Ahead of PM Narendra Modi's swearing-in ceremony, domestic markets ended on a record high after a drop on Wednesday. After a choppy opening, Sensex gained 330 points to

Markets close at record high after 1-day drop

Ahead of PM Narendra Modi's swearing-in ceremony, domestic markets ended on a record high after a drop on Wednesday. After a choppy opening, Sensex gained 330 points to close at record closing high of 39,831 while Nifty gained 85 points to settle above 11,900 mark led by Bharti Airtel, Yes Bank, TCS and others. Nifty midcap gained 0.8% while Nifty smallcap was up 0.5% while market breadth was in favour of advances. 

Low base and soaring global commodity prices pushed the Wholesale Price Index to 12.94% vs 10.49% in April. Economists are not very perturbed by this rising number as i

Low base and soaring global commodity prices pushed the Wholesale Price Index to 12.94% vs 10.49% in April. Economists are not very perturbed by this rising number as it also comes due to a very low base from last year's lockdown.&nbsp; There are however some concerning points in the details, Manufactured Products inflation 10.83% continues to rise adding cost pressures onto industry that is struggling to reboot. Fuel and Power inflation as well clocked in at a 37.6% as global crude prices hover around 2 year high. Fuel prices locally as well are up over Rs 6/litre since May 3. Edible oil prices up 51% which is something that stands out and has been a concern for the govt as well.&nbsp; Taking respite is food inflation internals, the index clocking in a 8.11% slightly higher than last month but vegetable inflation trend has started easing out as we enter a good monsoon period which historically relaxes the price pressure as is.&nbsp; Breaching the upper tolerance limit set by the Reserve Bank of India, the retail Consumer Price Index-based inflation soared to 6.3% in May, up from 4.23% in April, according to the government data released on Monday. The rising CPI inflation has breached the RBI's tolerance limit for the first time in six months.

Low base and soaring global commodity prices pushed the Wholesale Price Index to 12.94% vs 10.49% in April. Economists are not very perturbed by this rising number as it also comes due to a very low base from last year's lockdown.
There are however some concerning points in the details, Manufactured Products inflation 10.83% continues to rise adding cost pressures onto industry that is struggling to reboot. Fuel and Power inflation as well clocked in at a 37.6% as global crude prices hover around 2 year high. Fuel prices locally as well are up over Rs 6/litre since May 3. Edible oil prices up 51% which is something that stands out and has been a concern for the govt as well.&nbsp;
Taking respite is food inflation internals, the index clocking in a 8.11% slightly higher than last month but vegetable inflation trend has started easing out as we enter a good monsoon period which historically relaxes the price pressure as is.&nbsp;

The ride towards electric vehicles has been slower than the govt would have hoped in India. To give the EV ride some acceleration the government has modified the F

The ride towards electric vehicles has been slower than the govt would have hoped in India. To give the EV ride some acceleration the government has&nbsp;modified the FAME scheme which will make electric 2-wheeler cheaper under the new scheme. Here are the highlights-:&nbsp;
<ul>
<li>Demand incentives for electric two-wheelers will be increased 50%, to Rs15k/KWh.</li>
<li>Incentives will, however, be capped at 40% of the cost of the vehicle.</li>
<li>Energy Efficiency Services Limited (EESL) &ndash; a JV between NTPC Ltd, Rural Electrification Corp. Ltd, Power Finance Corp. Ltd, and Power Grid Corp. of India Ltd. &ndash; will aggregate demand for 300k electric three-wheelers.</li>
<li>For electric buses, nine key cities with population of more than 4 million will be targeted &ndash; Mumbai, Delhi, Bangalore, Hyderabad, Ahmedabad, Chennai, Kolkata, Surat, and Pune</li>
<li>EESL will again act as an aggregator of demand for the remaining e-buses on an opex basis. The details of implementation shall be worked out by EESL.</li>
</ul>
Only 6% of the target of 1 mn electric two-wheelers by 2022 under the&nbsp;FAME scheme has been achieved so far. The numbers are even lower for three-wheelers and four-wheelers at 3% each.

