Stocks To Watch: Tata Motors, Jindal Stainless, HAL

Jindal Stainless Ltd. on Tuesday said it has completed the acquisition of Evergreat International Investment Pte., Singapore.

The US bond market climbed as further signals of labour-market cooling reinforced speculation the Federal Reserve will be able to cut interest rates this year, Bloomberg said.

Following a tighter-than-anticipated contest for the Bharatiya Janata Party government, stocks in the PSU, defence, infrastructure, and railway sectors are expected to remain in the spotlight on Wednesday.

Tata Motors Finance Ltd. will merge with Tata Capital Ltd., according to a statement on Tuesday. The board of both the companies and Tata Motors Ltd. approved the merger through a National Company Law Tribunal scheme of arrangement.

Stocks in the Asia-Pacific region traded mixed following higher closure of Wall Street counterparts on renewed expectations of rate cuts by the Federal Reserve due to a cooling US labour market.

The bond market gained ground as indications of a cooling labour market fuelled speculation that the Federal Reserve might implement rate cuts this year, as reported by Bloomberg. US 10-year yields continued a four-day decline, reaching almost 30 basis points.

The S&P 500 saw a 0.15% rise, and the Nasdaq Composite advanced by 0.17% as of Monday. The Dow Jones Industrial Average also climbed by 0.36%.

Brent crude traded 0.12% lower at $77.43 a barrel. Gold edged up by 0.15% to $2,330.48 an ounce.

The June futures contract of the GIFT Nifty index traded 0.27% or 59.5 points lower at 22,041.

Indian equity gauges tumbled to log their worst session in over four years, as poll trends indicated a closer-than-expected fight for the incumbent Prime Minister Narendra Modi government. But, consumer goods stocks bucked the selloff to emerge as the only winners on Tuesday.

The NSE Nifty 50 closed 1,379.4 points, or 5.93%, lower at 21,884.5, while the S&P BSE Sensex ended down 4,389.7 points, or 5.74%, at 72,079.

Overseas investors turned net sellers on Tuesday after staying buyers for two consecutive sessions. Foreign portfolio investors sold stocks worth Rs 12,436.22 crore—the highest this year. Domestic institutional investors turned net sellers after staying buyers for 10 straight sessions and sold equities worth Rs 3,318.98 crore, according to provisional data from the National Stock Exchange.

The Indian currency closed 38 paise lower against the US dollar at Rs 83.53.

• Hindalco Industries: Hindalco Industries Ltd.'s US subsidiary Novelis announced early on Wednesday its decision to postpone its $945 million initial public offering due to 'market conditions'.

• Wipro: The company has partnered with Zscaler to introduce Wipro Cyber X-Ray, an AI-assisted decision support platform.

• Hindustan Aeronautics: Sukhoi 30 MKI Aircraft crashed today while on test sortie from the company's Nashik Division. Both pilots were ejected safely, technical snag was reported by pilots.

• Tata Motors: The company incorporated a wholly owned unit TML Commercial Vehicles as part of the proposed demerger.

• NLC India: The company to consider raising a foreign currency loan of up to $600 million on June 10.

• Shilpa Medicare: The company's wholly owned subsidiary filed its first Drug Master File of recombinant Human Albumin 20% with USFDA.

• Jindal Stainless: The company acquired a 100% stake in Evergreat International Investment.

• Container Corp: The company signed a MoU with Shipping Corp to provide end-to-end logistics solutions.

• Kronox Lab Sciences: The public issue was subscribed to 24.58 times on day 2. The bids were led institutional investors (3.39 times), non-institutional investors (52.93 times), retail investors (24.53 times).

• Hinduja Global Solutions: Aasia Exports sold 11.6 lakh shares (2.49%), Hinduja Group Limited bought 11.6 lakh shares (2.49%) at Rs 804 apiece.

• Multi Commodity Exchange: WF Asian Smaller Companies Fund Limited bought 4.97 lakh shares (0.97%) at Rs 3212.43 apiece.

• NCC: Small Cap World Fund Inc sold 54.02 lakh shares (0.86%) at Rs 265.13 apiece.

• Marksans Pharma: Promoter Sandra Saldanha bought 47,000 shares on June 3.

• Manappuram Finance: Promoter Nandakumar V P bought 2 lakh shares on June 3.

• Krishna Institute of Medical Science: Promoter Bhaskara Rao Bollineni created a pledge for 2.21 lakh shares on May 31.

• Ex/record dividend: Reliance Industrial Infrastructure, Manappuram Finance.

• Ex/record buyback: Sharda Motor Industries.

• Moved into short term Framework: Adani Power.

• Moved out of short-term Framework: Jana Small Finance Bank.

• Apar Industries: To meet analyst and Investors on June 11.

• Dr.Reddy's Laboratories: To meet analyst and Investors on June 10.

• Mahanagar Gas: To meet analyst and Investors on June 7.

• Home First Finance: To meet analyst and Investors on June 8.

• Natco Pharma: To meet analyst and Investors on June 10.

• Entero Healthcare Solutions: To meet analyst and Investors on June 7.

• Biocon: To meet analyst and Investors on June 5.

• Nifty June futures down by 6.12% to 21,908.15 at a premium of 23.65 points.

• Nifty June futures open interest up by 1.17%.

• Nifty Bank June futures down by 7.8% to 47,088.55 at a premium of 159.95 points.

• Nifty Bank June futures open interest up by 8.65%.

• Nifty Options June 6 Expiry: Maximum Call open interest at 24,700 and Maximum Put open interest at 20,200.

• Bank Nifty Options June 5 Expiry: Maximum Call Open Interest at 57,000 and Maximum Put open interest at 40,000.

• Securities in ban period: Zee Entertainment Enterprises Pending

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