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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 19 points lower at 19,731 on Monday.

Grasim Industries:

The board approved a fund raise of Rs 4,000 crore via rights issue to fund capex and repay debt.

Gujarat Mineral Development Corporation:

GMDC presented a Rs 269.44 crore dividend cheque to the Gujarat government, which holds 74% of the company.

Bombay Dyeing:

The company has received consideration of about Rs 4,675 crore towards Phase?I, located at Worli, Mumbai, after signing a conveyance deed with a subsidiary of Sumitomo Realty. The proceeds realised will be used for repaying loans, and the balance will be invested in approved securities for future developments.

JK Paper:

The Board approved the acquisition of Manipal Utility Packaging Solutions Pvt. (MUPSPL), which is engaged in the business of manufacturing packaging products with a revenue of Rs 147.77 crore in FY23.

ICICI Securities:

The board approved the payment of an interim dividend of Rs 12 per equity share with a face value of Rs 5 each. The record date is set for Oct. 27, 2023.

Varun Beverages:

The board approved the acquisition of 5.03% of the paid?up capital of the manufacturing subsidiary for Rs 10 crore, Lunarmech Technologies.

Piramal Pharma:

The company announced the launch of a high?throughput screening facility that augments the existing in?vitro biology capabilities at its drug discovery services site in Ahmedabad, India.

KEC International:

The company bagged new orders worth Rs 1,315 crores in its transmission and cable business.

Coal India:

The company expects to exceed its demand projection of 610 MT of supply to the country’s power plant for FY24 after supplies to thermal power plants shot up by close to 6% to 23.5 million MT during the first fortnight of October 2023.

Lemon Tree Hotels:

The company signed an agreement for a 55?room property in Dehradun, Uttarakhand, under the brand “Keys Prime by Lemon Tree Hotels” and is expected to be operational by FY 2027.

Lupin:

The company signed a business transfer agreement with the unit to carve out two API manufacturing sites

Tata Power:

The company signed a power distribution agreement with Endurance Technologies for setting up a 12.5 MW solar plant.

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