Following Wall Street’s wins from the night before, the stock markets are expected to start out on a slightly upbeat note. The US markets went up after CPI inflation was lower than expected. This made people think that the US Fed might stop raising rates tonight.
The SGX Nifty June futures were quoted at 18,825 at 7:30 a.m.
While that is going on, here are the stocks that are expected to move on Wednesday.
People who know about the situation say that the Adani Group, which is run by Gautam Adani, is in talks with lenders, including global banks, to refinance up to $3.8 billion of a loan facility it took out last year to buy Ambuja Cements.
Power stocks: The National Committee on Transmission (NCT) has given the go-ahead for six power transmission projects worth a record Rs 64,000 crore to connect green energy plants. The jobs are expected to be given to the best bidders this year.
SBI Life: The Security Appellate Tribunal (SAT) has stopped Irdai from transferring Sahara India Life Insurance’s policy responsibilities to SBI Life. Irdai told SBI Life Insurance on June 2 to take over the policy responsibilities of about 200,000 Sahara Life plans because Sahara Life didn’t follow the rules.
The US Food and Drug Administration (USFDA) has given Zydus Lifesciences permission to sell Varenicline pills and Diclofenac sodium/Misoprostol delayed release pills in the US. These medicines are used to treat addiction to smoking and osteoarthritis, respectively.
Top lawyers say that Sony Corporation, which is combining its Indian TV content company with Zed Entertainment Enterprises (ZEEL), is likely to ask for a new forensic audit of the company after Sebi charged Zed founders with diverting funds.
Meanwhile, on Tuesday, the chairman of Essel Group, Subhash Chandra, and the managing director and CEO of ZEEL, Punit Goenka, went to the tribunal to ask for a stay of the interim order that said they couldn’t take key roles in public companies.
KEC International: The RPG Group Company has gotten new orders for its different businesses that add up to Rs 1,373 crore.
Anupam Rasayan: The company has signed a Letter of Intent with a leading Japanese specialty chemical company for $265 million (about Rs 2,186 crore).
RIL, or Reliance Industries: A study by Sanford C. Bernstein said that the company could make between $10 and $15 billion from its new energy business by 2030. However, it will need to make deals or form partnerships to make up for its lack of experience in technology.
Maruti Suzuki, a big name in four-wheeled cars, will release a new MPV called Invicto next month. Shashank Srivastava, the company’s executive head of sales, said on Tuesday that it will be the first private car with a price tag of Rs 20 lakh or more.
HFCL: The Delhi Metro Rail Corporation (DMRC) gave the company that makes phones an order worth Rs 80.92 crore.
Brand Concepts: The company’s board is going to meet on June 16 to talk about a plan to raise money by giving out preferred shares of stock.
The six stocks in the F&O ban on Wednesday are BHEL, Delta Corp., Indiabulls Housing Finance, Indian Energy Exchange (IEX), India Cements, and Manappuram Finance.
