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IRFC, Vodafone Idea, and Other Major Companies Set to Report Q1 Results Today

Today is a pivotal day on Dalal Street as the earnings season reaches its peak, with more than 500 companies scheduled to announce their Q1 results. Among the notable companies reporting today are Indian Railway Finance Corporation (IRFC), Vodafone Idea, Alembic, Balrampur Chini Mills, Bajaj Hindusthan Sugar, Happiest Minds Technologies, NCC, and NMDC.

IRFC’s Performance

Indian Railway Finance Corporation (IRFC) is particularly in focus as it unveils its Q1 FY 25 results. The company had reported a 6.3% decline in net profit during Q1 FY 24, amounting to ₹1,556.6 crore. Investors are keen to see how the company has fared in the current fiscal year and whether it has managed to reverse its previous downturn.

IRFC’s IPO was launched on January 18, 2021, with the company getting listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on January 29, 2021. This marked a significant milestone for IRFC, transitioning it from a public sector undertaking to a publicly traded company, which opened new avenues for capital raising and market engagement.

Other Major Announcements

In addition to IRFC, Vodafone Idea and Alembic are among the high-profile companies reporting their Q1 performance. Other companies to watch include Balrampur Chini Mills, Bajaj Hindusthan Sugar, and Happiest Minds Technologies. These reports are crucial for investors seeking to understand sectoral trends and the overall economic health.

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What’s on the Agenda for Brainstorm Tech 2019: Term Sheet

Good morning from Aspen! Fortune’s Brainstorm Tech conference kicks off today. You can watch the mainstage panels here starting at 2 p.m. Mountain Time (4 p.m. EST), and you’ll hear from:

— Doug McMillon, CEO of Walmart: As the world’s largest retailer, what do you do to stay there? Online, digitally enabled brick and mortar stores, organic food, pick-up and delivery, massive advertising—how do you keep up?

— Jamie Siminoff, founder of Ring: Ring went from Shark Tank rejection to Amazon acquisition. The CEO, who, during his “midlife entrepreneurial crisis” created the first Wi-Fi video doorbell in his garage, will share what he’s learned along the way.

— Katrina Lake, founder and CEO of StitchFix: In 2017, Katrina Lake took her company public. But first she spent years building her business, wisely leveraging data in the fickle retail and fashion worlds, and developing a sustainable new model in a highly competitive industry. How does she keep honing it to stay ahead?

… and many more. I’ll provide a synopsis tomorrow for those who are interested in reading further.

LIBRA HEARINGS: Politicians haven’t exactly welcomed Facebook’s Libra project with open arms. Politicians on both sides have expressed skepticism that Facebook can be trusted with a digital currency. Even President Donald Trump tweeted that Libra could threaten the power and dominance of the dollar.

Facebook has said repeatedly that it plans to work with regulators to get Libra off the ground, and David Marcus, the Facebook executive who has spearheaded the Libra effort, will testify before multiple congressional committees this week. Marcus is scheduled to testify before the Senate banking committee on Tuesday and the House financial services committee on Wednesday. He will likely be asked about privacy, money laundering, consumer protection and the stability of the financial system, all issues lawmakers say Libra raises.

Marcus wrote in a blog post last week that he wants to “ensure that Libra helps with the kinds of issues that the existing financial system has been fighting, notably around money laundering, terrorism financing, and more. Stay tuned because this will be one story to watch closely.

VENTURE DEALS

– Amperity, a Seattle-based AI-powered customer data management platform, raised $50 million in Series C funding. Investors include Tiger Global Management, Goldman Sachs, Declaration Partners, Madera Technology Partners, Madrona Venture Group, and investor Lee Fixel.

– NewsCred, a New York-based enterprise content marketing platform, raised $20 million in funding. InterWest Partners led the round.

– nTopology, a New York-based company building engineering software for advanced manufacturing, raised $20 million. Canaan led the round.

– AllBright, a London-based funding and education network, raised £13 million ($16.3 million) in funding at a £100 million ($125 million) valuation. Cain International led the round.

