Sensex, Nifty stage smart recovery in fag-end; IT stocks weak, auto rally

CLOSING BELL, JUNE 6, 2023: IKIO Lighting IPO sailed through on the first day itself with 1.2 times subscription till 3:30 PM

11:22 AM

ALERT: TCS launches its data exchange & marketplace platform on Google Cloud

TCS has announced the launch of, TCS Dexam, a data marketplace platform on Google Cloud. The platform enables enterprises to democratize and monetize data across ecosystems. 

11:14 AM

HDFC Securities initiates coverage on Fusion Micro, Zen Tech, RateGain with Buy calls

Stock	LTP	Recommendations	Base Case Fair Value	Bull Case Fair Value	Time Horizon
Fusion Micro Finance Ltd.	Rs.506.3	Buy in the band of Rs.500-510 & add more on dips to Rs. 450-460 band	Rs.560	Rs.597	2-3 quarters
Zen Technologies Ltd.	Rs. 398.85	Buy in the Rs 394-403 band & add more on dips to Rs. 341-349	Rs. 441	Rs. 475	2-3 quarters
RateGain Travel Technologies Ltd.	Rs 384.1	Buy in the band of Rs 380-388 & add more on dips to Rs 338-344 band	Rs 421	Rs 451	2-3 quarters

11:03 AM

MARKET CHECK: Sensex extends weakness; slips 170 pts to day's low

10:52 AM

ALERT :: L&T Construction bags orders in the range of Rs 1,000-2,500 crore

10:47 AM

Cement shares in focus; UltraTech hits 52-week high, Ambuja surges 4%

Profitability of cement companies are likely to improve in fiscal 2024, owing to softening of coal and pet coke prices and better operational efficiency, says Crisil Ratings. READ

10:34 AM

Crypto market cracks 5%, Bitcoin at 3-month low after US SEC sues Binance

In its complaint, the SEC alleged that Binance and Zhao had "free reign" over billions of dollars of crypto assets from the US. READ

10:20 AM

Mazagaon Dock extends rally to 8th straight day; zooms 27% in two days

Going ahead, analysts at ICICI Securities perceive peak execution through to FY25E based on the current orderbook visibility. READ

10:11 AM

ALERT: Bank Nifty F&O contracts to expire on Fridays starting July 7

Change of Bank Nifty Futures and Options expiry day from existing Thursday to Friday. READ NSE CIRCULAR

10:06 AM

L&T Finance rises 1%; board to mull final dividend on June 8

The board meeting will be held on June 8 to consider the final dividend for the financial year 2022-23.

10:01 AM

MTAR Tech gains 2% as Plutus Wealth buys 4% stake in company

Ahmedabad-based Plutus Wealth Management LLP has bought 13.15 lakh shares or 4.27% stake in the precision engineering company via open market transactions at an average price of Rs 1,880.02 per share, which amounted to Rs 247.22 crore.

However, three promoters Usha Reddy Chigarapalli, Anitha Reddy Dwaram, and Kavitha Reddy Gangapatnam sold 11.2 lakh shares or 3.64% stake in the company.

 

9:59 AM

Nelco rallies 9% on plan to buy 9% stake in Piscis Networks

The Company has entered into the agreement(s) with the promoters and other shareholders of Piscis Networks Private Limited for an initial investment of Rs 99.99 lakh, to purchase 9.09 per cent of the paid-up capital of Piscis Networks. The company will also make further investment to increase its shareholding up to alteast 30 per cent of the paid-up capital of Piscis Networks.

 

9:56 AM

BL Kashyap surges 6% on bagging orders worth Rs 147 crore

9:44 AM

7 Adani stocks gain as group fully prepays $2.15 bn of loans

In a Credit Note released on Monday, Adani Group said it has made a full prepayment of $2.15 billion of loans that were taken by pledging shares in the conglomerate's listed firms and also another $700 million in loans taken for the acquisition of Ambuja Cement.

 

9:40 AM

JK Cement rises 3% on plan to acquire Toshali Cements for Rs 157 crore

The company has received board approval to sign and execute a Share Purchase Agreement with Toshali Cements for acquisition of 100% shareholding in Toshali, from all the existing shareholders. After investment of Rs 157 crore, Toshali will become a subsidiary of JK Cement, and the acquisition will help the company expand its footprint into the eastern region.

9:36 AM

Tepid gains across sectors; IT index dips 1%

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