After witnessing high volatility in the second half of the trading session on the eve of June month expiry, Indian markets are expected to kick-off July series on a tepid note following mostly negative cues from the Asian peers.

The shares of Axis Bank sank more than 2 per cent from the day’s high of Rs. 806.65 during Thursday’s trading session. This could be because the bank is mulling over raising funds to the tune of at least US$1.3 billion by means of a share sale to institutional investors.

Lupin Limited (Lupin) on Thursday announced that it has received tentative approval from United States Food and Drug Administration (USFDA) for its Mirabegron Extended Release (ER) Tablets, 25 mg and 50 mg.

SpiceJet has launched daily non-stop flights connecting India’s financial capital, Mumbai with Hong Kong. The shares of SpiceJet closed 4 per cent lower after its intraday gain of 1.5 per cent.

The stocks to watch out on June 28 include SpiceJet, SunPharma, BHEL, Prism Johnson and Max India

Sun Pharmaceutical Industries Limited has entered into an exclusive licensing agreement with a subsidiary of Chinese pharma major China Medical System Holdings (CMS) to develop and commercialise Cyclosporine A 0.09 per cent eye drops and Tildrakizumab a medication for psoriasis and psoriatic arthritis in Greater China.

KIOCL has signed memorandum of understandings (MoUs) with Glencore International AG and Steel Mont GMBH. The shares of the company rose by almost 16 per cent intraday.

The hydrocarbon engineering division of L&T has been awarded twin orders from ONGC. The company has categorised the order as large order, which mean the order value is between Rs. 2,000 to Rs. 5,000 crore.

Ahead of the expiry of derivative contracts for the month of June, Nifty Auto was up 1.37 per cent, fuelled by a unanimous surge in auto stocks led by Tata Motors and M&M on Thursday. 

The stock of Emami Limited dipped more than 5 per cent on Thursday as the market was buzzing that the Emami Group is in exploratory talks with Ultratech Cement and private equity funds to sell stakes in its cement business, valuing it at Rs. 5,000-5,500 crore.