Equity standard indices are off to a slow start on Monday because investors around the world are still being careful after the Wagner Group’s armed coup against President Vladimir Putin in Russia was stopped.
The SGX Nifty was mostly flat at 7:30 a.m., when it was quoted at 18,720 levels.
This morning, the markets in Asia and the Pacific were mixed. The Nikkei, Hang Seng, and Strait Times all went up by up to 0.7%, while the S&P/ASX 200, Shanghai Composite, and Shenzhen Component all went down by 0.2% to 0.7%.
On Friday, the Dow was down 0.65%, the S&P 500 was down 0.77%, and the Nasdaq was down 1.1%.
Brent oil went up by 0.4% to $74 per barrel as fears of political unrest grew after the Russian civil war was stopped.
A media story says that the Hinduja Group is talking about investing Rs 10,000 crore to increase its share of IndusInd Bank. The Economic Times said that Hinduja Group is expected to raise its share from 17% to 26%. Most likely, the deal will be done in the second half of FY24.
HDFC Life: The inquiry arm of the Central Board of Indirect Tax and Customs (CBIC) has given HDFC Life Insurance Company a show cause-cum-demand notice for Rs 942,18 crore. This letter is about charges of using the input tax credit incorrectly without providing the services that the credit was supposed to be for.
ICICI Securities: On Thursday, June 29, ICICI Bank’s board of directors will meet to talk about a plan to take ICICI Securities’ equity shares off the stock market.
Ipca Laboratories: The US Food and Drug Administration (US FDA) has given the company’s Pithampur products production plant in Madhya Pradesh a Form 483 with 8 notes. The plant was checked by the USFDA from June 15 to June 23, 2023.
Infosys: The company said it was helping with a review into “tainted contracts” by the Australian government. The big software company has also allegedly cut links with marketing firm Synergy 360, which was paid $16 million over five years to help Infosys grow its business in Australia. Last year, there were reports that former MP Stuart Robert had helped the marketing company and its client get government contracts. This led to a probe.
Aurobindo Pharma: The European Medicines Agency’s (EMA) committee for medical products for human use (CHMP) has agreed to the company’s arm CuraTeQBiologics’ request to pull the EU marketing authorization application for ZEFYLTI and DYRUPEG.
Asian Paints: The company that makes paint bought an extra 11% share in Obgenix Software (also known as “White Teak”) from its founders for Rs 54 crore. The company now owns 60% of White Teak, which is up from 49% before.
Axis Bank: The Reserve Bank of India gave Axis Bank a fine of Rs 30 lakh because it broke credit card rules.
Maharashtra Metro Rail Corporation has given the project of designing and building an elevated metro bridge to Rail Vikas Nigam. The company’s price was the lowest, so they got the job. The project is scheduled to be finished in 30 months and will cost Rs 394.9 crore.
Yes Bank’s board has agreed to borrow or raise up to Rs 2,500 crore in Indian or foreign cash by selling debt securities like non-convertible debentures and bonds, among other things.
Zydus Life: For Rs 106 crore, the company’s arm, Zydus Animal Health And Investments, will buy a 6.5% share in Mylab.
The Aditya Birla Group company Grasim Industries said that the Finance Committee of the Board of Directors has approved the private sale of non-convertible debentures for up to Rs 2,000 crore in one or more tranches.
Avantel: The board of directors has approved a stock split that will turn a single share into five shares with a face value of Rs. 2 each. This will happen if the owners of the company agree.
The company will give Bangalore Metro Rail Corporation Limited Rs 3,045 crore in money for Phase 2 of the metro.
Godrej Properties: The company has bought outright about 15 acres of land in Gurugram, Haryana, in order to build high-end private flats.
Jammu & Kashmir Bank: The Reserve Bank of India (RBI) has fined the bank Rs 2.50 crore for not following certain orders about making a single store for big risks that many banks share.
AU Small Finance Bank: The board will meet on June 29, 2023, to discuss raising money by selling stock shares through private placement, qualified institution placement (QIP), special selection, a mix of these, or any other method.
