Today’s stock news includes JSW Steel, Vedanta, Sun Pharma, & other shares - BOL News - Financial Daily News Site

Today’s stock news includes JSW Steel, Vedanta, Sun Pharma, & other shares – BOL News

Today stock news

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City ( credit: Reuters)

  • The S&P 500 and Nasdaq futures both rose 0.1 percent.
  • Domestically, the Reserve Bank is expected to announce the outcome of its Monetary Policy Committee meeting on June 8 and is expected to hike interest rates.

Today’s stock news Nifty futures on the Singapore Exchange traded at 83 points, indicating that Indian equity markets will begin in the green. Global investors are cautious ahead of a vital reading on US inflation, as the euro gained ground against the yen on expectations that the European Central Bank will take a significant step toward policy tightening this week.

Oil prices rose substantially in early trade as Saudi Arabia boosted crude sales prices sharply in July, indicating how tight supply remains even after OPEC+ agreed to accelerate output increases over the next two months. In Asia, stocks rose slightly in Hong Kong and South Korea while falling in Japan, Shanghai, and Australia.

MSCI’s broadest index of Asia-Pacific equities outside Japan down 0.1 percent, while the Nikkei in Japan fell 0.3 percent. The S&P 500 and Nasdaq futures both rose 0.1 percent.

Read More: Stock futures are flat following a down week on Wall Street

Domestically, the Reserve Bank is expected to announce the outcome of its Monetary Policy Committee meeting on June 8 and is expected to hike interest rates.

The Centre also approved an interest rate of 8.1 percent on EPF deposits for 2021-22.

Stocks in the news:

Vedanta: The diversified metal miner announced that a committee of directors has approved a private offering of up to Rs 4,089 crore in debentures. The company would issue 40,890 non-convertible debentures (NCDs) with a face value of Rs 10,00,000 apiece.

Welspun Corp: Its associate company, East Pipes Integrated Company, has won a contract to deliver steel pipes in Saudi Arabia worth Saudi Riyal 490 million (about Rs 1,000 crore).

Adani Transmission has entered into a Share Purchase Agreement with Essar Power to acquire a 100% share in Essar Power Transmission Company (EPTCL).

The Ethos IPO was listed on the NSE at Rs 825, a 6% decrease from its issue price of Rs 878.

Sun Pharma: The drug company wants to boost its field force in the domestic market by 10% in the current fiscal year in order to achieve the dual goals of brand emphasis and geographic expansion.

TVS Motor is in advanced talks with private equity companies to raise Rs 4,000-5,000 crore to fund the group’s newly established electric mobility arm’s expansion strategy.

Poonawalla Finance: Market regulator Sebi lifted the suspension on Poonawalla Finance managing director Abhay Bhutada in a case involving alleged insider trading in Magma Fincorp shares.

Read More: Energy crisis: A decade of high energy prices & rise of battery tech

SBI Mutual Funds purchased 59,171 shares of V-Guard Industries through open market transactions on June 2nd.

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