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 01, 2023

• *In a significant development, Nomura has acquired a stake in Gravita India through four different funds.*
• The purchase involved *32,00,000 equity shares* of the company during a block deal window at a price of *₹565 per share,* according to information from NSE.
• This acquisition represents approximately *4.64% of the total equity of Gravita India.* Following this news, the stock witnessed a surge, *reaching a 52-week high of ₹601*
• With the inclusion of Nomura's investment, *institutional investors now hold nearly 8% of the equity in the company.*
• Caution ahead.....
• "Monetary liquidity is set to fall sharply over the next 6 months, and this will likely drive major equity indices lower...Equities have had – and continue to have – a strong correlation to monetary liquidity, and this drain in reserves could push stocks down 7 to 10% based on historical relationships seen over the last few years. And in the US, the impact could be even greater this time since this reduction in the quantity of money may also come with an increase in the price of money – i.e. yields in money markets may rise given the cash drain. This could put pressure on bank and investor funding costs, with potential negative implications for broader equity markets." (Morgan Stanley Quantitative and Derivative Strategies Group)
• *Instl. Investors EQUITY Cash Trades PROV. - 31/05/2023 : Rs. CRS. :*
• *FIIS : BUY +3,406 (65,024-61,618)*
• *DIIS : SELL -2,528 (11,726-14,254)*
• Don’t be “gung ho “ in 7.1 % GDP growth , the major contribution is from trade , tourism , services & not from manufacturing& mining.