Major benchmarks will likely start trading on a slightly positive note, tracking their global peers. At 7:30 am, SGX Nifty June futures were quoted at 18,685, suggesting that the Nifty 50 opened more than 50 points higher.

SpiceJet: Wilmington Trust, one of SpiceJet’s aircraft lessors, has applied to the National Company Law Tribunal (NCLT) to initiate insolvency proceedings over the airline’s non-payment of dues. The first hearing in the case will be held today.

Go Fashion: The Indian arm of US venture capital firm Sequoia Capital plans to sell a 10% stake in Go Fashion (India) worth Rs 625 crore. The deal will likely be block traded at a floor price of Rs 1,135 per share on Monday.

Tata Motors: The company has set July 29 as the record date for determining members’ entitlement to the FY23 final dividend.

Container Corporation of India (Concor): The divestment of state-owned enterprises could be delayed indefinitely as the process hits an interministerial hurdle. Two officials familiar with the developments said that the Ministry of Railways is not interested in the proposed 30.8% stake sale.

Maharashtra Seamless: The company has voluntarily prepaid an outstanding long-term loan of around Rs 234 crore (~$28.38 million) on June 9, 2023, and is now completely debt free.

Amara Raja: The Group is poised to expand its presence in the lead-acid battery sector by increasing production capacity and looking to increase its market presence in West Asia, East Asia, Southeast Asia and Africa through organic and non-organic models. It has a roadmap to increase its lead-acid sales by 150% to $3 billion over the next five years.

Indian Oil (IOC): The company has taken half of the gas offered by Reliance Industries and its British partner bp in a recent bunker auction.

Dalmia Bharat: The company plans to spend about Rs 19,000 crore to expand its cement capacity to 120 million tonnes per annum (mtpa) by 2031 to capitalise on the infrastructure and real estate boom, said managing director and chief executive Puneet Dalmia.

Bank of India (BoI): The public sector lender plans to raise up to Rs 3,000 crore in capital through secondary bonds this financial year. The bank’s board has also approved a proposal to raise up to Rs 6,500 crore in FY24, of which Rs 4,500 crore will be raised through additional primary bonds/equity and the balance of secondary bonds.

Allcargo Logistics: The company acquired a 30% stake in Gati-Kintetsu Express from KWE-Kintetsu World Express and KWE Kintetsu Express.

Maan Aluminium: The company has set July 27 as the record date for determining the eligibility of shareholders entitled to a 1:5 stock split and a 1:1 bonus issue.

Cochin Shipyard: The company has secured a contract worth Rs 300 crore from the Indian Navy for MR/Mid-Life upgrades on Indian Navy ships.

Titagarh Rail Systems: The company approved a proposal to raise Rs 288.8 crore through a preferred allotment of shares to Smallcap World Fund Inc.

Shriram Properties: The real estate firm’s CMD, M Murali, said sales bookings for the current financial year would rise 25% from last year’s record Rs 1,846 crore due to strong housing demand.

Future Enterprises: The company has sought expressions of interest for its manufacturing, trading and leasing operations across India’s retail infrastructure. The last date to receive interest is June 25, and the provisional list will be announced on July 5.

Firmer global sentiment will support the Dalal Street index on Friday, with the SGX Nifty up about 35 points at 18,755 in early trade.

Asia-Pacific markets were mostly higher after the S&P 500 hit a new 2023 high, and the Dow Jones Industrial Average rose overnight for a third straight day.

Japan’s Nikkei was up 1.5%, South Korea’s Kospi was up 0.7%, Australia’s ASX 200 was up 0.28%, and Hong Kong’s Hang Seng was up 0.11%.

Against this backdrop, US jobless claims unexpectedly rose to the highest level since October 2021, while China’s consumer price index rose 0.2% in May, and producer prices fell 4.6% year-on-year.

Aether Industries: Aether Industries Limited has signed a license agreement with Saudi Aramco Technologies to commercialize sustainable Converge polyol technology.

L&T Finance Holdings: The company’s board of directors has recommended a final dividend of Rs 2 per share for 2022-23.

Arihant Capital Markets: The company’s board of directors will meet on June 15, 2023, to consider and approve the private placement of secured unlisted redeemable non-convertible debentures (NCD).

Urja Global: Urja Global Limited entered into an agreement with Tesla Power India Private Limited on June 7 2023, to manufacture and supply batteries under the TESLA POWER USA brand.

Ex-dividend shares: Asian Paints, Bhansali Engineering Polymers, Caplin Point Laboratories, Cigniti Technologies, Dynamatic Technologies, Elecon Engineering Co, HDFC Asset Management Company, Himadri Specialty Chemical, Indian Hotel Co, National Fertilisers, NRB Bearings, Solar Industries India and Voltas.

