An employee looks at an index graph displaying Russian stock price fluctuations at the Moscow Exchange MICEX-RTS PJSC in Moscow, Russia. (Photographer: Andrey Rudakov/Bloomberg)
Live: SGX Nifty Indicates A Flat Open; Kotak Mahindra Bank, Britannia, NMDC In Focus
Key Stocks In Focus
- Kotak Mahindra Bank: Founder and CEO Uday Kotak plans to sell 5.6 crore shares or 2.83% equity through a 100% secondary placement. The price range is between Rs 1,215 - 1,240 per share, implying a 0.7-2.7% discount to Monday's closing price. Objective for the share sale is to bring Kotak's stake in the lender down to 26% by August, 2020 - in-line with the Reserve Bank's regulation.
- MOIL: Prices of different grades of Manganese Ore and other products reduced by 10% from June 1 as compared to the previous month.
- NMDC: Sale of iron ore in May fell 24% to 2.55 million tons, while production declined 25% to 2.29 million tons.
- Coal India: Production in May fell 11.3% to 41.43 million tons, while offtake declined 23.3% to 39.35 million tons.
- Tata Power: Acquired 51% stake in TP Central Odisha Distribution for Rs 178.5 crore. Government of Odisha will hold the remaining stake in the venture. Company will manage power distribution in central Odisha from June 1.
- SBI Cards: 11.8% customers are in moratorium as of May 22. Corporate card spends have seen a moderate recovery with partial resumption of domestic air travel.
- NCC: Gets four new orders worth Rs 1,136 crore in May.
- Welspun Enterprises: Board approved raising Rs 300 crore via equity and increasing share capital from Rs 180.05 crore to Rs 275 crore. Balkrishna Goenka re-appointed as Executive Chairman till June 2025. Post April 14, work has resumed on all projects. Company has written to authorities invoking Force Majeure which ensures interest of the company is protected under concession agreement.
- Non-Nifty Earnings Today: Granules India, InterGlobe Aviation, Motherson Sumi, Spandana Sphoorty Financial, Sun Pharma Advanced Research Company.
To know more about companies sharing their Covid-19 updates and for earnings reported after market hours on Monday, click here.
Your Trade Setup For The Day
How Did The Fund Flows Fare On Monday
A Check On Indian ADRs
U.S. Markets On Monday
- Benchmark indices post modest gains as investors shrugged off violence against police brutality over economic recovery.
- S&P 500 ended 0.4% higher while the Nasdaq outperformed.
- A gauge of U.S. manufacturing rose in May for the first time in four months.
- Over 40 million Americans have filed for unemployment benefits.
- Goldman Sachs in a note said the U.S. labour market is showing the earliest signs of rebounding.
- The Bloomberg Dollar Spot index fell 0.7%. It now trades flat.
- West Texas Intermediate crude ended little changed at $35.59 per barrel.
Catch all the live action from the global markets here.