– Exyn Technologies Inc, a Philadelphia-based developer of autonomous robot systems, raised $16 million in Series A funding. Centricus led the round, and was joined by investors including Yamaha Motors Ventures, In-Q-Tel, Corecam Family Office, Red and Blue Ventures and IP Group Inc.

– Paragraf, a U.K.-bases graphene-based electronics technology company, raised £12.8 million ($16  million) in Series A funding. Parkwalk led the round, and was joined by investors including IQ Capital Partners, Amadeus Capital Partners and Cambridge Enterprise, and the commercialisation arm of the University of Cambridge.

– Igloohome, a Singapore-based smart access company, raised $15 million in funding. Insignia Ventures Partners, Wavemaker Partners and SEEDS Capital led the round.

– Hero Labs, a London-based startup developing technology to help prevent water leaks in U.K. properties, raised £2.5 million ($3.1 million) in seed funding. Earthworm Group led the round. 

– Mahmee, a Los Angeles-based provider of personalized, ongoing postpartum support to new moms, raised $3 million in seed funding. Investors include Marc Cuban and Serena Williams.

PRIVATE EQUITY DEALS

– Autokiniton Global Group),  a portfolio company of KPS Capital Partners, agreed to acquire Tower International, Inc. (NYSE: TOWR) for $31 per share in cash. The total value of the transaction is approximately $900 million. 

– Drilling Tools International, Inc, a portfolio company of Hicks Equity Partners, acquired WellFence LLC, a tech-enabled security and credentialing service offering for the oil and gas industry. Financial terms weren’t disclosed.

– Carousel Capital recapitalized Armstrong Transport Group LLC, a Charlotte, N.C.-based provider of freight brokerage solutions. Financial terms weren’t disclosed. 

– Yak Access LLC, a portfolio company of Platinum Equity, acquired Klein’s Restoration Services, a Canton, Ohio-based provider of services including restoration, matting, site development and construction, and traffic control solutions, primarily to the powerline industry. Financial terms weren’t disclosed. 

– Valet Living acquired WasteRetriever, a Greenwood Village, Colo.-based doorstep trash and recycling collection company. Financial terms weren’t disclosed. 

– Acorn Growth Companies acquired Black Sage Technologies, a Boise, Idaho-based provider of counter-unmanned aircraft systems solutions. Financial terms weren’t disclosed.

OTHER DEALS

– Blackstone Group Inc. and Kirkbi AS are exploring a sale of Armacell International, the maker of specialized insulation products used by the International Space Station, according to Bloomberg. The deal could value the company at about 1.5 billion euros ($1.7 billion).. Read more.

IPOs

– AB InBev, the beer maker, pulled the Hong Kong listing of its Asia unit in what would’ve been the largest listing of the year. Read more.

– CloudMinds, a Beijing-based provider of cloud AI solutions for robots, filed for a $500 million in an initial public offering. The firm posted revenue of $121 million in 2018 and loss of $160.4 million. Softbank backs the firm. The plans to list on the NYSE as “CMDS.” Read more.

– Wanda Sports Group, a Beijing-based sporting and live events firm spinning out of Dalian Wanda Group, plans to raise $450 million in an IPO of 33.3 million shares (40% insider) priced between $12 to $15. It booked $1.3 billion in 2018 and income of $61.9 million. It plans to list on the Nasdaq as “WSG.” Read more.

– OneWater Marine, a Buford, Ga.-based recreational boat retailer, filed for an $100 million. The firm posted revenue of $603 million in the year ending Sept. 2018 and income of $1.1 million. One Water Ventures, LMI Holdings, and Goldman Sachs back the firm. It plans to list on the Nasdaq under an undisclosed symbol. Read more.

EXITS

– WPP Plc agreed to sell 60% of Kantar, WPP’s global data, research, consulting and analytics business, to Bain Capital for $3.1 billion. 

– Equistone agreed to acquire FirstPort, a U.K.-based residential property management company. The sellers are Epiris and Chamonix Private Equity. Financial terms weren’t disclosed. 