Negative newsflow hitting these trader favorites in a market that is already suffering from Monday blues. BHEL: Consolidated loss in the March quart

Negative newsflow&nbsp;hitting these trader favorites in a market that is already suffering from Monday blues.&nbsp;
<ul>
<li>BHEL:&nbsp; Consolidated loss in the March quarter at ₹&nbsp;1,034 cr, stock nearly 15% in trade.&nbsp;</li>
<li>Adani&nbsp;Group Stocks: Reports allege that NSDL&nbsp;has frozen accounts of FPIs&nbsp;that are holding large positions in Adani&nbsp;Group companies&nbsp;</li>
<li>PNB Housing: Stock takes a hit as reports suggest SEBI&nbsp;will probe the recent Carlyle deal with the PE giant taking controlling stake in the company.&nbsp;</li>
<li>Zensar: Stock slides in trade as nearly 13% equity changes hands on the exchanges</li>
</ul>

Traders betting on big stock action in Monday's trade here are the stocks on the radar-: DLF: Strong earnings coming in, Q4 profit at Rs 481 crore vs a los

Traders betting on big stock action in Monday's trade here are the stocks on the radar-:
<ul>
<li>DLF: Strong earnings coming in,&nbsp;Q4 profit at Rs 481 crore&nbsp;vs a loss last year. CLSA raises target price on the stock from Rs 300 to Rs 350, signaling a 16% upside from here.</li>
<li>Coal India: Trading at a fresh 52-week high, shareholders awaiting news as board likely to announce 20-25% additional dividend.</li>
<li>Lupin: Plant in New Jersey has been issued a warning letter by the US FDA, the facility makes up 5% of its overall sale.</li>
<li>Adani Enterprises: Forays into cement business, incorporates a fully owned subsidiary called Adani&nbsp;Cement</li>
<li>Reliance Power: Board approves preferential issue of shares and warrants to Reliance Infra at Rs 10/sh, to raise Rs 1325 cr.&nbsp;</li>
</ul>

Ethnic wear brand Manyavar, backed by Kedaara Capital is looking at issuing an IPO and has hired investment bankers for raising Rs 2000 cr as per reports. Own

Ethnic wear brand Manyavar, backed by Kedaara Capital is looking at issuing an IPO&nbsp;and has hired investment bankers for raising Rs 2000 cr as per reports.&nbsp; Owned by Kolkata-based ethnic wear heavyweight Vedant&nbsp;Fashion,&nbsp;the apparel retailer was founded in 1999 and has over 600 retail stores across the nation. As per reports&nbsp;Kedaara Capital acquired around a 10% stake in Vedant Fashions in August 2017 for around Rs 400 crore-Rs 450 crore.&nbsp;

The mega LIC IPO is looking to attract anchor investors worth $3.4 billion as per reports. Top govt officials told Bloomberg that the govt is likely to i

The mega LIC&nbsp;IPO is looking to attract anchor investors worth $3.4 billion as per reports.&nbsp; Top govt officials told Bloomberg&nbsp;that the govt is likely to invite over 2 dozen anchor investors into the proposed IPO&nbsp;for India's largest insurer. The DRHP&nbsp;for the issue is likely to be filed within this year though the company will have to go through structural changes to comply with listing norms. The insurer will be constituting a board and also revamping their accounting practices as per reports.&nbsp; LIC&nbsp;which is owned 95% by the government has over ₹35 lakh&nbsp;crore&nbsp;of assets&nbsp;under management.&nbsp;

Baba Ramdev owned edible oil firm Ruchi Soya, has filed a draft document with SEBI to launch a follow-on public offer (FPO) to reduce promoter holding as per norms

Baba Ramdev&nbsp;owned edible oil firm Ruchi Soya, has filed a draft document with SEBI to launch a follow-on public offer (FPO) to reduce promoter holding as per norms and is likely to&nbsp;raise up to ₹4,300 crore&nbsp;via the issue.&nbsp; The promoter holding in the company is over 98%, which violates the norms of public listed companies as per the market regulator.&nbsp;As per the SEBI listing rules the promoters can not hold over 75% stake in a listed company. Baba&nbsp;Ramdev&nbsp;led Patanjali&nbsp;has three years to reduce stake in Ruchi&nbsp;Soya.&nbsp; Patanjali acquired Ruchi Soya, which is listed on stock exchanges, through an insolvency process for ₹4,350 crore&nbsp;in 2019.

