Market View 30th August 2023

Asian markets:

ADR Watch:

Commodities & Currency:

FIIs & DIIs:

News Update:

Zomato: SoftBank Group’s affiliate SVF Growth Singapore will sell a 1.17% stake in the company for at least Rs 940 crore. SVF Growth Singapore will sell 10 crore shares at a floor price of Rs 94 apiece, representing a 0.7% discount on Tuesday’s closing price.

MPS: Its subsidiary MPS Interactive Systems will acquire a 65% stake in Australia-based Liberate Group entities for AUD 9.32 million. The entities include Liberate Learning, Liberate eLearning, App-eLearn, and Liberate Learning (New Zealand). The remaining 35% shareholding will be acquired by MPSi in subsequent tranches.

ONGC: Company will invest about Rs 2 lakh crore to achieve zero carbon emissions by 2038, its chairman Arun Kumar Singh said on Tuesday. It will invest Rs 1 lakh crore by 2030 in setting up 10 gigawatts of renewable energy capacity, green ammonia plant, and offshore wind energy projects, the remaining would be used to achieve Scope-1 and 2 net zero carbon emissions.

Lupin: The drugmaker’s Canada unit launched Propranolol LA (long-acting) capsules in 60 mg, 80 mg, 120 mg, and 160 mg.

GR Infraprojects: Two wholly owned subsidiaries have executed a concession agreement with the National Highways Authority of India for two projects in Karnataka worth a total of Rs 1,457 crore.

SBFC Finance: The company reported a standalone net profit of Rs 47 crore for the quarter ended June. Net interest income stood at Rs 141 crore.

HCL Tech: The company announced an exclusive preferred professional services agreement with Cloud Software Group to help implement, upgrade, modernise, and provide services for all TIBCO products for enterprise customers across the globe.

IndiaMart: The company submitted a Letter of Offer for the buyback of 12.5 lakh shares of face value of Rs 10 each not exceeding Rs 500 crore by way of tender offer on a proportionate basis.

Source: Moneycontrol, Bloomberg Quint, Investing 

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