Stock Market Today: All You Need To Know Going Into Trade On June 3
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Asian shares rose on Friday after US equities snapped a two-day slide ahead of a key jobs report.
Stocks gained in Japan, Korea and Australia while US futures edged up. Markets are shut in Hong Kong and China. On Thursday, the S&P 500 rose 1.8%, led by gains in consumer discretionary shares, while the tech-heavy Nasdaq 100 surged nearly 3%.
The Singapore-traded SGX Nifty, an early barometer of India's benchmark Nifty 50, rose 0.88% to 16,758.59 points as of 6:50 am.
Elsewhere, OPEC+ agreed to increase the size of its oil-supply hikes by about 50% in July and August. Yet oil continued to rise.
Stocks To Watch
Bajaj Auto: Dealers are grappling with a severe shortage of inventory as the chip crunch and vendor issues are hurting the maker of Pulsar motorcycles.
UltraTech Cement: The company will invest Rs 12,886 crore towards 22.6 mtpa capacity expansion after the board approved mix of brown field and green field expansion. The move comes weeks after Adani Group aquired Holcim India's Ambuja Cements Ltd. and ACC Ltd. to emerge as the country's second largest cement maker.
GR Infraprojects: Subsidiary GR Madanpalli Pileru Highway Pvt. Ltd. has executed the concession agreement with the National Highways Authority of India.
Hindalco Industries: The company has completed the disinvestment process of Hindalco Do Brazil Industria Comercia de Alumina LTDA, a wholly owned stepdown subsidiary.
McDowell Holdings: The company approved the appointment of CA Krishna Mohan Maddula as CFO with effect from May 31, 2022.
Omaxe: The company incorporated a wholly-owned subsidiary, Worldstreet Sports Center.
Aether Industries: The Rs 808 crore IPO was subscribed 6.25 times.
Pledged Shares Details
Mangalore Chemicals Fertilisers: Promoter Zuari Agro Chemicals created a pledge of 60 lakh shares and revoked a pledge of 33 lakh shares on May 31.
Sterling and Wilson Renewable Energy: Promoter Khurshed Yazdi Daruvala created a pledge of 7.6 lakh shares on May 30.
Chambal Fertilisers & Chemicals: Promoter SIL Investments bought 40,000 shares between May 30 and May 31.
Maharashtra Seamless: Promoter Group Sudha Apparels bought 51,100 shares between May 31.
Nirlon: Promoter Group Shitaltrading & Interiors sold 10,000 shares between May 30 and May 31.
Prudent Corporate Advisory Services: Rameshchandra Chimanlal Shah bought 4.25 lakh (1.02%) shares at Rs 595.5 apiece.
Arvind: Birla Sunlife Insurance Company sold 16.29 lakh (0.62%) shares at Rs 101.12 apiece.
Dynamatic Technologies: Christine Hoden India bought 53,000 (0.83%) shares at Rs 1915 apiece. Wavell Investment sold 53,000 (0.83%) shares at Rs 1915 apiece.
Who's Meeting Whom
SMS Pharmaceuticals: To meet investors on June 6.
Finolex Cables: To meet investors and analysts on June 4.
Greaves Cotton: To meet investors and analysts on June 3.
Price Band Revised From 10% To 5%: Rattanindia Enterprises
Price Band Revised From 5% To 20%: Tips Industries
Record Date Interim Dividend: Page Industries
Ex-Date Final Dividend, Special Dividend: Torrent Pharmaceuticals
Move Into Short-Term ASM Framework: Timken India, PG Electroplast, RattanIndia Enterprises
Money Market Update
The rupee ended at Rs 77.60 against the U.S. Dollar on Thursday as compared to Wednesday's closing of Rs 77.52.
Nifty June futures ended at 16,630, a premium of 2 points.
Nifty June futures added 3.21% and 6,670 shares in Open Interest.
Nifty Bank June futures ended at 35,700, a premium of 86.35 points.
Nifty Bank June futures added 2.39% and 2,186 shares in Open Interest.