With prices of petrol and diesel climbing steeply, Oil Minister Dharmendra Pradhan on Sunday agreed that the rates were a problem.But the BJP leader said said

With prices of petrol and diesel climbing steeply, Oil Minister&nbsp;Dharmendra Pradhan&nbsp;on Sunday agreed that the rates were a problem. But the BJP leader said that since government expenses are up due to Covid relief measures, &ldquo;the Centre is saving money to spend on welfare schemes&rdquo;.
&ldquo;I accept that fuel prices are pinching consumers, there&rsquo;s no doubt about this. But over Rs 35,000 crore has been spent on Covid vaccines in a year. Rs 1 lakh crore has been spent on Pradhan Mantri Gareeb Kalyan Yojana in order to provide eight months&rsquo; ration to the poor. A few thousand crores of rupees have also been transferred to farmers&rsquo; bank accounts under PM Kisan&hellip;In such dire times, we&rsquo;re saving money to spend on welfare schemes,&rdquo; Pradhan said, speaking to the media.

Shyam Metalics public issue is likely to get a strong response as its shares are quoting at a premium of almost 50% in the grey markets. The IPO price band is

Shyam Metalics public issue is likely to get a strong response as its shares are quoting at a premium of&nbsp;almost 50% in the grey markets. The IPO&nbsp;price band is fixed at ₹303-306. All details below:-
IPO Subscription&nbsp;Date - Jun 14 to 16, 2021
IPO Price -&nbsp;₹303 to ₹306 per&nbsp;equity share
Lot Size - 45 Shares
Minimum Investment - ₹13,635
IPO Listing Date - Jun 24, 2021
&nbsp;

Hyderabad-based Dodla Dairy, which is the third-largest dairy firm in India, will open its IPO for subscription on June 16. The IPO worth ₹520 crore

Hyderabad-based Dodla&nbsp;Dairy, which is the third-largest&nbsp;dairy firm in India, will open its IPO&nbsp;for subscription on June 16. The IPO&nbsp;worth ₹520 crore&nbsp;will help the dairy company&nbsp;strengthen its footprint in the southern Indian states.
Here are the details:-
IPO Subscription&nbsp;Date - Jun 16 to 18, 2021
IPO Price -&nbsp;₹421 to ₹428&nbsp;per&nbsp;equity share
Lot Size - 35 Shares
Minimum Investment - ₹14,735
IPO Listing Date - Jun 28, 2021

Krishna Institute of Medical Sciences (KIMS), one of the largest corporate healthcare groups in Andhra Pradesh and Telangana, is all set to launch its IPO on

Krishna Institute of Medical Sciences (KIMS), one of the largest corporate healthcare groups in Andhra Pradesh and Telangana,&nbsp;is all set to launch its IPO&nbsp;on June 16.&nbsp;The company operates nine multi-specialty hospitals. The number of KIMs' beds is 2.2 times of the second-largest hospital in Andhra Pradesh and Telangana. Details here:-
IPO Subscription&nbsp;Date - Jun 16 to 18, 2021
IPO Price -&nbsp;₹815 to ₹825&nbsp;per equity share
Lot Size - 18 Shares
Minimum Investment - ₹14,670
IPO Listing Date - Jun 28, 2021
&nbsp;
&nbsp;

Focus on big IPOs this week, Sona Comstar in the spotlight after raising a whopping Rs 2498 cr from anchor investors. Is it a good investment for you her

Focus on big IPOs&nbsp;this week, Sona&nbsp;Comstar&nbsp;in the spotlight after raising a whopping Rs 2498 cr from anchor investors. Is this supplier to Tesla a good investment for you here are the details you need to make a decision-:
About Sona Comstar
<ul>
<li>Gurugram-based automotive components manufacturer</li>
<li>PE giant Blackstone currently owns 65% stake&nbsp;</li>
<li>Industry leader in highly specialised "mission-critical" auto components</li>
<li>Backed by Indian promoter group Sona Group, erstwhile owner of Sona Koya&nbsp;</li>
<li>Headed by Chairman Sunjay Kapur, the Group merged with Chennai based Comstar in 2019</li>
</ul>
IPO Details&nbsp;
<ul>
<li>Issue Dates: June 14-16</li>
<li>Issue Price:&nbsp;Rs 285-291 per equity share</li>
<li>Minimum Bid:&nbsp;51 shares&nbsp;</li>
<li>Maximum Bid: 14 lots of 51 shares&nbsp;</li>
<li>Cost to Retail of 1 lot:&nbsp;Rs 14,841@ Rs 291/share</li>
<li>Issue Size: Looking to raise&nbsp;Rs 5,550 crore&nbsp;</li>
</ul>
 Financials In Focus&nbsp;
<ul>
<li>Raised Rs 2,498 crore through anchor investors</li>
<li>Third largest anchor investment in an Indian IPO</li>
<li>Anchor investment from 42 institutional investors, including 24 foreign portfolio investors</li>
<li>Anchor investors issued 8.6 crore shares at&nbsp;Rs 291 per share.</li>
<li>Govt of Singapore, Fidelity, Goldman Sachs among anchor investors</li>
<li>Big bets on EV, 14% revenue&nbsp;from pure battery-electric vehicles (BEVs)</li>
<li>27% revenue from&nbsp;hybrid and micro-hybrid vehicles</li>
</ul>

