Handy futures on the Singapore Exchange were trading 76 points, or 0.48 percent, lower at 15,702.50, indicating Dalal Street was off to a negative start on Tuesday. The correction in global counterparts following warmer-than-expected US inflation data, a weakening rupee and FII selling pressures dented market sentiment on June 13. All sector indices closed in red with Nifty Bank, Auto, Financial Services, IT, Metal, Realty and Oil & Gas indices falling 2-4 percent. The BSE Sensex plunged 1,457 points, or 2.68 percent, to 52,847, while the Nifty50 fell 427 points, or 2.64 percent, to 15,774.
HDFC Mutual Fund acquired an additional 2.15 percent equity stake in the company on June 10 through open market operations. This increased the stake in the company to 9.21 percent, from 7.06 percent earlier.
The company has completed the acquisition of a 50 MW solar power plant from SkyPower Group in Telangana. The enterprise value for this acquisition is Rs 416 crore. The long-term power purchase agreement (PPA) for the project is with Northern Power Distribution Company of Telangana (NPDCTL) for a period of 25 years at a flat rate of approximately Rs 5.35 per kWh, with a remaining useful life of approximately 20 years.
Capri Global Capital
Life Insurance Corporation of India purchased additional 35.41 lakh shares in the company through open market operations. This increased LIC’s stake in the company to 7.059 percent, up from 5.043 percent earlier.
The company has won the contract to manufacture the escape hatch door for Airbus A220 aircraft. The contract was placed by Stelia Aeronautique Canada Inc., a subsidiary of Airbus Atlantic SAS.
The company has been awarded a contract by the Government of West Bengal to carry out a turnkey project consisting of the commissioning of a clear water reservoir and a ground level reservoir. The contract is worth Rs 430.87 crore and the same will be completed over a period of 24 months.
SBI Mutual Fund acquired additional 3.23 lakh shares in the company through open market operations. This increased its stake in the company to 5.1775 percent, from 4.9180 percent earlier.
Life Insurance Corporation of India (LIC) stock hit a new record low after the lock-in period for anchor investors in the company’s IPO ended on June 13. The stock ended at a record low of Rs 668.20 on the BSE, down 5.85 percent from its previous close. It opened at Rs 691.
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