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Market Updates

The Markets are expected to open marginally lower today as trend in SGX nifty indicate a negative start for the broader index after Nifty closed 46 points lower at 18,487 on thursday.

Tata Motors: The company reported a 2% decline year-on-year in domestic sales performance at 73,448 units during May. Domestic passenger vehicle sales grew 6% on year, while commercial vehicle sales dipped 12% year-on-year.

Hero Motocorp: The company reported a 7% rise year-on-year in sales during May at over 5.19 lakh units.

Aditya Birla Capital: The company will raise Rs 1,250 crore via preference issue 6.06 crore shares to Grasim Industries and and 1.51 crore shares to Surya Kiran Investment, respectively, at Rs 165.1 apiece.

Coal India: The government will exercise the greenshoe option in the offer for sale and offload another 9.24 crore shares on the second day after the issue was subscribed 3.46 times on the first day.

SJVN: The company signed a project development agreement of 669 MW Lower Arun Hydro Electric Project in Nepal. The company is also developing 217 km long associated transmission network for power evacuation and export to India.

NTPC: NTPC Green Energy, a wholly owned subsidiary of the company, signed a deal with Uttar Pradesh Rajya Vidyut Utpadan Nigam to develop renewable energy parks and projects in the state.

Paras Defence & Space Technologies: The company and Israel-based Controp Precision Technologies have formed a 30:70 joint venture to manufacture electro optic/infra-red systems for various applications.

MOIL: The company recorded 43% growth year-on-year in manganese ore production during May at 1.53 lakh tonnes and 72% rise on year in sales at 1.53 lakh tonnes.

GAIL (India): The company infused in JBF Petrochemicals Rs 2,101 crore, including equity worth Rs 625 crore and debt worth Rs 1,476 crore, under the resolution plan for the latter. With this, JBF Petrochemicals has become a wholly owned subsidiary of GAIL.

Aster DM Healthcare: The entered hospital operation and management agreement with 130-bed Padmavathy Medical Foundation, based in Kollam, Kerala.

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