Asian stocks were muted in early trade, following a subdued session on Wall Street as investors positioned for this week's Federal Reserve decision and US inflation data.

Markets in Japan posted early gains while those in Australia edged lower as they reopened after a public holiday.

All three major indexes closed higher on Monday - with the S&P 500 and Nasdaq both notching fresh records.

Here's a table showing how US stocks performed on Monday:

Source: Equitymaster

At present, the BSE Sensex is trading 36 points lower and NSE Nifty is trading 10 points lower.

ONGC, L&T, M&M are among the top gainers today.

Asian Paints, ICICI Bank, and Kotak Mahindra the other hand are among the top losers today.

Broader markets are trading on a positive note. The BSE Midcap index is trading 0.2% higher and the BSE Smallcap index is trading 0.5% higher.

Sectoral indices are trading mixed, with stocks in the realty sector, power sector, and capital goods sector witnessing buying. Meanwhile, stocks in the finance sector and banking stocks witnessing selling pressure.

The rupee is trading at Rs 83.5 against the US dollar.

In commodity markets, gold prices are trading 0.4% lower at Rs 71,160 per 10 grams today.
 

Siemens-RVNL Consortium Bags Bangalore Metro Rail Project

State-owned RVNL on Monday (10 June) said the Siemens-RVNL consortium has received a letter of acceptance from Bangalore Metro Rail Corporation (BMRCL) for a project valued at Rs 3.9 bn.

This project involves the engineering, supply, erection, testing, and commissioning of 33 KV distribution, 750V DC third rail traction electrification, including traction substations, auxiliary substations, and SCADA systems for phase-2A and phase-2B of the Bangalore Metro.

Siemens holds a 70% stake in the consortium, while Rail Vikas Nigam Ltd holds the remaining 30%.

RVNL reported a 33.2% year-on-year jump in net profit at Rs 4.8 bn for the fourth quarter that ended 31 March 2024. In the corresponding quarter in FY23, Rail Vikas Nigam posted a net profit of Rs 3.6 bn.

The company's revenue from operations increased 17.4% to Rs 67.1 bn against Rs 57.2 bn in the corresponding period of the preceding fiscal. At the operating level, EBITDA rose 21.8% to Rs 4.6 bn in the fourth quarter of this fiscal over Rs 3.7 bn in the year-ago period.

RVNL is an executing arm of Indian Railways and works for and on behalf of the ministry for projects assigned to it for execution.
 

Tata Motors to Kaunch Multiple EVs

Tata Motors showcased its Avinya concept electric car back in April 2022. The concept Avinya, derived from the Sanskrit language, stands for 'Innovation', claimed Tata Motors then. The company then said it would launch the Avinya in 2025.

Now, according to a report by Auto Car India, Tata is planning to bring the Avinya as an electric car brand rather than a single vehicle. The Indian carmaker plans to launch multiple products, Vivek Srivatsa, chief commercial officer, of Tata Passenger Electric Mobility.

Originally inspired by a catamaran, the Avinya concept is an uncompromising vision for electric mobility says Tata Motors.

With a new silhouette, this concept is a mixology of the best of the worlds - it is a product that combines the essence of a premium hatch with the luxuries and versatility of an SUV and the roominess and functionality of an MPV - all put together to create something new and beautiful.

A significant highlight on the front and rear of the vehicle is the new identity. This new identity as a part of the DRL is a subtle nod to our commitment to enhancing the quality of life and is a pivotal step in the evolution of EVs. It is also the manifesto and emphasizes the Horizon and the Infinite possibilities that the Gen 3 electrification will offer.

Pioneered out of India for the world, this global platform offers high structural safety and has the next level of waterproofing and dust protection, making it ready for all forms of terrains.
 

PVR Inox to Dial Up F&B Revenue

Multiplex chain PVR Inox is focusing on growing its fastest-growing segment -- food and beverage (F&B) for which it is partnering with brands like food discovery, table reservation, and restaurant payment platform EazyDiner.

The multiplex operator will be offering its customers up to 25% discount on popcorn, Pepsi, and more for payments done via EazyDiner.

Renaud Palliere, Chief TLC & Innovation at PVR INOX, expects customer retention and footfalls to increase due to such initiatives. Industry-wide footfalls in theatres have been down by 25-30%.

Box office business has currently been erratic with less supply of movies in 2024 and cinemas like PVR Inox have been focusing on growing the F&B business. Amid dwindling footfalls, higher spending per head (SPH) is helping theatres stay afloat.

To grow the F&B business, PVR has already been offering discounts and deals on food and beverages. The company's revenue from F&B sales grew 21% in FY24, higher than the sales from movie tickets, which registered a 19% growth in the last financial year.

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