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Shares of Ahluwalia Contracts (India) gained as much as 4% after it secured orders worth Rs 530.05 crore.
Source: Bloomberg, exchange filing.
UPL shares rose 1.11% after the company signed an agreement to acquire a 20% stake in Brazilian soy genetics company Seedcorp Ho for $42.33 million (Rs 344.79 crore).
UPL says the acquisition will help it “offer a complete package of solutions to farmers.”
The transaction will likely get completed by January.
Of the 29 analysts tracking the company, 27 maintain 'buy', one suggests 'hold' and one recommends 'sell'. The return potential of the stock implies a upside of 32.6%.
Source: Exchange filing
Meta has announced the appointment of Sandhya Devanathan as the vice president of India operations.
Devanathan joined Meta in 2016 and helped build out the Singapore and Vietnam operations. She moved to lead gaming in APAC in 2020.
Devanathan will take charge with effect from January 1, 2023 and will report to Dan Neary, Vice President, Meta APAC.
Source: Company statement
The broader indices underperformed their larger peers with mid-cap and small-cap losing 0.23% and 0.21%, respectively.
Thirteen out of the 19 sectoral measures complied by the BSE declined, with BSE Consumer Durables losing the most over 1%.
The market breadth is skewed in the favour of bears. About 1,478 stocks rose, 1,884 fell and 130 remained unchanged.
Tata Motors has received an order from Haryana Roadways to supply 1,000 52-seater, BS6 diesel buses in a phased manner.
The e-bidding process was carried out through the government tender process.
Source: Exchange filing
SoftBank To Sell Paytm Stock Worth Rs 1,629 Crore As Lock-In Ends
The broader indices outperformed their larger peers with mid-cap and small-cap losing 0.16% and 0.07%, respectively. While large-cap almost mirrored its larger peers by losing 0.21%.
Ten out of the 19 sectoral measures complied by BSE declined, with BSE Metal losing the most over 1%.
The market breadth is skewed in the favour of bulls. About 1,338 stocks rose, 1069 fell and 102 remained unchanged.
Blackstone has made an open offer to acquire a 48.33% stake or 5.71 crore shares in R Systems.
Open offer price set at Rs 246 per share.
Blackstone to spend as much as Rs 1,406 crore on the open offer.
Source: Exchange filing
Yield on the 10-year bond fell 3 bps to 7.24% in opening trade on Thursday.
Source: Bloomberg
Indian currency depreciated by 35 paise to 81.66 at the open against the greenback on Thursday. It closed at 81.30 on Wednesday.
Source: Bloomberg
Blackstone to purchase a 52% stake in R Systems from founder Satinder Singh Rekhi and other promoters.
Blackstone will acquire the stake for Rs 245 per share.
Blackstone will also launch a conditional delisting offer, at Rs 246 per share.
The company is headquartered in the U.S., but listed on the NSE and BSE.
Source: Press release
Stocks Edge Higher, Yield Curve Inverts Further: Markets Wrap
Keystone Realtors: The IPO was subscribed 2.01 times on the final day. The QIB portion was subscribed 3.84 times. Non-institutional investors’ portion was subscribed 3.03 times, while retail investors subscribed 53% of their basket.
A 10,000% Indian Stock Rally Plunges on Shaky Green Claims
SoftBank To Sell Paytm Stock Worth Rs 1,629 Crore As Lock-In Ends
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