Mumbai, June 10, 2024 - The Indian stock market is expected to open positively, according to the GIFT Nifty, indicating a favorable start for domestic indices.
On Friday, the NSE Nifty 50 closed at 24,620.20, up 77.70 points (0.32%), and the BSE Sensex closed at 80,998.25, up 260.74 points (0.32%). Several companies are making headlines, including Reliance Infrastructure, which is targeting a Rs 5,000 crore opportunity in its defense vertical over the next 7-10 years.
LIC's Managing Director, Sat Pal Bhanoo, has been appointed as CEO and MD for three months. Infosys has closed pre-show cause notice proceedings involving a GST amount of Rs 32,403 crore. Tata Steel UK's exports to the United States may face disruption due to trade agreement technicalities.
Aditya Birla Group's paints venture has filed an antitrust complaint against Asian Paints. Suzlon Energy may see a block deal of around 20 crore shares for Rs 1,300 crore. HDFC Bank's CEO, Sashidhar Jagdishan, is named in a complaint. Lupin received tentative approval for Oxcarbazepine ER tablets. Nazara Technologies completed the acquisition of Smaaash Entertainment for Rs 126 crore.
The positive outlook is driven by the GIFT Nifty, with specific stocks like Reliance Infrastructure, Infosys, and Suzlon Energy drawing significant attention. Investors should monitor these developments for potential market impacts.