Equity Benchmark closes positively followed by Diwali Samvat 2078 Muhurat Trading on Thursday (4th November) as NIFTY settles at 17,916 while SENSEX breaches 60,067. The broader markets relatively outperformed as Nifty midcap and small cap rose 2.4% and 1.3% respectively. Sectorally, IT, Metal, PSU Bank, realty outshone while pharma relatively underperformed.
1) The Reserve Bank of India eased current account rules for bank exposures less than 5 crore, allowing lenders to open current account, cash credit and overdraft facilities without any restriction. The regulator asked banks to implement the changes within one month.
2) Brent Crude Oil prices remained lower as on Wednesday 03rd November 2021 at US$ 83.2 /barrel as compared to previous week’s closing price at US$ 84.0 /barrel.
3) Gold prices remained flat as on 03rd November 2021 at $ 1782/ounce as compared to previous week’s closing price of $ 1784/ounce.
4) Bond yields ended lower at 6.35% as compared to previous week’s closing price at 6.37%.
5) IPO Corner:
a) Nykaa IPO was subscribed 81.78 times at the end of Day 3 of bidding. It received bids for 216.59 crore shares against an offer of 2.64 crore shares. Retail investors bid 12.24 times the reserved portion.
b) Capital Small Finance Bank has filed a DRHP with SEBI for an IPO.
c) Fino Payments Bank IPO was subscribed 2.03 times at the end of Day 3 of bidding. It received bids for 2.32 crore shares against an offer of 1.15 crore shares. Retail investors bid 5.92 times the reserved portion.
d) Delhivery has filed a DRHP with SEBI for an IPO worth Rs 7,128 crore.
e) SJS Enterprises IPO was subscribed 1.59 times at the end of Day 3 of bidding. It received bids for 1.68 crore shares against an offer of 1.05 crore shares. Retail investors bid 1.38 times the reserved portion.
f) Sigachi IPO was subscribed 101.91 times at the end of Day 3 of bidding. It received bids for 54.89 crore shares against an offer of 53.86 lakh shares. Retail investors bid 80.49 times the reserved portion.
g) PolicyBazaar IPO was subscribed 16.58 times at the end of Day 3 of bidding. It received bids for 57.23 crore shares against an offer of 3.45 crore shares. Retail investors bid 3.31 times the reserved portion.
7) JSW Steel’s subsidiary, JSW Steel USA, has commenced the phase II upgrade of its plate mill facility located at Baytown in Texas, USA.
8) Axis Bank signed an MOU with the Indian Navy, offering a Defence Service Salary package with benefits and features under its ‘’Power Salute’’ initiative.
9) Vodafone Idea has partnered with two Indian startups to test 5G-based solutions on aerial traffic management and motion capture systems.
Vi and Ericsson have joined hands for developing 5G-powered healthcare use cases in rural locations of India.
10) Bandhan Bank: The RBI has authorized private lender Bandhan Bank as its agency bank for undertaking government business.
11) TCS is expanding its partnership with Malaysia’s Celcom Axiata Berhad (Celcom) to digitalize the telco’s core Business Support Systems (BSS).
12) Sun Pharmaceutical announced the availability of Winlevi cream, used for the treatment of acne vulgaris in patients 12 years and older, in the US market.
13) Goods and Service Tax (GST) collections for October, the beginning of a demand-boosting festive season, came in at Rs 1.30 lakh crore, compared with Rs 1.17 lakh crore in September, indicating strengthening economic recovery in the second half of the fiscal year 2021-22. The October GST print takes total gross GST collection for the year to Rs 8.12 lakh crore.
13) The petroleum ministry has told ONGC to give away 60% stake plus operating control in India's largest oil and gas producing fields of Mumbai High and Bassein to foreign companies, as productivity of the Mumbai High and Bassein & Satellite (B&S) offshore assets under state-owned firm was low and international partners should be invited and given 60 per cent participating interest (PI) and operatorship.
14) TVS Motor Company said it has launched its newly introduced 125 cc motorcycle TVS Raider in Nepal targetting young customers in the country.
15) ITC operated Welcomhotel has announced the launch of its 107-key property in Bhubaneswar. The company said the hotel was inaugurated by Odisha chief minister Naveen Patnaik on November 1. Next month, Welcomhotel -- the company's new-age traveller brand -- will launch another hotel in Guntur.
16) SpaceX announced the incorporation of its wholly owned Indian subsidiary, Starlink Satellite Communications Private Limited, on November 1.
17) Yes Bank announced the completion of stake sale in YES Asset Management (India) Limited and YES Trustee Limited.
18) SpiceJet: Crisil Ratings has withdrawn its 'CRISIL D' credit ratings of SpiceJet and has placed it under 'non-cooperative' category.
19) Bank of Baroda has signed a Memorandum of Understanding (MoU) with NCDEX e Markets Ltd (NEML) to become a “clearing bank” for handling financial transactions in the NeML market place and procurement/auction platform.
20) Torrent Power’s CFO told a media channel that the company plans to double their renewable generation capacity in the next 3 years.
21) Hindalco announced the acquisition of 100% equity stake in Ryker Base (Ryker) - a wholly owned subsidiary of Polycab India.
22) Ashok Leyland mentioned that it has handed over the first batch of 12 M Ultra Low Floor BS VI CNG buses to IndiGo airlines for operation at the New Delhi airport.
23) Indian Oil will be setting up 10,000 EV charging stations in the next three years, said SM Vaidya, Chairman, Indian Oil Corporation.
24) Infosys announced its strategic collaboration with Shell Global Solutions International B.V., as the commercialization partner of the "Shell Inventory Optimizer" solution.
25) HCL announces ‘First Career Programme’ for engineering freshers and other graduates to prepare them for entry-level jobs at the company.
HCL Tech announced that it has launched its Amazon Web Services (AWS) Business Unit (AWS BU) to help enterprises globally accelerate their cloud transformation journey.
26) TCS has won a contract from the Royal Academy of Engineering of Spain to develop a new innovative digital framework.
27) Cipla’s subsidiary InvaGen Pharmaceuticals has received a notice from US-based Avenue Therapeutics for termination of the acquisition deal they finalized in 2018.
28) BPCL is reportedly planning to offer EV charging stations at around 7,000 petrol pumps over next few years.
29) GAIL: The National Company Law Tribunal has approved GAIL's acquisition of IL&FS’ 26% stake in ONGC Tripura Power Company (OTPC).
30) IRCTC and the railway ministry are reportedly discussing a new revenue share model where the interest of minority shareholders will be protected.
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