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Buzzing Stocks: Adani group stocks, Coal India, Jubilant FoodWorks and others in news today
Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services:
The further direction of the domestic markets would depend on the monsoon, opening up of the economy in a phased manner and the pace of vaccination going forward. Technically too, Nifty remain in a positive set up and can see a move towards highs of 16000 zones.
The action in the primary market will also be high as four new issues hit Street this week, namely Shyam Metalics, Sona Comstar, Dodla Dairy and Krishna Institute of Medical Science to raise funds more than Rs 9000 crore. Also investors would track various macro data points domestically and globally along with US Fed decision this week.
BSE Realty Index up 1 percent:
Adani group stock bounce back
Adani group stock have rebounded at open on June 15, a day after the stocks took a beating on the back of media reports that suggested NSDL has frozen three FPI accounts owning Adani Group shares.
At open on June 15, share price of Adani Ports was up 1 percent while Adani Power was down 5 percent. Stock price of Adani Enterprises gained over 2 percent at open.
National Securities Depository Ltd (NSDL) has frozen the accounts of three Foreign Portfolio Investors (FPI) — Albula Investment Fund, Cresta Fund and APMS Investment Fund — which together own over Rs 43,500 crore worth of shares in four Adani Group companies-Adani Enterprises, Adani Green Energy, Adani Transmission, Adani Total Gas, media reports suggested on June 14.
Buzzing:
Coal India share price rose nearly 2 percent on June 15 a day after company posted its March quarter earnings. State-owned Coal India on Monday reported a marginal 1.1 percent decline in its consolidated profit at Rs 4,586.78 crore for the quarter ended March 2021 on the back of lower sales.
The company had posted a consolidated profit of Rs 4,637.95 crore in the same period a year ago.
SEBI fines Franklin Templeton's CEO, fund managers, trustees and compliance officers
In a follow-up to its order issued last week, the capital market regulator Securities and Exchange Board of India (SEBI) on June 14 imposed monetary penalties on Sanjay Sapre, its chief executive officer, and its debt fund managers, among other top officials.
It fined Sapre and Santosh Kamath, the chief investment officer of its fixed income management, a sum of Rs 3 crore each. SEBI also fined other debt fund managers of Franklin Templeton, namely Kunal Agarwal, Sumit Gupta, Pallab Roy, Sachin Padwal Desai and Umesh Sharma a sum of Rs 1.50 crore each.
Nish Bhatt, Founder & CEO, Millwood Kane International:
After some signs of cooling off in the past few months, the CPI inflation for the month of May stood at a 6 month high, much higher than the mandated target range of 4-6% for the RBI.
Food inflation above the 5% mark, edible oil, and pulses have led to relatively high inflation. This has led to the core inflation shooting up to 6.6%.
The high inflation is despite renewed lockdown in the month of May and looks largely a supply-side issue. High & sticky inflation is a cause of worry, despite the low industrial capacity utilization.
Market Opens: Indian indices opened higher on June 15 with Nifty above 15850.
Adani group stocks are mixed after NSDL says accounts of foreign funds invested in Adani companies are not frozen.
At 09:17 IST, the Sensex was up 196.08 points or 0.37% at 52747.61, and the Nifty was up 58.00 points or 0.37% at 15869.90. About 1576 shares have advanced, 374 shares declined, and 67 shares are unchanged.
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Here's what Vikas Jain of Reliance Securities recommends investors should do with these stocks when the market resumes trading today
ICICI Direct:
Indian markets are likely to open flat and remain at record highs tracking mixed global cues as traders eye global economic recovery and lowered concerns about US central bank tapering their asset buying programmes. US markets ended mixed tracking gains in tech stocks and losses in financials ahead of monetary policy decision this week.
Market at pre-open: Benchmark indices are trading higher in the pre-opening session amid mixed global cues.
At 09:01 IST, the Sensex was up 180.06 points or 0.34% at 52731.59, and the Nifty was up 51.90 points or 0.33% at 15863.80.
Market LIVE Updates: Adani group stocks mixed; Sensex, Nifty at fresh record high - Moneycontrol.com
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