Jeff Bezos auctioned off the third seat on his spacecraft Blue Origin for $28 million, the winner will be zipping off to outerspace on July 20 with Bezos

Jeff Bezos&nbsp;auctioned off the third seat on his spacecraft Blue Origin for $28 million, the winner will be zipping off to outerspace&nbsp;on July 20 with Bezos&nbsp;and his brother.&nbsp; The winning bidder,&nbsp;whose name wasn&rsquo;t released,&nbsp;will fly to the edge of space with the&nbsp;Amazon&nbsp;founder and his brother Mark on New Shepard rocket.&nbsp; The world's richest man auctioned the seat on the spacecraft to donate to charity.&nbsp;The auction&rsquo;s proceeds will be donated to Blue Origin&rsquo;s education-focused nonprofit Club for the Future, which supports kids interested in future STEM careers. 
The flight is scheduled for July 20, which is significant as it is also the same day as the Apollo 11 landed on the moon.&nbsp;

Dewan Housing Finance Corporation Limited (DHFL) will stop trading on the stock exchanges from Monday, June 14. NSE & BSE released a circular citing

Dewan Housing Finance Corporation Limited (DHFL) will stop trading on the stock exchanges from Monday, June 14.&nbsp; NSE&nbsp;&amp; BSE&nbsp;released a circular citing the bankruptcy resolution that stated that the&nbsp;worth of equity shares is zero.The Mumbai bench of the National Company Law Tribunal (NCLT) has allowed Piramal Group to take over DHFL under the bankruptcy code for as low as Rs 37,500 crore against a claim of close to Rs 85,000 crore. DHFL had informed the exchanges on June 8 regarding approval of the resolution plan by the National Company Law Tribunal (NCLT), Mumbai Bench "which provides for delisting of equity shares of the company".

India's second richest man Gautam Adani is now betting on a new business to increase his already swelling coffers. The Adani Group has announced their fo

India's second richest man Gautam&nbsp;Adani&nbsp;is now betting on a new business to increase his already swelling coffers. The Adani&nbsp;Group has announced their foray into the cement business.&nbsp; Adani's&nbsp;flagship company Adani&nbsp;Enterprises informed the exchanges that it has incorporated a wholly-owned subsidiary, Adani Cement Industries Limited (ACIL), to manufacture all types of cements.&nbsp;
Adani&nbsp;who is now the world's 14th richest man, added&nbsp;$43 billion in the first six months of 2021, the fastest rise for any individual in the world, according to the Bloomberg Billionaires&rsquo; Index. Adani&nbsp;Enterprise played a large role in that rise with the stock moving 250% higher in the last six months.&nbsp;

Edtech platform Byju's has raised $350 million dollars valuing it at $16.5 billion dollars, making it India's most valuable start up. The learning portal has

Edtech&nbsp;platform Byju's&nbsp;has raised $350 million dollars valuing it at $16.5 billion, making it India's most valuable start up. The learning portal has doubled it's valuation in 18 months from $8 billion in January 2020 when it raised funds from Tiger global. The online learning platform has raised funds from&nbsp;Zoom's founder Eric Yuan along with&nbsp;UBS, private equity giant Blackstone, Abu Dhabi state fund ADQ&nbsp;and others. With this fresh round of funding Byju's&nbsp;has raised over $1.5 billion in the last 18 months.&nbsp; Byju Raveendran&nbsp;has been on an acquisition spree in the last year with&nbsp;Whitehat Jr, competitor Toppr, offline test preparation firm&nbsp;Aakash. Raveendran&nbsp;recently said the platform's revenue grew by 100% in the financial year ended March 2021. This would translate into revenue of around Rs 5,600 crore, compared to Rs 2,800 crore in the year before.
The current valuation of $16.5 billion outpaces PayTM&nbsp;from the pole position of India's most valued startup.&nbsp;

India's foreign exchange kitty has swelled up for a record high, crossing $600 billion for the first time ever. As per data from the RBI forex reserves grew by $6.

