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Singapore’s Sembcorp Industries to sell India unit Sembcorp Energy for around 2.1 billion Singaporean dollars (Rs 11,700 crore).
Sembcorp India is one of the largest independent power producers in the country, operating two supercritical coal-fired plants totalling 2.6GW.
The sale has been made to Tanweer Infrastructure, which is indirectly owned by a consortium led by Oman Investment Corporation.
Source: Singapore Exchange filing
Mastercard to be the title sponsor for all international matches held on home ground, domestic cricket matches like Irani Trophy, Duleep Trophy and Ranji Trophy and also all junior cricket (U-19 and U-23) matches held in India for the 2022-23 season.
Earlier, Paytm had won the rights for Rs 326.8 crore to be paid for the 2019-23 home season.
Source: BCCI statement
Will India Join Global Bond Indices? 'Very Good Chance', Says Morgan Stanley
Tamilnad Mercantile Bank IPO Subscription Status: Day 1 Live Updates
The MidCap index underperformed its larger peers, rising 0.3% while SmallCap gauge outperformed, rising 0.9%. Barring Oil & Gas and Power measures, all the other 17 sectoral indices compiled by BSE advanced, with Metal index jumping nearly 2%.
The market breadth is skewed in the favour of bulls. About 2215 stocks rose, 1291 fell and 169 remained unchanged.
Clear ingress is being made due to digital technology.
Banks approaching the market to raise capital are being recognised for their good health.
Ease of doing business will have to be a continuous exercise.
Infrastructure will take a greater priority through greater coordination with PM Gati Shakti.
Gati Shakti to enable existing infrastructure facilities to be integrated with the hinterlands.
The next 25 years will be very critical for India.
Ministry of finance will be working on a pathway which will be predictable and consistent and will give every stimulus required for the growth of the Indian economy.
Government will be willing to engage with industry to understand how speedily we need to act and how quickly we need to remove the hurdles.
We earnestly request industries to ensure that the channel of communication with the government is kept up
Industry response to PLI positive.
Segments of industries are now willing to move to India.
The government is working together with state governments to make sure they are brought in facilitated with a plug and play model.
Source: FM at Ashwamedh-Elara India Dialogue 2022.
Supreme Court closes Adani Port and Special Economic Zone Ltd.’s plea against disqualification for the bidding process of JLN port trust.
Adani port had appealed against the HC order which upheld the disqualification from the bid for maintenance and upgradation of the JLN container terminal in Navi Mumbai.
Supreme Court closed the case after saying that the issue related to Vizag port cannot be reason of disqualification from future bids.
Services PMI sees a rise in August.
Services PMI rises to 57.2 in August from 55.5 in July.
Source: S&P Global
New Delhi will not factor in any potential inflows from index inclusion when it finalizes its fiscal second-half borrowing later this month, the Financial Express reported, citing a source it didn’t name.
This indicates that the listing of Indian govt bonds in global indices is unlikely to take place in 2022, if not in FY23, the report said
Govt has been in discussions with overseas index operators and certain conditions need to be finalized, the report said
Source: Bloomberg
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
The S&P BSE MidCap almost mirrored its larger peers while SmallCap index outperformed Sensex, Nifty, rising 0.8%. Sixteen of the 19 sectoral indices compiled by BSE Ltd. advanced with Metal gauge gaining over 1%.
The market breadth is skewed in the favour of bulls. About 2,029 stocks rose, 696 fell and 155 remained unchanged.
Yield on the 10-year bond fell 3bps to 7.20%, at the open.
Source: Bloomberg
Indian currency fell 5 paise (0.07%) to 79.85, at the open.
Source: Bloomberg
Anil Ambani-led Reliance Power has signed an MoU with alternative investment firm Varde Partners for availing debt of up to Rs 1,200 crore.
The debt will be used for settlement, discharge and/or acquisition and restructuring of financial debt availed by Reliance Power.
Source: Exchange filing
U.S. Dollar Index at 109.95
U.S. 10-year bond yield at 3.41% on Friday
Brent crude up 1.6% to $94.52 per barrel
Nymex crude at $88.22 per barrel
SGX Nifty down 0.16% to 17,511 as of 6:13 a.m
Bitcoin down 0.01% to $19,900.2
Pharma and healthcare ingredient maker Blue Jet has filed its draft red herring prospectus for an IPO.
The IPO is a pure offer-for-sale to sell as many as 2.16 crore shares.
No new shares being issued in the IPO.
Source: Draft red herring prospectus
Wipro: The company has partnered with Cisco to accelerate cloud transformation for customers. The partnership will enable Wipro customers to deploy Wipro FullStride Cloud Service to enable a fully automated hybrid-cloud stack, reducing the implementation time and enhancing the user experience.
JSW Steel: Life Insurance Corporation increased its stake in the company from 5% to 7.01%.
GMR Infrastructure: The company approved raising of funds of up to Rs 6000 crore in one or more tranches through issue of securities including a Qualified Institutions Placement and/or foreign currency convertible bonds and/or any other securities.
Hindalco: Aluminium buyer Novelis excludes Russian metal in Supply deal.
Hindustan Aeronautics, L&T: Wins Rs 860 crore deal from NSIL to entirely build five PSLV rockets.
JSW Steel: LIC's holding in JSW Steel has risen to 7.01%.
SpiceJet: Gets up to three-month extension of time to hold AGM
European equity futures tumbled and the euro fell Monday as the region’s worsening energy crisis added to concerns about a global economy already facing inflation, monetary policy risks.
The dollar was firm. Crude jumped past $88 a barrel ahead of an OPEC+ meeting on supply and as traders weighed the latest energy-sector twists.
At 7:05 am, the Singapore-traded SGX Nifty—an early barometer of India's benchmark Nifty 50—traded 0.24% lower at 17,498.50 points.
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