Stocks in focus: The SGX Nifty recorded a gain of 0.01% during Monday’s early trading session, with a value of 18,901 indicating a flat opening for domestic indices NSE Nifty 50 and BSE Sensex. Domestic indices ended the last session of the week broadly in green. The NSE Nifty 50 gained 138 points to 18,826 and BSE Sensex skyrocketed 0.74% to 63,385.
“The domestic market rebounded with strong buying in banking, pharma, and consumer stocks, along with positive cues from global markets. The US market’s optimism was bolstered by better-than-expected retail sales, reflecting the robustness of the economy. Furthermore, jobless claims remain elevated and a decline in import prices raised hopes for a prolonged pause in interest rate hikes by the Fed, contradicting their announcement of potential future rate hikes made the previous day,” said Vinod Nair, Head of Research, Geojit Financial Services.
Kalyan Jewellers India
Highdell Investment, a private equity firm backed by Warburg Pincus, divested 6.41 crore equity shares, equivalent to a 6.2% stake, in Kalyan Jewellers India. The average price per share for this transaction was Rs 113.1. Several buyers participated in this sale, including Nomura India Investment Fund Mother Fund, Franklin Templeton Mutual Fund through Franklin India Flexi Cap Fund, and BNP Paribas Arbitrage.
Axiscades Technologies
Axiscades’ board members approved the 100% acquisition of add solution GmbH in Germany, for a total consideration of 5.5 million euros. add solution GmbH specialises in automotive solutions to global OEMs.
Automobile Corporation, Craftsman Automation, Hindustan Unilever
Automobile Corporation, Craftsman Automation, and Hindustan Unilever shares will trade ex-dividend today.
Dr Reddy’s
The US FDA completed an inspection at Dr Reddy’s Laboratories manufacturing facilities and closed the good manufacturing inspection with no observations on 16 June.
Motilal Oswal Financial Services
The financial services player announced that the record date for its final dividend for the year 2022-2023 will be 4 July.
ABB India
Kanpur Metro deployed ABB India’s Electrification solutions for safe power distribution. ABB India has been contributing to Indian Metro systems by providing electrification solutions to 13 metro rail projects across India. ABB India has provided the Kanpur metro with Low Voltage Switchboards, Medium Voltage Panels and Lighting Distribution Boards.