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The Bulls and Bears

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Major Index Performance (27 June – 01 July)

Nifty 50: ▲+0.34% Nifty Bank: ▼0.26% Nifty IT: ▲1.03%
Nifty Auto: ▲1.11% Nifty Metal: ▲2.71% Nifty Pharma: ▲0.68%

FII & DII Activity Cash (27 June – 01 July)

FII : ▼6,836.71 Crore DII: ▲5,926.47 Crore

Financial Sector

  • The Indian Insurance Regulatory and Development Authority (IRDAI) has advised insurers from loading up on bonds issued by HDFC Group entities, stating that information regarding exposure limits must be awaited until the merger’s alleged effective date.
  • SBI, HDFC Bank, ICICI Bank acquire 9.54% stake each in Perfios Account Aggregation Services. Bank of Baroda approves capital raising up to ₹5,000 crore in FY23
  • RBI Approves Rajiv Anand’s Reappointment as Deputy MD of Axis Bank.
  • AU Small Finance Bank gets AA/Stable rating for long-term debt instruments from Crisil.

IT Sector

  • Tata Consultancy Services has been recognized as a Leader in The Forrester Wave: Robotic Process Automation Services.
  • Infosys wins Microsoft’s 2022 Modern Endpoint Management Partner of the Year award.
  • Infosys invests $10 mln in US based The House Fund.
  • Datamatics is acknowledged in the 2022 Gartner Magic Quadrant for Finance and Accounting BPO.
  • Harte Hanks Announces Agreement to Repurchase Preferred Shares from Wipro.

Metal Sector

  • Moody’s upgrades JSW Steel’s corporate family rating to Ba1 from Ba2.
  • Welspun Corp secures new orders worth Rs 600 cr

Pharma Sector

  • Cipla to further invest Rs26 crore in GoApptive to raise stake to 22%.
  • JB Pharma acquires four pediatric brands of Dr Reddy’s Labs for ₹98.3 crore.
  • Dr. Reddy’s settles patent litigation with Indivior, Aquestive Therapeutics.
  • Zydus receives final approval from USFDA for Lacosamide Injection.
  • Aurobindo Pharma received a warning from SEBI for non-disclosures related to USFDA audit.
  • Lupin gets US FDA marketing nod for generic Invega extended-release tablets
  • Glenmark Pharmaceuticals acquires certain OTC drugs from Wockhardt in US

Auto Sector

  • Maruti Suzuki India has launched new “Brezza”.
  • Maruti Suzuki India sells 1.55 lakh units in June 2022.
  • Renesas Electronics partners with Tata Motors, Tejas Network for semiconductor
    solutions.
  • Bajaj Auto board approves buyback upto Rs 2500 crore at max Rs 4600 per share via open market.
  • KKR, TPG in talks to invest $300 m in TVS’s EV business.

 

Author: Mohil Detroja

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