Stock Market Today: In early Tuesday trades, Nifty futures on the Singapore Exchange increased 30 points to 18,365.5, signalling a good start for the Indian benchmark. On Monday, the Nifty 50 closed 111 points higher at 18,314 while the BSE Sensex closed 234 points higher at 61,963.
Adani Power to challenge RoC penalty
The Registrar of Companies (RoC), Ahmedabad, issued an order that imposed penalties on three top executives for alleged violations linked to related party transactions during a three-year period until FY20. Adani Power Ltd. will contest the ruling. Three senior Adani Power executives, including the company’s chairman Gautam Adani, were penalised by the RoC in an order that was issued on May 16.
The order, which was posted on the ministry of corporate affairs website, stated that the three officials had been ordered to pay a penalty of Rs. 75,000 apiece within three months using their own funds, but they had an opportunity to appeal the decision within 60 days.
Asia shares cautiously higher on ‘productive’ US debt talks
After President Joe Biden and House Speaker Kevin McCarthy claimed to have had an effective conversation over the debt ceiling, US equities futures increased.
The cautiously optimistic but tempered mood spread to Asian stocks, with benchmarks in Australia, South Korea, and Japan beginning higher on Tuesday. Investors are still on edge despite Biden’s claim that he and McCarthy had agreed that default was not an option in the ongoing negotiations. An index of Asian shares also jumped by 0.3%, as did contracts for the S&P 500 and the Nasdaq 100.
Concern in Asia is rising over China’s sluggish post-pandemic recovery, which is hurting the price of important commodities like iron ore and copper. Recently, both have fallen in the market.
Stock Market Today: Stocks in focus
Today’s attention will be on the stocks of Coal India, BPCL, Adani Power, Glenmark Pharma, and Zed, among other companies. Among the businesses scheduled to release quarterly profits today are JSW Energy, Akzo Nobel India, Amara Raja Batteries, Ashok Leyland, Bajaj Electricals, Biocon, CMS Info Systems, Dishman Carbogen Amcis, Dixon Technologies (India), NMDC, TTK Healthcare, and Unichem Laboratories.
Disclaimer: (This piece of information is purely informational. It is important to note that offers, discounts, and/ or any other scheme/ information/ statistics must be personally verified by the readers from the respective sources. Readers are advised to invest or purchase solely at their own risk. DNP News Network Private Limited, website or the writer doesn’t validate the offers in any context. We will not be liable for any financial or other losses.)
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER
