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Market Updates 

The Markets are expected to open marginally higher today as trend in SGX nifty indicate a positive start for the broader index after Nifty closed 176 points higher at 19,996 on monday.

Power Grid Corp:  

The company won the bid for a 20 GW inter-state transmission project in Rajasthan on a build, own, operate, and transfer (BOOT) basis

Lupin:  
The drugmaker plans to enter into a business transfer agreement with subsidiary Lupin Manufacturing Solutions to carve out two active pharmaceutical ingredient manufacturing sites at Dabhasa and Visakhapatnam and select R&D operations, including fermentation, at Lupin Research Park, Pune. The consideration expected to be received is Rs 750–850 crore, and the deal is likely to be entered into in October 2023.

Reliance Industries: 

KKR will invest Rs 2,069.5 crore in the company's subsidiary, Reliance Retail Ventures, increasing its stake to 1.42% from 1.17%. The deal values the retail giant at Rs 8.36 lakh crore.

NTPC:  

Subsidiary NTPC Green Energy, signed an MoU with Nayara Energy to explore opportunities in the green hydrogen and green energy space for captive usage.

Larsen & Toubro:

The company has increased the buyback price to Rs 3,200 from Rs 3,000 apiece, while the number of shares has been reduced from 3.33 crore to 3.12 crore.

Krishna Institute of Medical Sciences: 

Subsidiary KIMS Hospital Enterprise has acquired a further equity stake of 13.24% in Kondapur Healthcare for Rs 20 crore. The total stake now stands at 19.86%.

Laurus Labs: 

The company signed a share purchase agreement with a promoter and other shareholders of Laurus Bio for 37,641 equity shares through secondary purchase for Rs 71.6 crore. With this acquisition the company's shareholding in Laurus Bio will become 87.58% on a fully diluted basis.

TVS Supply Chain Solutions:

The board has agreed to acquire equity shares of three of the company's wholly owned subsidiaries: TVS Logistics Investments UK, TVS Logistics Investments Inc. USA, and TVS Supply Chain Solutions Pte. Ltd., Singapore, for an aggregate cost of Rs 450 crore. The time period for the completion of investment in these overseas subsidiaries is Nov. 30. Further, it has reported consolidated revenue of Rs 2,342.43 crore, down 12.4% year-on-year, and a net loss of Rs 65.26 crore.

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