The domestic indices rebounded after an initial phase of profit booking, driven by encouraging WPI inflation data and positive global cues. With improving macros, supported by FII buying, the overall structure of the markets remains positive
Investors would take cues from the outcome of the US Fed meeting on policy rate and Fed Chair’s commentary would hold importance. TCS, Kotak Mahindra Bank, Varun Beverages, DCB Bank among stocks to watch on Thursday
Shares of Tata Consultancy Services (TCS) will trade ex-dividend on Thursday, June 15, 2023. The company had announced a final dividend of Rs 24 per equity share
Vedanta Resources (VRL), the parent company of Vedanta, is expected to “successfully” service its debt maturities in the next 12 months, according to CreditSights. However, it is watchful of the refinancing risk for $4.2 billion term debt due in FY24 and has cautioned of execution risks, while inability to tie up funds for late FY24 would pose downside risks
Shares of DCB Bank will trade ex-dividend on Thursday, June 15, 2023. The company had announced a final dividend of Rs 1.25 per equity share
Shares of FMCG major Varun Beverages Ltd will trade ex-split on bourses today. The firm fixed June 15, 2023, as the ‘Record Date’ for determining the entitlement of equity shareholders for the purpose of sub-division/split of existing equity shares. On May 2, the board of Varun Beverages decided to split its shares in the proportion of 1:2
Zurich Insurance Group is in talks to buy up to 51% of India’s Kotak General Insurance, which is fully-owned by Indian banking giant Kotak Mahindra Bank. The early-stage negotiations value the Indian company at around $800 million, according to reports
Construction engineering company KEC International on Wednesday said that it has bagged orders worth Rs 1,373 crore across its various businesses. The company has received orders from railways, residential and commercial building segments, transmission and distribution, and also for cables in India and overseas
“Nifty remained sideways as the investors remained at the sideline ahead of the Fed rate decision. However, the trend remains positive as the index closed above the critical near-term moving average. The momentum oscillator RSI is in a bullish crossover. Resistance on the higher end, is placed at 18,800-18,900. On the lower end support is seen at 18,700/18,600,” said Rupak De, Senior Technical at LKP Securities
“Bank Nifty has been trading in a narrow range around the 20-day moving average (44,000). We expect the Bank Nifty to hold on to this support and resume its upmove. Short term target is placed at 44,500.,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas
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