Sensex closed at 64718 level : while Nifty at 19189 level

Indian Market 

FII AND DII 

Indian Market News 

1. The Sensex is up 800 points, while Nifty is around 19,200  as the market continues to rise.
2. Nikkei, Taiwan, and Asian markets trade mixed; Shanghai, Kospi gain
3. Dow and S&P rise as banks soar in response to rate concerns.
4. As demand diminishes, China’s industry activity continues to decline.
5. the greatest decline in 20 months in US weekly jobless claims as the economy remains resilient.
6. As traders wait for important US inflation data, gold fails to gain momentum.
7. Brent oil is expected to record its first monthly gain of the year due to supply concerns.
8. On June 28, shares purchased by foreign institutional investors total $12,350 billion.
9. New orders of Rs. 2,191 billion for both defense and non-defense products have been placed with Bharat Electronics Limited (BEL).
10. With a revised target of Rs 710, Kotak Institutional Equities maintains its sell rating on Voltas.
11. Canara Bank approves the intention to raise Rs 7,500 billion.
12. The IdeaForge Technology IPO concludes today with an 84-time subscription rate.
13. On the last day, Cyient DLM IPO received 32.95 subscriptions.
14. Bags from Kalpataru Projects International 2 orders totaling Rs. 1,008 billion
15. Goldman Sachs purchases extra Adani Green Energy shares at Rs. 1,099.8 billion; stock falls
16. As part of a significant transaction, 3.45% of Adani Transmission’s shares is transferred.
17. Three investment proposals for Power Grid totaling Rs. 389 crore get board approval.
18. Promoter plans to offer a block deal for up to 5.8% of Creditaccess Grameen.
19. In a block transaction, 3.8 crore shares of Adani Transmission are exchanged.
20. $244 million will be invested by Procter & Gamble India to establish a manufacturing facility.
21. Lenders from Reliance Capital accept Hinduja’s offer of Rs 9,661 crore for the company.
22. HDFC increases its interest to 50.33%, converting HDFC Life into a subsidiary.
23. Promoters and shareholders of TD Power are set to sell a 24.2% interest for Rs 800 crore through a block auction.
24.  

 Indian Market Today  

     INDIAN MARKET MOVERS 

MAJOR UPDATES

• Reliance Capital lenders accept Hinduja’s offer of Rs 9,661 crore for the firm

Multiple people with knowledge of the development told CNBC-TV18 that Reliance Capital’s Committee of Creditors (CoC) has approved the resolution plan put forth by IndusInd International Holdings Ltd (IIHL) for the troubled financial services company, bringing closure to the protracted insolvency resolution process of the company.

The investment arm of the Hinduja Group, IIHL, earned a resounding 99.6 percent of the lenders’ votes in favor of their resolution plan for Reliance Capital (RCap), according to people with knowledge of the situation. On Thursday, the lone resolution plan was approved after voting.

• By changing its mind over the Bank Nifty expiration, the NSE-BSE shown maturity: Sebi’s Madhabi Buch

Madhabi Puri Buch, the chair of the Securities and Exchange Board of India (Sebi), hinted on June 28 that the regulator might have had some influence on the NSE’s decision to reverse its plan to move the Bank Nifty’s expiry day to Friday, though she did not state this clearly.

Earlier this week, NSE gave in to BSE’s demand to postpone the expiration of Bank Nifty contracts to Friday. If this hadn’t happened, the growth of the recently relaunched Bankex and Sensex futures and options contracts and the Bank Nifty contracts would have been stunted.

• The ICICI Bank will acquire full ownership of ICICI Sec. Examine the share swap ratio.

The broking company will delist and become a fully owned subsidiary of its parent company, ICICI Bank, according to a June 29 announcement from ICICI Securities. For every 100 equity shares of the corporation, ICICI Securities’ public shareholders will receive 67 equity shares of ICICI Bank.

The Reserve Bank of India, National Company Law Tribunal, stock exchanges, and other regulatory and statutory bodies, as well as ICICI Bank and the company’s shareholders and creditors, must all approve the plan before it can be implemented, according to the exchange filing.

Global Market Update

• SGX Nifty

With a gain of 20 points on Friday, the SGX Nifty suggests a somewhat better opening for the larger market. SGX futures were 19,170 points at the time.

• USA

As investors anticipated the most recent information on personal consumption expenditures, the Federal Reserve’s preferred inflation indicator, US equities futures were little moved on Thursday evening. The Dow Jones Industrial Average-related futures moved down 26 points, or 0.08 percent. Nasdaq 100 futures were slightly above the flat line, while S&P 500 futures moved down by 0.03 percent.

Major bank names helped the Dow rise roughly 270 points, or 0.8 percent, during normal trading on Thursday. The Nasdaq Composite finished the day flat while the S&P 500 gained over 0.5 percent.

• EUROPE

On Thursday, European share markets ended marginally higher as investors considered the opinions of top central bankers over the necessity of keeping up the fight against inflation. Retail stocks increased by 1.8 percent to lead gains on the strength of strong earnings from H&M, while travel and leisure sectors declined by 0.7 percent. The pan-European Stoxx 600 closed the day 0.1 percent higher. The FTSE ended the day at 7471 points, down 0.38 percent. DAX ended the day at 15,946 points, down 0.01 percent.

• ASIA

1. The final trading day of the first half of the year saw a general decline in Asia-Pacific markets. The Dow Jones Industrial Average increased as a result of significant bank shares rising after passing the yearly stress test conducted by the Federal Reserve.

2. A revised estimate of the US gross domestic product also contributed to improving investor sentiment and allaying Wall Street’s concerns about a recession. Investors will be anticipating the most recent information on personal consumption expenditures, the preferred inflation indicator of the Federal Reserve.

