Equity Benchmarks settled in Red this Week as NIFTY goes down to 17671 while SENSEX fell to 59,306 dragged down by Banking, Energy, and IT stocks.
Sectorally, pharma, PSU Banks relatively outperformed while financials, energy underperformed the index.
1) Tech Mahindra Ltd has acquired two companies – US based Infostar LLC (Lodestone) and London-based We Make Websites Ltd (WMW), for $105 million and 9.4 million pounds (approx. $13 million) respectively to strengthen its digital portfolio.
2) Tata Power has achieved a milestone of having more than 1,000 Electric Vehicle (EV) charging stations across the country. In addition, there are close to 10,000 home EV charging points.
3) Kotak Mahindra Bank: The Securities Appellate Tribunal (SAT) has partly stayed a Sebi order, which had directed Kotak Mahindra AMC to refund a part of the investment management and advisory fees collected by the fund house from the unitholders.
4) Eicher Motor shareholders have approved a proposal to re-appoint Siddhartha Lal as the company’s managing director for a period of five years.
5) Dr. Lal Pathlabs: The company has received approval to acquire 100% stake in Suburban Diagnostics (India) from its existing shareholders. The objective of acquisition is to strengthen the Company's presence in the western part of the country/Maharashtra. The board of directors at its meeting held on October 26, 2021 has approved the same.
6) Tata Steel has installed new 30MW generator at Tata Steel's Port Talbot site in South Wales. This will reduce its energy bill by millions of pounds every year at a time when energy prices are rocketing. The generator has been installed in a new turbine hall, as part of a wider 37 million pounds investment at the site's power station.
7) Wipro: The company has secured a multi-year contract from Kerala State Co-op Bank. As part of this multi-million-dollar strategic engagement, Wipro will implement a consolidated, common core banking system for the bank, provide over twenty allied solutions, aimed at streamlining technology adoption and enabling a superior customer experience.
Wipro has been recognized as a Leader in the Avasant High-Tech Digital Services 2021-2022 RadarView Report.
8) KEC International: Secured new orders of Rs. 1,082 crores in the transmission and distribution segment (T&D) business. The company has bagged 400 kV Transmission line order in SAARC, from Power Grid Company of Bangladesh. It also received 400 kV Transmission line order in India, from a leading private developer under Tariff Based Competitive Bidding route.
9) Dabur India Ltd said that it is foraying into the baby diapers segment as part of its strategy to expand its baby care portfolio. The company said its ‘Dabur Baby Super Pants’ with insta–absorb technology will help get 50% more absorption compared to other diapers. Japanese firm Unicharm was the first to launch underwear-shaped diapers in 2008.
10) Krishna Institute of Medical Sciences: KIMS Hospitals has executed definitive agreement to acquire a majority stake (51.07%), (as a combination of 18.52% stake through equity shares and the remainder through partly paid-up equity shares, which shall be fully paid up by April 2022 based on an agreed schedule) in Sarvejana Healthcare (Sunshine Hospitals), which own and operates hospitals in and around Hyderabad, Telangana under the brand 'Sunshine Hospitals', at an enterprise value of Rs. 730 crores. The acquisition deal is expected to be EPS accretive and provides an enhanced platform for KIMS to further strengthen its presence in the key home market of Hyderabad and Secunderabad.
11) Jubilant FoodWorks: Entered into Share Subscription agreement, Shareholders' agreement, and Share Purchase agreement on October 27, 2021 to acquire 35% stake in Hashtag Loyalty. This investment reflects the Company's intent of making strategic investments in promising start-ups and emerging businesses and is in line with the stated goal of building a multi-brand and multi-country food business powered by technology. The cost of acquisition is around Rs 24.75 crores.
12) Bharti Airtel: To avail the option of deferment of the payment of spectrum auction instalments due up to four years. The company has also sought deferment of AGR related dues by four years with immediate effect. It will consider other option offered by Department of Telecommunications within the stipulated timelines.
16) Cyient Ltd has launched its management consulting practice under the Cyient Consulting umbrella. This marks Cyient’s first step into this segment.
17) Mahindra Lifespace Developers entered into a joint development agreement (JDA) for a nearly 5 acre residential project in Mumbai Metropolitan Region. In a regulatory filing, the company informed that it has "finalised terms for a joint development on a 4.8-acre land parcel in Dahisar East."
18) Dish TV, Yes Bank: The National Company Law Tribunal (NCLT) allowed Dish TV time till November 15 to file its response in a petition filed by Yes Bank.