Blue Dart: Thursday, Logistics company Blue Dart Express appointed Sudha Pai as the company’s chief financial officer (CFO), effective September 1, 2023.

Tata Power, Tata Steel: Tata Power Renewable Energy, through its subsidiary TP Vardhaman Surya Ltd, has been awarded a contract to build a 966 MW all-weather hybrid renewable energy project for Tata Steel. A company statement said the project has a mixed renewable energy capacity of 379 MW solar and 587 MW wind.

V R Films Studios: The meeting of the board of directors reviewed and approved the distribution of bonus shares at a ratio of 7:1 (7 shares per share), subject to the approval of shareholders.

Hindustan Aeronautics: The board of directors meeting is scheduled for June 27, 2023, and the proposal to split the company’s equity was reviewed and approved.

Capacite Infraprojects: Capacit’e Infraprojects plans to raise Rs 96.3 crore through a preferred equity issue to support the company’s long-term working capital needs. Separately, it has approved a preferential issue of 5.6 million shares at Rs 170 each to raise funds.

Biocon: Following the EU GMP inspection in February 2023, the company’s active pharmaceutical ingredient (API) manufacturing facility in Bangalore received a GMP compliance certificate from the competent German authority.

IRB Infrastructure Developers: IRB Infrastructure Trust’s toll revenue rose 24% year-on-year to Rs 201.18 crore, up from Rs 162.64 crore in the previous year.

Abans Holding: The company’s subsidiary, Abans Agri Warehousing & Logistics, is executing a contract to sell its entire 100% interest in Shanghai Yilan Trading Co Ltd to Forever Trading FZC for a composite consideration of Rs 41 lakh.

All eyes will be on the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC), which will announce its interest rate decision at 10 am on Thursday. Markets expect the six-member Monetary Policy Committee to keep the policy repo rate unchanged at 6.5% for the second straight time. The SGX Nifty edged up to 18,825 at 7:45 am.

In Asia, trends were mixed, mainly following a similar handover in the US market. Japan’s Nikkei was flat to positive, South Korea’s Kospi fell 0.22%, and Australia’s ASX200 rose 0.04%.

Rate sensitives: Financial stocks, including banks, NBFCs and MFIs, and the auto and real estate sectors are likely to see considerable volatility in Thursday’s trade, as the Reserve Bank of India (RBI) is due to announce its interest rate decision today.

Adani Enterprises: Adani Group said its pace of acquisitions would slow this year due to higher global capital costs, Reuters reported, pointing to fewer deals at the conglomerate, which has grown rapidly by acquiring assets.

Tech Mahindra: Life Insurance Corporation of India (LIC) has bought an additional 1.9 crore shares, or 2% of the company’s stake, at an average price of Rs 1,050.77 per share in the last seven months. The insurer now holds an 8.84% stake in Tech Mahindra.

Zydus Lifesciences: The company has received final approval from the US Food and Drug Administration (USFDA) for tadalafil 20 mg tablets USP. Tadalafil Tablets USP, 20 mg, has annual sales in the US of $61 million (April 2023).

Titagarh Wagons: The board of directors of the company is scheduled to consider on Saturday, June 10, 2023, the mode of approval of the proposal to raise capital through an issue of stock or other securities, including a preferred offering, a qualified institutional placement, a rights issue or any other means permitted.

Hero MotoCorp: Chief executive officer (CEO) Niranjan Gupta said on Wednesday that the two-wheeler is mainly planning to launch mid- and budget-segment electric scooters in FY25.

Punjab Sind Bank: The board of directors meeting of the bank is scheduled to be held on Monday, June 12, 2023, to consider and approve the proposal to raise funds by issuing additional primary or secondary bonds, Rs 750 crore. This amount will be raised within 12 months from the date of approval.

Tata Elxsi: The company has partnered with the Indian Space Research Organization (ISRO) to support the upcoming Gaganyaan mission. Tata Elxsi designed and developed the Crew Module Recovery Model (CMRM) for space mission recovery team training through this association.

Satin CreditCare Network: The company’s board of directors intends to consider and approve the proposal to raise funds in one or more tranches through the issuance of securities on a private placement basis on June 12, 2023.

Lemon Tree Hotels: The company has signed a licensing agreement for a 60-room property in Rajamundry, Andhra Pradesh. The hotel is expected to be operational in Q3FY25.

Timex Group India: The company has reportedly experienced a cyber incident affecting the company’s data servers, resulting in operational disruption. The affected area has been quarantined, the company said. It added that the company reviewed the systems and affected servers to confirm the ability to recover data and resume normal operations.

Torrent Power: The company has issued and allotted Rs 600 crore worth of non-cumulative, redeemable and non-convertible debentures (NCDs) at a coupon rate of 8.50% per annum on a private placement basis.

