IGI Logo

Market Updates

The Markets are expected to open marginally higher today as trend in SGX nifty indicate a flat start for the broader index after Nifty closed 61 points higher at 18,816 on tuesday.

GR Infraprojects:

The company has bagged a hybrid annuity mode order for four lanes of NH 530B in Uttar Pradesh from the National Highway Authority of India with a project cost of Rs 1,085.47. It has also executed with National Highways Logistics Management the designing, building, financing, operating, and transferring of a logistics park in Indore for a project cost of Rs 758.1 crore.

HDFC/HDFC Life Insurance:

The Competition Commission of India approved HDFC Ltd.’s acquisition of an additional shareholding in HDFC Life. The acquisition of additional shareholdings will be done via one or more market purchases on stock exchanges. Following the merger of HDFC Ltd. and HDFC Bank, the merged HDFC Bank entity will hold over 50% of HDFC Life

Pidilite Industries:

The company launched its manufacturing facilities under its two joint ventures, Pidilite Litokol and Tenax Pidilite, in Amod, Gujarat. Litokol SPA Italy and Tenax SPA Italy have transferred technology to Pidilite as part of the joint venture.

Piramal Enterprises:

Piramal Enterprises will sell its entire stake of 8.34 percent in Shriram Finance via block deal. To offload the stake, Piramal will be required to sell around 3.1 crore shares it currently holds in the non-banking financial company. The floor price for the block deal is likely to be Rs 1,483 per share, the sources said. This would mark a discount of around 5 percent, as the current market price of Shriram Finance's stock is Rs 1,559.45 on the BSE.

Bharti Airtel:

Matter Motor Works and Bharti Airtel announced a strategic partnership to deploy Airtel’s IoT solution in Matter AERA, India’s first and only geared electric motorbike.

Rail Vikas Nigam:

The company in its clarification note to exchanges said the news with respect to the breaking of a joint venture between RVNL and Transmashholding (TMH) is factually incorrect.

Jamna Auto:

Foreign portfolio investor Smallcap World Fund Inc has sold 59.05 lakh shares.

Ex-Date Dividend:

Shree Digvijay Cement, Polycab India, Oberoi Realty, Supreme Industries.

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at http://www.aretesecurities.com/
SEBI Regn. No.: INM000012740

Above views are of the author and not of the website kindly read disclaimer