Indian equity markets are expected to begin the new trading week on a positive note on June 22, supported by gains in Gift Nifty. At around 7:30 a.m., Gift Nifty was trading at 24,139.50, up 91 points or 0.38%, indicating a firm opening for domestic equities.
The positive trend comes despite ongoing geopolitical tensions globally. Amid continuing conflict in the Middle East and concerns over energy supplies, crude oil prices have remained below $80 per barrel. Market participants will also closely track the progress of the monsoon in India, which could influence market sentiment in the coming days.
According to experts, rainfall during June has remained significantly below normal levels so far. A prolonged slowdown in monsoon progress could affect kharif crop sowing, food inflation and rural demand. Investors are therefore expected to monitor weather-related data closely.
Reliance Industries will remain in focus after its subsidiary Jio Platforms filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The proposed issue includes a fresh issue of 270 million equity shares.
Tata Motors is also likely to attract attention after its commercial vehicle business received orders for more than 3,400 electric commercial vehicles, including small commercial vehicles, trucks and electric buses.
Rail Vikas Nigam Limited (RVNL) has secured a contract worth approximately ₹2,977 crore from NMDC. The project involves the development of a modern blending yard and stockpile facilities in Visakhapatnam.
Power Mech Projects has received an order worth ₹1,008.9 crore for a 1,600 MW thermal power project to be established in West Bengal.
Sun Pharmaceutical Industries has decided to acquire a 100% stake in Inovcare Lifesciences in a deal valued at approximately ₹271.2 crore.
Deep Industries has secured a three-year contract from ONGC to provide gas compression services in Assam. The estimated value of the project is ₹83.81 crore.
Bharat Forge has signed an agreement worth ₹425 crore with the Ministry of Defence, Government of India, for the supply of gas turbine generators for Indian Navy warships.
Kirloskar Oil Engines has received a major order from HyperNext, a company operating in the data centre infrastructure sector. Goodluck India’s defence unit has also secured a defence order worth ₹255 crore.
