Good morning!
The GIFT Nifty, an early indicator for the benchmark Nifty 50, is down 0.61% at 23,279.5 as of 6:48 a.m. Equity-index futures for the US (S&P 500) dipped 0.40%, while Europe (Euro Stoxx 50) rose 0.12%
India Market Recap
Nifty ended below 23,400 level for the first time since May 13 while Sensex closed over 500 points lower. The Nifty 50 fell as much as 0.70% to 23,382.60 after rising as much as 0.8% to 23,733.70 earlier in the session. The Sensex fell as much as 0.68% to 74,267.34, nearly 1,000 points below the day's high of 75,357.93.
US Market Recap
Wall Street gained even as oil prices advanced, with Nvidia leading the tech sector after the launch of a new chip for PCs. S&P 500 closed 0.26% up at 7,599.96, while the Nasdaq Composite advanced 0.42% to 27,086.81. The Dow Jones Industrial Average remained 0.09% higher to end at 51,078.88.
Asian Market Update
Asian markets opened lower as investors continue to assess US-Iran tensions, while Wall Street benchmark indexes rose to new highs amid tech optimism. Japan's Nikkei 225 opened 0.52% down and Topix dropped 0.98%. South Korea's Kospi declined 0.32% and the small-cap Kosdaq fell 2.5%.
Commodity Check
Crudel prices steadied following their biggest daily gain in nearly a month amid uncertainties over US-Iran negotiations kept traders focused on the risk of prolonged disruption to Middle Eastern energy supplies. Brent crude settled below $95 a barrel, and West Texas Intermediate traded near $92 a barrel. Meanwhile, gold continues to drop trading at $4,490 an ounce, according to Bloomberg data.
Business Update
NMDC (May Business Update):
Iron ore production of 5.31 million tonnes vs 4.43 million tonnes YoY
Sales decline to 4.04 million tonnes vs 4.34 million tonnes YoY.
Coal India
Offers 257.42 lakh tonnes of coal and coal products in May
Allocates 84.20 lakh tonnes under the SWMA e‑auction.
Maruti Suzuki (May Business Update)
Total production up 17.4% YoY at 2.3 lakh units
Passenger vehicle production rises 16.9% YoY to 2.26 lakh units.
Force Motors (May Auto Sales)
Total sales decline 15.4% YoY to 2,614 units
Domestic sales down 14.7% YoY and exports down 37.2% YoY.
Stocks In News
Tata Elxsi: The company sets June 10 as the record date for a dividend of Rs. 75 per share for FY26. The Annual General Meeting is scheduled for June 24.
Black Box: The company signs a partnership with AIONOS to scale AI‑led infrastructure and application services.
Wipro: The company's arm will acquire an additional 20% stake in affiliate Aggne Global for USD 28.5 million. The transaction is expected to be completed by June 5.
MOIL: The company revises prices of manganese ore and related products, cutting prices of ferro grades by 6%.
Jindal Stainless: The company will consider the candidature of Kunjal Mehta for the position of Chief Financial Officer.
GIC Housing Finance: The company announces that Ashwani Kumar ceases to be a Non‑Executive Director following his exit as MD & CEO of UCO Bank.
Billionbrains Garage (Groww): The company announces that State Street Global Advisors will acquire a stake in its arm Groww AMC, with an economic interest of 22.9%.
Cochin Shipyard: The company extends the additional charge of CMD to Jose VJ for a further period of three months.
Coal India: The government's shareholding in the company reduces to 61.1% post OFS from 63.1% earlier.
Karur Vysya Bank: The company opens a new branch in Chennai.
Fino Payments Bank: The company partners with Ezee.ai to build a lending ecosystem as part of its transition to a Small Finance Bank.
UltraTech Cement: The company will consider Q1 earnings on July 20.
Equitas Small Finance Bank: The company receives RBI approval for acquisition of a 9.5% stake by Mirae Asset Mutual Fund.
Ola Electric: The company opens its QIP issue, setting a floor price of Rs. 37.74 per share, with a potential discount of up to 5%.
RateGain Travel Technologies: ICICI Prudential Mutual Fund sells a 2.1% stake, reducing its holding to 2.88%.
Strides Pharma Science: The demerger of the Arco Lab business into Pivot Path becomes effective.
VIP Industries:
The company launches three luggage collections under the “Travel VIP” campaign.
The company discontinues sale of products under the “Carlton” brand from today, stating no financial impact and citing compliance with Supreme Court directions.
Authum Investment & Infrastructure: Amit Kumar Jha resigns as CFO to pursue other opportunities.
Carysil: The Registrar of Companies strikes off subsidiary Carysil Ceramictech.
Indiqube Spaces: The company signs a Rs. 52 crore workspace deal with a Bengaluru‑based company for a tenure of five years.
Poly Medicure: The company appoints Indranil Mukherjee as CEO for Asia Pacific and India business.
Anant Raj: The company will invest Rs. 25,000 crore to build a data centre and develop cloud services in Haryana under an MoU with the state.
Protean eGov Technologies: Ajay Rajan takes over as MD & CEO, while V Easwaran ceases to be Interim CEO.
