Market View 27th May, 2024

ADR Watch:

Commodities & Currency:

FIIs & DIIs:

News Update:

Indian Oil Corporation: The company acquired a 100% stake in Mercator Petroleum for Rs 154 crore.

TVS Motor Company: The company announced the launch of the TVS HLX 125 with 5-gears in Tanzania.

NTPC: The company’s Q4 coal plant PLF was at 79.77% vs. 80.32% YoY, Q4 commercial generation was at 92.967 BU vs. 89.445 BU YoY and Q4 captive mine coal output at 7.87 MT vs 6.48 MT YoY. The company gave in-principle approval for incorporation of a wholly owned subsidiary company for undertaking Nuclear Energy Business, subject to the approval of its administrative Ministry.

Godrej Properties: The company clarified on the reports on the Mumbai project that it has not received communication from any concerned authority citing non-compliance.

Tata Steel: The NCLT of Kolkata Bench approved the scheme of amalgamation with Indian Steel & Wire Products The approval is pending from the Mumbai NCLT bench.

RVNL: The company emerged as the lowest bidder for the construction project worth Rs 187 crore from MMRCL.

Vodafone Idea: The deal to sell Firefly Networks’ stake to Manipura Digital Infrastructure is terminated due to non-fulfillment of certain conditions.

Bosch: The company approved the sale of OE/OES diagnosis business from Mobility Aftermarket to ETAS Automotive for Rs 45.6 crore.

Macrotech Developers: The company acquired the remaining 50% stake of Siddhivinayak Realties arm for Rs 415.6 crore.

Dr Reddy’s: The company’s Russia-based arm in a pact with Novartis Pharma to sell anti-diabetes products in Russia.

Sparc: The board approved raising Rs 1,800 crore and accepted the resignation of CFO Chetan Rajpara effective June 5 and appointed Anup Rathi as CFO effective June 6.

Source: Moneycontrol, Bloomberg Quint, Investing 

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