him that the company had suffered losses and needed 20% of his investment. He asked for the rest of the money. The accused refused and then went incommunicado. The man then approached police.
• U.S. MARKET CLOSE TODAY - NEXT 2 Days Big Volatile
• “Part of the game of investing is to 'come into your own.' You must find some way that perfectly fits your personality.” — Li Lu
• Trade Setup for June 19: Will banks aid a decisive Nifty move towards 24,000 and beyond? - CNBC TV18
• Out of the 90 points that the Nifty added on Tuesday, more than half of those or 45.3 points came from the two banking heavyweights - HDFC Bank and ICICI Bank.
• FM Sitharaman to hold pre-budget consultations with state FMs and industry stakeholders - CNBC TV18
• The budget for 2024-25 fiscal is likely to be presented in Parliament in the second half of July.
• Priyanka Gandhi — Congress strategist, campaigner, crisis manager, says expert - CNBC TV18
• Rasheed Kidwai, a senior journalist points out that electoral success is the true test for any politician, and Priyanka's role as a Lok Sabha MP will not only increase her responsibility towards her voters but also position her as a significant force within…
• PM-KISAN scheme: PM Modi releases ₹20,000 crore, benefiting 9.26 crore farmers - CNBC TV18
• Modi announced the release at the PM Kisan Samman Sammelan in Varanasi. This marked his first visit to Varanasi, his Lok Sabha constituency, after assuming office for the third consecutive term.
• Fosun Pharma to pare 5% stake in Gland Pharma for $172 million - CNBC TV18
• Shares of Gland Pharma Ltd ended at ₹1,847.65, up by ₹0.050, or 0.0027% on the BSE.
• M&M enters the top 15 auto makers in the world with $44.2 billion market cap, shares climb to record - CNBC TV18
• While Tesla Inc tops the market capitalisation league table with a valuation of about $600 billion, Japan's Toyota Motor Corporation occupies the second spot with a market capitalisation of $306 billion.
• #CNBCTV18Exclusive | #GST Council may consider to add a sunset clause for anti-profiteering cases, sources to @TimsyJaipuria
• #CNBCTV18Exclusive | GST council likely to consider including a new form GSTR-1A. New form is considered for amendment &declaring additional details to Form GSTR-01, sources to @TimsyJaipuria
• #NewsFlash | Fitment Committee proposes GoM on rate rationalisation study GST on tobacco products (cigs, bidis, smokeless tobacco products), sources to @TimsyJaipuria
• #CNBCTV18Exclusive | GST Council Likely To Set Monetary Limits For Cases To Be Taken Up By GSTAT, High Court & Supreme Court, sources to @TimsyJaipuria
• KAVACH EXPOSURE STOCKS
• Kec International
• Kernax Microsystm
• BEL
• Kayness tech
• Railtel
• HFCL
• Hbl Power
• Avalon tech
• MANGALAM DRUGS AND ORGANICS: CO APPROVED SCHEME OF MERGER BY ABSORPTION OF MANGALAM LABORATORIES, SHRI JB PHARMA WITH MANGALAM DRUGS AND ORGANICS
• TAMILNAD MERCANTILE BANK: CO SAYS FINALIZED NAMES OF 3 CANDIDATES, IN ORDER OF PREFERENCE, FOR POSITION OF MANAGING DIRECTOR AND CEO OF BANK
• FII BUY NET RUPEES 2,569.40 CR OF INDIA SHARES TODAY || DII BUY NET RUPEES 1,555.73 CR
• Gujarat to Delhi, these states and UTs extracted more groundwater than others
• PM-KISAN scheme: PM Modi releases ₹20,000 crore, benefiting 9.26 crore farmers
• #JUBLPHARMA: The company's US-based arm to voluntarily prepay a term loan worth Rs 626crore and the company's arm to invest $50 million to expand its radiopharmacy network in the US
• #LUPIN: The company Chief Executive Officer of the Company’s newly formed subsidiary, Lupin Manufacturing Solutions (‘LMS’).
• #BHARTIARTL: Wynk Studio artists’ songs surpass 1.7+ billion streams on Wynk Music.
• #KOTAKBANK: plans to focus on brick-and-mortar business strategies and aims to open 170-200 branches in 2024-25.
• #NTPC: The Board of Directors of National High Power Test Laboratory Pvt. Ltd. (NHPTL) has approved the transfer of 1,31,63,750 from NTPC Ltd. to Power Grid Corporation of India Ltd. in line with the supplimentary joint.
• #LT: L&T Construction Wins (Significant) Orders for Buildings & Factories Business.
