The main Sensex and Nifty markets are hoping to get off to a slightly upbeat start. At 7:30 a.m., the SGX Nifty was up about 30 points at 18,734.
Overnight, tech stocks dragged down US markets around the world. The Dow Jones was unchanged at the end of the day, while the S&P 500 fell 0.4% and the NASDAQ Composite fell 1.1%.
But markets in Asia and the Pacific moved in a mixed way early on Tuesday. The Nikkei 225, Topix, and Kospi all went down by up to 0.4%. Australia’s S&P 200 went against the trend and gained 0.2%.
In the meantime, here are some stocks to keep an eye on today:
Vodafone Idea: At a recent meeting with Aditya Birla Group Chairman Kumar Mangalam Birla, top officials of the DoT were told that Vodafone Idea Ltd. (VIL) was in advanced talks with three to four private equity funds to raise about Rs 20,000 crore.
Lupin: According to news sources, Lupin is thinking about reorganising its business by splitting off its API (active pharmaceutical ingredients) business. This would make the company more valuable.
ICICI Prudential Life Insurance: The company said that tax officials have sent them a GST demand letter for Rs 492,06 crore. The problem is one that affects the whole industry, and it has to do with input tax credits. The company thinks it has used qualified input GST credits in accordance with the rules.
Tech Mahindra: The company’s unit LCC France has accepted a plan to sell its 49% stake in SARL Djazatech and its subsidiary EURL LCCUK Algerie. Tech Mahindra said that there was no addition to the company’s total revenue or net worth for the year that ended on March 31, 2023.
Airtel Business Chief Executive Officer Ajay Chitkara has left his job at Bharti Airtel. He’ll keep working there until the third week of August. Airtel Business will have three business and channel parts. Vani Venkatesh will be in charge of the Global business, Ganesh Lakshminarayanan will be in charge of the Domestic business, and Ashish Arora will be in charge of the Nxtra Data Centres.
Aditya Birla Capital: The company has set the floor price for its Q!B offer at Rs 175.99 per share. At a meeting of shareholders on June 24, Aditya Birla Capital got permission to issue up to Rs 1,250 crore worth of preferred shares.
TCS: Tata Consultancy Services (TCS) Ltd. has chosen a new head to handle the hiring of contract workers as an internal investigation into the bribes-for-jobs affair continues. Reports say that Sivakumar Viswanathan, who has worked for the company for about 30 years, is now in charge of the Resource Management Group, or RMG. RMG is in charge of hiring contract workers and putting people on jobs within the company.
Federal Bank: The bank has chosen Independent Director A.P. Hota to be the part-time head from June 29, 2023, to January 14, 2026.
Axiscades Technologies: The company has finished re-financing the Rs 210 crore in debt it drew to buy Mistral Solutions. The interest cost for the company will go down by more than 400 basis points per year because of the refinancing.
JSW Steel, JSW Vallabh Tinplate, Vardhman Industries, and JSW Steel Coated Products filed this order with the Registrar of Companies after the NCLT approved the plan of merger. The said plan is now in place as of June 26. So, JSW Vallabh Tinplate and Vardhman Industries have merged with JSW Steel Coated Products, which is a part of JSW Steel, and have stopped existing as of the effective date.
The outsourcing service provider BLS International Services said that the board members of its company, BLS E-Services, have agreed to raise money through an IPO. The planned IPO’s size, price, and other information will be decided at the right time.
City Union Bank: The board of directors has given the company permission to raise another Rs 500 crore through a qualified institutional placement (QIP).
Hardwyn India: On June 29, 2023, the board will meet to talk about and accept the plan to merge with FIBA Hardwyn Locks Limited.
