- Kotak Mahindra Bank launches Rs 7100 Crores QIP, considering 5% discount to market price. (Qualified institutional placement (QIP) is a capital-raising tool, whereby a listed company can issue equity shares, fully and partly convertible debentures, or any securities other than warrants which are convertible to equity shares to a qualified institutional buyer (QIB).)
- Mukesh Ambani is planning an overseas IPO for Jio Platforms Ltd
- Torrent Pharmaceuticals has reported a good Q4 result with a consolidated net profit of Rs 314 crore.
- Vedanta seeks shareholders’ approval for delisting. E-Voting until June 24
- Infosys has made a strategic partnership with Swiss-based Avaloq, a Wealth Management Software Provider
- Tata Motors to raise Rs 1000 crores through Non-Convertible Debentures (NCB) (Non–convertible debentures(NCDs) are a financial instrument that is used by companies to raise long-term capital. NCDs are a debt instrument with a fixed tenure and people who invest in these receive regular interest at a certain rate)
- India staring at worst recession since Independence: Crisil
What to expect today?
- Global cues are positive. SGX NIFTY is also trading higher, all indicating a positive opening for NIFTY today
- NIFTY likely to trade within 9000 and 9200. Crossing 9200 can give a good breakout. Expecting to see that some time this week.
- BANK NIFTY and Bank Stocks in particular are hugely over-sold. The RBI announcement on Friday worsened the situation. Still, a short covering is expected very soon