Sensex jumps 450 pionts -Nifty close on 18816

Indian Market 

FII AND DII 

Indian Market News 

1. Sensex rises 450 points, Nifty closes above 18,800; HDFC Life gains 6%, LTIMindtree 3%.
2. The Indian markets have a flat start, according to SGX Nifty.
3. Wall Street declines as investors focus on Russia, Fed rate increases, and the end of the quarter
4. Gold falls as concerns about Russia and a hawkish Fed outlook weigh
5. Prior to U.S. durable goods and housing statistics, the dollar remains stable.
6. Asian markets ended mixed; the Hang Seng rose 1% and the Nikkei fell 0.8%.
7. Google challenges the NCLAT decision upholding the Rs. 1,338 crore antitrust fine.
8. Today is the opening day of the Cyient DLM IPO, which will be the second this week
9. Merger of HDFC and HDFC Bank to take effect on July 1
10. Tier-2 bonds issued by IDFC FIRST Bank in the domestic market raise Rs 1500 crore.
11. Federal Bank announced a suspension of a unit stake sale of Rs 2000 crore.
12. ICICI Prudential trades flat following receipt of a Rs. 492 billion GST notice.
13. In order to raise 750 crore rupees, Godrej Properties would issue unsecured redeemable NCDs.
14. The board of Hindustan Aeronautics has approved a final dividend of Rs 15 per share and a share split.
15. To raise Rs 20,000 crore, Vodafone Idea is in talks with up to four PE firms. Report
16. On June 26, FII sold shares worth Rs. 409.43 crore.
17. IdeaForge Technology’s IPO issue received 3.69 times as many subscriptions as retail bookings on Day 1.
18. Before its IPO, Cyient DLM collected Rs 259.64 crore from anchor investors.

 Indian Market Today  

     INDIAN MARKET MOVERS 

MAJOR UPDATES

• Google challenges the NCLAT decision upholding the Rs. 1,338 crore antitrust fine.

• Today is the opening day of the Cyient DLM IPO, which will be the second this week.

Global Market Update

• SGX Nifty

• USA

• EUROPE

• ASIA

1. Following a tech sell-off on Wall Street on Monday, Asia-Pacific markets are divided. Tesla fell 6% after Goldman Sachs downgraded the electric vehicle manufacturer, citing pricing concerns. Nvidia, Alphabet, and Meta Platforms, three other tech companies, all had losses of over three percent.
2. Australia;  As investors wait for the May inflation data, which will provide a hint as to the Reserve Bank of Australia’s rate changes in August, the S&P/ASX 200 in Australia opened 0.28 percent higher on Wednesday.
3. Japan; After three straight days of losses, the Nikkei 225 in Japan increased its losses, sliding 0.25 percent, while the Topix had a lower loss of 0.06 percent.
4. The Kospi and Kosdaq of South Korea both fell in early trade, by 0.46 percent and 0.53 percent, respectively. The Hang Seng index in Hong Kong appears poised to end its five-day losing streak, with futures at 18,894 and the HSI’s closing price of 18,794.13 respectively.

BLOCK DEALS

1. Landmark Cars: The full 44.56 shares, or 11.25 percent of the automobile store, were sold by TPG Growth II SF Pte Ltd, a global private equity firm, for Rs 293.2 crore, or an average price of Rs 658 per share. Promoter Sanjay Karsandas Thakker (HUF) also sold all 5.6 lakh shares, or its 1.41 percent holding, for the same amount. However, at an average price of Rs. 658 per share, or Rs. 254.13 crore, Unifi Capital, Societe Generale, ICICI Prudential Life Insurance Company, Goldman Sachs Funds – Goldman Sachs India Equity Portfolio, Abakkus Diversified Alpha Fund, Abakkus Asset Manager LLP, and 3P India Equity Fund 1 purchased 38.62 lakh shares, or 9.7 percent of the company.
2. Indiabulls Housing Finance: At an average price of Rs 115.54 per share, Florintree Insurtech LLP purchased 30.5 lakh equity shares, or 0.64 percent of the firm, through open market transactions.
3. Parag Milk Foods: At an average price of Rs 121.23 per share, Sixth Sense India Opportunities III, a venture capital fund managed by Sixth Sense Ventures, purchased an additional 6.8 lakh shares, or 0.58 percent interest, in the milk products company. As of March 2023, Sixth Sense India Opportunities III already owned 2.3 percent of the company, and Sixth Sense India Opportunities II owned 1.54 percent.
4. Sterling and Wilson Renewable Energy: Promoter Shapoorji Pallonji and Company sold 35 lakh shares, or 1.84 percent of the holding in Sterling and Wilson Renewable Energy, for an average price of Rs. 295.25 per share, or Rs. 103.33 crore. But at the same price, Sahastraa Advisors bought 9.9 lakh shares, while Setu Securities bought 17.1 lakh.
5. Easy Trip Planners: Promoter Nishant Pitti sold 6.25 million equity shares, or 3.6 percent of the company, in Easy Trip Planners through open market transactions for a total of Rs 266.58 per share, or an average price of Rs 42.6 per share. Wilson Holdings, who bought all of the shares at the same price, was the buyer in this transaction.
6. Harsha Engineers International: Foreign portfolio investor Abu Dhabi Investment Authority left the maker of precise bearing cages, Harsha Engineers International, by selling all 17.76 lakh equity shares, or 1.95 percent of the company, at an average price of Rs 435.02 per share. The sale of the stake brought in Rs. 77.25 crore. Plutus Wealth Management LLP, however, acquired 16.04 lakh shares of Harsha at an average cost of Rs 435.
7. 63 Moons Technologies: The hedge fund operated by US-based Miri Capital Management LLC, The Miri Strategic Emerging Markets Fund LP, purchased 4.46 lakh shares of 63 Moons through open market transactions at an average cost of Rs 190.68 per share.
8. Antony Waste Handling Cell: At an average price of Rs 318.99 per share, The Miri Strategic Emerging Markets Fund LP acquired an additional 6.27 lakh shares, or a 2.2 percent interest in the solid waste collection organization. Miri already acquired 2.5 lakh shares of Antony Waste during the previous session, increasing her overall position to 3.1 percent in just two days.

