City Union Bank Bonus Issue: June 11 is the last day for investors to buy shares of City Union Bank to qualify for its 1:3 bonus issue, as the record date has been fixed for June 12. Under SEBIs T+1 settlement cycle, shares purchased today will be credited to investors demat accounts by the record date, making them eligible to receive one bonus share for every three shares held.
More than 30 companies, including five Adani Group firms and four Tata Group companies, have fixed June 12 as the record date for dividend payouts totaling nearly 300 per share. Investors looking to qualify for these dividends must buy the shares by June 11.
Eyewear retailer Lenskart Solutions experienced a significant block deal valued at Rs 1,862 crore. Abu Dhabi Investment Authority, through its investment vehicle, sold a portion of its shares. This follows a similar stake sale by SoftBank. Despite early investors reducing holdings, Lenskart's revenue surged in the January-March quarter. The company also reported strong full-year financial performance.
Pacific Investment Management Co. warns the credit loss cycle is imminent, driven by heavy AI spending that could widen economic disparities and impact lower-quality borrowers. The firm anticipates a resurgence in defaults and significantly higher losses in leveraged and private direct lending, citing borrower strategies like maturity extensions and payment-in-kind structures.
Bond traders maintain expectations for a Federal Reserve interest rate hike by year-end, despite a softer US core inflation reading. This eased immediate pressure on the Fed to act sooner, allowing for a "wait and see" approach. The core CPI's 0.2% rise from April fell short of the 0.3% consensus forecast.
Inox India shares surged following reports of a massively oversubscribed SpaceX IPO, drawing investor attention to the Indian company as a potential equipment supplier. The stock's rally is supported by strong operational performance and expansion into new segments, though analysts advise caution due to rich valuations.
Equity mutual fund inflows experienced a significant 40% drop in May, reaching a 12-month low of 22,908 crore. This decline, the steepest since May 2023, occurred as investors reduced lump-sum investments due to escalating West Asia conflict concerns. Meanwhile, Systematic Investment Plan (SIP) flows remained robust, showing only a marginal decrease.
US forces launched fresh strikes on Iran, escalating geopolitical risks and sending oil prices up over 2%. This development, coupled with a renewed selloff in tech stocks, rattled Asian equities and Wall Street futures. Investors remain cautious, anticipating potential inflationary pressures and higher interest rates despite a softer US inflation report.
