Stocks to watch: Benchmark indices Sensex and Nifty may open higher on Thursday in line with strong performance in global markets. GIFT Nifty futures are also indicating a positive start and are at 24,883 levels, 85 points higher than Nifty 50 futures.
The Bank of Korea has maintained its benchmark interest rate at 3.5 per cent as expected. When the central bank will cut interest rates further will depend on its future statements.
Zomato
Zomato will acquire Paytm's entertainment ticket business for Rs 2,048 crore. The transaction also includes a transition service agreement. Under this, the ticketing business will be run on the Paytm app itself for 12 months. Under the deal, 280 employees of Paytm will also move to Zomato.
Alkem Laboratories
:The promoters of Alkem Laboratories are set to sell 0.7 per cent stake, equivalent to 8.5 lakh shares, through a block deal. The minimum price for these shares has been fixed at Rs 5616, which represents a discount of 3 per cent to the current market price.
BEML
BEML has signed a strategic partnership with the Indian Navy to manufacture advanced marine equipment for defense. The deal aims to enhance BEML's capabilities in defense-related marine technologies and promote indigenous design and development of critical marine equipment and systems.
India Grid Trust: Sponsor Esoteri
India Grid Trust: Sponsor Esoteric II Pte plans to sell 17.32 per cent stake through an Offer for Sale (OFS) on August 22-23, 2024. The OFS consists of a base offer of 9.66 per cent and an oversubscription option of 7.66 per cent. The minimum price for the offer has been fixed at Rs 132 per share, with non-retail investors participating on August 22 and retail investors on August 23.
Kalyan Jewellers
Promoter TS Kalyanaraman will increase his stake in Kalyan Jewellers by 2.36 per cent by buying shares from Hydel Investment at Rs 535 per share. With this, his stake will increase from 21 per cent to 23.36 per cent, taking the combined stake of the promoter and promoter group from 60.59 per cent to 62.95 per cent.
Paras Defence and Space Technologies:
The Department for Promotion of Industry and Internal Trade (DPIIT) has granted Paras Defence an industrial licence to manufacture various defence-related products including infrared and thermal imaging equipment, electro-optics systems, radar systems and border security surveillance systems in Navi Mumbai.
Muthoot Capital
Muthoot Capital will consider raising up to Rs 50 crore through a debt issue on August 24. The decision is part of its strategy to strengthen its financial resources.
Welspun Enterprises
Welspun Michigan Engineers, a subsidiary of Welspun Enterprises, has received a letter of acceptance (LOA) from the Brihanmumbai Municipal Corporation (BMC) for rehabilitating human-entered sewers in Mumbai suburbs using trenchless technology. The Rs 159.75 crore contract is to be completed within 24 months, excluding monsoon season.
Sun Pharma
Sun Pharma has entered into an agreement with Pharmaz Inc. under which it will invest up to $15 million in the company.
Awfis Space Solution
The company is expanding its business in Bengaluru by unveiling a 66,846 sq ft premium workspace.
Zomato, Paytm
The Zomato operator has approved a share purchase deal with Paytm operator One 97 Communications to acquire its entertainment and ticketing business.
Coal India
said that it is actively pursuing exploration of special minerals including Lithium in the domestic market and abroad.
Zen Technologie
Zen Technologies has launched a Qualified Institutional Placement (QIP) with an issue size of Rs 800 crore.
BEML
State-owned BEML signs MoU with Indian Navy's Directorate of Marine Engineering to develop advanced marine applications for conservation.
IREDA
IREDA Indian Renewable Energy Development Agency (IREDA) August 29 will consider raising funds up to Rs 4,500 crore through FPO/QIP/rights issue/preferential issue/other methods.
Welspun Enterprises
Welspun Enterprises' branch Welspun Michigan Engineers Institute received letter of approval (LoA) for a project worth Rs 159.75 crore from BMC.
Alkem Lab
Promoter Alkem Laboratories is likely to sell 0.7 per cent stake through the Alkem Lab block deal. According to the report, the price has been fixed at Rs 5,616 by giving a discount of 3 percent on the current market price.
India Grid
Trust sponsor Esoteric II Pte is selling 17.32 per cent of India Grid Trust's capital through offer for sale (OFS). The floor price would have been fixed at Rs 132 per share. Cyient promoter Cyient Ltd on Wednesday sold a partial stake in its listed subsidiary Cyient DLM through a Bhandwal block deal. According to exchange data, Saiyan has offloaded about 1.14 crore shares amounting to 14.5% of the company's capital.
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