Stock Market Today: All You Need To Know Going Into Trade On June 2

Stocks in Asia fell Thursday amid efforts to rein in inflation even as JPMorgan Chase & Co.'s Jamie Dimon sounded alarm bells on the economy.

An MSCI Inc. gauge of Asia-Pacific shares fell for a second day, with equities in Hong Kong and Japan declining. US futures fluctuated after stocks dropped on Wall Street.

The Singapore-traded SGX Nifty, an early barometer of India's benchmark Nifty 50, fell 0.43% to 16,437 points as of 7:30 am.

The dollar was little changed. Crude oil declined on a report Saudi Arabia is ready to pump more oil if Russian output declines. OPEC+ is scheduled to meet to discuss supply policy.

Stocks To Watch

• Yes Bank: The private lender is nearing a deal to sell a pool of Rs 48,000 crore in stressed assets to the US-based JC Flowers & Co.

• Reliance Industries: Reliance Brands and Plastic Legno SPA have signed a joint venture arrangement for toys manufacturing in India.

• Maruti Suzuki: Total production rose 303 year-on-year to 1,64,859 units in in May 2022 even as sales increased to 1,61,413 units from 46,555 units a year ago.

• Vedanta: The company will consider raising Rs 4,100 crore through non-convertible debentures on June 4.

• Bata India: Bata (BN) B.V., The Netherlands, says the sale of its 2.8% stake in Bata India is part of an internal restructuring and that it still holds 50.1% in the Indian subsidiary.

• IndusInd Bank: The bank has further reduced its stake in Birla Tyres from 7.498% to 3.869%.

• Religare Enterprises: Lenders to wholly owned subsidiary Religare Finvest have agreed to consider a one-time settlement plan as part of the company's revival plan.

• Welspun: The company's Saudi Arabia's arm East Pipes has signed a contract with Saline Water Conversion Corp. worth Rs 1,013.24 crore to supply and deliver steel pipes for a water transmission project.

• Delta Corp: Delta Pleasure Cruise Co. Pvt. Ltd. has commenced management of operations of the casino at Zuri White Sands Goa, Resort and Casino.

• Ashoka Buildcon: Ashoka Highways (Bhandara) has received Rs 97.37 crore -- inclusive of interest -- towards full and final settlement against claims and various other disputes under the concession agreement.

• Indian Bank: The lender has raised lending rates by 10-90 basis point across tenors after RBI's out-of-turn rate hike.

• Hero MotoCorp: Sales rose 169% year-on-year to 4,86,704 units in May 2022. India's largest two-wheeler maker has deferred the launch of its first electric scooter from July to the festive season due to supply chain constraints.

• Balaji Amines: The company has approved fundraising by subsidiary Balaji Speciality Chemicals via an initial public offering comprising a fresh issue of Rs 250 crore and/or an offer for sale “by certain existing and eligible shareholders”.

• Astron Paper & Board Mill: Search proceedings were carried out by the Income Tax Department under Section 132 of the Income Tax Act, 1961, at the head office of the company from May 26-29.

Pledged Share Details

• Chambal Fertilisers & Chemicals: Promoter Group Simon India created a pledge of 2.75 lakh shares on May 27.

• Max Financial Services: Promoter Max Ventures Investment Holdings created a pledge of 17.36 lakh shares and revoked a pledge of 28.86 lakh shares between May 30 and May 31.

• Steel Strips Wheels: Promoter & Director Dheeraj Garg created a pledge of 3.5 lakh shares and revoked a pledge of 4.5 lakh shares between May 30 and May 31.

Insider Trades

• Mukand: Promoter Group Bachhraj Factories bought 19,684 shares between May 26 and May 27.

• Zensar Technologies: Summit Securities and Promoter Group Instant Holdings bought 50,000 shares each on May 30.

• Navneet Education: Promoter Bipin A Gala-Siddhant Investments bought 10,000 shares on May 27.

• Manappuram Finance: Promoter & Director Nandakumar VP bought 1.04 lakh shares on May 31.

• Zydus Wellness: Promoter Group Zydus Family Trust bought 8,079 shares on May 31.

• Geojit Financial Services: Promoter BNP Paribas SA sold 4.86 lakh shares between May 30 and May 31.

• KEC International: Promoter Group Instant Holdings bought 3,714 and Promoter Group Summit Securities bought 5,103 shares May 30.

• IRB Infrastructure Developers: Promoter & Director Virendra Mhaiskar bought 84,887 shares on May 31.

• Shalby Hospitals: Promoter Vikram Indrajit Shah bought 10,000 shares on May 31.

Bulk Deals

• Ami Organics: Plutus Wealth Management LLP bought 525000 (1.44%) shares at Rs 880 apiece.

Block Deals

• NXT Digital: Hinduja Group bought 2.75 lakh (0.81%) shares at Rs 380 apiece. Hinduja Realty Ventures bought 8.25 lakh (2.45%) shares at Rs 380 apiece. Aasia Exports sold 11 lakh (3.36%) shares at Rs 380 apiece.

• Bata India: Bata (BN) BV sold 36 lakh (2.8%) shares at Rs 1860 apiece. Mutual funds bought 11.2 lakh (0.87%) shares in total at Rs 1,860 apiece.

Trading Tweaks

• Price Band Revised From 10% To 5%: Suryoday Small Finance Bank

• Record Date Interim Dividend: IIFL Wealth Management

• Record Date Buyback: Zydus Lifesciences

• Ex-Date Interim Dividend: Page Industries

• Ex-Date Final Dividend: Castrol India, Tata Investment Corporation

• Ex-Date AGM/Dividend: Tata Investment Corporation, Tata Coffee

• Record Date Income Distribution: Data Infrastructure Trust

• Ex-Date Bonus Issue: Mishtann Foods

• Moved Out Of Short-Term ASM Framework: Future Enterprises

Who's Meeting Whom

• Tata Communications: To meet investors on June 14.

Money Market Update

The rupee ended at Rs 77.52 against the U.S. Dollar on Wednesday as compared to Tuesday's closing of 77.63

F&O Cues

• Nifty June futures ended at 16,529.65, a premium of 6.9 points.

• Nifty June futures shed 0.20% and 420 shares in Open Interest.

• Nifty Bank June futures ended at 35,750.80, a premium of 130 points.

• Nifty Bank June futures shed 5.75% and 5,569 shares in Open Interest.