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Market Updates

The Markets are expected to open marginally positively today as trend in SGX nifty indicate a positive start for the broader index after Nifty closed 47 points higher at 19,444 on wednesday.

NHPC:

The company signed an MoU with Andhra Pradesh Power Generation Corporation for renewable energy projects in the state. The MoU allows parties to form a JV to implement techno-commercially viable pumped storage hydropower projects and other renewable energy projects allotted by the state.

Reliance Industries:

Qatar Investment Authority to invest Rs 8,278 crore (0.99% stake) in Reliance Retail Ventures at a pre-money equity value of Rs 8.278 lakh crore via a wholly-owned subsidiary.

Borosil:

Its subsidary Klass Pack has executed a share purchase agreement to acquire an additional 4.56% in Goel Scientific for Rs 91.12 lakh. This follows KPL's 90.17% acquisition of Goel Scientific, for which the acquisition price has been agreed at Rs 21.5 crore. KPL's stake increases to 94.73%.

Procter & Gamble Health:

For the quarter ended June (Q4FY23), the FMCG company reported a revenue of Rs 301.18 crore, up 1.78% year-on-year, while its net profit was down 27.6% at Rs 29.82 crore. The board recommended a dividend of Rs 50 per share for the financial year ended June 30, 2023.

Redtape:

Promoter Yasmin Mirza has acquired by way of gift 15.96% from Shahid Ahmad Mirza, 16.03% from Tauseef Ahmad Mirza, and 14.11% from Tasneef Ahmad Mirza. Yasmin's stake increased to 50.27% from 4.18%, while the other three promoters' stakes were reduced to nil.

Vascon Engineers:

The company received an order worth Rs 605.65 crore from Bihar Medical Services and Infrastructure Corporation for the construction of Lohia Medical College and Hospital, including a hospital and residential building in Supau.

Paramount Communications:

The board has approved the acquisition of a 100% stake in Valens Technologies for Rs 1.97 crore. The deal gives PCL a strong position in the telecom business while also adding market and product diversity in terms of the water pipeline business.

Ex-date Dividend:

AGI Greenpac, Andrew Yule & Company, Hindustan Aeronautics, RailTel Corporation of India, Monte Carlo Fashions, Mayur Uniquoters, HEG.

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