The SGX Nifty 50 December futures is pointing to a slightly positive start for domestic equities on Monday. However, trade is expected to be subdued due to lower participation by foreign investors amid year-end holidays.
Additionally, the rising COVID cases in China has unnerved investors, who are expected to remain on sell mode.
NDTV: The founders of the company, Radhika Roy and Prannoy Roy, will transfer 27.26% of their stake in the company to Adani Group-owned RRPR Holding. Consequently, Adani Group will hold 64.71% stake in the news broadcaster.
Tata Motors: Subsidiary TML CV Mobility Solutions has bagged a contract from the Delhi Transport Corp to supply, operate and maintain 1,500 electric buses in the city for 12 years.
Suven Pharma: Advent International has entered into an agreement to acquire a significant stake in Suven Pharma, with its promoters the Jasti family. Post stake buy, Advent will also be making an open offer for additional 26 per cent stake, and explore merger of Suven Pharma with its portfolio firm Cohance Lifesciences.
Hotels, Travel: Shares of tourism and restaurants owners are likely to be in focus as a new variant of Covid-19 threatens to disrupt the demand. So far, India has made test compulsory for international travelers from 5 nations.
Telecom: In a significant boost to 5G network providers, the Ministry of Railways will be allowing private players to install towers on land owned by it, Business Standard has learnt. So far, this right was reserved only for its own telecom arm – RailTel Corporation of India.
Hindustan Zinc: The world’s second-largest zinc producer, is putting in place a Rs 10,000 crore blueprint that will help it accelerate its pace of decarbonisation and tap new areas for growth.
Tata Power: The private power generation company plans to raise up to Rs 2,000 crore via bonds for financing its business operations. Meanwhile, it has tied up Rs 450 crore of sustainable trade finance from Japanese banking institution MUFG (Mitsubishi UFJ Financial Group) for renewable energy projects.
Jubilant FoodWorks: Shares of Domino’s India franchise owner have underperformed in the markets post Q2 results owing to sharp cut in earnings and management’s decision to restrict price hikes. However, going ahead, aggressive store expansion, new menu choices ought to boost growth for QSR.
LIC: India’s largest insurer may take a call on composite licence clause after the passage of Insurance Laws (Amendment) Bill in Parliament, sources said. A composite licence will allow insurers to undertake general and health insurance via a single entity.
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