Stock Market Highlights, June 20: Mid, SmallCap indices outshine benchmarks; metal, pvt banks gain

Stock market Highlights on Thursday, June 20, 2024: Among sectors, the Nifty Metal index edged 1,8 per cent higher, the Nifty Realty 2 per cent, and the Nifty Private Bank 1.16 per cent

9:10 AM

Pre-open: Nifty above 23,550

9:09 AM

Pre-open: Sensex surges over 200 pts

9:06 AM

Currency check :: Rupee opens at 83.43/$ Vs Wednesday's close of 83.46/$

8:57 AM

Sebi orders Religare Enterprises to apply for open offer before July 12

The Burman group acquired an additional 5.7 per cent stake in REL in September last year triggering the open offer requirement as their stake surpassed the 26 per cent threshold. However, REL wrote to Sebi stating that the acquirers were not ‘fit and proper’ and thus the board did not apply for open offer. READ MORE

8:53 AM

ALERT :: 2 SME IPOs to open today

1) Winny Immigration IPO
Price: Rs 140 per share.
IPO size: Rs 9.13 crore
Type: Fresh issue of 6.52 lakh equity shares

2)  EnNutrica IPO
Price band: Rs 51 - Rs 54 per equity share
IPO size: Rs 34.83 crore. 

8:48 AM

AIF investments top Rs 4 trillion, commitments cross Rs 11 trillion

Domestic investors dominated AIF investments, raising over Rs 2.83 trillion by March 2024. Foreign portfolio investors followed with Rs 18,400 crore, closely trailed by non-resident Indians at Rs 15,100 crore. This marks the first time that the market regulator has disclosed granular details of the funds raised and sector allocations. READ MORE

8:44 AM

India set for $2 bn bond inflows around JP Morgan index inclusion day

India Bond index inclusion: India is likely to witness an inflow of more than $200 billion in assets when it gets included in the JPMorgan Emerging Market Index on June 28. India will have a weight of 10% by March 2025. READ MORE

8:40 AM

Retail investors share in equity AUM pie shrinks for third straight year

The share of retail AUM in equity schemes, which stood at 55 per cent at the end of the financial year 2020-21 (FY21), has come down to 52.8 per cent in FY24, according to data from the Association of Mutual Funds in India (Amfi). The AUM in absolute terms has surged from Rs 5.5 trillion to Rs 12.4 trillion. READ MORE

8:36 AM

ALERT :: Gokaldas Exports announces partnership with BRFL Textiles

>> Gokaldas Exports (GEX) has agreed to invest in BRFL Textiles Private Limited (BTPL) by subscribing through Optionally Convertible Debentures (OCD).

>> In its first tranche, GEX will subscribe for Rs 50 crore, with the remaining OCDs worth up to Rs 300 crore to be subscribed subsequently in multiple tranches, depending on the funding requirements.

>> These funds shall be utilized mainly to meet the working capital needs, with a smaller portion towards the capex requirements.

>> A possible merger or acquisition will be explored by June 30, 2025. 

8:33 AM

ALERT :: Nazara Tech-arm Sportskeeda Inc completes acquisition of all IPRs of Soap Central

>> Basis the intimation received from Absolute, the parent firm of Sportskeeda Inc, the latter has completed the acquisition of all the Intellectual Property Rights, including but not limited to domain rights, trademarks, content, website, software codes, etc., of 'Soap Central' (IP Assets)

>> This wad done upon payment of the aggregate consideration of $1,400,000/- (equivalent to approximately Rs 11.67 crore) in cash.

8:29 AM

ALERT :: Tanfac Industries signs Framework agreement with a Japanese firm

>>  Tanfac Industries has signed Framework agreement worth revenue of $81 million (Rs 675 crore) over the next 5 years with one of the leading Japanese Specialty Chemical companies to supply a refrigerant gas.

>> The supply for this product will start from H2 FY2025-26.
 

 

8:25 AM

Officer's Choice maker Allied Blenders to float Rs 1,500 cr IPO on Jun 25

The initial share-sale comprises fresh issuance of equity shares worth Rs 1,000 crore and an Offer-for-Sale (OFS) of shares to the tune of Rs 500 crore by promoters.
 

As a part of the OFS, Bina Kishore Chhabria, Resham Chhabria Jeetendra Hemdev and Neesha Kishore Chhabria will sell shares. READ MORE

8:22 AM

Stocks to Watch, June 20: Tata Motors, Sun Pharma, PNB Housing, Brigade Ent

Brigade Enterprises: Brigade Enterprises secures Rs 150 crore agreement to develop the third tower at World Trade Center (WTC) in Infopark, Kochi.
 

MAS Financial: The company has launched Rs 400 crore QIP, with an option for an additional Rs 100 crore. READ MORE

8:18 AM

RIL, Blue Dart, India Oil, Vi among six stocks to track on June 20

Blue Dart: Logistics giant launches drone delivery service in partnership with Skye Air.
 

Indian Oil: The oil company formed a joint venture (JV) with GPS Renewables for sustainable energy solutions. READ MORE

8:14 AM

Stocks to buy on June 20: IDFC Bank, RBL, IGL; check target prices

IDFC First Bank | LTP: Rs 82.17 | Buy |Target: Rs 86.50 | Stop-loss: Rs 80

Banking stocks are witnessing decent traction and IDFC First Bank has witnessed a fresh breakout. It had been trading in a corrective phase for over 8 months while trading in a descending channel pattern and finally witnessed a breakout from the same with strong volumes. READ MORE