Stock Market Snapshot 05 June 2024

Indian Oil signs agreement for 50:50 JV with Singapore-based Sun Mobility for battery swapping Business.

Tata Motors JLR UK May Auto sales up 29% at 6,093 units vs 4,732 units (YoY).

Lupin completes acquisition of 2 brands from Sanofl In Europe and Canada.

Reliance Industries’ fifth generation wireless service demand in Ghana faces opposition from the Country’s parliamentary minority, which has accused The administration of rushing into a “sweetheart deal.”.

Axis Bank: The Financial Intelligence Unit-India has imposed a fine of Rs 16.6 million on Axis Bank for non-compliance of certain provisions of the Prevention of Money Laundering.

Tata Motors board approved incorporating a wholly­ owned subsidiary with the proposed name TML Commercial Vehicles to house the company’s commercial vehicles business and its related investments.

Hindalco Industries: Novelis Inc. announced the postponement of its initial public offering due to market conditions. Novelis will continue to evaluate the timing of the offering in the future.

Deep Industries bags an order of Rs 56 crore from ONGC.

Vodafone Idea: CARE has revised the rating for Long Term Bank Facilities of Rs 9,981 crore (reduced From Rs 12,203 crore) to ‘CARE BB+; Stable’ from ‘CARE B+;Stable’.

HEG Ltd has incorporated a wholly owned Subsidiary company named as “HEG Graphite Ltd” to carry on the business of manufacturing graphite electrodes.

Uflex has entered into Power Purchase Agreement and Share Subscription and Shareholders’ Agreement for acquisition of 5.03 % equity shares aggregating to Rs. 9.60 crores in Onevolt Energy Pvt Ltd.

Container Corporation of India Ltd and Shipping Corporation of India Ltd have signed an MOU to provide seamless end to end logistics solution.

Tata Motors: The Board of Directors of Tata Motors Finance Limited (TMFL), a step down wholly owned subsidiary of the Company and the Board of Directors of Tata Capital Limited (TCL) have approved the Scheme of Arrangement (the Scheme) amongst TMFL and TCL and their respective shareholders .

LTIMindtree has expanded its partnership with SAP, A leading provider of enterprise application software To deliver innovations for complex manufacturing industries.

Jindal Stainless’ subsidiary Chromeni Steels Pvt Ltd has acquired 100% stake of Evergreat International Investment Pte Ltd,Singapore.

SH Kelkar and Company: Company’s Wholly Owned Subsidiary – Keva Europe B.V. has incorporated a Company in Germany as its wholly owned subsidiary and the same has been registered in the German Trade Register (Chamber of Commerce).

Wipro has partnered with Zscaler to introduce Wipro Cyber X-Ray, an Al-assisted decision support platform.

Hindustan Aeronautics: A Sukhoi 30 MKI Aircraft crashed while on test sortie from HAL Nashik Division. Both pilots of HAL have ejected safely. A technical snag was reported by the pilots.

Shilpa Medicare: Shilpa Biologicals Pvt Ltd, a wholly owned subsidiary of the Company has filed its first Drug Master File of recombinant Human Albumin 20% with USFDA.