Market Bizzz

Sebi Chairman Tuhin Kanta Pandey announced that the NSE IPO faces no remaining obstacles, though he refrained from providing a specific timeline. He clarified that the ownership structure of clearing corporations is not hindering the IPO. Pandey also mentioned NSE is resolving legal matters, involving payments and case withdrawals, while Sebi is proceeding cautiously with the ‘T+0’ settlement period.

Biocon, a leading biopharmaceutical company, successfully raised Rs 4,500 crore through QIP. This marks their first equity funding since 2004. The QIP saw strong interest from domestic and international investors. The raised capital will be used to purchase debentures and repay borrowings. Kotak Mahindra Capital, BofA India Securities, and Goldman Sachs (India) Securities managed the QIP.

Vodafone Idea shares will be in focus on June 19 after it announced a partnership with AST SpaceMobile to launch satellite-based mobile connectivity in India. The tie-up aims to bring Direct-to-Device (D2D) broadband services using standard mobile phones, supporting the Digital India vision and improving access in remote and underserved areas.

Deepak Shenoy of Capital Mind remains optimistic about India’s long-term investment potential, citing a strong economy and controlled inflation. He acknowledges near-term market uncertainty and geopolitical tensions impacting crude oil prices, but believes India can manage current levels. While OMCs may experience margin volatility, Shenoy suggests focusing on long-term growth rather than short-term gains in the Indian market.

Kotak Institutional Equities’ Chief Economist, Suvodeep Rakshit, anticipates headline inflation to remain between 3-3.5% for a prolonged period, averaging around 3.5% for FY26. While early monsoon onset is positive, rainfall data shows a deficit. Urban consumption remains weaker than rural, but a cyclical recovery is expected with government spending and policy easing.

UGRO Capital is set to acquire Profectus Capital Private Limited for Rs 1400 crore. This all-cash deal will boost UGRO’s business by 30%. It will also add Rs 150 crore to annual profits. The acquisition will be funded through a rights issue and convertible debentures. Profectus, an MSME lender, will become a wholly-owned subsidiary.

Polycab India has bagged a significant deal. It is a Rs 6,447.54 crore contract from Bharat Sanchar Nigam Limited. This is under the BharatNet project. Polycab will be the Project Implementation Agency. They will handle network development in Karnataka, Goa, and Puducherry. The project includes construction and maintenance. Analysts predict a potential upside for Polycab shares.

Vedanta plans to sell shares of Hindustan Zinc for Rs 7,500 crore through block deals. The shares may be offered at a discount. DAM Capital and Citi will manage the transaction. Hindustan Zinc’s board has approved a major expansion plan. This includes a new zinc metal complex in Rajasthan. The project requires an investment of Rs 12,000 crore.

A White Marubozu is a bullish candlestick pattern in technical analysis. It occurs when the opening price is the lowest for a given period, and the closing price is the highest.

When the closing price rises above the VWAP, it signifies that the closing price is higher than the average price at which it was traded throughout the day, with the average being weighted by trading volume.