India, June 11 : Indian equity benchmarks ended slightly lower on Wednesday amid heightened volatility as investors remained cautious due to geopolitical uncertainties and continued foreign fund outflows. Although banking stocks offered support, the Nifty struggled to sustain gains and continued to face resistance near the 20-day exponential moving average around the 23,550 mark.
Market participants will closely track several stocks on Thursday following key corporate developments.
Lenskart is likely to attract attention after Abu Dhabi Investment Authority (ADIA) initiated plans to trim its holding in the eyewear retailer through a block deal valued at up to Rs 1,944 crore. The proposed transaction involves the sale of up to 4 crore shares, equivalent to around 2.3% of the company’s equity.
Tata Consumer Products will remain on investors’ radar after Chairman N Chandrasekaran reiterated the company’s long-term objective of achieving an EBITDA margin exceeding 20%, supported by improving profitability across emerging business segments.
Reliance Industries gained attention after a consortium led by its subsidiary Reliance 4IR Realty Development secured the redevelopment rights for the 101.36-acre Juhu Galli slum cluster in Mumbai’s Andheri area, one of the city’s largest urban renewal projects.
Power Finance Corporation (PFC) is in focus after receiving presidential approval for the merger of REC Ltd with the state owned lender, nearly seven years after acquiring the government’s controlling stake in REC.
Zee Entertainment Enterprises announced plans to raise at least Rs 2,300 crore in phases to support strategic expansion initiatives and reinforce its financial position.
Rajesh Exports said it will cooperate fully with a forensic audit ordered by market regulator Sebi regarding allegations of revenue inflation during the period between FY21 and FY25.
Hyundai Motor India stated that operations at its Chennai manufacturing facility are gradually normalising following supply-chain disruptions caused by a fire at a key vendor’s plant earlier this month.
Hindustan Zinc entered into a partnership with Sulfozyme Agro India under its Zinc Industrial Park initiative to promote sustainable metal recovery and develop value-added zinc-based industrial products.