Nifty futures were trading 79.5 points or 0.51 per cent higher at 15,644 on the Singapore Exchange, indicating that Dalal Street was headed for a positive start on Friday. In the previous session, the weekly F&O expiry turned out to be a rollercoaster ride for the day traders as sharp movements were witnessed on both sides of the trade. Sensex ended higher by over 400 points, and Nifty closed above 15,550 mark, with auto stocks leading the rally.
Hero MotoCorp will increase the prices of motorcycles and scooters from July 1. The company will increase the ex-showroom prices of its motorcycles and scooters from July 1 to partially offset the ever-increasing input cost inflation. The price revision will be up to Rs 3,000. The exact amount of increase will be subject to the specific model and market.
ONGC branch announces new oil discovery in Colombia. ONGC Videsh, a wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation, has discovered oil in the recently drilled Urraca-IX in CPO-5 block, Llanos Basin, Colombia. Earlier ONGC Videsh had discovered commercial oil in Lower Sand Pay in Mariposa and Indico fields in 2017 and 2018 respectively, which are currently producing 20,000 barrels per day commercially.
Century Plyboards further invests in subsidiary Century Panels. The company has further invested Rs 20.95 crore in its wholly owned Century Panels by subscribing to 2.09 crore shares through a rights issue.
DCM will invest Rs 65 crore in Special Purpose Vehicle (SPV) for Shriram Wind-Solar Hybrid Renewable Energy Project. The company informed the exchanges that the board has approved investment of up to Rs 65 crore for a minimum 26 per cent equity stake in an SPV, which will be built to set up a wind-solar hybrid renewable energy project. The company will get 50 MW renewable energy supply (25 MW round the clock) from the SPV. It will invest up to Rs 57.10 crore to manufacture Sulphate of Potash (K2SO4) at Hariwan (UP) sugar facility with a capacity of 4,600 TPA and aims to optimize circular economy and derive value from byproducts.
The Thermex branch buys two companies in the renewable energy sector. Subsidiary First Energy has acquired two companies – Jalansar Wind Energy and Kanakal Wind Energy – which will become wholly owned step-down subsidiaries of Thermax. Both companies belong to the renewable energy sector.
Jammu and Kashmir Bank
J&K Bank will consider fundraising on June 28. The bank said the board will hold a meeting on June 28 to consider raising capital (Tier I/Tier II) during the financial year 2022-23.
Signity Technologies will consider closing the share buyback on June 29. The company said that its board of directors will meet on June 29 to consider discontinuing the buyback of the company’s shares.
Nariman Investment Holdings sold 4.02 lakh shares in Suyog Telematics. Nariman Investment Holdings sold 4.02 lakh shares in the company through open market transaction on June 22. With this, its shareholding came down from 22.89 per cent to 19.05 per cent. Out of the shares sold, Ketan Mohanlal Kakrecha acquired 1.5 lakh shares at an average price of Rs 347.81.
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