Good morning everyone, Markets fell yesterday for the 2nd consecutive day ahead of 2 major Reliance AGM & the monthly expiry, if you have not read the post-market report yesterday, you can read it by clicking here. Investors are being cautious about what could this event hold.

Indian Market

The 44th Annual General Meeting (AGM) of Reliance Industries Limited (RIL) will be held on today at 2 p.m. through video conferencing and other audio-visual means (OAVM). So watch out for the market action around that time. Reliance had the highest weightage in the Nifty Index, hence we can see big movements around that time. Trends on SGX nifty again indicated a gap up opening 15750. But remember, we could see huge volatility in the market today due to the above-mentioned events.

Global Markets

Looking at the global markets, In the US, Dow was down 0.21% at 33,874 while the S&P was down 0.11%. NASDAQ was up 0.13%.

European stocks remained below record highs on Wednesday as inflation worries overshadowed data showing a rise in June business activity. Dax was down 1.15% while CAC was down 0.91%. FTSE was down 0.22%

Asian stocks opened mostly steadily on Thursday after U.S. shares moved in narrow ranges as traders digested commentary from Federal Reserve officials on the outlook for stimulus. China’s open will be in the spotlight after a report that the U.S. is poised to bar some solar products made in the Xinjiang region over alleged human rights abuses.

Results on June 24:

Oil and Natural Gas Corporation, Ashok Leyland, Allied Computers International, Bodal Chemicals, CL Educate, Deep Industries, Everest Kanto Cylinder, Essar Shipping, Future Supply Chain Solutions, Mishra Dhatu Nigam, Mudra Financial Services, PTC India, South India Paper Mills, Sundaram Multi Pap, Take Solutions, Thangamayil Jewellery, and West Coast Paper Mills will release their quarterly earnings on June 24.

FII and DII data:

Foreign institutional investors (FIIs) net bought shares worth Rs 3,156.53 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 1,317.20 crore in the Indian equity market on June 23

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Stock Specific News

Tata Motors | The company’s Managing Director and CEO Guenter Butschek will step down from his role on June 30, 2021, but will continue to serve as a consultant to the company till the end of FY22.

Reliance Industries | Mukesh Ambani-led Reliance Industries (RIL) will hold its 44th Annual General Meeting (AGM) on June 24, at 1400 hours IST. At the closely watched event, RIL is expected to make announcements across its telecom, retail, and O2C business.

HDFC Bank | HDFC bank has redoubled its efforts to scale up its IT infrastructure to prevent glitches that led to regulatory action

Shyam Metalics & Energy Ltd | Base price ₹306 per equity share & listing today

Sona Comstar | Base price ₹291 per equity share & listing today

Nureca | Hornbill Orchid India Fund bought 1,95,766 equity shares in Nureca at Rs 1,549.97 per share on the BSE, the bulk deals data showed.

Piramal Enterprises | The company’s board on June 28 will consider issuing NCDs up to Rs 1,000 crore.

Apollo Hospitals Enterprise | The company’s board approved the transfer of pharmacy distribution business, including online technology platform Apollo 24/7 on a slump sale basis, and it's shareholding in Apollo Medicals Pvt Ltd to its newly formed wholly-owned subsidiary Apollo HealthCo Ltd, for a proposed consideration of Rs 1,210 crore. The company’s Q4FY21 consolidated net profit fell to Rs 169.89 crore from Rs 209.60 crore, YoY.

Allcargo Logistics | The company’s Q4FY21 consolidated profit fell to Rs 5.91 crore from Rs 54.06 crore, while revenue jumped to Rs 3,349.31 crore from Rs 1,870.96 crore, YoY.

Godawari Power and Ispat | Government has accorded its environment clearance for enhancement of iron ore production capacity from 1.405 MTPA to 2.35 MTPA in Ari Dongri Iron Ore Mines at Chhattisgarh, and for setting up of beneficiation plant of 0.6 MTPA capacity.

Sharda Motor Industries | The company’s Q4FY21 consolidated profit jumped to Rs 25.91 crore from Rs 6.19 crore, revenue rose to Rs 604.16 crore from Rs 237.07 crore, YoY. The company approved the joint venture between Sharda Motor Industries, and Kinetic Green Energy and Power Solutions.

Schneider Electric Infrastructure | The company reported narrowing of its net loss to Rs 11.25 crore in Q4FY21 from Rs 25.74 crore, YoY, mainly on the back of higher revenues. Total income rose to Rs 258.22 crore from Rs 231.50 crore, YoY.

Spandana Sphoorty Financial | The company has raised Rs 337.5 crore through the issuance of market-linked debentures.

Specialty Restaurants | The company reported a consolidated profit of Rs 8.43 crore in Q4FY21 against a loss of Rs 37.11 crore in Q4FY20. Revenue fell to Rs 65.42 crore from Rs 75.41 crore, YoY.

Orchid Pharma | Promoter Dhanuka Laboratories proposed to sell 32,80,115 equity shares, representing 8.04 percent of total paid-up equity via offer for sale, on June 24 and June 25.