View on market: Stay Cautious, be with quality business:

The S&P 500 dropped to session lows as Apple Inc. erased earlier gains in anticipation of a new mixed reality headset. Both tech and energy stocks pared earlier advances that had briefly pushed the S&P 500 20% above an October low, the marker of a bull market. Energy stocks, including oil majors Chevron Corp. and Exxon Mobil Corp., pared gains owing to an oil supply cut from Saudi Arabia. Elsewhere. equities fell in Europe. Meanwhile, the yield on 10-year treasuries in U.S. was trading at 3.68%. Crude was trading above $76-mark, while Bitcoin declined below 26,000-level. At 05:36 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India was down 0.14% at 18,699.5.

Economic Calendar:

  • USD : Initial Jobless Claims on 08th June, 2023
  • USD : CPI (MoM) (May) on 13th June, 2023
  • INR : Interest Rate Decision on 08th June, 2023
  • INR : Cash Reserve Ratio on 08th June, 2023

Brokerage Radar:


Buy, TP Rs 560; Near-term earnings are supported by pick up in CNG demand post price cuts and expanding margins on feedstock cost relief; Est 18% Ebitda growth in FY24E


Buy, TP Rs 10,850; Bullish on PV cycle…lot more headroom for growth; Co’s product onslaught here; Supply easing key to watch; Stable RM, SUV mix, op leverage favorable for margins; Mshare delivery & EV confidence can drive valn re-rating


Buy, TP cut to Rs 1950 from Rs 2300; Healthy content slate; improving movie release frequency; Merger complete; integration and potential synergies over the next two years; Steady capacity addition plan; to add 125 screens net in FY24

International Markets

U.S & Europe:

Particulars 05th June Chg. Chg.(%)
Nasdaq 13229.43 -11.34 -0.09
Dow 33562.86 -199.90 -0.59
FTSE 7599.99 -7.29 -0.10
CAC 7200.91 -69.78 -0.97
DAX 15963.89 -87.34 -0.55
Dow Fut.* 33574.60 11.70 0.03

Asian markets

Particulars 06th June Chg. Chg.(%)
SGX Nifty 18701.50 -23.50 -0.13
Nikkei 32350.58 133.15 0.41
Straits Times 3187.69 -1.32 -0.04
Hang Seng 19307.75 199.25 1.03
Shanghai 3239.80 7.36 0.23

ADR Watch:

Particulars 05th June  Chg.       Chg.(%)
Dr. Reddy 56.41 -0.31 -0.55
HDFC Bank 65.19 -0.29 -0.44
ICICI Bank 23.01 -0.08 -0.35
Infosys 15.40 -0.40 -2.53
Wipro 4.82 -0.13 -2.63

Commodities & Currency

Particulars Current Price Chg.(%)
USD/INR 82.52 -0.01
Brent 76.50 -0.27
Gold 1976.55 0.11
Silver 23.657 0.09

FIIs & DIIs:

Particulars 05th June 02nd June
FIIs                           -700.98 -658.88
DIIs 1195.98 581.85

News Update:

Adani Group:

The group made prepayment of margin linked share backed financing totalling $2.15. Promoters also prepaid $700 million debt taken for the Ambuja Cement acquisition. Cash balance of listed portfolio up 41.5% YoY to $4.75 billion (Rs 40,351 crore) in FY23.

Mahindra & Mahindra:

Sunrise Initiatives sells entire stake of 81.58% in Mahindra Marine to Ocean Blue Boating. Ocean Blue currently holds the balance 18.42% stake in Mahindra Marine.

SBI Cards and Payment Services:

Board approves raising of funds worth Rs. 3,000 crore through Non-Convertible Debentures (NCDs) in one or more tranches on private placement basis.

Bharti Airtel:

Special committee of directors for fund raising approve allotment of 21.01 lakh equity shares of face value Rs 5 each at a conversion price of Rs 521 to holders of foreign currency convertible bonds.

Allcargo Logistics:

Transindia Real Estate has agreed to further divest 10% stake each in five subsidiaries of Allcargo and a 100% stake in Allcargo Multimodal to Blackstone.


Company inks pact to acquire 9.09% stake in Piscis Networks with an initial investment of Rs 99.99 lakhs. It plans to increase stake in the company to up to at least 30%.

Indian Energy Exchange:

Company reported 8,251 MU overall volume in May, a gain of 8% year-on-year. The market clearing price declined 30% year-on-year to Rs.4.74 per unit. Power demand is expected to increase in coming months and supply side liquidity may improve due to enhanced coal supply, reduction in e-auction coal prices, and declining imported coal and gas prices. This will lead to competitive prices and higher clearance for Discoms & Open Access consumers.

Veranda Learning Solutions: Company’s unit Veranda RACE partnered with Talent Academy & Publications to augment its reach in Kerala. Veranda RACE is also teaming up with placement-oriented company Phire, which offers expert training for recruitment in private banking and BFSI sector.

Coal India: Government of India now owns 63.13% stake after offer-for-sale.

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