Wall Street stocks closed higher as the yen hit a fresh 20-year low against the dollar on anticipation of further US monetary tightening. Oil prices rose ahead of US oil inventories data on Wednesday. In Asia, stocks rose in Japan, South Korea, Hong Kong, Australia and Shanghai. On Tuesday, the Sensex fell 567.98 points, or 1.02%, to close at 55,107.34, while the Nifty50 fell 153.20 points to close at 16,416.35.
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The RBI is due to announce its policy outcome today, which will impact interest rate-sensitive stocks such as banks, NBFCs, homebuilders, auto and real estate companies. A rate hike of 40-50 basis points is expected today.
Hindustan Copper: The copper mining company resumed mining operations at Surda mine in Ghatshila, Jharkhand on June 7th. The reopening follows Jharkhand’s renewal of the lease and the receipt of the required environmental clearance from the Ministry of Environment.
RITES: Transportation infrastructure consultancy and engineering company signed a Memorandum of Understanding (MoU) with Grands Trains. DU Senegal (GTS-SA), a railway company of Senegal, for technical cooperation in the railway sector.
Future Group Stock: E-commerce major Amazon has sent a notice to Future Group’s promoters, urging them not to enter into transactions with Reliance Industries
SBI: The State Bank of India, the country’s largest lender, doubled lending to the infrastructure segment, which includes roads, ports and electricity, in FY22 as private companies seek credit again.
Cineline India: Cineline India Ltd, which operates multiplex chain MovieMax, said its promoters would subscribe for ₹35.1 crore of convertible warrants. Following this preferential issue, the promoters’ stake in Cineline India would increase from the current 67 percent to 69.6 percent.
Indian Hotels: Indian Hotels Company Limited (IHCL) has announced the signing of an 88-room Vivanta hotel in Jammu, Jammu and Kashmir. Located in the heart of the city, the existing hotel will be upgraded to the Vivanta brand after the renovation.
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