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Market Updates

The Markets are expected to open marginally higher today as trend in GIFT nifty indicate a positive start for the broader index after Nifty closed 206 points higher at 20,096 on Wednesday.

Metro Brands:

The company has signed a trademark licence agreement with Foot Locker Retail, Inc., granting exclusive rights for opening and operating athletic and casual footwear and apparel stores under the brand names “Foot Locker” and “Kids Foot Locker” through brick?and?mortar stores in India.

ICICI Bank:

The board approved the draft scheme of arrangement for the delisting of equity shares of ICICI Securities, thereby making ICICI Securities a wholly? owned subsidiary of the bank. 

Ultratech Cement:

The cement manufacturer acquired the 0.54 MTPA cement grinding assets of Burnpur Cement for Rs 170 crore.

Thomas Cook (India):

The company's promoter, Fairbridge Capital (Mauritius), proposed an offer for sale to sell up to 32 lakh equity shares, representing 6.8% of the total paid? up equity share capital of the company. In the event of oversubscription, an additional 80 lakh shares, representing a 1.7% stake, will be available. The floor price of the offer is set at Rs 125 per equity share.

Shivalik Bimetal Controls:

The company signed a MoU with Metalor Technologies International SA (Metalor) to explore the feasibility of setting up a joint venture in India to produce electrical contacts

Dixon Technologies (India)

ICRA reaffirmed the company's ratings and revised the outlook on the long? term rating from stable to positive.

Man Infraconstruction:

The company approved a Rs 550 crore fund raise through a preferential issue. The funds will be raised through the issue and allotment of up to 3.55 crore warrants, each warrant convertible into one equity share of the face value of Rs 2 each on a preferential basis at an issue price of Rs 155, including a premium of Rs 153 per warrant.

JSW Infrastructure:

The company has issued a corporate guarantee of $126 million in favour of Axis Trustee Services. Its subsidiary, Masad Infra Services, has entered into a concession agreement with the Karnataka Maritime Board to develop a greenfield port.

Welspun Speciality Solutions:

It bagged orders for an aggregate amount of Rs 15.87 crore from a domestic, unrelated customer for the supply of duplex drade seamless tubes. The order is expected to be executed by March 2024.

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