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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 34 points higher at 21,453 on Tuesday.

Nearly 100 more blocks of critical minerals will be put on auction before February next year, Coal and Mines Minister Pralhad Joshi said on Tuesday. Offshore minerals will be put on sale in the auction that will take place in March and April.

JK Tyre and Industries:

The company opened its QIP for raising up to Rs 500 crore, and has set the floor price of QIP at Rs 358.96 per share which indicates a discount of 5.2% to the stock's previous close of Rs 378.70 on NSE.

Varun Beverages:

The company will acquire South Africa’s ‘The Beverage Company’ and its subsidiaries for ZAR 3 billion or Rs 1,320 crore. The company signed a MoU with Jharkhand Government for the Patratu manufacturing plant with a total capital outlay of Rs 450 crore.

ITC:

The company’s unit Infotech India incorporated a wholly owned subsidiary ITC Arabia for about Rs 35 crore.

Tech Mahindra:

CP Gurnani ceases to be MD and CEO of the company on account of the completion of his tenure. Mohit Joshi to take over as CEO and MD effective Dec. 20.

Wipro: 

The company s unit Wipro Holdings has transferred 100% shareholding in Designit A/S to Wipro IT Services UK Societas.

NTPC:

The group achieved its fastest 300 billion units of power production so far in FY24.

Jubilant FoodWorks: The Company's unit, Jubilant Foodworks Netherlands, launched a cash offer to acquire the remaining 45.33% share capital of DP Eurasia, a subsidiary Currency Value Change (Pts) Change 

Bharat Petroleum Corp:

The company approved a proposal for setting up 400 KTPA polypropylene unit at its Kochi refinery. The cost of the project is Rs 5,044 crore which will be funded in a debt?equity ratio of 65:35.

Glenmark Life Sciences:

The Competition Commission of India has approved the acquisition of majority shareholding of Glenmark Life Sciences by Nirma.

Embassy Office Parks REIT:

Blackstone is looking to sell its entire 23.5% stake in the company via a mega block deal on Wednesday. The floor price is set as Rs. 310 per share.

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