8th June, 2021 Morning Brief

Market will open on a positive note today in continuation of yesterday's move. 

Asian stocks were steady early Tuesday as investors await more clues on the outlook for inflation and central bank stimulus amid the recovery from the pandemic.

The S&P 500 ended a languid session slightly in the red on Monday, with investors standing by on news of a global minimum corporate tax rate, lingering inflation fears, and a lack of market-moving economic news.

The Dow Jones Industrial Average fell 126.15 points, or 0.36%, to 34,630.24; the S&P 500 lost 3.37 points, or 0.08%, at 4,226.52; and the Nasdaq Composite added 67.23 points, or 0.49%, at 13,881.72.

SEBI tells Franklin Templeton to return over Rs 500 crore to investors. 

🎯 News & Impact 🎯

🎯 Union Bank of India: The company reported standalone profit at Rs 1,329.77 crore in Q4FY21 against loss at Rs 2,503.18 crore in Q4FY20, net interest income jumped to Rs 5,402.86 crore from Rs 2,878.11 crore YoY.

Positive. 👍

🎯 Indiabulls Housing Finance: Indiabulls Housing Finance and Indiabulls Commercial Credit entered into a strategic co-lending partnership with Central Bank of India to offer secured retail loans and secured MSME loans respectively at competitive rates.

🎯 Infosys: The company announced a collaboration with Archrock, the leading provider of natural gas compression services in the US, to integrate digital technologies and mobile tools for its field service technicians.

🎯 Surya Roshni: The company received order of Rs 170.52 crore for coated line pipes for gas grid pipeline project from Indradhanush Gas Grid (IGGL).

🎯 Dhampur Sugar Mills : 

Approved demerger of Asmoli, Mansurpur and Meerganj units to the resulting company (a wholly-owned subsidiary of the company). The turnover of the demerged divisions for the FY21 was Rs 2,034.13 crore representing 48% of the total turnover of the demerged company for the said financial year.

🎯 Hindustan Construction Company : Defaulted on payment of loan of Rs 2,030.64 crore from banks, financial institutions, and unlisted debt securities. The total amount of loan outstanding as on date stands at Rs 4,147.84 crore.

🎯 Asian Granito India : Promoters (Mukeshbhai Patel HUF, Sureshbhai Patel, Bhanuben Patel, Jivabhai Patel HUF) sold 6.69 lakh shares between June 3-4. 

🎯 TVS Motor Company : 

Promoter Sundaram-Clayton sold 2.44 crore shares on June 7. 

🎯 Vardhman Textiles : Promoter 

Vardhman Holdings bought 5,000 shares on June 4. 

🎯 Vardhman Special Steels : Promoter Sachit Jain bought 6,000 shares between June 3-