TVS Motors in news amid acquisition, Interglobe Aviation declines amid stake sale news

Indian Markets:

• Domestic equity benchmarks experienced a refreshing rebound on Monday, ending a two-day losing streak.
• The positive performance of global markets contributed to the rebound.
• The Nifty index settled just above 18,600 after trading within a narrow range of 18,560 and 18,630. The day’s trading showcased a thrilling tug-of-war between bulls and bears.
• Investors are eagerly anticipating key events scheduled for the week, including the US Federal Open Market Committee (FOMC) meeting, the European Central Bank (ECB) rate decision, and India’s Consumer Price Index (CPI) and Index of Industrial Production (IIP) data.
• CPI inflation falls in to 4.25 percent in May 2023 whereas IIP rises by 4.2 percent in April 2023.
• IT, realty, and media stocks gained traction during the day. Banks, financials, and pharma stocks, on the other hand, took a back seat.

Global Markets:

• Markets in Europe advanced while Asian stocks ended mixed on Monday as investors return from a strong week and look forward to major central bank meetings scheduled ahead.
• The U.S. Federal Open Market Committee (FOMC) takes place on June 13-14, the European Central Bank meets on Thursday, and the Bank of Japans meeting will conclude on Friday.
• US indices ended marginally higher on Friday as a Tesla rally failed to galvanize the broader market on the eve of the Federal Reserves policy meeting and inflation data next week.

Stocks in Spotlight:

• TVS Motor Company witnessed a modest 0.16% rise in its stock. The company announced that its subsidiary, TVS Motor (Singapore) Pte, has recently entered into an agreement to further enhance its involvement in the electric mobility sector. The agreement entails the acquisition of an additional 25% stake in Swiss E-Mobility Group (Holding) AG (SEMG), headquartered in Switzerland.  
• Interglobe Aviation, the parent company of IndiGo, experienced a decline of 1.93 percent on June 12 due to reports of an upcoming stake sale by co-founder Rakesh Gangwal’s family. The reports indicated that the Gangwal family plans to offload a 5-8 percent stake in the company. As of the end of March, the Gangwal family already held a 16.2 percent stake in the airline. Despite this development, IndiGo’s stock has shown positive performance throughout the year, gaining 17 percent thus far.
• Go Fashion witnessed a significant decline of 5 percent on June 12 following a transaction where an 11.5 percent stake was sold at Rs 1,136 per share. This selling price represented a discount of nearly 5 percent compared to the closing price on June 9. Reports from CNBC-TV18 on June 11 revealed that Sequoia Capital, a prominent investor, was in the process of restructuring and looking to sell up to a 10.18 percent stake in Go Fashion. The deal was estimated to be valued at around Rs 705.5 crore.

News from the IPO world🌐

• Logistics firm Western Carriers files for IPO papers with SEBI
• Ola Electric to kick off investor meet on IPO plans
• Valiant Lab files for draft papers with SEBI

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