Nifty futures on the Singapore Exchange-traded 130 points, or 0.75 per cent higher at 17,412, signaling that Dalal Street was headed for a positive start on Monday.
Reliance Industries (RIL)
The Mukesh Ambani-led company’s retail venture – Reliance Retail Ventures (RRVL) has acquired 89 per cent stake in Purple Panda Fashions, which owns and operates the Clovia business, for an investment of Rs 950 crore. Meanwhile, over the weekend, the company’s senior official said it may avoid buying Russian fuels for its plants following Western sanctions on Moscow over its invasion of Ukraine. RIL buys Urals crude and straight-run fuel oil for its refineries from Russia.
Maruti Suzuki
Suzuki Motor, the parent company of Maruti Suzuki, plans to invest Rs 10,440 crore to build a new electric car and battery factory in India. Maruti Suzuki, which sells one in every two cars on Indian roads, is expecting to roll out affordable EV models in both Japan and India as early as 2025.
HDFC
The subsidiary of the housing finance company, HDFC Capital Advisors (HCAL), has entered into a share subscription agreement for acquisition of 3,90,666 equity shares of Loyalie IT-Solutions.
State Bank of India
The largest PSU lender has lined-up a dozen non-performing assets (NPAs) on sale to recover loan dues of over Rs 820 crore, as per the SBI‘s notifications.
Jindal Steel and Power
The homegrown steel major said its subsidiary in Mauritius has made a prepayment of USD 357 million to lenders. The prepayment will help clear the entire debt on Jindal Steel & Power (Mauritius), it said.
Ruchi Soya
The company has fixed the price band of Rs 615-650 for its follow-on public offer. The company plans to raise up to Rs 4,300 crore from the sale of shares to public. The stock last traded at Rs 1,004.45 on the BSE.
Adani Group
The group, led by Gautam Adani, has reportedly held preliminary talks on a range of potential cooperation and joint investment opportunities with Saudi Aramco and the country’s Public Investment Fund.
Future Retail
Lenders to Future Retail Ltd have abandoned plans to sue the company for the unapproved transfer of hundreds of its stores to Reliance Retail, and will instead enforce their rights through the debt recovery tribunal and bankruptcy tribunal.
Aurobindo Pharma
Blackstone has emerged as the frontrunner to acquire the wholly-owned injectables arm of Aurobindo Pharma, valuing the business at Rs 26,000-30,000 crore ($3.4-4 billion), making it arguably the largest deal in the space.
Ashok Leyland
Switch Mobility Ltd, the electric vehicle (EV) unit of Ashok Leyland Ltd, plans to raise $200-300 million in the coming months at a valuation “significantly above” the $1.6 billion at which it raised a small investment from Dana Corp. in July 2021. In the long run, Leyland will not dilute its stake below 51 per cent to remain a majority shareholder.
FMCG
Fast Moving Consumer Group companies are mulling another round of price hike to offset the impact of an unprecedented level of inflation in commodity prices such as wheat, palm oil and packaging materials.
Stocks in F&O ban
Indiabulls Housing Finance is the only stock in the F&O ban period on Monday.
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