India's Securities and Exchange Board has banned seven companies, including Bharat Mohanlal Mehta, Impressive Trading and Lalita Bharat Mehta, from the securities market for three years for breaching insider trading regulations. The companies are also required to disgorge the equivalent amounts of the losses illegally avoided. The regulator alleged in the show cause notice that Sovin Trading and Sunrath Trading have violated the provisions of the prohibition of insider trading regulations. Insider trading is negative for ordinary investors because those personnel making illegal gains on unpublished sensitive information act at the cost of investors who are not privy to that information.

Private equity firm Carlyle Group has sold its entire 2.53% stake, equivalent to 1.84 crore shares, in supply chain management company Delhivery. Carlyle sold the stake for a sum of INR709 crore ($93.4m) in a block deal. Norges Bank acquired around 0.55% in Delhivery, while Goldman Sachs and Morgan Stanley each purchased 0.07%, and Société Générale picked up a 0.31% stake. Avendus, Citigroup, Barclays, Regal Investment Fund, and the Saudi Central Bank were among the other buyers. Carlyle had first invested in Delhivery in 2017 in a $100m funding round.

Emkay Wealth recommends dynamic asset allocation for larger portfolios amidst India's peak markets, while smaller portfolios follow basic allocation aligned with the client's risk profile. The firm favors structural growth firms over cyclical ones and expects select mid and small caps to outperform with relatively easier valuations. Emkay Wealth predicts that, whilst all three asset classes - equity, fixed income, and gold - generate returns, selective exposure is better. Investors should closely monitor the central banks' moves and the impact of macroeconomic factors. Meanwhile, domestic investors continue to pour money into equities.

Greenchef Appliances is set to launch its initial public offering (IPO) on 23 June, with subscriptions closing just four days later. The firm make kitchen appliances, with gas stoves and pressure cookers among its key products. The kitchen appliances market in India is expected to grow at 8.7% CAGR between 2022 and 2026. Greenchef Appliances is looking to use proceeds from the IPO to help fund the installation of new plant and machinery and for general corporate purposes.

Indian equities ended lower on Thursday as heightened volatility caused small-cap and mid-cap stocks to decline following the US Federal Reserve Chair's hawkish commentary. The Nifty settled below 18,800 levels, losing 0.45%. L&T, Divis Laboratories, HDFC twins and Bharti Airtel were the top gainers, while Tata Consumer Products, Asian Paints, Tata Motors, Bajaj Finance, and Tata Steel were the top losers in the Nifty pack. The overall market breadth favoured bears with 2,294 stocks ending in the red.

Alok Industries and Saregama India have formed Doji and Near Doji patterns on the technical charts, which are neutral patterns suggesting indecision in the market. The Doji pattern indicates a potential trend reversal requiring confirmation from subsequent price action. The lack of an increase in buying or selling activity often causes this pattern to form. Investors should assess the companies' financials, debt restructuring, industry dynamics, content acquisition and expansion strategies and confirm the pattern with strong bullish or bearish candle and analyse the accompanying volume to make informed decisions.

There are 26 Nifty500 companies in the wealth destroyers screener, which looks for stocks with negative share price changes in the past five years as well as the past year

On the technical charts, the 200-day moving average of the stock stood at Rs 4586.93.

Axis Bank, incorporated in the year 1993, is a banking company (having a market cap of Rs 264609.27 Crore).