3. Japanese stocks declined as investors considered Tokyo’s core consumer price index, which has for thirteen consecutive months been above the central bank’s goal level. The Topix dropped 0.8 percent and the Nikkei 225 sank 0.9%. The Kosdaq fell 0.6 percent while the Kospi increased 0.1 percent in South Korea. The S&P/ASX 200 lost 0.2% in Australia. The Hang Seng index for Hong Kong is expected to open lower.

STOCK IN NEWS

1. HDFC Life Insurance Company: Promoter Housing Development Finance Corporation increased its shareholding in the life insurance firm by 1.65 crore equity shares, or 0.77%, through open market transactions at an average price of Rs 674.87 per share. The shareholding was purchased for Rs 1,118.84 crore.
2. Adani Enterprises: SB Adani Family Trust, the business’s promoter, sold 1.8 crore equity shares, or 1.57% of the company, in open market transactions at an average price of Rs 2,300 per share. The share sale totaled Rs 4,140 crore. As of March 2023, Gautam S Adani and Rajesh S Adani, on behalf of SB Adani Family Trust, owned 59.13 crore shares, or 51.87% of the firm.
3. Adani Green Energy: Goldman Sachs Trust II – Goldman Sachs GQG Partners International Opportunities Fund purchased an additional 1.19 crore equity shares, or 0.75% of the renewable energy firm, through open market transactions at an average price of Rs 920.05 per share. However, Infinite Trade and Investment Ltd, a promoter group organisation, sold 4.6 crore shares, or 2.9% of the company, for an average price of Rs 920.03 per share.
4. Zydus Lifesciences: Has acquired preliminary clearance from the US Food and Drug Administration (USFDA) for Palbociclib tablets in 75 mg, 100 mg, and 125 mg dosages. Palbociclib is a drug that is used to treat a specific kind of breast cancer. The product will be created at the group’s formulation manufacturing facility in Ahmedabad’s Special Economic Zone. According to IQVIA MAT April 2023, Palbociclib had yearly sales of $3.3 billion in the United States.
5. Power Grid Corporation of India: The board of directors of the state-owned electric utility corporation has approved three investment proposals totaling Rs 389 crore. The company will invest Rs 164.38 crore in the establishment of a dedicated telecom network for NTAMC, Rs 115.09 crore in the Western region expansion scheme – XXXIII – Part A, and Rs 109.47 crore in ICT augmentation at Navsari (new) in conjunction with the integration of an additional 7 GW of RE power from Khavda RE park under Phase-III.
6. Bharat Petroleum Corporation: The oil marketing company’s board of directors has approved a capital raise of up to Rs 18,000 crore. This capital will be obtained through the rights issuance of equity shares to qualifying equity shareholders of the Corporation.
7. Global Surfaces: Leading Light Fund VCC the Triumph Fund sold 6.25 lakh shares, or 1.47% of the company, at an average price of Rs 204.16 per share. As of March 2023, Leading Light Fund VCC the Triumph Fund owned 4.57% of Global Surfaces, or 19.36 lakh shares.
8. Syrma SGS Technology: South Asia Growth Fund II Holdings LLC has sold 10.37 lakh shares, or 0.58% of its position in the supplier of electronics manufacturing services and solutions. The average selling price per share was Rs 460.47. South Asia Growth Fund owned 1.06 crore shares, or 6.02% of Syrma SGS, as of March 2023.
9. Edelweiss Financial Services: Announced that its Debenture Fund Raising Committee has approved the public issue of non-convertible debentures with a face value of Rs 1,000 each for a maximum of Rs 150 crore, with an option to retain up to Rs 150 crore of oversubscription, for a total of Rs 300 crore (Tranche III issue). Tranche III will be available for subscription between July 4 and July 17.
10. Advanced Enzyme Technologies: Advanced Vital Enzymes, the business’s promoter, has sold 25.5 lakh equity shares, or 2.28% of the company, for an average price of Rs 270.08 per share. ICICI Prudential Mutual Fund, on the other hand, purchased 10 lakh shares, or 0.89% of the company, at an average price of Rs 270 a share.

11. ICICI Securities and ICICI Bank: Bank stated that the drafted plan of arrangement for the delisting of ICICI Securities’ equity shares has been approved by the board of directors. Public shareholders will receive 67 equity shares in the bank for every 100 ICICI Securities shares they own. ICICI Securities will consequently become a completely owned subsidiary of the bank.

12. MCX India and 63 Moons Technologies: Starting on July 1, 2023, MCX has decided to extend its support services contract with current software provider 63 Moons Technologies for a further six months. The service charge for each quarter is Rs 125 crore.

13. Tata Communications: The Tata Group firm has agreed to purchase US-based Kaleyra Inc in order to expand its CPaaS business on a worldwide scale. The transaction is planned to be completed within 6-9 months, with a purchase price of $7.25 per share paid in cash alone. The total amount is likely to be about $100 million.

     

14. Canara Bank: The public sector lender’s board of directors has approved a capital raising strategy for FY24 totaling Rs 7,500 crore using debt instruments.

     

15. Zydus Lifesciences: Has acquired preliminary approval from the US Food and Drug Administration (USFDA) for Palbociclib tablets. Palbociclib is a drug that is used to treat a specific kind of breast cancer.

     

16. Bharat Petroleum Corporation: The oil marketing company’s board of directors has approved a capital raise of up to Rs 18,000 crore. This capital will be obtained by a rights issue of equity shares to qualifying equity shareholders of the Corporation.

     

17. ICRA: Sushmita Ghatak, Managing Director and CEO of ICRA Analytics, has resigned. The organisation is now looking for a replacement for the aforementioned position. ICRA Analytics is a wholly owned subsidiary of ICRA.

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