Stock Market LIVE Sensex Nifty Gift Nifty Ambuja Cement LIC Nasdaq Dow Jones

Stock Market LIVE on Friday, June 14, 2024: Indian equities are staring at a flattish start on Friday, tracking negative global peers. The GIFT Nifty futures also indicated a flat to positive, as they quoted 22 points higher than the Nifty50 futures at 23,421 levels. 

Markets in Asia-Pacific largely stayed in the red zone ahead of the Bank of Japan’s rate cut decision that is due today.  

In the Asian market, Japan’s Nikkei 225 fell by 0.31 per cent higher, with the broader Topix index trading flat, down marginally by 0.03 per cent.

South Korea’s Kospi was down slightly by 0.1 per cent, while the small-cap Kosdaq index declined by 0.91 per cent.

However, Australia’s S&P/ASX 200 slipped by 0.37 per cent. Meanwhile, Hong Kong’s Hang Seng index futures slided by 0.47 per cent. 

Overnight on Wall Street, S&P 500 futures and Nasdaq 100 saw their fourth straight closing record, rising by 0.23 per cent and 0.34 per cent, respectively. 

However, Dow Jones Industrial Average futures experienced a slight decline of 0.17 per cent.

Stocks to watch:

Ambuja Cement: Acquiring 100 per cent ownership of Penna Cement Industries comes at an enterprise value of Rs 10,422 crore.

LIC: The company increased its shareholding in Dr Reddy’s Laboratories from 4.95 per cent to 5.01 per cent.

Vodafone Idea: Board sanction secured to raise Rs 2,458 crore through preferential share issuance. The capital infusion aims to alleviate a portion of the company’s debt burden, bolster 4G network expansion, and initiate 5G service deployment.

Puravankara: Board grants preliminary approval to raise up to Rs 1,000 crore through a Qualified Institutional Placement (QIP).

However, contrary to the expectations of investors, the US Federal Reserve, although, as expected, it kept the benchmark rate unchanged in 5.25-5.50 per cent range, struck a hawkish tone in its monetary policy decision delivered on June 12. Read more

The white metal looks vulnerable after falling through the key support zone of $28.92-$29. The metal may fall to $28.50 (Rs 86,600)/$27.50 (Rs 83,600) in the short term. However, a medium to long term outlook is constructive. Read more

Vodafone Idea: Vodafone Idea (Vi) has decided to offer a Rs 2,458 crore stake to long-term vendors Nokia and Ericsson in a bid to partially clear outstanding dues.

Dr Reddy’s Labs: Life Insurance Corporation (LIC) of India has increased its stake in the diagnostic firm from 4.95 per cent to 5.01 per cent, LIC said in an exchange filing. More than 1 lakh shares were acquired from the open market, at an average price of Rs 6,059.82 each, it added.

Puravankara:The Board has given its in‐principle approval to proceed to raise funds through QIP mode up  to an amount not exceeding Rs 1,000 crore in one or more tranches. Read more

Singh has set a target to generate military exports worth Rs 50,000 crore on an annual basis and has vowed to fast-track initiatives under ‘Make in India’ for defence production.

Suven Pharmaceuticals: Suven Pharmaceuticals has entered into a definitive agreement to acquire a controlling stake in Hyderabad-based contract research development organisation (CDMO) Sapala Organic for Rs 229.5 crore, in an all cash deal.

Suven said it would initially acquire a 67.5-per cent equity stake of Sapala subject to customary working capital and net debt adjustments, and the remaining stake a few months after FY2026-27. Read more

While there’s bullish consensus on the company’s future performance, the stock has gained over 40 per cent in the last six months and valuations may become stretched. Read more

According to a report by IIFL Securities, Hero MotoCorp, Zydus Lifesciences, JSW Energy, NHPC, Bharat Heavy Electricals, Bosch and Samvardhana Motherson are expected to earn upgrades in the revised list of largecap, midcap and smallcap stocks set to be released in the first week of July. Read more

This marks the highest amount raised in the first six months of a calendar year since the introduction of the SME option. Read more

Their theory? PSU stocks are reaping benefits of significant policy changes and will remain the prime beneficiaries of the government’s focus on capital expenditure ahead. Read more

1) Buy Chambal Fertilisers (27-June Expiry) 440 Call at Rs 11 & simultaneously sell 460 Call at Rs 4.6

Lot Size: 1,900

Equity market in India will be closed for trading on Monday on account of Bakri Id holiday.

Overnight, the S&P 500 and NASDAQ ended at record highs, up 0.2 per cent and 0.3 per cent, for the fourth straight trading session as technology shares remained supportive. Dow Jones, however, dropped 0.6 per cent. Read more