Following a lacklustre performance by the US indexes, it is anticipated that the primary benchmark indices will begin trading on a cautious note. Even though the Federal Reserve kept interest rates constant at their meeting in June and signalled that there may be two more rate rises later this year, the United States financial markets lost a significant portion of their gains overnight.
Chair Jerome Powell has also said that he does not see any rate reductions occurring this year.
The SGX Nifty June futures were quoted at 18,820 at 7:30 in the morning.
In the meantime, the following is a list of the stocks that are anticipated to see some movement during transactions on Thursday.
IT stocks: JP Morgan has continued its bearish position on Indian information technology (IT) services and downgraded the sector to underweight. This is because the financial institution feels that the overall demand environment for the industry currently remains poor. It has put the stocks of Infosys, TCS, and MphasiS on its ‘negative catalyst watch’ list.
Axis Bank: The private equity company Bain Capital, which is located in the United States, is set to sell a 0.7% interest in Axis Bank at a price that falls somewhere between Rs 964 and Rs 977.70 per share. According to information obtained from sources and published by CNBC-TV18 on Wednesday, the value of the share sale would be $267 million.
Hero MotoCorp, a significant player in the two-wheeler industry, recently made an announcement on the debut of its new Xtreme 160R 4V in the luxury motorbike category. The pricing of the new model will begin at Rs 1.27 lakh ex-showroom.
Mahindra & Mahindra (M&M), Ashok Leyland: Investment banking sources informed Business Standard that automobile giants M&M and Ashok Leyland have entered the competition to purchase a large share of MG Motor India. MG Motor India is a wholly-owned affiliate of SAIC Motor, which is based in Shanghai. The JSW company, which is managed by Sajjan Jindal, has previously indicated that it is interested in purchasing up to 48 percent of MG Motor India.
Indian Oil: According to the head of the refiner, Indian Oil (IOC), the business has plans to establish a factory in Haryana that would produce 80,000 metric tonnes of sustainable aviation fuel in partnership with LanzaJet. According to what S. M. Vaidya stated on the sidelines of a business event in New Delhi, the firm is considering making an investment of around 2,300 crore rupees.
Real estate: Following the release of a study by CREDAI, Colliers, and Liases Foras that claimed that house prices in Delhi-NCR surged by 16 percent in the period of January–March due to improved demand and higher construction costs, shares of real estate-related businesses are expected to attract the attention of investors. According to the findings of the study, year-over-year (Y-o-Y) increases in house prices for the top eight cities totaled 8%.
DCW: The firm has told BSE that there has been an unexpected mechanical failure of the CO2 gas compressor at the soda ash plant and that this would result in a decreased output of soda ash by an estimated 6 metric tonnes in the current quarter.
Kesoram Industries, a member of the B.K. Birla group, is working on a plan with two components in order to go back to being profitable within the next 18 months. According to P. Radhakrishnan, Chief Executive Officer (CEO) of Kesoram, the two most important factors in improving the balance sheet are increasing the production of blended cement and refinancing existing debt.
Container Corporation of India (Concor): The Department of Investment and Public Asset Management (DIPAM) may seek the help of an interministerial committee and senior officials from the Finance Ministry in order to facilitate the sale of an interest in the firm. In order to meet its disinvestment goals for the current fiscal year, the government plans to sell a share in the national transporter that is worth Rs 12,000 crore.
REC: On June 24, the board of directors of the firm is gathering to discuss whether or not a proposal for a final dividend should be considered for FY23.
Dhruv Consultancy Services: The company, in addition to Cosmopolitan Consultant and Technical Education Centre and Beam Consultants, has been shortlisted as a “consultant” towards services, more specifically as a Project Implementation Support Consultant (PISC), for the pre-feasibility and feasibility study for the rural connectivity improvement project by the Government of Nepal.
Tega Industries: The firm notified BSE that on June 14, the National Firm Law Tribunal (NCLT) authorised the composite scheme of arrangement between Nihal Fiscal Services, the promoter company of Tega Industries, Marudhar Food & Credit, and MM Group Holdings, all of which are part of the promoter group business. Tega Industries is a component of the promoter group company.
Stocks in F&O Ban: BHEL, Delta Corp., Indiabulls Housing Finance, Indian Energy Exchange (IEX), India Cements, Manappuram Finance, and Zed Entertainment are the seven stocks that are under the F&O ban period on Thursday. Manappuram Finance and Zed Entertainment are also included in this list.
