Stock Market Today: All You Need To Know Going Into Trade On June 29
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Stocks fell in Asia Wednesday on heightened worries about a gloomy economic outlook, amid monetary policy tightening and rise in crude oil prices.
Equities fell in Japan, Australia and South Korea. US contracts were volatile after the S&P 500 tumbled and the tech-heavy Nasdaq 100 lost over 3%.
As of 7:30 am, the Singapore-traded SGX Nifty--an early barometer of India's benchmark Nifty 50--fell 1% to 15,695.50.
Oil held gains, hovering around $112 a barrel. In cryptocurrencies, Bitcoin settled near $20,000 amid generally poor sentiment.
Stocks To Watch
Reliance Industries: Reliance Jio Infocomm names Mukesh Ambani's son Akash Ambani as Chairman.
SBI/ICICI Bank: The banks will invest Rs 4.03 crore each to pick up 9.54% stake in Perfios, an account aggregator.
HDFC Bank: The bank will invest Rs 4.02 crore for 9.54% stake in Perfios.
Route Mobile: The company approved buyback of shares for an aggregate amount of Rs 120 crore. It will buyback 705,882 shares, representing 1.12% of the total paid up share capital at maximum buyback price of Rs 1,700 per share.
Jammu and Kashmir Bank: The bank will raise Rs 500 crore by equity and Rs 1500 crore via bonds in FY23.
ONGC: The company said four die and five rescued in helicopter accident.
Glenmark Pharma: The company's U.S. arm acquired four OTC ANDAs from Wockhardt.
Godawari Power & Ispat: The company has acquired 78.96% stake in Alok Ferro Alloys for Rs 126.98 crore.
Pledged Shares Details
Chambal Fertilisers & Chemicals: Promoter Group Simon India created a pledge of 1.77 lakh shares on June 23 and Promoter Zuari Industries created a pledge of 15.35 lakh shares between June 22 and June 23.
Thyrocare Technologies: Promoter Docon Technologies revoked a pledge of 3.76 crore shares and created a pledge of 3.76 crore shares on June 23.
Insider Trades
Manappuram Finance: Promoter & Director Nandakumar V P bought 56,000 shares on June 27.
Gati: Promoter Groups Bunny Investments and Finance Pvt. Ltd. sold 12,500 shares between June 23 and June 27.
Page Industries: Promoter & Directors Sunder Genomal sold 6,429 shares, Ramesh Genomal sold 6,487 shares and Nari Genomal sold 6,422 shares between June 23 and June 27.
Psp Projects: Promoter Group SPP Family Trust bought 9,000 shares on June 27.
Star Cement: Promoter & Director Prem Kumar Bhajanka bought 4,149 shares on June 24.
Nuvoco Vistas Corporation: Promoter Niyogi Enterprise bought 3 lakh shares between June 24 June 27.
Vijaya Diagnostic Centre: Promoter Sura Surendranath Reddy bought 31,000 shares on June 27.
Bulk Deals
JTEKT India: JTEKT Corporation sold 13 lakh (0.53%) shares at Rs 77.6 apiece.
Who’s Meeting Whom
Heidelberg Cement: To meet Franklin Templeton Mutual Fund on June 29.
Annual General Meeting today:
Asian Paints
HDFC Asset Management Company
Mindspace Business Parks REIT
Polycab India
Sundaram Fastners
Balaji Amines
Prism Johnson
Eveready Industries
Bombay Dyeing & Manufacturing
Agro Tech Foods
Trading Tweaks
Price Band Revised from 20% To 10%: Spandana Sphoorty Financial
Ex-Date Dividend: Sona Blw Precision Forgings
Ex-Date Annual General Meeting/Dividend: Tata Steel Long Products, Sundaram Finance Holdings, Vaibhav Global
Record Date Annual General Meeting/Dividend: SKF India
Money Market Update
The rupee ended at Rs 78.78 against the U.S. Dollar on Tuesday as compared to Monday's closing of 78.34
F&O Cues
Nifty June futures ended at 15,859, a premium of 8.8 points.
Nifty June futures shed 8.16% and 13,854 shares in Open Interest.
Nifty Bank June futures ended at 33,698.95, a premium of 56.5 points.
Nifty Bank June futures shed 19.67% and 11,757 shares in Open Interest.
Securities in ban list: Sun TV, Delta Corp.
Research Reports
Concor - Well Placed To Capitalise On The DFC Opportunity: Motilal Oswal
M&M - Mahindra Scorpio N, A Third Blockbuster, Potential To Create ‘Wow’ Factor: IDBI Capital
Bajaj Consumer Care - Weak Rural; Though Category Headwind Still Persist: Centrum Broking
Rico Auto Industries - Growth Visibility Remains Strong: HDFC Securities Initiates Coverage
Dr. Reddy’s - Foray Into Injectables To Provide Growth Impetus: Axis Securities