Adani Energy Solutions: The company incorporates seven wholly‑owned subsidiaries.
Excelsoft Technologies: Subramaniam Ravi resigns as CFO effective August 31 due to health reasons.
Emami: The company completes acquisition of a 59.69% stake in IncNut Digital.
Cantabil Retail: The company opens four new showrooms in May, taking total store count to 662.
Max Financial Services: The company receives Rs. 381 crore from Axis Bank via share subscription and will allot 2.5 crore shares of Axis Max Life, reducing its stake to 80.01%.
ACME Solar Holdings: The company opens its QIP issue with a floor price of Rs. 294.13 per share.
One 97 Communications (Paytm): The company's arm Paytm Cloud completes an additional investment of EUR 9 million in Paytm Europe.
ACME Solar Holdings: The company's arm commissions a 33.3 MW Battery Energy Storage System (BESS) project in Jodhpur. The commercial operation date is June 3.
Suryoday Small Finance Bank: The company's board will consider fundraising via QIP, rights issue, and other modes at its meeting scheduled on June 25.
Info Edge (Naukri JobSpeak – May): White‑collar hiring remains stable with no change. Hiring for AI/ML roles with salaries above Rs. 30 lakh rises 27%, while fresher hiring increases in Jaipur and Coimbatore. Insurance hiring grows 19% YoY, banking hiring declines 15% YoY, and telecom hiring falls 12% YoY.
Canara Bank: The government appoints Brajesh Kumar Singh as Managing Director and CEO. He was earlier Executive Director at Indian Bank.
PNC Infratech: The company receives a Letter of Award worth Rs. 194 crore from a Lucknow development authority for construction of a 4‑lane flyover in Lucknow.
Indian Bank: Brajesh Kumar Singh ceases to be Executive Director following his appointment as MD & CEO of Canara Bank.
Firstsource Solutions: The company, along with AppliedAI, reports real‑world outcomes from its strategic partnership focused on AI‑led solutions.
NHPC: The government proposes to sell up to 3% stake via OFS, with an option to sell an additional 3%. The offer opens on June 2 for non‑retail investors and June 3 for retail investors. The floor price is set at Rs. 71 per share.
Lemon Tree Hotels: The company terminates its franchise agreement with Sparsh Inn for an upcoming hotel project in Bareilly.
Urban Company: The Saudi Arabia Ministry cancels registration of its step‑down arm UC KSA, which ceases to be a subsidiary of the company.
Bulk & Block Deals
Lloyds Metals & Energy: BNP Paribas Financial bought 8.9 lakh shares at Rs 1,802.10/share. Morgan Stanley Asia sold 8.9 lakh shares at Rs 1,802.10/share.
CGCL: Morgan Stanley bought 50 lakh shares at Rs 192.50/share. Gainful Multitrade and Samvrudhi Tradesol sold 50 lakh shares at Rs 192.50/share.
Indiabulls Enterprises: Unico Global Opportunities Fund bought 1.5 crore shares at Rs 21/share. ACM Global Fund sold 1.5 crore shares at Rs 21/share.
Marsons: Anupriya Consultants sold 13.66 lakh shares at Rs 141.15/share.
Ravindra Energy: Khandepar Investments sold 22 lakh shares at Rs 118.92/share.
SJS Enterprises: Joseph Kannampadathil Abraham sold 1.65 lakh shares at Rs 2,100/share.
Insider Trades
Ravindra Energy: Promoter Khandepar Investments sold 22 lakh shares.
Coal India: Promoter President of India sold 12.33 crore shares.
Paisalo Digital: Promoter Group Sulabhya Paramita Trust bought 28 lakh shares.
Paisalo Digital: Promoter Group Santanu Agarwal bought 18 lakh shares.
Paisalo Digital: Promoter Sunil Purushottam Agarwal bought 18 lakh shares.
Paradeep Phosphates: Promoter Zuari Maroc Phosphates bought 0.8 lakh shares.
Euro Pratik Sales: Promoter and Director Jai Gunvantraj Singhvi bought 0.64 lakh shares.
Price Band
Price band revised from 10% to 5% for Aditya Infotech.
ASM
Securities shortlisted under Long-Term ASM: Fineotex Chemical.
Securities shortlisted under Short-Term ASM: Sakar Healthcare, Supriya Lifescience, Wockhardt.
Securities excluded from ASM: Fineotex Chemical, Fusion Finance, Sharda Cropchem, Suven Life Sciences.
F&O Cues
Nifty June futures down 1.22% to 23,459.90, trading at a premium of 77 points.
Maximum Call open interest at 24,000.
Maximum Put open interest at 23,000.
Securities in ban period: Amber Enterprises, Kaynes Technology.
Photo Credit: NDTV Profit
Photo Credit: NDTV Profit
Currency Check
The rupee depreciated 10 paise to close at 94.95 (provisional) against the US dollar on Monday, amid renewed geopolitical tensions between the US and Iran and surge in crude oil prices.
Forex traders said the strength of the American currency in the overseas market and Israel-Lebanon tensions also deteriorated global risk sentiments.
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