19) IRB Infrastructure Developers will raise funds through preferential allotments to Ferrovial unit Cintra INR Investments BV and Bricklayers Investment Pte.
20) Union Bank of India has cut the home loan rates to 6.4% for the festive season.
21) IPO Corner:
a) Paytm IPO is going to open on November 8, 2021, with a price band of Rs 2,080-2150.
b) FSN E-Commerce Ventures Limited (Nykaa): Nykaa has raised Rs. 2,395.84 crores in its anchor book allocation ahead of its IPO, from 174 anchor investors. The company has approved allotment of 2.13 crore shares at the upper price band of Rs. 1,125 per equity share. The company’s IPO opened for subscription from 28th October 2021.
Nykaa IPO was subscribed 4.82 times at the end of Day 2 of bidding. It received bids for 12.77 crore shares against an offer of 2.64 crore shares.
c) Fino Payments Bank IPO was subscribed 0.51 times at the end of Day 1 of bidding. It received bids for 58.13 lakh shares against an offer of 1.15 crore shares.
22) Four unions in IDBI Bank have written to the Finance Minister requesting that the proposed sale of their bank to private players by the government and LIC of India be stopped.
23) Maruti Suzuki is planning to widen its CNG portfolio by offering the fuel option in four more models 'very shortly', according to a senior company official.
Baleno, produced by Suzuki, has received zero stars in the crash test conducted by vehicle safety group Latin NCAP.
24) SpiceJet has decreased its domestic services to 2,995 weekly flights in the upcoming winter schedule, according to DGCA.
25) Adani Transmission has raised USD 700 million for its under-construction transmission asset portfolio through definitive agreements signed with international banks.
26) Sun Pharmaceutical launched its medicine ILUMYA in Canada. It is used in the treatment of adults with moderate-to-severe plaque psoriasis.
27) IRCTC to share 50% revenue from convenience fee with Indian Railways. The ministry of railways via letter has conveyed its decision to share the revenue earned from convenience fee collected by IRCTC in the ratio of 50:50 with effect from November 1, 2021. Till now, IRCTC has kept 100% of the convenience fee it earned from customers for providing various services. The company has announced a stock split during the first quarter.
28) Invesco, the largest shareholder in Zee Entertainment Enterprises, has approached a division bench of the Bombay High Court, challenging the injunction order passed by a single-judge bench in a petition filed by the entertainment company against the investor.
29) Infosys and energy company BP announced that they have agreed to develop and pilot an energy as a service (EaaS) solution, aimed at helping businesses improve the energy efficiency of infrastructure, and help meet their decarbonization goals. In addition, the companies have agreed to collaborate on integrating solar energy production into the campus' energy system.
30) Larsen and Toubro (L&T) has secured an up to ₹5,000 crore order for its buildings and factories business from Central Public Works Department (CPWD) to construct Common Central Secretariat Integrated Buildings 1, 2 and 3 in Plot 137, New Delhi, with a built-up area of approximately 48.11 lakh sq. ft, including its operation and maintenance.
31) The Board of Easy Trip Planners at its meeting held on 28 October 2021 has approved the acquisition of Traviate Online (Investee Company), who is a Travel B2B marketplace. The proposed acquisition will provide Easy Trip Planners access to exploring new opportunities in the Travel sector and to achieve the targets and promoting the same industry.
32) Brent Crude Oil prices closed lower at US$ 83.7 /barrel as compared to previous week’s closing price at US$ 85.3 /barrel.
33) Gold prices ended lower at $ 1797/ounce as compared to previous week’s closing price of $ 1806/ounce.
34) Banks borrowed Rs. 324 crore under the Central Bank’s marginal standing facility on Oct 27, 2021 compared to that of Oct 26, 2021 when banks borrowed Rs. 250 crore.
35) RBI announced the auction of state government securities for eleven states for a notified amount of Rs. 13,700 crore. The auction would be conducted on Nov 1, 2021.
36) Mutual funds bought equity worth Rs. 8,796.30 crore as against sale of Rs. 6,465.10 crore as on Oct 25, 2021. This led to a net purchase of Rs. 2,331.20 crore compared with a net purchase of Rs. 1,702.01 crore on Oct 22, 2021.
• Mutual funds bought debt worth Rs. 6,611.39 crore as against sale of Rs. 6,952.21 crore as on Oct 25, 2021. This led to a net sale of Rs. 340.82 crore compared with a net purchase of Rs. 1,019.48 crore on Oct 22, 2021.
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