Indigo, Cochin Shipyard and SAIL shares may rise on Monday, the first day of the week
The Kolkata branch of NCLT has approved the resolution plan of Jupiter Wagons for acquisition of controlling stake in Stone India under IBC. Stone India will become a subsidiary of Jupiter Wagons after the implementation of this plan. Navy has announced Cochin Shipyard as L1 bidder for upgrading a ship. Its estimated cost is Rs 300 crore. PI Opportunities Fund-I Scheme-II will buy additional stock in TVS Credit, a subsidiary of TVS Motor Company. LIC has bought an additional two per cent stake in Steel Authority of India (SAIL). The deal has been done through open market transactions. In this way, LIC’s stake in the company has now reached 8.687 percent, which was earlier 6.686 percent.
Which stocks will remain volatile
According to the momentum indicator MACD, the shares of Max Healthcare, KCP Sugar, Sequent Scientific and Kesoram Industries may gain momentum on Monday. On the other hand, CMS Info Systems, IDFC First Bank, Bank of Baroda and Rama Steel Tubes are likely to decline.
How will the direction of the market be decided?
Macroeconomic data such as industrial production (IIP) and inflation will decide the direction of the stock markets this week. Apart from this, the decision of the US Central Bank Federal Reserve on the interest rate and the global trend will also be important for the local markets. Analysts say that the activities of foreign funds will also be important from the point of view of the stock market. All eyes are now on the outcome of the US central bank meeting for indicators, which will come on June 14. The European Central Bank and the Bank of Japan will also announce their policy decisions in later sessions. On the macroeconomic front, market participants will be watching the IIP, consumer price index based inflation and wholesale inflation data this week. Apart from this, all eyes will be on the progress of monsoon.