During the early trading session on Monday, the SGX Nifty reported a rise of 0.28%, reaching a value of 18,662. This indicates a favourable beginning for the domestic indexes NSE Nifty 50 and BSE Sensex. Despite having a favourable beginning, domestic indices finished the day in the red on Friday, despite having a positive opening. The market was unable to hold onto its early gains and finished the day trading at its lowest point. Both the NSE Nifty 50 and the BSE Sensex lost ground today, with the former falling 0.33% to 18,568 and the latter falling 66 points to 18,568.
IIFL Finance
Nirmal Jain, the managing director of IIFL Finance, said that the company is planning to raise around Rs. 20,000 crore in FY24 via a variety of channels, such as bank loans, bonds, and external commercial borrowings.
Indian Oil
In the most recent auction of the fuel that is used to generate electricity, make fertiliser, transform into CNG, and be used for culinary reasons, the Indian Oil Corporation (IOC) acquired fifty percent of the natural gas that was being offered by Reliance Industries and its partner, BP.
DMart
In the month of June, DMart Ready, the online platform of the grocery retail chain DMart that is owned by Avenue Supermarts, increased the intensity of its discount strategy by slashing prices by at least 20-30%.
Vedanta
As a result of submitting the highest final price offer, Vedanta has been selected as the winning bidder for the online auction of the “Block VII – Cudnem Mineral Block.” The winning bid was 93.15% of the original asking price. As soon as the approval procedure is brought to a successful conclusion, the firm will be given the mining lease for the iron ore mines in Goa.
Titagarh Waggons
A preferential issue of equity shares to Smallcap World Fund was authorised by the board of directors of Titagarh Waggons in order to raise capital in the amount of Rs 288.8 crore.
LIC, SAIL
Through a transaction that took place on the open market, the Life Insurance Corporation of India increased its holdings in the state-owned steel production company Steel Authority of India by roughly 2%.
Cochin Shipyard
The Indian Navy has given Cochin Shipyard a contract to do the MR/Mid Life Upgrade of an Indian navy ship. The work will take place at Cochin Shipyard. It is estimated that the term of the contract would be close to 24 months, and the total value of the deal is roughly Rs 300 crore.
TVS Motors, Inc.
TVS Credit Services, a subsidiary of TVS Motor Company, has completed a successful equity capital raising with Premji Invest in the amount of 480 crore rupees. In accordance with the terms of the agreement, Premji Invest would purchase additional equity shares in the amount of Rs 257 crore. After all of the main and secondary investments have been finalised, Premji Invest will have a 9.7% ownership share in TVS Credit.
Jupiter Wagons
Under the Corporate Insolvency Resolution Process (CIRP) of the Insolvency and Bankruptcy Code 2016, Jupiter Waggons has been granted permission by the National Company Law Tribunal (NCLT) in Kolkata to go through with its resolution plan to acquire a majority share in Stone India. As soon as the resolution plan is put into action, Stone India will transition into being a subsidiary of Jupiter Waggons.
The Info Edge
VLCC Health Care (VLCC) will pay Rs 61 crore to acquire the whole investment that Info Edge India has in Happily Unmarried Marketing (HUM). The transaction will entail a combination of cash and the exchange of shares, and it is anticipated that the sale will be finalised within the next two months, unless all parties agree to an extension.
