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Nifty futures on the Singapore Exchange were trading 0.30% higher at 18,334, signalling that Dalal Street was headed for a positive start on Friday.
Asian shares were trading broadly higher today with shares in Hong Kong leading the region. The Hang Seng is up 1.35% while China’s Shanghai Composite is up 0.62% and Japan’s Nikkei 225 is up 0.24%.
Indian rupee depreciated by 6 paise to 82.79 against the US dollar on Thursday.
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Stocks in News Today
Reliance Industries: Reliance Retail Ventures subsidiary Reliance Consumer Products will acquire a 51 percent controlling stake in Lotus Chocolate Company, for Rs 74 crore, and make an open offer to acquire up to 26 percent more. The capital infusion by Reliance Consumer Products will help drive the growth and expansion of Lotus into a comprehensive confectionery, cocoa, chocolate derivatives, and related products manufacturer.
Craftsman Automation: The auto ancillary company will acquire a 76 percent stake in aluminum cylinder heads manufacturer DR Axion India for Rs 375 crore. After the completion of the transaction, DR Axion India will be a subsidiary of the company. The acquisition is expected to be completed before March 31, 2023.
Eicher Motors: The parent company of Royal Enfield will make a strategic investment of 50 million euro in Spanish electric mobility company, Stark Future SL. This investment will pave the way for a long-term partnership in collaborative research and development in electric motorcycles, technology sharing, technical licensing, and manufacturing.
NDTV: LTS Investment Fund sold 9.09 lakh shares (1.4% stake) in the company via open market transactions at an average price of Rs 339.03 per share. As of December 23, it had reduced its shareholding in the company to 5.08%, from 7.42% earlier.
Poonawalla Fincorp: Promoter entity Rising Sun Holdings has bought an additional 2.19 percent stake in Poonawalla Fincorp via open market transactions. With this, its shareholding in the company increased to 62.05 percent, up from 59.86 percent earlier.
Welspun India: The company has picked a 26 percent stake in Clean Max Thanos (CTPL) to get renewable energy under a captive structure, as a part of the ESG journey. It has paid Rs 3.8 crore for a 26 percent stake in CTPL to Cleanmax Group, and Cleanmax Group holds the remaining 74 percent shareholding. CTPL will set up a renewable energy project under the hybrid policy of the Gujarat government and the company’s Vapi factory will acquire renewable energy from the proposed project of CTPL.
HG Infra Engineering: The company has received the Letter of Award from the National Highways Authority of India (NHAI) for a road project in Haryana. The company will construct a 6-lane greenfield Karnal ring road under Bharatmala Pariyojana in Haryana on hybrid annuity mode (HAM) within 730 days, and the bid project cost is Rs 997.11 crore.
Elin Electronics: The electronics manufacturing services provider will list shares on the BSE and NSE on December 30. The issue price has been fixed at Rs 247 per share.