Market View 27th September 2022

Asian markets:

ADR Watch:

Commodities & Currency:

FIIs & DIIs:

News Update:

Jubilant FoodWorks: Completed the acquisition of 29.42% stake in Roadcast Tech Solutions as per a July agreement. It will will acquire an additional 10.58% stake in Roadcast Tech by Oct. 26.

Mahindra Logistics: Agreed to acquire Rivigo’s B2B express cargo service unit on a slump-sale basis, in a deal valued at Rs 225 crore.

Jyoti Structures: The company has secured a Rs 237-crore contract from Sterlite Power Transmission for turnkey supply and construction of 400 kV and 220 kV double-circuit transmission lines in Goa and Karnataka. These will be commissioned in a phased manner by December 2023 and July 2024.

JSW Energy: India Ratings has upgraded the company’s long-term facilities to ‘IND AA/Stable’ from ‘IND AA-/Stable’.

Amara Raja Batteries: Approved demerger of plastic component for battery business from Mangal Industries Ltd. to Amara Raja. MIL shareholders will receive 65 shares of Amara Raja for every 74 shares held.

Filatex India: Commissioned a project for debottlenecking melt capacity of 50 million tonnes per day and manufacturing lines of 120 million tonnes per day at its Dahej plant.

Embassy REIT: Blackstone seeks to raise up to Rs 2,650 crore ($325 million) by selling 7.7 crore shares at Rs 345 apiece.

BSE: The stock exchange has received SEBI’s approval to launch an electronic gold receipt segment on its platform. Delta Corp/Nazara Tech: The Tamil Nadu cabinet has approved an ordinance that bans online gaming in the state.

Source: Moneycontrol, Bloomberg Quint, Investing

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