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Market Updates

The Markets are expected to open higher today as trend in SGX nifty indicate a positive start for the broader index after Nifty closed 67 points higher at 18,688 on thursday.

TVS Motor Company:

The automaker sold its entire stake of 11.12 crore equity shares, or 43.54% stake, held in associate company Emerald Haven Realty for Rs 166.83 crore to TVS Holdings, a promoter group company.

Bharat Heavy Electricals, Eicher Motors:

BHEL, Volvo Eicher Commercial Vehicles inked a memorandum of understanding to jointly develop and deploy Type-IV hydrogen and CNG cylinders in the commercial vehicle segment.

Torrent Pharma:

U.S. FDA has issued an Establishment Inspection Report after inspecting the drugmaker’s oral-oncology manufacturing facility at Bileshwarpura in Gujarat. Natco Pharma: U.S. FDA has issued an Establishment Inspection Report after inspecting Natco’s drug formulations manufacturing facility at Visakhapatnam in Andhra Pradesh from Jan. 30 to Feb. 3.

Titagarh Wagons, Ramakrishna Forgings:

Titagarh Wagons, Ramakrishna Forgings, won a Rs 12,226.5 crore contract to manufacture and supply 15,40,000 forged wheels over a span of 20 years for Indian railways. As per the contract, 40,000 forged wheels will be delivered during the first year, 60,000 wheels in the second year, and 80,000 wheels every subsequent year thereafter.

Power Finance Corporation:

Company’s wholly owned subsidiary, PFC Consulting, has been nominated as Bid Process Coordinator for the development of independent transmission projects by the Power Ministry. The company will take the special purpose vehicle route to execute the tariff-based competitive bidding process.

NLC India:

The company has incorporated a wholly-owned subsidiary, NLC India Renewables, to take over the existing renewable assets of the company.

IKIO Lighting:

The shares of LED lighting solution provider IKIO Lighting Ltd. will be listed on the Indian stock exchange on June 16. IKIO launched its initial public offering on June 6, which closed on June 8. The Rs 606.5 crore IPO was subscribed 66.30 times on day 3. The offer included a fresh issue of Rs 350 crore and an offer for the sale of around 90 lakh shares. Ex-Date Dividend: HDFC Life Insurance, Piramal Enterprises, Torrent Power,Welspun Corp., Eimco Elecon (India), Power Finance Corporation, etc.

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