STOCK IN NEWS

• Bharti Airtel: The telecom company has disclosed changes to the Airtel Business leadership team. Ajay Chitkara has resigned from his position as CEO of Airtel Business, but he will be employed by the business through the third week of August 2023. As a result, Airtel Business would be divided into three channel and business segments. Vani Venkatesh, Ganesh Lakshminarayanan, and Ashish Arora will be in charge of the domestic business, the Nxtra Data Centers, and the global business, respectively.
• JSW Steel: After the NCLT approved the merger plan, Vardhman Industries, JSW Steel Coated Products, and JSW Vallabh Tinplate submitted the aforementioned order with the Registrar of Companies. The aforementioned plan went into action on June 26. As a result, JSW Steel Coated Products, a division of JSW Steel, acquired JSW Vallabh Tinplate and Vardhman Industries, which ceased to exist as of the effective date.
• Aditya Birla Capital: On June 26, the Aditya Birla Group company began accepting applications for its qualified institutional placement (QIP) issue. The share’s floor price has been established at Rs. 175.99. According to sources, the fundraising would most likely total Rs 1,750 crore.
• BLS International Services: The outsourcing company announced that its subsidiary BLS E-Services’ board of directors has approved raising money through an initial public offering (IPO). In due order, the proposed IPO’s size, pricing, and other specifics will be decided. BLS E-Services would remain a division of the corporation after the proposed IPO.
• City Union Bank: The company’s board of directors has given the go-ahead for a qualified institutional placement (QIP) to raise an additional 500 crore rupees in capital.
• Tech Mahindra: LCC France SARL, the company’s step-down subsidiary, has agreed to a plan to sell its 49 percent investment in SARL Djazatech as well as its fully owned subsidiary EURL LCCUK Algerie. By July 10, 2023, the stake sale transaction is anticipated to be finished.
• SBI Life Insurance Company: With effect from June 26, Swaminathan Janakiraman resigned from his position as a director of SBI Life Insurance Company after being named Deputy Governor by the Reserve Bank of India. He was the State Bank of India’s director nominee.
• Aavas Financiers: Foreign portfolio investor Small Cap World Fund Inc has sold another 7.7 lakh equity shares or 0.97% ownership in the home financing firm for Rs 110.77 crore at an average price of Rs 1,437.74 per share. So far in June, Small Cap World Fund Inc has sold 3.5% of its interest in Aavas, compared to its 7.99% stake as of March 2023.
• ICICI Prudential Life Insurance:Received a show cause cum demand notice (SCN) from the Directorate General of GST Intelligence (DGGI) for failing to pay tax of Rs 492.06 crore from July 2017 to July 2022. The dispute primarily concerned an industry-wide problem of input tax credit, and the firm believes it has obtained qualifying input GST credit in accordance with the terms of the Central Goods and Services Tax Act, 2017 and other applicable legislation. It will take the necessary actions to respond to the SCN and dispute the case in due time. During the investigation, the business deposited Rs 190 crore without acknowledging any obligation.
• Godrej Properties: Has got board approval for the placement memorandum for the issuing of unsecured redeemable non-convertible debentures worth Rs 750 crore, comprising of a Rs 500 crore base issue with a Rs 250 crore oversubscription option.
• Sapphire Foods India: According to term sheet agreements, Sapphire Foods India would likely offer three million shares in a block sale at Rs 1,345-1,391 per share.