Indian Market
FII AND DII
| FII Sold | 71.07 Cr |
| DII purchased | 488.93 Cr |
Indian market news
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- Nifty above 18,500, Sensex up 119 points; auto, real estate, and commodities outperform
- Asian markets are trading higher, with the Hang Seng up by 2%.
- Wall Street surges in anticipation of the Fed stopping hikes and with relief over the debt ceiling
- After the U.S. debt settlement, oil prices increased, and everyone was looking forward to the OPEC meeting.
- Toyota Kirloskar Motor and Bajaj Finance sign an MOU
- Shares of Mahindra & Mahindra Financial Services increase as payments increase 39%.
- Sensex and Nifty trade flat despite volatility; Hero MotoCorp is the top gainer.
- Bank of Maharashtra, Indian Bank, and J&K Bank drove the 0.7% increase in the Nifty PSU Bank index.
- The FII sold shares on June 1 for Rs. 71.07 crore.
- May GST receipts exceeded Rs 1.57 trillion, up 12% YoY.
- India’s coal production increased 7.10% to 76.26 MT in May.
- Tata Motors’ May sales decreased 1.6% year over year to 74,973 cars.
- Mahindra & Mahindra Financial Services shares increase as payments increase 39%
- TVS Motor shares improve by 2% as May sales reach 3.3 lakh units, up 9% year over year.
- Sales of Royal Enfield rose 22% YoY to 77,461 units in May 2023.
Indian market Today
| SENSEX | 118.57 | +0.19% | 62,547.11 |
| NIFTY50 | 46.35 | +0.25% | 18,534.10 |
| BANK NIFTY | 147.65 | +0.34% | 43,937.85 |
INDIAN MARKET MOVERS
| Hindalco | 14.10 3.47% | Adani Enterpris | -47.10 -1.89% |
| Hero Motocorp | 92.90 3.32% | Infosys | -20.50 -1.55% |
| Apollo Hospital | 145.75 3.03% | BPCL | -4.50 -1.23 % |
| Maruti Suzuki | 176.80 1.90% | HDFC Life | -5.80 -1.00% |
| JSW Steel | 12.55 1.81% | TCS | -18.40 -0.55% |
STOCK IN NEWS
- Coal India: The country’s largest coal mining company’s offer for sale issue has received 3.457 times the base size of subscriptions. Retail investors would receive 92.44 lakh shares in the base issue, while non-retail investors will receive an offer size of 8.31 crore shares. Now, in addition to the basic issue size of 9.24 crore shares, the government has chosen to exercise the green shoe option to the extent of up to 9.24 crore shares or 1.5% equity.
- Tata Motors: In May 2023, the Tata Group company sold 74,973 units of passenger and commercial cars, a 1.6% decrease from 76,210 units in May 2022, however this was above analysts’ expectations. During the same period, domestic sales decreased by 2% YoY to 73,448 units while exports increased by 4.8% to 1,525 units.
- Maruti Suzuki India, the largest automaker in the nation, reported that it would create 1.8 lakh vehicles in May 2023, a 9.3% increase over the 1.64 lakh vehicles it produced in May 2022. Production of passenger vehicles reached 1.76 lakh units, a 9.8% increase over the same month last year.
- Eicher Motors: The company reported that it sold 77,461 units of Royal Enfield in May 2023, exceeding analysts’ expectations and up 22% from the 63,643 units sold in the same month previous year. Domestic business was a major factor in this increase. In May 2023, exports decreased 34% YoY to 6,666 units.
- Hero MotoCorp: The largest two-wheeler manufacturer in the nation sold 5.19 lakh units in May 2023, which is in line with analysts’ projections and up 7% from the same month last year. 5.08 lakh units were sold domestically, up 9% year over year, but exports were down.
- Adani Enterprises: The share purchase agreement between Adani Enterprises and MAIF for the acquisition of a 100% stake in Swarna Tollway and a 56.8% investment in Gujarat Road and Infrastructure Company has been cancelled.
- TVS Motor Company: Surpassing experts’ predictions, the two- and three-wheeler manufacturer reported sales growth of 9% YoY, going from 3.03 lakh units in May 2022 to 3.3 lakh units in May 2023. Exports decreased by 30.5% to 76,607 units while domestic sales increased by 32% YoY to 2.52 lakh units. 17,953 units were sold by TVS iQube electric in May 2023, a considerable increase from 2,637 units in May 2022.
- Aditya Birla Capital: Out of the overall approved equity capital raise of up to Rs 3,000 crore, the financial services business said the board has approved preferential issuance of Rs 1,250 crore to its promoter and promoter related entity. The price per share for the preferential offering will be Rs 165.1. To the promoter, Grasim Industries, and the promoter group entity, Surya Kiran Investments Pte Ltd, the company will issue shares worth Rs 1,000 crore and Rs 250 crore, respectively.
- GAIL India has invested Rs 2,101 crore in JBF Petrochemicals’ entire resolution plan amount, including Rs 625 crore in equity and Rs 1,476.00 crore in debt.
- MTAR Technologies: Through open market transactions, France-based financial services company Societe Generale purchased 4.16 lakh equity shares, or 1.35% of the precision engineering business, at an average price of Rs 1,880 per share.
- RateGain Travel Technologies: Avataar Holdings, a foreign corporation, sold 55 lakh equity shares, or 5.07% of the firm, in open market transactions for an average price of Rs 375.02 per share. RateGain is a global provider of SaaS solutions for travel and hospitality.