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- IDBI Bank has appointed Smita Harish Kuber as chief financial officer and key managerial personnel of the bank with effect from April 1, 2023.
- Kuber will succeed incumbent Executive Director and Chief Financial Officer P. Sitaram after his retirement on March 31.
Source: Exchange filing
- Ministry of Power has allocated the capacity to 11 companies with a total outlay of Rs 14,007 crore under the production-linked incentive.
- Reliance, ReNew, JSW, Tata Power Solar are among the winning bidders.
- India will add 48 GW of domestic Solar Module manufacturing capacity in the next three years.
- Tranche II of PLI to bring in an investment of Rs. 93,041 crores and generate over one lakh direct and indirect jobs.
Source: PIB
The larger indices underperformed the benchmarks. S&P BSE MidCap index fell 0.67% while the S&P BSE SmallCap index declined 0.83%.
The market breadth was skewed towards the bears. About 2,427 stocks declined, 951 advanced while 139 remained unchanged.
Embassy Office Parks REIT agreed to buy Embassy Business Hub for Rs 334.8 crore.
- Embassy REIT will acquire the rights, title and interest of sellers in Embassy Construction Private, developer of Embassy Business Hub.
- It will also get exclusive ownership rights to approximately 1.4 million square feet of leasable area.
- Embassy REIT will buy the entire paid up share capital of Embassy Construction from JV Holding Private, seller and a shareholder of Embassy Group.
-Embassy REIT plans to primarily fund the acquisition through debt at 8.1% interest cost per annum.
Source: Exchange filing
Indian benchmark indices pared their opening gains.
S&P BSE Sensex was trading flat at 57,626.85, while Nifty 50 fell 0.18% to 16,954.95.
- Sterlite has signed an amended and restated agreement to transfer its Telecom Products and Software business as an asset sale to Skyvera LLC.
-Earlier, the parties had entered into a business transfer agreement to sell it by way of slump sale as a going concern basis.
- The transaction will be effected by Skyvera LLC through its Indian subsidiary.
- The aggregate consideration for sale of identified assets and carveout intellectual property is $15 million ( Rs 123.32 crore).
Source: Exchange filing
- SEBI has issued observation letters for the IPO of J.G. chemicals.
-The initial stake sale will include fresh issue and an offer for sale.
Source: SEBI website
Larger indices underperformed the benchmarks. S&P BSE MidCap fell 0.34%, while S&P BSE SmallCap traded flat.
The market breadth was skewed in favour of the bears. 1,348 stocks declined, 1,265 gained, while 111 stocks remained unchanged.
Indian benchmarks gained at pre-market open on Tuesday.
S&P BSE Sensex gained 0.17% to 57,751.50, while Nifty 50 rose 0.27% to 17,031.75.
Source: Bloomberg
-The local currency appreciated 20 paise to open at 82.17 against the greenback on Tuesday.
-It closed at 82.37 on Monday.
Source: Bloomberg
- The trading and demat accounts where nomination details are not updated will be freezed with effect from Sept. 30, 2023.
-Upon failing, the trading accounts shall be frozen for trading and demat account shall be frozen for debits.
- Previously, SEBI had mandated all changes by March. 31.
- Stock brokers and depository participants asked to encourage clients to update 'choice of nomination' by communicating through SMS and email on fortnightly basis.
Source: SEBI
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Trident: Madhuraj Foundation bought 1.24 crore shares (0.24%), Trident Limited Employees Welfare Trust sold 1.24 crore shares (0.24%) at Rs 25.75 apiece.
Bulk Deals
India Glycols: Abhishek Khaitan sold 2.04 lakh shares (0.66%) at Rs 584.82 apiece.
Supriya Lifescience: Dovetail India Fund Class 6 Shares sold 5.47 lakh shares (0.68%) at Rs 177.08 apiece.
Stocks To Watch: Adani Enterprises, Aditya Birla Capital, NDTV, Nestle India, Allcargo, PNC Infratech
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