India's foreign exchange kitty has swelled up for a record high, crossing $600 billion for the first time ever.&nbsp; As per data from the RBI forex reserves grew by $6.8 billion for the week ended June 4 putting the total at $605 billion. This record high reserve level puts India amongst the top 5 countries with the highest forex&nbsp;kitty.&nbsp;
The forex&nbsp;war chest is&nbsp;enough to cover 16 months of imports, giving India ample immunity in case of any global uncertainty. From the time the pandemic started India's forex&nbsp;reserves has grown from&nbsp; by over a $123 billion from $477 billion in March 2020 to te current level of $600 billion. In fact since 2017 when RBI&nbsp;Governor Shaktikanta Das&nbsp;took over the pace of accumulation of reserves has been steadily rising.&nbsp;

The United Nations Development Programme has deemed India's Aspirational Districts Programme as very successful and is recommending other nations to adopt it

The United Nations Development Programme has deemed India's&nbsp;Aspirational Districts Programme&nbsp;as very successful and is recommending other nations to adopt it as well.&nbsp;
The report handed over on Friday by UNDP India Resident Representative Shoko Noda to NITI Aayog Vice-Chairman Rajiv Kumar and CEO Amitabh Kant lauds the plan as a very successful model of local area development, and one &ldquo;that should serve as a best practice for several other countries where regional disparities in development status persists."
The aspirational district programme was launched in 2018 across 112 aspirational districts in 28 states. The UNDP&nbsp;noted that these districts have experienced more growth and development in the last three years than ever before.
&nbsp;
&nbsp;

Three years after the Rs 1 lakh crore IL&FS scam was unearthed the Economic Offences Wing of Chennai has finally arrested the then Chairman Ravi Parthasarathy.

Three years after the Rs 1 lakh crore IL&amp;FS scam was unearthed the Economic Offences Wing of Chennai has finally arrested the then Chairman&nbsp;Ravi Parthasarathy.&nbsp;
Economic Offences Wing asserted that&nbsp;IL&amp;FS group which had over 350 group companies was used as a "vehicle to perpetrate fraud" by the then management headed by Ravi Parthasarathy.
It was in July 2018 that the IL&amp;FS&nbsp;crisis surfaced as the firm defaulted on debt payments, the firm collapsed in August 2018 as it defaulted on bond payments due to investors. By this point the total collected debt on the company was over Rs 90,000 cr.&nbsp;

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Business

Inflation soars to 12.9%, Edible Oil prices up 51%

Soaring Prices: May WPI inflation comes in at 12.94%

Govt gives a big EV push, FAME incentives increased

Adani, BHEL, PNB Housing: Why these stocks are taking a big hit

Stock Radar: 5 stocks traders are buzzing about

Manyavar dresses up for Dalal Street, eyes IPO

LIC IPO: Govt likely to seek ₹25,000 cr from anchor investors

Baba Ramdev's Ruchi Soya files FPO to raise ₹4,300 crore

'Saving money for welfare schemes': Pradhan defends high fuel price

IPO Radar: Shyam Metalics' strong grey market premium

IPO Radar: India's third largest dairy firm Dodla Dairy

IPO Radar: Krishna Institute of Medical Sciences

IPO Radar: Sona Comstar, investors bet big on this Tesla supplier

$28 million gets you a seat next to Bezos on spacecraft

DHFL shares suspended for trade by BSE, NSE

Cementing gains, Adani forays into a new business

Byju's value doubles to $16.5 bn to become India's most valued startup

India's forex reserves at record high of $600 billion

UNDP praises India for district plans, says it's immensely successful

Ravi Parthasarathy, king pin of IL&FS scam arrested

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