The January futures contract of the Nifty 50 on the Singapore Exchange is pointing to a muted start for domestic equities on Wednesday. The contract was trading at 17,995.50, up 9.5 points or 0.05% from the previous close.
Tata Motors: The company has completed the acquisition of Ford India’s manufacturing plant at Sanand through its subsidiary. In August last year, the company had announced that its arm Tata Passenger Electric Mobility Ltd (TPEML) would acquire Ford India Pvt Ltd’s (FIPL) Sanand plant, Gujarat for Rs 725.7 crore.
Adani Wilmar: The company in its Q3 business update to the BSE, said the edible oil segment recorded volume growth in ‘high-single-digit’, food & FMCG in ‘high-20s’ and industry essentials over 40 per cent.
Sona BLW Precision: The stock was up almost 6 per cent on Tuesday after the acquisition of a 54 per cent stake in Serbia-based Novelic. However, brokerages are neutral on the stock given near term challenges and valuations.
CPSEs: The government may add small- and mid-cap central public sector enterprises (CPSEs) to its list of disinvestment for the next financial year. Further, government officials hinted that efforts were being taken to conclude Shipping Corp and BEML stake sale by March.
Sigachi Industries: The company’s board on Tuesday approved an increase in authorsied share capital from Rs 32 crore to Rs 42 crore by way of issue of up to 1.10 crore convertible warrants to the promoters at Rs 285.30 per share.
PC Jeweller: The company reported a 38 per cent growth in its Q3 business update, with a turnover of Rs 829.10 crore as against Rs 600.18 crore in the year ago period.
Bank of Baroda: The state-run bank has hiked the marginal cost of funds-based lending rate (MCLR) by up to 35 bps across tenors with effect from January 12.
Axis Bank: After receiving a rap from Irdai, Axis Bank has entered into revised agreements with Max Financial Services to acquire the balance 7 per cent equity in Max Life Insurance at fair market value.
Uttam Sugar Mills: The company has increased its distillery capacity for ethanol from 150 KLPD to 250 KLPD at Barkartpur plant, and cane crushing capacity from 23,750 TCD to 26,200 TCD.
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