Stocks to Watch: Nifty futures traded 101 points, or 0.61%, lower at 16,471 on the Singapore Exchange, indicating that Dalal Street would open in the red on Tuesday. As caution gripped Wall Street, bulls were unable to shake off the Monday blues as domestic benchmark indices ended the session in the red. At 55,675.32, the 30-share Sensex index settled 93 points lower. Nifty50, its broader competitor, fell to 16,570 levels.
According to two people familiar with the situation, billionaire Gautam Adani and Apollo Hospitals Enterprise Ltd, the country’s largest hospital operator, are evaluating bids to acquire a majority stake in diagnostic chain Metropolis Healthcare Ltd.
Monday, West Bengal Industry Minister Partha Chatterjee announced that the state government has approved Adani Enterprises’ plans to establish a hyper-scale data center at Bengal Silicon Valley in the New Town neighborhood on the city’s outskirts.
Tata Consultancy Services (TCS), the leading exporter of software services from India, anticipates a decline in staff turnover and an increase in demand for its services as companies continue their pandemic-driven digitisation processes, according to a company executive.
NMDC, the country’s largest iron ore miner, has reduced the price of lump ore by Rs 1,100 per tonne and fines by Rs 1,000 per tonne. The prices will go into effect on June 5, 2022, the largest seller of the mineral stated in a regulatory filing on Monday.
The SBI Card
Monday, SBI Card and Payment Services announced that its board has approved the issuance of Non-Convertible Debentures (NCDs) totaling Rs 2,500 crore.
Fintech company Infibeam Avenues Ltd announced on Monday that it is expanding its presence in Australia by establishing wholly-owned subsidiary Infibeam Avenues Australia Pty Ltd to capitalize on the burgeoning digital payment market in Australia.
Promoter entity World Crest Advisors LLP sold a 0.51 percent stake in the company through open market transactions.
The Reserve Bank of India (RBI) announced on Monday that non-banking financial companies (NBFCs) in the upper regulatory layer must set aside between 0.25 and 2 percent of a regularly repaid loan as provisions.
During the June quarter, the peak construction season preceding the monsoon, demand for cement increased, which was good news for manufacturers struggling with high input costs.
Shriram City Union Finance
Shriram Value Services and other promoters acquired a 2.03% stake in the company through transactions on the open market.