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Market Updates

The Markets are expected to open higher today as trend in GIFT nifty indicate a positive start for the broader index after Nifty closed 36 points higher at 20,133 on Thursday.

Kesoram Industries:

Kesoram Industries announced that its cement business will be merged with UltraTech Cement Ltd. for about Rs 5,379 crore to unlock its value and deleverage its balance sheet. Under the demerger agreement, UltraTech will issue 1 equity share for every 52 equity shares of Kesoram. About 59.74 lakh new equity shares of UltraTech will be issued to the shareholders of Kesoram.

Hindustan Aeronautics:

The company received a nod from the Defence Acquisition Council for the procurement of light combat helicopters for the Indian Air Force and Indian Army and light combat aircraft Mk 1A for the Indian Air Force.

Defence stocks:

The government accorded initial approval to defence acquisition projects worth Rs 2.23 lakh crore, 98% of which will be sourced from domestic industries

Infosys

The IT major announced its collaboration with Shell on immersion cooling services to enable sustainability?first data centres.

Wipro

The company announced that it is working with Amazon Web Services to redefine the future of lab processes in the life sciences industry.

CSB Bank:

RBI approved an amendment to dilute the schedule of shareholdings of FIH Mauritius Investments to 26% of the paid?up equity capital of the bank within 15 years from the date of completion of investments instead of 15% as advised by RBI at the time of approval of the investment proposal of FIHM in the year 2018.

PFC:

PFC Consulting, a subsidiary, has been nominated as the 'Bid Process Coordinator' for the selection of developers through tariff?based competitive bidding for the Independent Transmission Projects by the Ministry of Power.

Larsen and Toubro:

The company incorporated a new wholly?owned subsidiary, L&T Semiconductor Technologies

Biocon

Biocon Biologics, a subsidiary of the company, has successfully completed the integration of Viatris Biosimilar Business in 31 countries in Europe.

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