Avantel: The company’s board meeting is scheduled for June 23, 2023 (Friday), and the proposal for the shareholding sub-division/split proposal was reviewed and approved.

Stove Kraft: The company’s chief financial officer, Balaji A S, resigned from the company due to personal reasons. The company hires a new CFO and CIO (Chief Information Officer).

Sula Vineyards: The company notified exchanges that it had identified a new chief financial officer, who will take over in August.

Haldyn Glass: The company has informed the exchange that one of the furnaces at a plant in Gavasad village, Vadodara, will be shut down for 90 days from June 8, 2023, for relining. This will affect production and profitability in the next quarter, it said.

Hatsun Agro Products: The company’s board of directors will hold a meeting on July 5, 2023, to consider and approve the proposal to transfer all assets and liabilities of the company’s wind power business unit to prospective buyers through “slump sale”.

Action in specific stocks could dominate the trend on Dalal Street on Wednesday as investors await the RBI’s repo rate decision tomorrow.

At 7:30 am, the SGX Nifty was at 18,707, up 28 points. Meanwhile, Asia-Pacific markets were mixed as the region focused on China’s trade data for May and speeches from Reserve Bank of Australia Governor Philip Lowe.

In Australia, the S&P/ASX 200 rose 0.14%, Japan’s Nikkei fell 1.4%, and South Korea’s Kospi rose 0.3%.

Overnight, the S&P 500 hit its highest level in ten months, rising 0.2%. Meanwhile, the Dow Jones and Nasdaq Composite surged 0.3%.

Adani stocks: The exchanges have raised the circuit limit for three of the 10 companies in the Adani Group to 10% from an earlier 5% with immediate effect. These include Adani Green Energy, Adani Wilmar and Adani Transmission.

Apart from that, other notable stocks with a 10% circuit filter include Aditya Birla Sun Life AMC, Bikaji Foods International, Clean Science and Technology, G R Infraprojects, Keystone Realtors, Mankind Pharma, Shyaam Metals and Energy and Tega Industries.

In total, 20 stocks had corrections of 2%, 463 had corrections of 5%, and 333 had corrections of 10%.

Bank of Maharashtra: The lender has closed its QIP (Qualified Institutional Placement) issue period and has approved an issue price of Rs 28.50 per share, a 4.94% discount to the established floor price of Rs 29.98 per share.

Torrent Power: It has signed a Memorandum of Understanding (MoU) with the Maharashtra state government to develop three pumped storage hydropower projects with a capacity of 5,700 MW at an investment of approximately Rs 27,000 crore. The project will be completed within 5 years.

Star Health, ICICI Lombard, New India Assurance: The latest data released by the General Insurance Board showed that the non-insurance segment rose 18.06% year-on-year to Rs 18,031.48 crore in May (excluding specialised companies, Agricultural Credit Insurance Corporation of India and ECGC).

Tata Power, Uniparts India, Seshasayee Paper, Marksans Pharma: These companies will turn ex-dividend on Wednesday.  

Bartronics India: The company’s board of directors is scheduled to meet on Friday, June 9, 2023, to consider and approve the issue of equity in the company through a preferential allotment of up to 9% of the company’s paid-up share capital.

Deepak Fertilisers and Petrochemicals: Performance Chemiserve Limited, a wholly-owned subsidiary of the company, has raised Rs 900 crore through the issue and placement of non-convertible debentures (NCDs) to qualified institutional buyers (QIBs) on a private placement basis.

Bank of Baroda: Bondholders of Reliance Home Finance Ltd (RHFL) have reportedly served legal notices to the state-owned Bank of Baroda (BoB) alleging foul play and disregarding a recent order ruling issued by the Supreme Court.

JSW Ispat Special Products: Kiran Menon has resigned as the Company’s Chief Financial Officer (CFO), effective at the close of business on June 5, 2023.

GMR Airports and Infrastructure: GMR Hyderabad International Airport Limited, a subsidiary of GMR Airports Infrastructure, has sold approximately 8,18,000 sq. ft. of warehouse facilities at Hyderabad Airport to ILP Core Ventures I PTE Limited. GHIAL signed a definitive agreement and closed the transaction with ILP Core Ventures I PTE Limited for an enterprise value of Rs 188.1 crore.

Varun Beverages: The board of directors of Varun Beverages has set June 15 as the record date for determining eligible shareholders entitled to a stock split.

NDTV: New Delhi Television Limited (NDTV) will move out of the short-term additional surveillance framework from Wednesday.

Mazagon Dock Shipbuilders: Germany and India are close to an agreement to build diesel submarines for Indian waters. The naval arm of Thyssenkrupp AG and India’s Mazagon Dock Shipbuilders Limited are likely to jointly bid for an estimated $5.2 billion project to build six submarines for the Indian Navy, Bloomberg reported.