June 14, 2024
Stock Market

Stock Market Live Updates June 4, 2024: Sensex, Nifty down nearly 3% in early trade

Sectors: The public sector enterprises, financials, infrastructure, railway, and defense will be in focus with the Lok Sabha election results to be announced on Tuesday. 

ICICI Bank, Adani Group: The bank and Adani One launched co-branded credit cards with airport-linked benefits. The credit cards are to be rolled out in collaboration with Visa. 

Adani Power: The company plans to amalgamate its subsidiary, Mahan Energen, with Stratatech Mineral Resources to enhance fuel security and competitiveness in the power market.

Mahindra and Mahindra: The company reported overall disbursements at Rs 4,430 crore in the month of May, up 7% YoY and business assets at Rs 1.05 lakh crore, up 23% YoY, and collection efficiency stood at 96%. 

RVNL: The company received an EPC order worth Rs 440 crore from South Central Railway.

Moil: The company reported manganese ore sales up 41% YoY at 2.15 lakh tonnes. 

Zee Entertainment Enterprises: The company board meeting is scheduled for June 6 to consider raising funds by way of the issuance of equity shares. 

Biocon: The company received a USFDA nod for the antifungal medication Micafungin. Micafungin is used as an antifungal medication to treat fungal or yeast infections. 

Wipro: The company appointed Bruno Schenk as Country Head and Managing Director for Switzerland. 

Dr. Reddy’s Laboratories: The company’s arm, Aurigene Pharmaceutical, opens a biologics facility in Hyderabad. 

Century Textiles: The company arm incorporated a wholly owned subsidiary, Vibhavya Properties for real estate projects. 

Techno Electric: The company has acquired NERES XVI Power Transmission from REC Power Development and Consultancy for Rs 7.15 crore. 

Cupid: The company announced the commencement of its Rapid In Vitro Diagnostic (IVD) kits distribution network. The company is targeting a nationwide presence by the end of the fiscal year. 

Kalyan Jewellers: The company acquired a 15% stake in Enovate Lifestyles for Rs 42 crore. 

Seamec: The company has informed us that the deployment of the vessel “SEAMEC SWORDFISH” with Zamil Offshore Services, Saudi Arabia, is extended for a further period of 30 days from May 25. 

Sapphire Foods: The board meeting is scheduled for June 19 to consider and approve the stock split of equity shares of the company.

IPO Offering

Kronox Lab Sciences: The public issue was subscribed to 11.07 times on day 1. The bids were led institutional investors (1.11 times), non-institutional investors (19.94 times), and retail investors (12.95 times). 

Block Deal

Tinna Rubber and Infrastructure: PGA Securities bought 0.9 lakh shares (0.52%), while Bhupinder Sekhri & Sons HUF sold 0.9 lakh shares (0.52%) at Rs 1,270 apiece. 

Bulk Deals

Bajaj Electricals: HDFC Mutual Fund bought 7.3 lakh shares (0.63%) at Rs 930 apiece, while Norges Bank on Account of The Government Pension Fund Global sold 7.35 lakh shares (0.63%) at Rs 929.97 apiece. 

Fiem Industries: Aanchal Jain sold 5 lakh shares (3.79%) at Rs 1170.3 apiece, Rahul Jain sold 5 lakh shares (3.79%) at Rs 1170.61 apiece, and Setu Securities Pvt Ltd bought 2.25 lakh shares (1.71%) at Rs 1174.58 apiece.

Insider Trades

Som Distilleries & Breweries: Promoter Jagdish Kumar Arora bought 20,000 shares on June 3. 

Ajanta Pharma: Promoter Aayush M Agrawal, Trustee Aayush Agrawal Trust created a pledge of 37.87 lakh shares between May 29 and 31. 

Trading Tweaks

Price Band Change from 20% to 10%: Cochin Shipyard, Techno Electric and Engineering company. 

Ex/record dividend: ITC.



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