The Indian market is likely to open lower today as SGX Nifty fell 309 points to 15,875. The market came under selling pressure on Friday, tracking deep losses in IT, finance, banking and energy stocks amid widespread selling in the global markets.
Sensex crashed 1,016 points to 54,303 and Nifty declined 276 points to 16,201 in the last trading session of the previous week.
Kotak Bank was the top Sensex loser, falling about 4 per cent, followed by Bajaj Finance, HDFC twins, Reliance Industries, Wipro, Infosys, Tech Mahindra, Tata Steel and TCS.
Asian Paints, UltraTech Cement, Dr Reddy's, Titan and IndusInd Bank were among the top Sensex gainers, rising up to 0.78 per cent.
Here's a look at stocks that are likely to remain in news today.
LIC: The lock-in period for anchor investors in the country's largest initial public offering (IPO) ends today. It will allow anchor investors to sell their shares in the market. The insurance behemoth garnered a little over Rs 5,627 crore from anchor investors led primarily by domestic institutions ahead of its mega initial public offering (IPO).
Asian Paints: The firm has announced another set of price hikes from July 1.
Adani Ports: Citi sees 35% upside in the stock against the current market price.
Vedanta: The mining major said that it has forayed into iron ore mining operations overseas through its arm Western Cluste, Liberia. WCL (Western Cluster Limited, Liberia) is a wholly-owned arm of Bloom Fountain (BFL) which is a wholly-owned subsidiary of Vedanta.
Jammu & Kashmir Bank: The state owned lender said its board has cleared the appointment of Pratik D Punjabi as the Chief Financial Officer.
Precision Wires India: The metal firm said the board has cleared additional capital expenditure of Rs 25 crore for capacity enhancement and modernisation which will result in further capacity enhancement of about 3000 MT per year at Silvassa unit.
Strides Pharma: The drug maker is recalling over six lakh bottles of blood pressure lowering drug Losartan Potassium tablets in the US market in multiple strengths due to deviation from standard manufacturing norms, according to a USFDA report.
CE Info Systems: The homegrown navigation firm MapmyIndia said it has joined hands with India's space agency ISRO which will raise the quality of its 3D maps. The company is developing new maps as part of its foray into the metaverse.
IIFL Finance: British International Investment (formerly known as CDC Group) sold 1.6 crore equity shares in the financial firm through open market transactions on June 10. However, Max Life Insurance Company bought 24.6 lakh equity shares and Nomura India Investment Fund Mother Fund purchased 44,74,548 shares of the company.
Lemon Tree Hotels: The hotel firm has inked a licence agreement for a 44-room hotel in Gajuwaka, Visakhapatnam, Andhra Pradesh under its brand 'Keys Lite by Lemon Tree Hotels. The hotel is expected to be operational by March 2023. Carnation Hotels, a subsidiary and the hotel management arm of the company, will operate the property.
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