Stock Market Snapshot 04 June 2024

Infosys announced its collaboration with Nihon Chouzai (TSE) to expand healthcare access in Japan with enhanced online medication guidance services and payment solutions.

Bharti Airtel unveiled special packs for customers with World’s Biggest T20 Cricket Tournament in mind.

NTPC likely plans a nuclear foray by setting up 1O GW capacity with an investment of 1.5 trillion over a period of 10 years.

Interglobe Aviation likely plans to start 10 new destinations this fiscal year, including Mauritius and another destination in Thailand.

Canara Bank likely has initiated the process of seeking regulatory approval to convert its software Services and products subsidiary into a non-banking Finance company.

Axis Bank wholly-owned subsidiary Axis Finance likely raised Rs 1 billion through perpetual bonds. The Issue was fully subscribed. The bonds carry a fixed Coupon of 8.67%, payable annually.

Adani Enterprises’s wholly-owned subsidiary Stratatech Mineral Resources will be merged with Adani Ports and Special Economic’s wholly­ owned subsidiary Mahan Energen.

Bajaj Finance board to meet on June 6 to consider And approve the IPO proposal of listing of Bajaj Housing Finance, a wholly owned subsidiary of Bajaj Finance.

Adani Power: Company’s wholly owned Subsidiary M/s Mahan Energen Ltd (MEL or the “Transferee Company”) has approved a proposed Scheme of Amalgamation of Stratatech Mineral Resources Pvt Ltd, a wholly owned subsidiary of Adani Enterprises Ltd, with MEL .

Sasken Technologies: The Board has designated Mr. Rajiv C. Mody as Chief Executive Officer of the Company in addition to his current position of Chairman and Managing Director effective said date i.e., 3rd June 2024.

Sasken Technologies: Mr. Abhijit Kabra has stepped down from the position of Chief Executive Officer of the Company effective this date i.e., 3rd June 2024.

Kansai Nerolac Paints: Mr. Debashish Vanikar has been appointed as a Senior Vice President designated as the Chief Executive Officer of its wholly owned subsidiary, Neroflx Pvt Ltd.

Aurigene Pharmaceutical Services Ltd, a Dr. Reddy’s Laboratories Ltd company, inaugurated its biologics Facility spread across 70,000 sq.ft. in Genome Valley, a bio cluster, located in Hyderabad, India.

KEI Industries: Dr. Zaid Kahtan Abbas is appointed as the Sr.Vice President-Technical/R&D , a Senior Management Personnel of the Company.

M&M Financial: Business Assets at approximately Rs 105,250 crores, grew 3% MoM and 23% YoY. The Collection Efficiency was at 96% for May 2024 (against 96% for May 2023). Stage-3 and Stage-2 assets have remained below 10% put together.

Wipro appoints Bruno Schenk as the Country Head and Managing Director for Switzerland, effective immediately. He will report to Wipro’s Europe CEO Pierre Bruno.

VIP Industries: Ms. Nisaba Godrej has tendered her resignation as an Independent Director of the Company w.e.f. 3rd June, 2024.

Rail Vikas Nigam bags an order of Rs 440 crore From South Central Railway.

Kalyan Jewellers India Ltd has entered into a share sale and exit agreement with Mr. Rupesh Jain and Enovate Lifestyles Pvt Ltd (Enovate) (existing subsidiary of the Company) for acquiring 15% equity stake in Enovate by way of purchase of shares from Mr. Jain. Pursuant to the acquisition, Enovate (Candere) will become a 100% wholly­ owned subsidiary of the Company.

Cupid announces the commencement of its strategic venture into the Indian market through the introduction of its Rapid In Vitro Diagnostic (IVD) kits distribution network.

MOIL scales a new peak of 2.15 lakh tonnes monthly sales of manganese ore in May, 2024, Surpassing the previous record of 1.83 lakh tonnes in December, 2019 and registering an impressive Growth of 41% over May’23.