Nifty futures on the Singapore Exchange traded 1 point, or 0.01 per cent, higher at 15,723, signaling that Dalal Street was headed for a muted start on Wednesday. The market extended losses for a third consecutive session with the Nifty50 witnessing a fresh closing low of 2022 on June 14, as traders maintained caution ahead of interest rate decision by the US Federal Reserve. The BSE Sensex fell 153 points to 52,694, while the Nifty50 declined 42 points to 15,732.
The Nifty50 has formed a small positive candle on the daily chart with a long upper shadow, according to Nagaraj Shetti, Technical Research Analyst at HDFC Securities.
“There is no evidence of any sharp recovery emerging from near crucial support at 15,700-15,650 levels… There is a higher possibility of filling of the recently formed downside gap around 16,170 levels by next 1-2 weeks,” he said.
The paint company acquired a 51 per cent stake in Weatherseal Fenestration for Rs 18.84 crore. Weatherseal Fenestration is now a subsidiary of the company.
PNB Housing Finance
The company in its BSE filing said its board of directors has approved the issuance of non-convertible debentures aggregating up to Rs 2,000 crore on a private placement basis.
Nayveli Lignite Corporation has appointed Engineers India as a project management consultant for its 1,200 TPD lignite to methanol project. This landmark project is expected to be commissioned in 2027.
Subsidiary GR Bandikui Jaipur Expressway Private Limited has executed the concession agreement with the National Highways Authority of India. The project worth Rs 1,368 crore includes the construction of a 4-lane greenfield expressway spur from Delhi-Vadodara Greenfield expressway near Bandikui to Jaipur in Bharatmala Pariyojana Phase-1 in Rajasthan on hybrid annuity mode.
The state-owned utility firm will begin commercial operations of its 15 MW solar capacity at Kawas Solar Project in Gujarat. The capacity is part of the 56 MW Kawas Solar Project located in Kawas near Surat district of the state.
The leading telecom player announced Xstream multiplex, which the telco said is India’s first multiplex in the metaverse. The Xstream multiple ..
The LIC run lender said it has raised interest rates by up to 25 basis points (bps) on retail term deposits of less than Rs 2 crore. The revised rates would be applicable across various tenors for domestic term deposits, non-resident ordinary (NRO) and non-resident external (NRE) term deposits, effective June 15.
Yes Securities, a wholly owned subsidiary of the lender said it is bullish about expanding footprint in more cities of West Bengal, and does not foresee any adverse impact on retail investors’ interest in the stock market, despite a sharp correction and high volatility. It said it is aiming at doubling its physical stock dealing branches to 24.
Priyadarsi Bastia is appointed as Chief Financial Officer and key managerial personnel of the company, with effect from July 1, 2022. It was after P Krishnamoorthy resigned as Chief Financial Officer of the company.
Cipla, and not-for-profit research and development organisation DNDi launched child-friendly 4-in-1 anti-retroviral treatment for young children living with HIV in South Africa. This combination treatment has been developed by Cipla and the Drugs for Neglected Diseases initiative (DNDi).
Dev Information Technology
The company has bagged orders worth Rs 2.52 crore for an online integrated portal for farmers (RajKisan Saathi) comprising services related to agriculture, horticulture, seed certification, seed corporation, and agriculture marketing.
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