Markets remained volatile on the weekly expiry day and ended lower amid weak global cues. As anticipated, the market continues to witness selling pressure on every rise. However, rotational buying in select heavyweight stocks is helping contain the pace of the decline. Analysts say a decisive break below the 23,000 mark could trigger the next leg of the corrective phase, while the upside is likely to remain capped near the 23,500 level. At the same time, profit booking in the broader indices, which had been outperforming earlier, is adding to participants’ concerns.
In today's trade, shares of Lenskart, GNG Electronics, Vedanta, Infosys, RIL among others will be in focus due to various news developments
Shares of GNG Electronics witnessed a block deal worth about Rs 175 crore on Thursday, with multiple domestic mutual funds and foreign investors picking up shares in the recently listed refurbished electronics company. According to exchange data, Promoter Vidhi S Khandelwal sold 44.87 lakh shares of GNG Electronics at Rs 390 per share, taking the total transaction value to Rs 175 crore.
ADIA-backed Platinum Jasmine A 2018 Trust on Thursday sold a 2.3% stake in Lenskart Solutions through a block deal worth Rs 1,960 crore, according to exchange data. The investor offloaded 4 crore shares at Rs 490 apiece, translating into a total transaction value of Rs 1,960 crore. The sale was executed at a discount of about 2% to Lenskart's previous closing price of Rs 500.15.
Investors in Vedanta will finally get a price for the group's demerged businesses on June 15, when four newly created entities -- Vedanta Aluminium Metal (VAML), Vedanta Oil & Gas (VOGL), Vedanta Power and Vedanta Iron & Steel (VISL) -- begin trading on Indian stock exchanges. The listings mark the end of Vedanta's long-awaited demerger exercise, one of the biggest corporate restructurings undertaken in India's metals, mining and natural resources sector.
Infosys announced that it has successfully completed and contributed to the CMMI AI Maturity (AIM) Framework and Pilot Assessment, conducted by CMMI Institute, a global leader in helping organizations reduce risk, boost performance and build capability. Through this collaboration, Infosys assisted with the advancement of the CMMI AIM framework.
RIL
Indian industrial groups Reliance, Vedanta and Adani have shown interest in developing facilities to process Andhra Pradesh state's significant reserves of increasingly important rare-earth minerals, Reuters reported.
