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Market Updates

The Markets are expected to open maarginallly higher today as trend in SGX nifty indicate a positive start for the broader index after Nifty closed 154 points higher at 18,972 on wednesday.

Tata Communications:

The company will acquire U.S. based Kaleyra at an aggregate cost of $100 million (Rs 820 crore). The company will be acquired with a gross debt of $224.9 million and net debt of $149.9 million in its books.

PowerGrid:

The company approved an aggregate investment of Rs 388.94 crore. It will invest in establishment of Telecom network for NTAMC at an estimated cost of Rs 164.38 crore, Western Region expansion scheme at an estimated cost of Rs 115.09 crore and ICT Augmentation at Navsari associated with integration of 7 GW RE power from Khavda RE park at an estimated cost of Rs 109.47.

HDFC:

The company acquired 612 equity shares of Xanadu Realty, representing 5.46% of its paid-up equity share capital upon conversion of 938 compulsorily convertible debentures held by it in Xanadu. The shares are acquired at Rs. 4,08,501 apiece, aggregating to a total consideration of Rs. 25 crore.

ICICI Sec/ICICI Bank:

ICICI Securities on June 29 announced that the broking firm will delist and become a wholly owned subsidiary of its parent company ICICI Bank. Public shareholders of ICICI Securities would be allotted 67 equity shares of ICICI Bank for every 100 equity shares of the company.

Bharat Petroleum:

The company’s board approved raising up to Rs 18,000 crore via rights issue.

Zee Entertainment:

The company has withdrawn its Expression of Interest in the resolution plan process for Reliance Broadcast Network.

Canara Bank:

The bank approved Rs 7,500 crore by way of debt instruments.

Dalmia Bharat:

Dalmia Bharat Sugar and Industries demerges to form Dalmia Bharat Refractories.

Ex-Date Dividend:

Can Fin Homes, Greenlam Industries, Syngene International, Hitech Corporation, Welspun Enterprises, Vaibhav Global, Bajaj Finance, Maharashtra Scooters, Bank of Baroda, Bajaj Finserv, GlaxoSmithKline Pharmaceuticals, Bajaj Auto Bajaj Holdings & Investment, Nilkamal, Aegis Logistics, Escorts Kubota etc.

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