Handy futures on the Singapore Exchange traded 130 points, or 0.75 percent higher at 17,412, indicating Dalal Street was off to a positive start on Monday.
Reliance Industries (RIL)
The Mukesh Ambani-led retail venture – Reliance Retail Ventures (RRVL) has acquired an 89 percent stake in Purple Panda Fashions, which owns and operates the Clovia business, for an investment of Rs 950 crore. Meanwhile, the company’s senior official said over the weekend it might avoid Russian fuels for its factories following Western sanctions against Moscow over its invasion of Ukraine. RIL buys crude and direct fuel oil from the Urals for its refineries from Russia.
Maruti Suzuki
Suzuki Motor, the parent company of Maruti Suzuki, plans to invest Rs 10,440 crore to build a new electric car and battery factory in India. Maruti Suzuki, which sells one in two cars on Indian roads, expects to introduce affordable EV models in both Japan and India as early as 2025.
HDFC
The subsidiary of the housing finance company, HDFC Capital Advisors (HCAL), has entered into a share subscription agreement to acquire 3,90,666 shares of Loyalie IT-Solutions.
National Bank of India
The largest PSU lender has put up a dozen non-performing assets (NPAs) for sale to recover loan rights of more than Rs 820 crore, according to the SBI’s notices.
Jindal steel and strength
The homegrown steel giant said its subsidiary in Mauritius has made a $357 million upfront payment to lenders. The prepayment will help to pay off the entire debt on Jindal Steel & Power (Mauritius), it said.
Ruchi Soy
The company has set the price range of Rs 615-650 for its follow-up offering. The company plans to raise up to Rs 4,300 crore from the sale of shares to the public. The stock last traded at Rs 1,004.45 on the BSE.
Adani Group
The group, led by Gautam Adani, has reportedly held preliminary talks on a range of potential cooperation and joint investment opportunities with Saudi Aramco and the country’s Public Investment Fund.
Future Retail
Lenders to Future Retail Ltd have abandoned plans to sue the company for the unapproved transfer of hundreds of its stores to Reliance Retail, and will instead enforce their rights through debt collection and bankruptcy courts.
Aurobindo Pharma
Blackstone has emerged as the frontrunner to acquire the entire injectables arm of Aurobindo Pharma, valuing the company at Rs 26,000-30,000 crore ($3.4-4 billion), making it arguably the largest deal in the space.
Ashok Leyland
Switch Mobility Ltd, the electric vehicle (EV) unit of Ashok Leyland Ltd, plans to raise $200-300 million in the coming months at a valuation “significantly above” the $1.6 billion it hit in July. small investment from Dana Corp. picked up. 2021. In the long run, Leyland will not dilute its stake below 51 percent to remain a majority shareholder.
FMCG
Fast Moving Consumer Group companies are considering another round of price hikes to offset the impact of an unprecedented level of inflation in commodity prices such as wheat, palm oil and packaging materials.
Stocks in F&O Ban
Indiabulls Housing Finance is the only stock in the F&O ban on Monday.
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