Yes Bank on the cusp of raising $1 billion from Carlyle and Advent International
This comes after much delay due to an ongoing deal to lay off a large portion of bad loans through an asset reconstruction company (ARC)
Nifty Pharma index rose 2 percent supported by the Aurobindo Pharma, Lupin, Glenmark Pharma:
Gold Prices Today: Yellow metal to stay range-bound amid volatile global markets; softer dollar to lend support
Ease in dollar may send prices of precious metals higher in today’s session. Gold has support at Rs 50500 and resistance at Rs 51000. Silver has support at Rs 60400 and resistance at Rs 62100, said…
Market at 10 AMBenchmark indices extended the opening gains and trading at day’s high level with Nifty above 15500.The Sensex was up 624.22 points or 1.21% at 52222.06, and the Nifty was up 194.80 points or 1.27% at 15545. About 2118 shares have advanced, 651 shares declined, and 90 shares are unchanged.
Shalby Hospitals will be adding 50 orthopedic centers across India and abroad through franchisee route in next 3-5 years, as it plans to offer surgeries with quick turnaround times, Company told to Economic Times.
BSE Auto index added 1 percent supported by the Tata Motors, Hero MotoCorp, Bosch
Suven Life Sciences board to consider fundraising on June 24A meeting of the board of directors of Suven Life Sciences is scheduled to be held on Friday, 24th June, 2022 at 11:00 a.m., to consider matters related to raising of funds through issue of equity shares of the company on rights basis to the existing equity shareholders of the company, company said in its release.
BuzzingKEC International share price increased more than 5 percent in early trade on June 21 after the company secured new orders of Rs 1,092 crore across its various businesses.
Eicher Motors Large Trade | 4.37 lakh shares (0.16% equity) of Eicher Motors worth Rs 116.8 crore change hands at Rs 2,672.7 per share.
Nifty Information Technology index gained 1 percent supported by the Coforge, L&T Technology Services, Mphasis
BSE Metal index added over 1 percent led by the Hindalco Industries, JSW Steel, Nalco
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services:
A distinct trend in the market now is the weakness in the broader market. While Nifty 50 is down 5.6 percent during the last one month, Nifty Mid and Small- cap indices are down 9.25 percent and 12.63 percent, respectively, during the same period. This trend is likely to continue as long as the market remains weak. The pullback rally will be led by high-quality fundamentally strong large-caps.
Meanwhile, the Finance ministry’s latest Monthly Economic Review warns about the stress in government’s finances caused by the rising food and fertiliser subsidies and revenue forgone from cuts in petrol and diesel taxes. Both fiscal and current account deficits are likely to deteriorate surpassing budget estimates.
This macro headwind can turn out to be a headwind for markets too, particularly if crude remains at elevated levels. Investors should seek the safety of fundamentally strong large-caps during this phase of market turbulence.
