nifty Futures on the Singapore Exchange were trading 22.5 points, or 0.15 per cent, higher at 15,384.50, indicating that Dalal Street was headed for a positive start on Tuesday. Markets return to positive levels in yesterday’s session BSE Sensex Over 200 points supported by FMCG, IT stocks and HDFC twins. The rally from European counterparts also picked up momentum on Dalal Street. Experts call this a relief rally after the market entered oversold levels, as the benchmark indices had fallen nearly 7 per cent in the past six consecutive sessions. BSE Sensex Closed 237 points higher at 51,598, while Nifty 50 climbed 57 points to end at 15,350.
HUDCO
Fitch Ratings has confirmed the rating of Housing and Urban Development Corporation at ‘BBB-‘ level i.e. sovereign level. At the same time, the rating agency has downgraded HUDCO’s outlook from ‘negative’ to ‘stable’. Rating action follows change in government’s approach India Rating ‘Stable’ to ‘Negative’ as on June 10, 2022.
oil and natural gas corporation
The Ministry of Petroleum and Natural Gas has approved extension of the additional charge of the post of Chairman and Managing Director (CMD) to Alka Mittal, Director (HR) for a period of two months from July 1 to August 31, 2022 or for a period of two months. Appointment of a regular incumbent to the post, or until further orders, whichever is earlier.
Adani Power
The utility firm completed the acquisition of 100 per cent equity in SPPL and EREPL for approximately Rs 609 crore. On June 7, 2022, Adani Power had signed a share-purchase agreement to acquire 100 per cent equity shares of two companies- Support Properties (SPPL) and Eternus Real Estate (EREPL) from their respective shareholders.
Vodafone Idea
The board of the debt-ridden telecom firm is scheduled to meet on June 22, in which a proposal to raise funds of Rs 500 crore from Vodafone Group will be considered. One or more entities belonging to Vodafone Group will have to raise funds through issuance of equity shares or convertible warrants on a preferential basis.
Happiest Mind Technologies
Morgan Stanley Investment Funds offloaded shares of the IT company through open market transactions for Rs 105 crore. According to the bulk deal data available with BSE, Morgan Stanley Investment Funds Emerging Leaders Equity Fund sold 13,14,055 shares, which is equivalent to 0.9 per cent stake in the company.
Ashok Leyland
Commercial vehicle maker and flagship firm of Hinduja Group has strengthened its CNG powered Intermediate Commercial Vehicle (ICV) portfolio with the launch of its Ecomet Star 1115 truck in the 11.44 Ton Gross Value Weight (GVW) category.
Suven Life Sciences
The company informed the exchanges that the Board of Directors will meet on June 24 to consider raising funds by issuing equity shares on rights basis to the existing equity shareholders of the company.
Fineotex Chemical
The company said that a meeting of the board will be held on June 24 to decide on raising funds by issuing equity shares. It is subject to shareholders and regulatory approval.
Engineers India
The company said the board of directors has nominated Sanjay Jindal, director (finance) as the chief financial officer of the company in place of Vartika Shukla, CMD and additional charge director (technical). The appointment is for a period of five years with immediate effect, or till the date of his retirement or until further orders, whichever is earlier.
Bharat Forge
The company has decided to consolidate its electric vehicle business initiatives under wholly owned subsidiary Kalyani Powertrain (KPL) for better strategic alignment. Accordingly, its Investment Committee – Strategic Business has approved the transfer of the company’s stake in the joint venture company Refu Drive GmbH to KPL, subject to obtaining necessary approvals from the regulatory authorities.
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