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Market Update

Puravankara – Company real estate developer Puravankara has acquired a 3.63-acre land parcel in Bengaluru, India for an undisclosed amount to develop a residential complex. The acquired land has a saleable area of 542,000 square feet and a total estimated gross development value of over Rs700cr

Madhya Pradesh High Court Clears Path For Religare’s AGM The Madhya Pradesh High Court on Thursday disposed of a case that led to a stay on Religare Enterprises Ltd.'s annual general meeting. The allows the previously halted AGM to proceed. As a result, Burman family's open offer, which would allow them to acquire a 26% stake in the company, can also go through.

TCS partners with The ePlane Company to build electric aviation solutions – Company has entered into a partnership with flying electric taxi and urban air mobility solutions provider The ePlane Company. The partnership is expected to create sustainable and scalable electric aviation solutions for passenger and cargo transport.

Persistent Systems - The company launched Pi-OmniKG, an AI-driven knowledge graph solution using Google Cloud technology.

Keystone Realtors Q3 Business Update – Company which operates under the brand Rustomjee, has reported strong performance for Q3, with a 40% increase in pre-sales, reaching Rs 863 crore compared to Rs 616 crore in the same quarter last year. The company also saw a 20% growth in collections, amounting to Rs 542 crore, up from Rs 452 crore. Additionally, the area sold in Q3 increased by 10% totaling 4.1 lakh square feet, compared to 3.7 lakh square feet in the previous year.

India, US join hands to manufacture sonobuoys for undersea submarine tracking - India and the US are collaborating to manufacture sonobuoys necessary for tracking undersea submarines. US company Ultra Maritime and Indian Public Sector Undertaking Bharat Dynamics Limited (BDL) will produce these sonobuoys in India. The project was discussed during a meeting between US National Security Adviser Jake Sullivan and his Indian counterpart Ajit Doval in New Delhi on Monday. A sonobuoy is a small expendable sonar buoy dropped from aircraft or ships for anti-submarine warfare or underwater acoustic research.

Tata Motors 3Q Global Wholesales Up 1% Y/y to 341,791 Units - Companhy’s third-quarter global wholesales, including Jaguar Land Rover, rose 1% from a year earlier to 341,791 units

Global Market Update

European Market - European stocks fell for a second day as investors remained on edge about US trade uncertainty under incoming president Donald Trump. UK mid-cap stocks extended losses to a third day on fiscal deficit concerns.. UK and Germany marginally decline.

Asian Market - Asian stocks dipped, as the prospect of slower-than-expected interest rate cuts by the Federal Reserve offset a rebound in some tech shares. Both Japan and Taiwan Index declined by 1% each.

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