 "Stock market today: Shares of Zee Entertainment, Delta Corp, Bandhan Bank, IndiGo in focus")
The GIFT Nifty index was up 44 points or 0.19 per cent at 23,580.5 around 8:30 am on Tuesday. It hinted at a positive start for Dalal Street. The India VIX, and indicator of volatility in the stock Market, was up 0.88 points or 0.66 per cent at 14.06.
Global cues were largely positive. In the US, the Dow Jones clocked in a one month-high, while Nasdaq slipped over 1 per cent because of a drop in Nvidia shares. Asian markets traded higher.
Ahead of the stock market opening on June 25, here’s a look at stocks to watch.
Zee Entertainment Enterprises: Zee Media Kenya Limited, a wholly owned step-down subsidiary company of the Company has been incorporated in Kenya. This entity is incorporated with the objective of pursuing Broadcasting Business.
Delta Corp: Delta Corp has acquired 11.76 per cent of the equity share capital in Harborpeak Real Estate Private Limited, as part of the real estate development platform. The acquisition of 11.76 per cent stake cost Rs 1.3 crore.
Bandhan Bank: The Reserve Bank of India has appointed Arun Kumar Singh, former chief general manager of the central bank, as an additional director on the board of Bandhan Bank. The appointment is for a period of one year. Bandhan Bank is in the midst of a leadership transition and a forensic audit of its government guaranteed loan portfolio.
Borosil: The company announced the opening of its QIP on June 24, with a floor price set at Rs 331.75 per share. In January, the board had approved raising funds of up to Rs 250 crore through QIP.
Impact Shorts
More ShortsIndiGo: The budget carrier has doubled its frequency between Jeddah and Mumbai. IndiGo will now operate 14 weekly flights starting August 15. With these additions, it will operate 42 weekly flights to Jeddah from five cities in India.
Prestige Estates Project: The Bengaluru-based real estate developer has chosen four investment banks (Kotak Mahindra Capital, JP Morgan, JM Financial, and CLSA) as advisors for its significant Qualified Institutional Placement (QIP), aiming to raise up to Rs 5,000 crore. This move is reportedly expected to take place in July or August of this year.
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