Major Index Performance (20 June – 24 June)
|Nifty 50: ▲0.65%||Nifty Bank: ▲2.70%||Nifty IT: ▲3.91%|
|Nifty Auto: ▲6.95%||Nifty Metal: ▼2.71%||Nifty Pharma: ▲3.17%|
FII & DII Activity Cash (20 June – 24 June)
|FII : ▼11,513.77 Crore||DII: ▲11,670.62 Crore|
- Moody’s Investors Service has upgraded the baseline credit assessments of ICICI Bank and Axis Bank, reflecting the improvements in credit fundamentals, particularly asset quality. The global rating agency has upgraded the baseline credit assessments (BCAs) to baa3 from ba1.
- HDFC Bank said that it will soon move out their payments platform out of its core banking module to enable minimal payments downtime, even if core banking is not available. The bank is also expected to launch additional products and services under Digital 2.0 including a new payment platform for its customers and merchants.
- AU Small Finance Bank expects to invest over Rs. 500-700 crore to scale up its digital banking and information technology over the next three-five years, taking the total tech spending to over Rs. 1,000 crore.
- Canara Bank board approves Rs. 9000 crore capital raising plan.
- TCS bags deal from Aadhar Housing Finance to improve business operations.
- HCL Technologies opens its new delivery center in Vancouver.
- Morgan Stanley Investment Funds offloads Rs. 105 crore shares of Happiest Minds.
- Vedanta Ltd. invites EoI to sell Sterlite Copper plant in Thoothukudi.
- Slowdown concerns drag Metal Shares this week.
- Biocon arm denies bribery charges, says cos follows code of conduct.
- Zydus Lifesciences’ Rs. 750 crore share buyback open between June 23 – July 6.
- Dr Reddy’s Laboratories planning mergers and acquisitions to climb up the ladder.
- Hero XPulse 200 4V with updated headlight design launched in Turkey.
- Hero MotoCorp to raise two-wheelers’ prices by up to ₹3,000 from 1 July.
- Toyota & Suzuki to start production of a midsize SUV in India from August, Maruti Suzuki and Toyota Kirloskar Motors will market the product in India and will export it too.
- Government orders probe into Tata Nexon EV fire incident in Mumbai.
- Mahindra Scorpio N and Scorpio Classic Variants Revealed, The variant list for the Mahindra Scorpio N and the Scorpio Classic has been revealed. The engine details of the Scorpio Classic are also out. Test drives for the Scorpio N will begin the same day as its launch.
- Mahindra XUV700 awarded “Safer Choice” title by Global NCAP.
Author: Mohil Detroja