🇮🇳 India Daybook ~ Stocks in News

Positive Buzz

• Wipro: The IT major's ₹15,000 crore share buyback program officially opens today, June 11. The company plans to repurchase 60 crore shares via the tender route at a price of ₹250 per share.
• Meta & Reliance: The two giants have reportedly inked a pact to establish Meta's first dedicated AI data center in India, located in Gujarat, to support local AI infrastructure and services.
• Zee Entertainment: The board has greenlit a fundraise of at least ₹2,300 crore through various tranches to support the company's strategic growth and business initiatives.
• Concord Biotech: The stock is expected to gain traction after the company received a nod from the USFDA for its manufacturing facility, clearing the path for expanded exports.
• Promoter Confidence: Promoter groups of NIIT Learning Systems, NCC, and Gandhar Oil Refinery have increased their holdings through open market purchases, while Responsive Industries and Paisalo Digital saw significant pledge revocations.
• UltraTech Cement: The cement leader has entered into a new energy supply agreement to enhance its green energy mix, likely improving long-term operational margins.

Neutral Developments

• Lenskart Solutions: Abu Dhabi Investment Authority (ADIA) is likely to sell a 2.3% stake in the company via a block deal today, with a floor price set at ₹486 per share.
• Zen Technologies: The company’s management will be in the spotlight as they participate in a major Defence & Aerospace Conference in Hyderabad to interact with institutional investors.
• SBI & UCO Bank: Both lenders have adjusted their interest rates; SBI hiked FCNR-B deposit rates by up to 295 bps, while UCO Bank raised its 3-month and 6-month TBLR by 10 bps.
• Earnings Watch: Jindal Poly Films, Maruti Interior Products, and Hindustan Oil Exploration Company (HOEC) are scheduled to announce their audited financial results today.

Negative News

• Global Cues: The GIFT Nifty is signaling a weak start for the Nifty 50, tracking a sharp sell-off in US and Asian markets triggered by fresh military strikes between the US and Iran.
• Crude Oil Surge: Brent crude has jumped over 2% to trade near $95.50 per barrel following threats to the Strait of Hormuz, posing a major risk to India’s trade deficit and inflation outlook.
• IT & Metal Sector: These sectors may face continued pressure after being the top drags in the previous session, exacerbated by a cautious outlook on global demand and rising input costs.

TAGS: Stocks in News, Stock Market, Buzzing Stocks, Nifty, Sensex

Tags: Stocks in News Stock Market Buzzing Stocks Nifty Sensex