BUSINESS
Sensex down 300 points; finance, auto stocks lead selloff
The key Indian equity indices declined on Monday morning tracking mixed cues from the Asian market along with profit booking by traders after the indices scaled new highs last week. The across-the-board selloff was led by auto, finance and banking stocks. Around 9.45 a.m., Sensex was trading at 52,166.60, lower by 308.16 points or 0.59 per cent from its previous close of 52,474.76.
Ruchi Soya plans FPO to raise funds, meet SEBI norms
The move would also allow the company to meet SEBI's minimum public shareholding norms. In a regulatory filing on Sunday, Ruchi Soya said that the Issue Committee, constituted by the board, on June 12 approved the raising of funds and also approved the draft red herring prospectus to be filed with the capital market regulator.
Reliance Power board approves preferential issue of shares, warrants to Reliance Infra
The Board of Directors of Reliance Infrastructure Limited (Reliance Infra) at its meeting on Sunday approved the subscription of the preferential issue. This will reduce Reliance Power standalone debt by Rs 1 ,325 crore and along with planned debt reduction in subsidiaries, Reliance Power consolidated debt will reduce by Rs 3,200 crore in FY22.
Exim Bank sees India's Q1 merchandise exports at $87.2bn
It would be around 70 per cent higher than $51.3 billion during the same quarter last fiscal, Exim Bank said in a statement. Non-oil exports are likely to grow over 68 per cent on a year-on-year basis to $78.26 billion, compared to $46.4 billion during April-June, FY21.
BSESENSEX lifetime high achieved, market trend unclear
BSESENSEX finally managed to hit a lifetime high and did so on Friday touching 52,641.53 points. This crossed the previous high made on February 16 of 52,516.76 points. Incidentally NIFTY had made a lifetime high on May 28 and it took a fortnight for the BSESENSEX to achieve the same, something which has not happened in a very long time.
Retail investors can look forward to big IPOs raising Rs 1.12 lakh cr
According to market estimates, among the upcoming issues, insurance major, LIC is likely to launch a Rs 70,000-90,000 crore issue. The IPO list is dominated by financial services sector. Food delivery chain, Zomato will launch a Rs 8,250 crore IPO while private sector airline, Go First will launch a Rs 3,600 crore primary market issue.
FPIs invest Rs 15,520 cr in Indian equities in June
FPIs have made a comeback after pulling out investments for two consecutive months. In April and May, net selling by FPIs stood at Rs 9,659 crore and Rs 2,954 crore. The return of the foreign funds comes amid declining number of daily Covid-19 cases and robust Q4 earnings.
US-based Molekule plans investment for R&D in India
As the company enters India, Dilip Goswami, Co-founder, President and CTO of Molekule, said that its research team has entered into partnerships with India's top research institutes. On the question of R&D investment into, Goswami said: "Absolutely. Molekule is first and foremost a science company bringing scientific innovation out of academic research to solve the challenges of air pollution. Our team conducts extensive research and rigorous testing."
Dell leads as global server market revenue grows 12% in Q1
"The considerable increase of server investments during the quarter was also buoyed by global economic tailwinds along with increased investments targeting the modernisation of business applications, data center infrastructure, and IT operations," said Paul Maguranis, senior research analyst, Infrastructure Platforms and Technologies at IDC.
New Covid wave in Asia to worsen global chip shortage: Report
The global semiconductor shortage will persist through 2021 and is expected to recover to normal levels by the second quarter of 2022, a Gartner report said last month. Across most categories, device shortages are expected to be pushed out untill the second quarter of 2022, while substrate capacity constraints could potentially extend to fourth quarter of 2022.
Don't Miss
Advertisement