• TAMILNAD MERCANTILE BANK: CO SAYS FINALIZED NAMES OF 3 CANDIDATES, IN ORDER OF PREFERENCE, FOR POSITION OF MANAGING DIRECTOR AND CEO OF BANK
• INDUS TOWERS: BLOCK DEAL ALERT - VODAFONE PLC TO SELL STAKE IN CO VIA BLOCK DEALS TOMORROW || BLOCK DEAL LAUNCHED TO SELL 10% STAKE IN CO || BLOCK DEAL AT UPTO 10% DISCOUNT TO MARKET PRICE (310-341 PRICE RANGE) || MORGAN STANLEY, BOFA BROKER TO DEAL - CNBC AWAAZ, CITING SOURCES
• RBI CHIEF DAS SAYS SEE STRONG MOMENTUM OF ECONOMIC ACTIVITY AND GROWTH || SAYS STRONG MOMENTUM OF ECONOMIC ACTIVITY HAS CONTINUED IN Q1 OF FY25, IT IS WELL SUSTAINED
• RBI CHIEF DAS SAYS RURAL DEMAND WHICH WAS LAGGING BEHIND HAS ALSO IMPROVED QUITE VISIBLY || SAYS TRENDS INDICATE…
• MANGALAM DRUGS AND ORGANICS: CO APPROVED SCHEME OF MERGER BY ABSORPTION OF MANGALAM LABORATORIES, SHRI JB PHARMA WITH MANGALAM DRUGS AND ORGANICS
• WIPRO: CO CLARIFIES ON NEWS ARTICLE - WIPRO WINS MULTI-MLN DOLLAR DEAL FROM STANDARD CHARTERED || CO SAYS NEWS IS BASED ON RUMOUR AND SPECULATION AND WE WOULD LIKE TO CATEGORICALLY STATE THAT INFORMATION MENTIONED IS INACCURATE
• ZF COMMERCIAL VEHICLE CONTROL SYSTEMS: WABCO ASIA LIKELY TO SELL 5% EQUITY OF ZF COMMERCIAL VEHICLE CONTROL SYSTEMS INDIA IN A BLOCK DEAL || FLOOR PRICE AT 14,980 RUPEES/SHARE (A DISCOUNT OF 13.3% TO NSE CLOSING PRICE) || OFFER SIZE AT 1,423.1 CR RUPEES (5% OF EXISTING TOTAL…
• FII BUY NET RUPEES 2,569.40 CR OF INDIA SHARES TODAY || DII BUY NET RUPEES 1,555.73 CR
• BHARAT FORGE: CO SAYS MADE ADDITIONAL INVESTMENT OF USD 40M IN BHARAT FORGE AMERICA
• KALPATARU PROJECTS INTERNATIONAL: CO SAYS BRANCH OFFICE IN ESWATINI INITIATED PAYMENT OF FINE AMOUNT OF MZM 140,512 || CO SAYS PAYMENT OF FINE FOR RELEASING CONTAINERS WHICH WAS DETAINED BY MAPUTO PORT CUSTOMS
• Important Block deals to track today
• Indus Tower - Vodafone to sell 10%
• Gland pharma - Fosun Pharma to sell 5%
• Sansera Eng - Strategic investors to sell 11.6%
• Zf steering - Wabco to sell 5%
• Source - CNBC
• PG Electroplast - Promoter has bought 20,824 equity shares from open market worth 5.72 Crore
• Artefact Projects:
• Mcap - 54 Cr
• Company has received Projects from NHAI
• Order Value - Rs. 5 crores
• Quess Corp demerger process likely to complete within a year: Chairman
• Quess Corp's demerger process, led by chairman Ajit Isaac, aims to unlock value at India's largest third-party staffing supplier. The company plans to file an application with the NCLT and has seen a 44% stock rally in the past year.
• Vedanta sees sale of steel operations by October, to spend $1.9 billion on capex
• The plan to divest the steel business is a part of the companys efforts to cut debt, Agarwal said in the companys annual report for 2023-24 (Apr-Mar). At holding company Vedanta Resources, debt has been cut by $3.7 billion in two years, as against the companys…
• Adani Group’s $2-2.5 billion war chest targets defence sector acquisitions - Adani Group plans $2-2.5 billion acquisitions in defence sector, focusing on drone technology and missile systems.
• Former PTC India CMD Rajib Mishra to move SAT against Sebi's order - Former PTC India Chairman and Managing Director Rajib Kumar Mishra will move the Securities Appellate Tribunal (SAT) against market regulator Sebi's order to debar him from being a director in a listed entity for six months.
• Saint-Gobain India targets tripling its revenue over the next nine years - Saint-Gobain India aims for ₹36,000 crore revenue by 2032 through investments, acquisitions, and strong market presence.
