The MidCap gauge almost mirrored its larger peers while the SmallCap index underperformed falling over 0.5%. Ten of the 19 sectoral indices compiled by BSE Ltd. declined with realty index shedding nearly 0.9%.
The market breadth was skewed in the favour of bears. About 1,430 stocks advanced, 1,966 declined and 161 remained unchanged.
JUST INMedia reports claim RBI is considering changes to existing currency notes by replacing face of Mahatma Gandhi with that of others.
There is no such proposal in the Reserve Bank.
Media reports claim RBI is considering changes to existing currency notes by replacing face of Mahatma Gandhi with that of others.
There is no such proposal in the Reserve Bank.
Source: RBI statement
The pact to supply 10,000 XPRES T vehicles is the biggest EV fleet order in India, says Tata Motors.
The latest order is on top of the order to supply 3,500 units between the two companies last year.
Source: Company Statement
The broader indices underperformed their larger peers with S&P BSE MidCap falling 0.35% and S&P BSE SmallCap losing 0.6%. Twelve of the 19 sectoral indices compiled by BSE Ltd declined with consumer durables index shedding 0.8%.
The market breadth is skewed in the favour of bears. About 1,305 stocks advanced, 1,962 fell and 176 remained unchanged.
Larsen & Toubro's construction arm received an order from Brihanmumbai Municipal Corporation, BMC to execute the Bandra Wastewater Treatment Facility.
The scope of the project includes Design, Build, Operation and Maintenance of the 360 MLD sewage plant.
L&T termed the order 'large', implying that the order value is between Rs 2,500 crore and Rs 5,000 crore.
Source: Exchange filing
Cricketer MS Dhoni has made an undisclosed investment in Chennai-based drone startup Garuda Aerospace.
Dhoni will also be the brand ambassador for the startup.
The funding is a part of the startup’s pre-Series A round of $30 million.
Source: Press statement
The S&P BSE Sensex fell 0.15% to 55,686.56. The NSE Nifty 50 declined by similar magnitude to 16,573..
The broader indices underperformed their larger peers with both S&P BSE MidCap and SmallCap losing 0.4%. Twelve of the 19 sectoral indices compiled by BSE Ltd. declined with S&P BSE Information Technology, Metal leading the losses.
The market breadth is skewed in the favour of bears. About 1,109 stocks advanced, 1,236 fell and 129 remained unchanged.
Indian currency opened at 77.66 on Monday. The Rupee closed at 77.63 on Friday.
Source: Bloomberg
Total vehicle retail for the month of May rose 207% YoY, according to FADA's May Vehicle Retail data.
2-Wheeler, 3-Wheeler, PV, Tractor, CV retail are up 198%, 696%, 204%, 216% and 278% YoY respectively.
YoY comparison with 2021 and 2020 will not give true representation for the state of auto retail as May 2020 and 2021 witnessed nationwide lockdown during phase 1 and 2 of covid, according to FADA
Auto retail has still not recovered from the jitters of Covid. Total vehicle retail is down 10% when compared to May 2019.
Government's reduction in fuel prices will likely tame inflation and aid vehicle sales, according to FADA.
2-Wheeler EV sales were growing rapidly. But various fire incidents have created fear in the mind of the customer. This along with supply chain issues led to the drastic fall in EV sales MoM.
RBI's warning of more inflation could result in lower disposable income, which will likely hamper auto sales.
Source: FADA
Cyient signs definitive agreements to acquire Portugal-based Celfinet for 41 million Euro. Celfinet is an international wireless engineering services firm.
With this acquisition, Cyient looks to strengthen its wireless engineering practice to support Communication Service Providers (CSPs) and Enterprises amid transition to 5G.
Acquisition to also strengthen Cyient's presence in Europe.
The indicative period for completion of the acquisiton is on or before June 20.
Source: Exchange filing
Zydus Lifesciences has received final nod from U.S. FDA to market Famotidine tablets, 20 mg and 40 mg.
Famotidine is used to prevent and treat heartburn and other symptoms caused by excessive acid in the stomach.
The drug, which had a market size of $67 million in the 12-month period ending April 2022 according to IQVIA, will be manufactured at the company's facility in Ahmedabad.
With this approval, Zydus Life has 315 approvals and has filed over 420 ANDAs since FY2003-04.
Source: Exchange filing
Today, India has achieved 10% ethanol blending in petrol 5 months ahead of its target: PM Modi at 'Save Soil Movement' program pic.twitter.com/UyfWO2MXHj
— ANI (@ANI) June 5, 2022
Adani Transmission: The company will acquire Essar's Mahan-Sipat transmission project for Rs 1,913 crore. The 673 circuit kilometers operational 400 KV inter-state transmission line links Mahan in Madhya Pradesh to Sipat in Chhattisgarh state. ATL will reach 19,468 circuit kilometres, including 14,952 circuit kilometres of operational lines, after the deal is completed.
NTPC: The company has signed a memorandum of understanding with MECON for consultancy and project management services for its coal mines.
Punjab & Sind Bank: The Reserve Bank of India imposed a monetary penalty of Rs 27.5 lakh for violation of RBI’s External Benchmark Based Lending directions.
Hemisphere Properties: The company has invited Expression of Interest for Farm House Plots on land parcel of Company located in Chattarpur, New Delhi.
PNB Gilts: Chairman Swarup Kumar Saha has resigned with immediate effect.
Reliance Infrastructure: The company approved raising of $500 million (Rs 3,884 crore) via foreign currency convertible bonds.
Poonawalla Fincorp: SEBI found that Managing Director Abhay Bhatuda had not communicated Unpublished Price Sensitive Information and hence the interim and confirmatory orders was revoked.
Stocks in Asia fell after a robust U.S. jobs heightened chances for the Federal Reserve to maintain an assertive stance on inflation and rise in oil prices.
Equities declined in Japan and Australia. US futures were volatile after the S&P 500 retreated for an eighth week in nine.
The Singapore-traded SGX Nifty, an early barometer of India's benchmark Nifty 50, fell 0.55 to 16,498 points as of 7:15 a.m.
Elsewhere, crude oil rose past $120 a barrel as shortage worries persist
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