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Sequoia has reduced its stake in Zomato to 4.40% from 6.41%.
It had sold 2.01% across in two tranches between September 6, 2021 to October 14, 2021 and June 27 to August 25.
Earlier, Uber had exited the company, while Tiger Global had halved its stake.
Source: Exchange filing
The seasonal jobs are created to cater to significantly higher volume during the festive season with both parcel and express part-truckload businesses.
Delhivery will hire 10,000+ off-roll employees across gateways, warehouses and last-mile delivery centre.
It will also double down on partner programs by hiring onboarding individual bikers, local retailers, transporters and business partners.
Source: Exchange filing
DreamFolks Services IPO Subscription Status: Day 3 Updates
The broader indices almost mirrored their larger peers. Barring FMCG and Telecom, all the other 17 sectoral indices advanced.
The market breadth is skewed in the favour of bulls. About 1,998 stocks rose, 1,322 fell and 166 remained unchanged.
How Analysts See September F&O Series To Shape Up
Videocon Insolvency: NCLAT Sets Aside Twin Star's Plan, Allows Fresh Round of Bidding
Lupin announces UK's Medicines and Healthcare products Regulatory Agency approval to market Lutio, an inhalation drug
This is the second inhalation product by Lupin Healthcare for the UK market.
Lutio is used to treat chronic obstructive pulmonary disease.
Source: Exchange filing
The mining limit for Bellary is raised to 25 MMT and for Chitradurga and Tumkur to 15 MMT.
The top court was hearing applications requesting the lifting of the ceiling limits for production of iron ore for mining leases in districts of Bellary, Chitradurga and Tumkur.
Syrma SGS Technology Gains Nearly 40% Over IPO Price On Debut
10-Year Bond Yield Falls On Report Of India's Addition To Bond Index
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 Sensex gained over 450 points to 59,236.87. The NSE Nifty 50 added 0.8% to 17,668.60. Today 45 of Nifty 50 stocks rose, while five fell. Coal India, Mahindra & Mahindra, Titan, Tata Steel, Hindalco Industries and information technology firms were among the top gainers.
The broader indices almost mirrored their larger peers. All 19 sectoral indices compiled by BSE Ltd. advanced with Metal index climbing 2% higher.
The market breadth is skewed in the favour of bulls. About 2,023 stocks rose, 467 fell and 93 remained unchanged.
Yield on the 10-year bond fell 2pbps to 7.27%, at the open.
10-year bond yield rose in each of the last six sessions.
Source: Bloomberg
Indian currency rose 3 paise to 79.86 against the greenback, at the open.
Source: Bloomberg
Granules India's U.S. subsidiary Granules Pharmaceuticals received a 'Voluntary Action Indicated (VAI)' from U.S. FDA after inspection at the Chantilly, Virginia plant.
VAI inspection classification indicates that the U.S. FDA will not recommend regulatory action.
Source: Exchange filing
Risk reward is less favourable for information technology services sector, according to Morgan Stanley, which added that the two-year earnings CAGR will moderate. In its investor presentation on technology and telecom sectors on Thursday, Morgan Stanley assigned key 'overweight' on Infosys, Tech Mahindra and MPhasis while remaining 'underweight' on Wipro, HCL Tech and Cyient.
The estimation comes amid series of downgrades by Morgan Stanley's global macro economic team of the global growth forecasts for 2023 for both the U.S. and the European Union. A CIO survey by Morgan Stanley also pointed at downward revision of the expectations of 2022 I.T. services budgets in each of the last four quarters. Despite strong Q1 numbers, Morgan Stanley observed that the leading indicators such as book-to-bill and headcount addition have shows signs of moderation, as it expects a slower growth phase till September 2023 with possibility of recovery from second half of FY2024.
Source: Morgan Stanley note
HDFC Bank: The bank entered into non-binding agreement with Go Digit to invest between Rs 49.9-69.9 crore worth equity capital. Go Digit proposes to carry out life insurance business in India, subject to grant of certificate of registration from IRDA.
HDFC: The company’s three subsidiaries HDFC Property Ventures, HDFC Venture Capital and HDFC Capital Advisors approved amalgamation of HPVL and, HVCL with HCAL. The combined platform shall advise/ manage approximately $4.1 billion of assets.
Eicher Motors: The chief financial officer of the company Kaleeswaran Arunachalam has resigned effective from September 2.
Indian Oil Corporation: The company plans to spend Rs 2 lakh crore to achieve carbon neutrality by 2046.
Dr. Reddy’s Laboratories: The U.S. FDA has concluded that the inspection is “closed” at the company’s formulations manufacturing facility (FTO 11) in Srikakulam, Andhra Pradesh.
Nelco: The company has partnered with Intelsat Commercial Aviation to offer inflight connectivity services in India.
Max Financial Services: The company’s subsidiary Max Life Insurance announced that receipt of the Commencement of Business certificate for its wholly owned subsidiary, Max Life Pension Fund Management. This subsidiary will manage the pension assets with investment choices under the National Pension Scheme.
Gland Pharma: The company received one observation on Form 483 from the U.S. FDA that conducted pre-market inspection at Dundigal Facility at Hyderabad.
Infibeam Avenues: Buys 50% stake in software startup Vishko22.
Steel Authority of India: Expands adoption of HPE GreenLake.
Lupin: Entered into an exclusive licensing deal with Japanese drugmaker I'rom Group to conduct clinical trials, register, distribute and market biosimilar Denosumab in Japan. Denosumab has a market size of $500 million in Japan and is available under two brands - Pralia and Ranmark.
U.S. Dollar Index at 108.54
U.S. 10-year bond yield at 3.03% on Thursday
Brent crude up 0.5% to $100 per barrel
Nymex crude at $93.17 per barrel
SGX Nifty up 0.35% to 17,650 as of 6:11 a.m
Bitcoin down 0.5% to $21,542
Asian equities rose after gains in Wall Street, aided by U.S. gauge of Chinese shares, as markets withstood the hawkish comments from Fed officials at the annual conference in Jackson Hole, Wyoming.
U.S. Federal Reserve Chair Jerome Powell's speech today could contain key announcements and reiteration of steps to tighten monetary policy to flight surge in inflation.
Bourses in Japan, Australia and South Korea were in the green.
At 6:50 am, the Singapore-traded SGX Nifty--an early barometer of India's benchmark Nifty 50--traded 0.50% higher at 17,675.50 points. Shares of Syrma SGS Technology will start trading today after IPO.
US 10-year yield fell to just above 3%. Elsewhere, Nymex crude rose above $93 a barrel while Gold and Bitcoin declined.
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