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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 68 points lower at 19,674 on friday.

SBI:

Company has raised Rs 10,000 crore through long-term infrastructure bonds at a 7.49% coupon rate. The proceeds from bonds will be utilised to enhance long-term resources for funding infrastructure and the affordable housing segment. SBI has outstanding long-term bonds worth Rs 39,718 crore with this issue.

Power Finance Corp:

The company has allotted 66 crore fully paid-up bonus equity shares of the face value of Rs 10 each in the ratio 1:4.

Mahindra & Mahindra Financial Services:

The company has completed the acquisition of Mahindra Insurance Brokers for Rs 206 crore, at a price of Rs 1,001 per share. MIBL is now a wholly owned subsidiary of the company.

Blue Star:

The board approved the allocation of 1.29 crore equity shares at an issue price of Rs 770 apiece to 41 qualified institutional buyers. Norges Bank and SBI Large & Midcap Fund each secured over 12% of the issue.

Ircon International:

The company has a contract worth $14.89 million, or Rs 122 crore, with Sri Lanka Railways for the design, installation, and commissioning of signalling and telecommunic

Karnataka Bank:

The board approved raising Rs 1,500 crore through the issue of equity shares. Of this, Rs 800 crore will be raised via a preferential issue of shares at Rs 239.52 apiece.

Edelweiss Financial Services:

The equity shares of Nuvama Wealth Management are to be listed and admitted for dealing on BSE and NSE as of Sept. 26. Nuvama Wealth Management was formerly known as Edelweiss Securit

Delta Corp:

The company received a Rs 11,139-crore GST demand order from Hyderabad's Directorate General of GST Intelligence. The company said the tax liability amount claimed is based on the gross bet value of all games played at casinos rather than gross gaming revenue. It will pursue remedies to challenge the tax demand.

Swan Energy: 

The board approved raising up to Rs 1,435 crore via preferential issue of shares. It will issue up to 2.9 crore shares at Rs 495 apiece.

Please refer disclaimer at http://www.aretesecurities.com/

SEBI Regn. No.: INM000012740