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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 190 points higher at 19047.25 on Friday.

Tata Group:

Taiwan?based Wistron Corp., a contract manufacturer for Apple Inc., will sell its India unit to the Tata Group for $125 million. Wistron will sell a 100% stake in its unit, Wistron InfoComm Manufacturing (India) Pvt., to Tata Electronics Pvt., following board approval.

Tata Power:

The company's renewable energy arm inked a power delivery agreement with Mukand Ltd a Bajaj Group company for a 43 75 MW AC Group Captive Solar project. The installation will generate 99.82 MUs annually.

Bombay Dyeing:

The company's Global Depository Receipt programme has been terminated, and the GDRs have been delisted from the Luxembourg Stock Exchange. Due to the termination of the GDR programme, Naira Holdings has surrendered their 27.40 lakh GDRs for cancellation and, subsequently, has taken possession of the equivalent corresponding equity shares of the company.

Strides Pharma Science:

The company's Singapore unit, Strides Pharma Global, has entered into a binding agreement to sell its manufacturing facility for a consideration of $15 million to Rxilient Biohub.

IRB Infrastructure Developers:

The company has emerged as the preferred bidder for the project of tolling, operation maintenance and transfer of a 316 kilometre highway stretch in the states of Uttar Pradesh and Madhya Pradesh. The IRB Infrastructure Trust is to pay an upfront concession fee of Rs 4,428 crore to NHAI for a revenue?linked concession period of 20 years.

SJVN:

The company's unit, SJVN Green Energy, inked an MoU with Norway's Ocean Sun for collaboration in the green and clean energy sector. The unit will develop and finance a pilot membrane?based floating solar project of about 2 MW in India, with Ocean Sun providing patented technological support for the same.

Earnings In Focus

Adani Green Energy, DLF, Marico, Procter Gamble Hygiene & Health Care, APL Apollo Tubes, Petronet LNG, GMR Airports Infrastructure, KPIT Technologies, Nippon Life India Asset Management, Blue Star, DCM Shriram, Fine Organic Industries, Castrol India, Rainbow Childrens Medicare, Craftsman Automation, SIS, Spandana Sphoorty Financial, LT Foods, Gokaldas Exports, IFB Industries, LG Balakrishnan & Bros, J Kumar Infraprojects, DCX Systems, Siyaram Silk Mills, Andhra Paper, Jagran Prakashan, Filatex India, Bharat Bijlee, The Anup Engineering, Kalyani Steels, Jyoti Resins & Adhesives, Nelcast, Rane Madras, Premier Explosives, Mangalore Chemicals & Fertilizers, Enkei Wheels India.

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