• Vodafone Idea's Indus stake sale could speed up repayments to towerco, which may issue dividend: JP Morgan - Vodafone Group's potential stake sale in Indus Towers may generate $2.3 billion in cashflows, prompting accelerated repayment to vendors and a special dividend to shareholders. The sale could clear past dues and benefit Vodafone Plc's lenders. An equity infusion.
• Tata Motors: JLR, Chery sign LoI to licence Freelander Brand to CJLR1 for creation of EVs in China
• Craftsman Automation is looking to raise ₹1200 crore via QIP which launches today. QIP price at ₹4,400/sh, discount of 7.7% to CMP
• Sebi plans tweaks in derivative trading rules to curtail options trading - The new rules could include higher margins for options contracts and more detailed disclosures
• *News Headlines from Business News Agencies :*
• *Business Standard :*
• Piramal Finance plans to double retail AUM to Rs 1 trillion by FY28
• Hyundai opposes duty relief on hybrids, says it will hurt petrol vehicles
• Amid heatwave, Delhi's peak power demand reaches record high of 8,647 MW
• Power ministry asks utilities to be on high alert due to rising demand
• Future Generali India Life announces 12% hike in bonus to policyholders
• BLS E-Services to acquire 55% stake in Aadifidelis Solution for Rs 190 cr
• 77% rural households provided with tap water connections: Govt data
• Coal India exploring lithium assets in Argentina with US company
• BPCL to invest Rs 1,400 cr to set up sustainable aviation fuel facilities
• Ahead of JP Morgan's inclusion, HSBC sees $250 mn of India swap deals
• China's jet fuel exports up 68.1% on year in May on rising travel demand
• HUDCO raises $200 mn from overseas lenders for its foray into loan market
• *Economic Times :*
• India's net direct tax collections up 21% YoY to over Rs 4.62 lakh cr in April-June
• India poised for strong growth; but no room for complacency: Shaktikanta Das
• Vodafone PLC to sell 9.9% stake in Indus Towers on Wednesday through block deals
• Germany-based ZF group likely to sell upto 5% stake in ZF Commercial Vehicle for Rs 1,423 crore
• GenAI startup Ayna raises $1.5 million in funding round led by Inflexor Ventures
• Infosys rolls out AI-powered marketing offering Aster to boost sales by 40%
• Larsen & Toubro bags 'significant' orders in Hyderabad, Mumbai
• Dhanlaxmi Bank appoints Ajith Kumar KK as MD and CEO
• Nachiket Pantvaidya appointed GM of Sony Pictures International Productions India
• Amazon announces expansion of its grocery service unit to over 130 cities
• eBikeGo plans to expand e-two-wheeler fleet to 1 lakh units by FY26
• Aye Finance raises $30 million in debt from Dutch development bank
• *Mint :*
• Fitch raises India's growth forecast for FY25 to 7.2% from 7%
• India Inc’s revenue growth likely to slow down QoQ in Q1FY25: ICRA
• Centre plans to bring t-shirts, innerwear under PLI scheme for textiles
• Govt may hike exemption limit to ₹5 lakh under new income tax regime: Report
• Poonawalla Fincorp grants 22, 30,000 stock options under ESOP 2024 Scheme-II
• AMD bets big on 'pervasive AI' to keep pace with the chip race
• Elon Musk plans stock option grants to Tesla's high-performers, says report
• Tesla sues EV-battery-supplier Matthews over alleged disclosure of trade secrets
• Jewllery demand turns dull as gold becomes pricier: Icra
• Rental growth slows in India's top cities amid housing supply surge
• Sebi plans tweaks to address derivative trading risks: Report
• Money Market Update
• The Indian rupee closed 15 paise higher at 83.41 against the US Dollar.
• Securities in ban period:
• Balrampur Chini Mills,
• Gujarat Narmada Valley Fertilizers & Chemicals,
• Hindustan Copper,
• India Cements,
• PEL,
• Sail,
• SUN TV network.
• Trading Tweaks:
• Price band revised from 20% to 10%: Paras Defence and Space Technologies.
• Ex/record Dividend: Sagar Cements, Dalmia Bharat, Andra Cements, LTIMindtree, Intellect Design Arena.
• Ex/record rights issue: Sobha
• Moved into a short-term framework: Bannari Amman Sugars, Chemplast Sanmar, and Home First Finance Company India.
• Who’s Meeting Whom
• Capri Global Capital: To meet analysts and investors on June 21.
• Engineers India: To meet analysts and investors on June 21.
• Sansera Engineering: To meet analysts and investors on June 24 and 25.
• Rhi Magnesita India: To meet analysts and investors on June 20.
• GPT Infraprojects: To meet analysts and investors on June 21.
• Polycab India: To meet analysts and investors on June 21, 25 and 28.
• Coal India: To meet analysts and investors on June 21.
