Market at 1 PMBenchmark indices were trading flat in the highly volatile session ahead of F&O expiry.The Sensex was up 1.71 points or 0.00% at 53028.68, and the Nifty was down 22.00 points or 0.14% at 15777.10. About 1300 shares have advanced, 1698 shares declined, and 129 shares are unchanged.
BSE Metal index fell 2 percent dragged by the Vedanta, Coal India, JSW Steel
Buzzing:Wonderla Holidays: The company has signed agreement with the Government of Odisha for leasing land about 50 acres towards development of amusement park project in Bhubaneswar, Odisha.
Infosys invests $10 million in US-based The House Fund
Infosys: The company has agreed with The House Fund III, L.P., a Venture Capital (VC) fund based out of the US, for investment of $10 million. The investment is expected to be completed by June 30 this year. This is a minority holding and is not exceeding 20 percent of the fund size. The House Fund is a pre-seed and early-stage VC fund, investing in startups from the UCB’s ecosystem focused on AI.
Infosys was quoting at Rs 1,464.00, up Rs 0.30, or 0.02 percent.
Macquarie View On Jubilant FoodWorks
Brokerage firm Macquarie has kept underperform rating on Jubilant FoodWorks with a target at Rs 440 per share.
The lower remuneration to delivery gig workers exposes company to attrition risk and have limited ability to pass on inflation seen in past cycles.
Recent reports of key manager moving out, suggests additional management churn, reported CNBC-TV18.
Jubilant Foodworks was quoting at Rs 514.65, up Rs 0.95, or 0.18 percent on the BSE.
BSE Auto index slipped 0.6 percent dragged by the Escorts, Eicher Motors, Tube Investments of India
Asian Paints’ shareholders approve re-appointment of Amit Syngle as MD & CEOThe shareholders of Asian Paints India at their AGM held on June 29, 2022, have approved the re-appointment of Mr. Amit Syngle as the Managing Director & CEO of the company, with requisite majority.
Market at 12 PMBenchmark indices were trading flat in the volatile session.The Sensex was up 26.83 points or 0.05% at 53053.80, and the Nifty was down 8.10 points or 0.05% at 15791. About 1402 shares have advanced, 1549 shares declined, and 113 shares are unchanged.
Today’s Stock Market Action
Power Grid to consider fundraising of up to Rs 6,000 croreA meeting of the Board of Directors of Power Grid Corporation of India will be held on July 6, 2022 to consider and approve raising of funds up to Rs 6,000 crore, from domestic market through issue of secured I unsecured, non-convertible, noncumulative I cumulative, redeemable, taxable I tax-free Debentures I Bonds under Private Placement during the Financial Year 2023-24 in upto twenty tranches/offers; and sanction of rupee term loan of upto Rs 5000 crore from commercial bank to meet capital expenditure requirements.”
TCS launches servitisation engine on Oracle CloudTata Consultancy Services has launched the TCS Servitization Engine on Oracle Cloud to help customers create subscription-first business models and provide outcome-based solutions with intelligent service capabilities.
Investec View On Exide Industries
Investec has maintained buy rating on Exide Industries and cut target to Rs 200 from Rs 230 per share.
The Nexcharge is a key strategic investment and have first mover advantage in new tech landscape of lithium-ion batteries.
The valuations at current levels are supportive, reported CNBC-TV18.
Exide Industries was quoting at Rs 138.70, down Rs 0.65, or 0.47 percent on the BSE.
