Indian stock markets are set to open on a dismal note after US markets plunged into bearish territory on the double whammy of fears of an upcoming policy rate hike and a shrinking central bank balance sheet. At 07:11, the SGX Nifty Futures was reading 15,694 levels, signaling a gap of about 80 points on the Nifty50. That aside, retail price inflation in India fell to 7.04% in May after hitting an eight-year high of 7.79% in April. However, headline inflation remained above the Reserve Bank of India’s (RBI) upper tolerance limit for the fifth consecutive month.
In addition, markets will be watching two national macro reports due out on Tuesday, June 14 – India’s Trade Balance data and Wholesale Price Index (WPI) data for the month of May.
In the meantime, here are the stocks likely to see action in trade on Tuesday:
Bajaj Finance: The lender raised interest rates on fixed deposits over various tenors, from 24 to 60 months, by up to 20 basis points (0.20%). With this, depositors will earn a cumulative return of 7.20% on deposits between 36 months and 60 months. READ HERE
Zydus Life Sciences: The company will open its share buyback offer on June 23 and close on July 6. The pharmaceutical firm has set July 15 as the deadline for the settlement of stock market offers. The board has approved the repurchase of over 1.15 crore shares, representing up to 1.13% of the company’s total paid-up share capital, for a maximum of Rs 750 crore. READ HERE
Amara Raja Batteries: Group company Amara Raja Power Systems has won a contract from NTPC to set up India’s first green hydrogen refueling station in Leh. The pilot project is being set up in the extreme conditions of Leh at an altitude of 3,600 meters above sea level, in line with the government’s vision to achieve net zero carbon emission by 2070. READ HERE
FPI Embassy: The company has distributed over Rs 5,800 crore to unit holders since its IPO in April 2019 and has delivered over 15% annualized total returns. With three years of successful listing and strong business performance, the company said it has leased 6.4 million square feet across 135 transactions, growing its occupier base to more than 200 blue-chip businesses. READ HERE
Metropolis Health: Clarifying media reports on the sale of the promoters’ stakes, the diagnostic channel claimed that the promoters have no intention of leaving the company. The company clarified that the promoters were focusing on brand building; however, he continues to explore various strategic options or investment opportunities. READ MORE
IIFL Finances: The company’s property finance arm, IIFL Home Finance, plans to raise between Rs 4,000 and 5,000 crore through the direct provision of housing loans and increase funding for developers, especially those who meet the standards. of green finance.
Tata Steel: The major steelmaker has unveiled a £7m investment plan for its Hartlepool tube mill in north east England that will cut carbon emissions, improve capacity and cut costs to boost its business United Kingdom.
Crompton Greaves Consumer Electrical Products: The company plans to raise long-term funds of up to Rs 925 crore through the issuance of non-convertible debentures on a private placement basis. The board also approved the takeover of rated and listed commercial paper aggregating up to Rs 600 crore.
Infosys: The IT major will set up four new offices in Tier 2 cities to come closer together to bring in the pool of available talent. The company already had smaller centers in Indore and Nagpur, but will now open offices in Coimbatore, Vizag, Kolkata and Noida.
Bharti Airtel: The telecommunications operator has announced that its video streaming service, Airtel Xstream, has reached the milestone of 2 million paying subscribers. While the video streaming service offers a range of OTT platforms to consumers across mobile and big-screen formats, it aims to reach 20 million paying subscribers.
Berger Paintings: The company is forecasting a loss of between Rs 75 lakh and 1 crore due to an accidental fire at the factory outlet in Howrah, West Bengal. However, the loss was fully recovered by insurance as the total sum insured for the Howrah plant was Rs 218 crore.
Stocks under F&O prohibition: Delta Corporation and RBL Bank are prohibited stocks during the F&O blackout period on Tuesday, June 14.