The Nifty futures contract, traded on the Singapore Stock Exchange, points to a positive start for domestic equities. The contract traded at 17,811, up 11 points, or 0.06 percent, from the previous close.
“The global market has slipped back into the grips of uncertainty as the Fed chair signaled the possibility of a longer and faster rate hike, contradicting a dovish comment made by another Fed official last week. The market is now expecting a 50 basis point rate hike, which has pushed the dollar index to a three-month high. However, towards the end of the day, a strong recovery was seen in the domestic market, which kept the bulls moving,” said Vinod Nair, Head of Research, Geojit Financial Services.
The largest domestic lender raised Rs 3,717 crore through its third Basel III compliant Additional Tier 1 bond issuance in the current fiscal year at a coupon of 8.25%. The bond proceeds will be used to increase additional Tier 1 capital, the overall capital base and to strengthen the Bank’s capital adequacy.
Kalyani Powertrain, a wholly owned subsidiary, has inaugurated its first e-bike manufacturing facility. The facility has a production capacity of 60,000 units per year and is scalable to 100,000 units per year. It will assemble e-bikes for Tork Motors, in which Kalyani Powertrain has a 64.29% stake.
Adani Enterprises, Adani Power, Adani Wilmar
Three Adani Group stocks have been replaced by the National Stock Exchange of India (NSE) under the additional surveillance measure. This update comes days after the group’s flagship, Adani Enterprises, was removed from the short-term additional surveillance framework.
The acquisition plan to acquire 100% of the shares in Tineta Pharma has not materialized. As a result, the Company’s share purchase agreement with Tineta and its promoters has been terminated.
As part of the Company’s acquisition of Andhra Cements (ACL), the board of ACL was dissolved and re-formed with members of the board of Sagar Cement. The company explained that after the re-establishment, ACL became a subsidiary of Sagar Cements.
Aptus Value home financing
The company has denied reports that Chola Invest would like to take a majority stake in the company.
Jubilant Pharmova announced that the USFDA Notice assigns a Voluntary Action Indicated inspection classification for its API manufacturing facility.
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