scorecardresearch
US pharma giant Gilead uses ‘Double Irish’ tax loophole where to buy illegal steroids online the truth about anabolic steroids and its relation to health and fitness | fit for the soul

SBI Card, TCS, Adani Enterprises, Reliance Industries, Tata Motors, NMDC stocks in focus on 7 June 2022

Indian equity markets are likely to open gap down on Tuesday as SGX Nifty hinted at a negative start for benchmark indices BSE Sensex, NSE Nifty 50. Nifty futures traded 101 points, or 0.61% lower at 16,471 on the Singapore Exchange signaling that Dalal Street was headed for a negative start.

stocks in focus, stocks to watch, stock markets, ril
SBI Card, TCS, Adani Enterprises, Reliance Industries, Tata Motors, NMDC stocks in focus on 7 June 2022

Indian equity markets are likely to open gap down on Tuesday as SGX Nifty hinted at a negative start for benchmark indices BSE Sensex, NSE Nifty 50. Nifty futures traded 101 points, or 0.61% lower at 16,471 on the Singapore Exchange signaling that Dalal Street was headed for a negative start. “Markets are likely to continue with its volatility given RBI and ECB policy meeting scheduled this week. Further couple of macro data points like US inflation, China inflation and UK GDP data are also due this week. Nifty continued to move in a broader range and has managed to stay above its key support of 16400 levels. With result season now over, investors would track global developments as well as Central bank’s commentary for taking fresh cues on markets,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.

Stocks in focus on 7 June, Tuesday

SBI Card: SBI Cards and Payment Services on Monday said its board has approved a proposal to raise Rs 2,500 crore by issuing non-convertible debentures (NCDs) to fund business growth. The fund would be raised in one or more tranches, SBI Card said in a regulatory filing. The NCD issuance would be done on a private placement basis, it added.

Adani Enterprises: Adani Enterprises announced its entry into the healthcare sector, stating that it has incorporated a wholly-owned subsidiary for healthcare-related services Adani Health Ventures Limited (AHVL). West Bengal Industry Minister Partha Chatterjee on Monday said the state government has given its nod to Adani Enterprises for setting up a hyper-scale data centre park at Bengal Silicon Valley in the New Town area on the outskirts of the city. Chatterjee said the cabinet gave its go-ahead to the company to set up the facility on 51.75 acres of land.

TCS: Tata Consultancy Services (TCS) expects the rate of staff departures to fall and demand for its services to rise as companies continue with their pandemic-hastened digitisation processes, a company executive said. More tech talent is expected to enter the job market from startups facing funding crunches, as central banks withdraw stimulus and hike rates, TCS Asia Pacific President Girish Ramachandran told the Reuters Global Markets Forum on Monday. TCS’ rate of staff attrition rose to 17.4% in the quarter-ending March 2022 from 15.1% in the whole of 2021, as India’s IT services sector experiences a tech talent crunch and high staff turnover.

Reliance Industries: RIL stands to be the biggest beneficiary of rising crude oil imports from Russia, according to Citi Research. Among refiners, Crude oil imports from Russia, according to the report, might have risen to more than 15% of India’s total imports compared to 1-2% historically. Based on rough calculations, Citi assumes a $15-a-barrel discount on roughly 20% of the crude mix could boost RIL’s gross refining margin by almost $3 a barrel.

Tata Motors: Tata Motors has bagged an order to deliver 10,000 Xpres-T to BluSmart Electric Mobility. This is over and above the previous order that consisted of 3,500 units of Xpres-T EVs making this India’s largest EV fleet order. An MoU related to this was signed between Tata and BluSmart on World Environment Day. BluSmart will use the X-pres-T for its cab services in many cities in India.

NMDC: The state-owned mineral producer has fixed the price of lump ore at Rs 4,400 per tonne, and Fines at Rs 3,310 per tonne with effect from June 5, reduced significantly from Rs 5,500 per tonne and Rs 4,410 per tonne on May 25 this year. These prices are excluding royalty, DMF, NMET, cess, forest permit fee and other taxes.

Dish TV India: A 0.51% stake in the company was offloaded by promoter entity World Crest Advisors LLP through open market transactions.

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

Most Read In Market