Latest Stock Market News

"However, we expect consensus profit margin forecasts to fall which will lead to downward EPS revisions whether or not the economy falls into recession." Earnings season starts of July 15 and expectations are being marked lower given high costs and softening data.

The bank added that the merger is subject to several statutory and regulatory approvals, including those from the Reserve Bank of India, Competition Commission of India, the National Company Law Tribunal, and the respective shareholders and creditors of the companies.

"The shares of HDB Financial have fallen nearly 50% from the peak of ₹1,200 hit in the early half of 2020; this is largely due to the lagging financial performance and the regulatory overhang," said Rahul Thalia, director, Sarffin Financial Advisors. "The shares had also risen due to expectations that an IPO was in the offing but the proposed merger has also cast a doubt over those plans."

The investors said in a June 29 letter to the Sebi chairman that news about the potential acquisition had been reported in the press and was doing the rounds on social media for more than a month before the deal was announced.

A British Virgin Islands court ordered the liquidation of Three Arrows Capital earlier this week. The fund, founded by former Credit Suisse traders Zhu Su and Kyle Davies, managed an estimated $10 billion of assets as recently as March, according to blockchain analytics firm Nansen. The law firm Latham & Watkins is representing Three Arrows in the US bankruptcy.

Vedanta Foxconn JV is among three companies that have applied for setting up semiconductor manufacturing units in the country. Vedanta has also applied for setting up a display fabrication plant to make screens that are used for display in electronic devices.

The final six months of 2022 “shouldn’t be as ugly as the front half of the year, but it won’t be pretty,” JPMorgan Chase & Co. rates strategists led by Alex Roever said in a note. In their view, the ongoing battle between inflation and recession risks will result in yields moving up from their current levels while the Treasury curve flattens.

"Investors are advised to stay put and in fact, use volatility to accumulate quality businesses at good prices in this month. One can invest 50% at current levels and the remaining 50% can be invested if the Nifty corrects down to 15,200 in July. A breach of 15,800/15,930 resistance area can push the Nifty upwards of the 16,200-16,500 zone."

The hedge fund was already suffering on account of the current market conditions and its investment in Terra Luna, which is almost worthless compared to its investment.The leveraged Gbtc trades might have been the last straw for the hedge fund when the positions were liquidated. In simple terms what this means is that the hedge fund might not be able to pay back the loans it had taken.

From the data perspective, Call open interest for the coming weekly settlement is visible at 16,000 strike while the Put base is placed at ATM 15600 strike. Hence positive bias should continue till Nifty is sustaining above 15,600 levels and it may attempt towards 15900/16000 levels in coming sessions.