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The stock market is expected to open in red on Monday morning. From big orders to acquistions to dividend news to block deals, take a look at why stocks of Asian Paints, Adani Green Energy, Suzlon Energy, Adani Green Energy, Tata Motors, Mphasis, Nazara Tech, and RailTel Corp are likely to be in focus read more
 "Here's why shares of Adani Green Energy, Suzlon, Tata Motors, Nazara Tech, and Asian Paints are in focus")
The Bombay Stock Exchange. PTI
The stock market is expected to open in red on Monday morning, according to GIFT Nifty trends. GIFT Nifty, which provides an indication of how the benchmark Nifty 50 index might perform, was down 0.09 per cent or 20.5 points at 23,309.5.
Global cues remain largely negative. The United States labour market is still tight. This has negatively affected expectations of interest rate cuts by the Federal Reserve. A snap election call in France sparked wider political concerns and weighed on the euro. Asian markets sank on Monday.
Before the stock market in India opens, here’s a look at stocks that can keep the bourses buzzing.
Asian Paints- The ex-dividend date for Asian Paints’ final dividend of Rs 28.15 is June 11. On this date, the stock will trade without the dividend. To receive the final dividend of Rs 28.15 per share from Asian Paints, investors must purchase the stock before the ex-dividend date, meaning they need to be holding the shares at the end of the trading day on June 10.
Suzlon Energy- Marc Desaedeleer, an independent director on the board of Suzlon Energy, resigned from the company’s board on Saturday. In his resignation letter, Desaedeleer stated that he was very pleased with the company’s operational and financial performance over the last 18 months. However, he had concerns regarding compliance and transparency.
Adani Green Energy- Adani Green Energy plans to invest over $1 billion (Rs 8,351 crore) in setting up wind energy projects in Sri Lanka. This investment would represent the island nation’s largest foreign direct investment and the biggest power project to date, according to a report by PTI.
Nazara Technologies- Nazara Technologies notified the stock exchanges about the completion of the acquisition of Ninja Global FZCO, a company based in the United Arab Emirates (UAE), by its subsidiary Nodwin Gaming. The acquisition aims to expand the company’s ability to offer solutions to publishers and brands in the Middle East and Turkey region.
RailTel Corporation- RailTel Corporation has been hired to handle an IT project for the Supreme Court of India. This involves setting up and maintaining ICT infrastructure for the Supreme Court’s Data Centre, with a project value of Rs 81,45,64,548 (including tax). The project is expected to be completed by August 31, 2024.
Mphasis- Blackstone is planning to sell a 10.6 percent stake in IT company Mphasis Ltd through block deals at a base price of Rs 2,350 per share, according to CNBC TV-18, citing sources. The base price represents a 5 percent discount from the last closing price. The initial transaction is valued at Rs 4,700 crore, as reported by multiple sources familiar with the matter. There is also a possibility of an upsize option, which could increase the stake sale to 15.1 percent, potentially raising the total deal value to Rs 6,697 crore.
Tata Motors and Tata Motors DVR- Tata Motors has declared a final dividend and a special dividend of Rs 3, while Tata Motors Ltd - DVR declared a special dividend and a final dividend of Rs 3.1. The shares will trade ex-dividend on June 11, meaning investors who want to be eligible for the monetary reward must be holding the shares at the end of the trading day on June 10.
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