• Life Insurance Corporation of India: To meet analysts and investors on June 21
• Pledge Share Details: Lloyds Metals and Energy: Promoter Thriveni Earthmovers revoked a pledge for 20.45 lakh shares on June 11.
• Beat The Street:
• Dow + 57
• Nasdaq + 3
• Dax + 55
• Nikkei + 268
• Hangseng + 130
• Gift Nifty +84 (23654)
• Dowfut - 27
• Nasdaqfut + 19
• Crude Oil 85.31
• Dollar Index 104.92
• *Fund Houses Recommendations*
• UBS on *Apollo Hospitals:* Maintain Buy on Company, raise target price at Rs 7500/Sh (Positive)
• GS on *Crompton:* Maintain Buy on Company, raise price at Rs 450/Sh (Positive)
• GS on *Havells:* Maintain Buy on Company, raise price at Rs 1900/Sh (Positive)
• UBS on *Zomato:* Maintain Buy on Company, raise price at Rs 250/Sh (Positive)
• CLSA on *VBL:* Maintain Buy on Company, raise price at Rs 1977/Sh (Positive)
• Bernstein on *Muthoot Fin:* Initiate Outperform on Company, price at Rs 2000/Sh (Positive)
• Bernstein on *Indusind Bank:* Initiate Outperform on Bank, price at Rs 1800/Sh (Positive)
• Nuvama on *Star Health:* Maintain Buy on Company, target price at Rs 660/Sh (Positive)
• Citi on India Consumer: Most consumer discretionary and retail stocks have outperformed Nifty 50 over the last 3 months. *Jubilant Food* is top pick (Positive)
• Nomura on *ICICI Lombard:* Maintain Neutral on Company, target price at Rs 1790/Sh (Neutral)
• GS on *Voltas:* Maintain Sell on Company, raise price at Rs 1200/Sh (Neutral)
• GS on *Symphony:* Maintain Neutral on Company, raise price at Rs 1160/Sh (Neutral)
• Emkay on *PayTM:* Maintain Reduce on Company, target price at Rs 300/Sh (Neutral)
• Bernstein on *Bajaj Fin:* Initiate Market perform on Company, price at Rs 6800/Sh (Neutral)
• Jefferies on *IIFL Fin:* Maintain Hold on Company, target price at Rs 470/Sh (Neutral)
• #Wipro clarifies that report of multi-million-dollar deal from #StandardChartered is based on rumour, inaccurate: Exchange Filing
• Nvidia vaults past Apple and Microsoft to become world’s most valuable company
• BHEL bags ₹7,000 cr order from Adani Power for two power plants
• - ₹4,400 cr for 2x800 MW Raipur plant in Chhattisgarh
• - Boosts BHEL's order book
• - Major win for India's power sector
• PG Electroplast - Promoter has bought 20,824 equity shares from open market worth 5.72 Crore
• Ami Organics to raise Rs 500 crore via QIP, final issue price on June 21
• Ami Organics has launched a QIP to raise up to Rs 500 crore. The company is offering shares at a floor price of Rs 1,228.71 per share.
• Nifty closed @23,557.90 (+92.30) and Sensex @77,301.14 (+308.37) on Tuesday GIFT Nifty was trading at 23,664 (as of 7:30 a.m)
• FIIs net bought equities in cash to the tune of Rs 2 569 cr whereas DIIs bought equities in cash worth Rs.1,556 cr on June 18 2024
• LIC denies reports of mega land sale for 7 bn
• RBI is working with SEBI on addressing retail frenzy in equity F&O market, says Shaktikanta Das
• HAL receives RFP from MoD for 156 LCH worth Rs. 50,000 cr.
• SEBI may hike F&O margins, mandate more disclosures
• PFC board okays Rs 15,000 cr loan to Shapoorji Pallonji group companies
• Vedanta sees sale of steel operations by October, to spend $1.9 bn on capex
• More MNCs eye IPO route after Hyundai move
• UGRO Capital raises Rs 1,400 cr in equity capital, Rs 1,265 cr in CCDs
• Vodafone group to sell 9.94% stake in Indus Towers
• NSE launches Nifty India Tourism Index as new thematic gauge
• Kalpataru Projects promoter divests Rs 1,003 cr stake
• Paytm soars to three month high on plans to sell entertainment unit to Zomato
• ZEE Entertainment CFO Rohit Kumar Gupta resigns for personal reasons
• Fosun likely to sell 5% stake in Gland Pharma
• Vikram Solar secures 393.9 MW solar module supply deal
• L&T Construction wins orders worth up to Rs.2,500 crore in Hyderabad and Mumbai
• Shivalik Small Finance Bank secures Rs 100 crore in equity funding
• Indian ADRs: Wipro (+3.0%), ICICI Bank (+2.4%) and Dr Reddy's (+1.2%)