Nifty futures were trading 76 points or 0.48 per cent lower at 15,702.50 on the Singapore Exchange, indicating that Dalal Street was headed for a negative start on Tuesday. A correction in global counterparts following warmer-than-expected US inflation data, a weaker rupee and FII selling pressure weighed on the market sentiments on June 13. All sectoral indices closed in the red. nifty Bank, auto, financial services, IT, metal, realty and oil and gas indices fell 2-4 per cent each. The BSE Sensex fell 1,457 points or 2.68 per cent to 52,847, while the Nifty 50 fell 427 points or 2.64 per cent to end at 15,774.
delta corp
HDFC Mutual Fund on June 10 acquired an additional 2.15 per cent equity stake in the company through open market transactions. With this, its stake in the company increased to 9.21 per cent, from 7.06 per cent earlier.
torrent power
The company has completed the acquisition of a 50 MW solar power plant from SkyPower Group in Telangana. The enterprise value of this acquisition is Rs 416 crore. The long-term power purchase agreement (PPA) for the project is with the Northern Electricity Distribution Company of Telangana (NPDCTL) at a fixed tariff of around Rs 5.35 per kWh for a period of 25 years, with a useful life of around 20 years.
Mahindra & Mahindra
The auto major is seeking approval from the National Company Law Tribunal for the merger of Mahindra Electric Mobility Ltd with itself. The value chain required for end-to-end EV development, manufacturing and sales currently stretches between M&M and MEML and needs to be consolidated, the company said.
zomato
The government has asked online food business operators like Zomato to submit a proposal within 15 days to improve their consumer grievance redressal mechanism amid rising customer complaints.
Zydus Lifesciences
The company’s Rs 750 crore share buyback offer will start from June 23 and will close on July 6. The pharmaceutical firm, formerly known as Cadila Healthcare, has fixed July 15 as the last date for disposal of bids. The board has approved the proposal for buyback of 1.15 crore shares, representing up to 1.13 per cent of the total paid-up equity share capital of the company.
Infosys
It is setting up four new offices in Tier II cities to be closer to the available talent pool. Many young employees in the IT sector were recruited from Tier II cities. Around 60 per cent of them have gone back to their hometowns and this has opened up an opportunity to attract talent from across the country.
Capri Global Capital
life insurance corporation India Purchased an additional 35.41 lakh equity shares in the company through open market transactions. With this, LIC’s stake in the company increased to 7.059 per cent, from 5.043 per cent earlier.
Dynamic Technologies
The company has won the contract to manufacture escape hatch doors for the Airbus A220 aircraft. The contract was placed by Stellia Aeronautic Canada Inc., a subsidiary of Airbus Atlantic SAS.
WPIL
The company has received an order from the Government of West Bengal for execution of a turnkey project involving commissioning of a clean water reservoir and a ground level reservoir. The value of the contract is Rs 430.87 crore and will be completed over a period of 24 months.
Ather Industries
SBI Mutual Fund acquired an additional 3.23 lakh equity shares in the company through open market transactions. With this, its stake in the company increased to 5.1775 per cent from 4.9180 per cent earlier.
LIC
The stock of Life Insurance Corporation of India (LIC) reached a new record high after the lock-in period for the anchor investors of the company. IPO Ended on 13th June. The stock closed at a record low of Rs 668.20 on BSE, down 5.85 per cent from the previous close. It opened at Rs 691.
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