Dalal Street ended on a positive note in the last session, breaking its recent losing streak thanks to encouraging global cues and rising expectations of a Reserve Bank of India (RBI) rate cut. Investors are eagerly awaiting the RBI’s policy meeting for clarity on growth and inflation outlooks.
Vinod Nair, Head of Research at Geojit Investments, noted that the market traded in a narrow range with a mildly positive bias, supported by strong US job data and easing US-China trade tensions. Mid- and small-cap stocks outperformed, boosted by better-than-expected earnings and attractive valuations.
On the corporate front, several key developments stood out:
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Adani Airports Holdings Ltd secured USD 750 million financing from a consortium including First Abu Dhabi Bank, Barclays, and Standard Chartered, backing its expansion as India’s largest private airport operator.
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Reliance Infrastructure received relief as the NCLAT tribunal stayed insolvency proceedings, providing a crucial breather amid financial challenges.
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Yes Bank saw a 2.62% stake reduction by private equity investor CA Basque Investments via open market sales, indicating portfolio adjustments.
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REC Ltd’s board approved raising up to ₹1.55 lakh crore through private placement of bonds or debentures to strengthen finances and support growth projects.
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Bharat Electronics Ltd (BEL) secured fresh orders worth ₹537 crore since mid-May, reinforcing its strong position in the defence sector.
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Power Grid Corporation acquired MEL Power Transmission Ltd for ₹8.53 crore, aligning with its strategy to expand transmission infrastructure.
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Hindustan Aeronautics Ltd (HAL) clarified progress in engine negotiations with General Electric for the LCA Mark 2 aircraft, denying reports of talks with other firms.
Overall, the market sentiment was buoyed by these corporate developments and broader economic optimism ahead of the RBI’s policy decision. Would you like a sector-wise breakdown of these updates or insights on how they might impact stock performance?
