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Automobile stocks across the spectrum will remain in focus as auto companies are due to disclose their monthly sales figures. Experts expect the numbers to remain robust due to Diwali sales.
Adani Power on Monday said the timeline for completion of the ₹7,017-crore deal to acquire thermal power assets of DB Power Ltd has been extended by one month till November 30, 2022. “The parties (Adani Power and DB Power) to the proposed transaction have mutually agreed to extend the long stop date as 30th November 2022, for achieving the closing/ completion,” a BSE filing said.
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With return of FPIs as buyers, analysts say limited downside for marketsAccording to media reports, Bain Capital will take a 1.24 per cent stake in Axis Bank (worth ₹3,500 crore) on Tuesday through block deals. The floor price has been fixed at ₹888 per share, a discount of 2 per cent to Monday’s closing price of ₹906.
Realty firm Shriram Properties Ltd and ASK Property Fund have agreed to set up a Rs 500-crore investment platform to acquire housing projects. Both companies have signed a Memorandum of Understanding (MoU) to set up the investment platform for acquisition of residential real estate projects.
Life Insurance Corporation of India (LIC) has raised its stake in Capri Global Capital by 2 per cent over the last few months at an investment of Rs 257.37 crore. Its shareholding in Capri Global has increased from 1,24,00,000 to 1,59,51,171 equity shares, increasing its stake from 7.052 per cent to 9.072 per cent of the paid-up capital of the company, LIC said in a regulatory filing on Monday.
Glenmark Pharmaceuticals Inc (USA) , subsidiary of Glenmark Pharmaceuticals, has launched Fingolimod capsules, 0.5 mg, the generic version of Gilenya1 Capsules, 0.5 mg, of Novartis Pharmaceuticals Corporation. According to IQVIA sales data for the 12-month period ended September 2022, the Gilenya Capsules, 0.5 mg market achieved annual sales of approximately $1.8 billion.
RMC Switchgears has received a ₹230.2-crore Letter of Award from the Maharashtra State Electricity Distribution Company under its EPC division. The project will be completed in 12-18 months.
Results Calendar: Adani Ports and Special Economic Zone, Chambal Fertilisers & Chemicals, Cholamandalam Investment and Finance Company, CMS Info Systems, Dhanuka Agritech, FSN E-Commerce Ventures (Nykaa), JK Tyre & Industries, Kansai Nerolac Paints, Karnataka Bank, LIC Housing Finance, Macrotech Developers, Punjab National Bank, Sun Pharmaceutical Industries, Tata Investment Corporation, Tech Mahindra, UPL, Varun Beverages, Voltas, and Whirlpool of India
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