– Aspen Technology, Inc. (NASDAQ: AZPN) agreed to acquire Mnubo Inc., a Montreal-based provider of purpose-built artificial intelligence and analytics infrastructure for the internet of things. Financial terms weren’t disclosed. Mnubo Inc had raised approximately CA $22.5 million ($17.2 million) in funding from investors including White Star Capital, McRock Capital, and Munich Reinsurance.

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The post What’s on the Agenda for Brainstorm Tech 2019: Term Sheet appeared first on WeeklyReviewer.

from WeeklyReviewer https://weeklyreviewer.com/whats-on-the-agenda-for-brainstorm-tech-2019-term-sheet/?utm_source=rss&utm_medium=rss&utm_campaign=whats-on-the-agenda-for-brainstorm-tech-2019-term-sheet from WeeklyReviewer https://weeklyreviewer.tumblr.com/post/186304267747

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What’s on the Agenda for Brainstorm Tech 2019: Term Sheet

Good morning from Aspen! Fortune’s Brainstorm Tech conference kicks off today. You can watch the mainstage panels here starting at 2 p.m. Mountain Time (4 p.m. EST), and you’ll hear from:

— Doug McMillon, CEO of Walmart: As the world’s largest retailer, what do you do to stay there? Online, digitally enabled brick and mortar stores, organic food, pick-up and delivery, massive advertising—how do you keep up?

— Jamie Siminoff, founder of Ring: Ring went from Shark Tank rejection to Amazon acquisition. The CEO, who, during his “midlife entrepreneurial crisis” created the first Wi-Fi video doorbell in his garage, will share what he’s learned along the way.

— Katrina Lake, founder and CEO of StitchFix: In 2017, Katrina Lake took her company public. But first she spent years building her business, wisely leveraging data in the fickle retail and fashion worlds, and developing a sustainable new model in a highly competitive industry. How does she keep honing it to stay ahead?

… and many more. I’ll provide a synopsis tomorrow for those who are interested in reading further.

LIBRA HEARINGS: Politicians haven’t exactly welcomed Facebook’s Libra project with open arms. Politicians on both sides have expressed skepticism that Facebook can be trusted with a digital currency. Even President Donald Trump tweeted that Libra could threaten the power and dominance of the dollar.

Facebook has said repeatedly that it plans to work with regulators to get Libra off the ground, and David Marcus, the Facebook executive who has spearheaded the Libra effort, will testify before multiple congressional committees this week. Marcus is scheduled to testify before the Senate banking committee on Tuesday and the House financial services committee on Wednesday. He will likely be asked about privacy, money laundering, consumer protection and the stability of the financial system, all issues lawmakers say Libra raises.

Marcus wrote in a blog post last week that he wants to “ensure that Libra helps with the kinds of issues that the existing financial system has been fighting, notably around money laundering, terrorism financing, and more. Stay tuned because this will be one story to watch closely.

VENTURE DEALS

– Amperity, a Seattle-based AI-powered customer data management platform, raised $50 million in Series C funding. Investors include Tiger Global Management, Goldman Sachs, Declaration Partners, Madera Technology Partners, Madrona Venture Group, and investor Lee Fixel.

– NewsCred, a New York-based enterprise content marketing platform, raised $20 million in funding. InterWest Partners led the round.

– nTopology, a New York-based company building engineering software for advanced manufacturing, raised $20 million. Canaan led the round.

– AllBright, a London-based funding and education network, raised £13 million ($16.3 million) in funding at a £100 million ($125 million) valuation. Cain International led the round.

– Exyn Technologies Inc, a Philadelphia-based developer of autonomous robot systems, raised $16 million in Series A funding. Centricus led the round, and was joined by investors including Yamaha Motors Ventures, In-Q-Tel, Corecam Family Office, Red and Blue Ventures and IP Group Inc.

– Paragraf, a U.K.-bases graphene-based electronics technology company, raised £12.8 million ($16  million) in Series A funding. Parkwalk led the round, and was joined by investors including IQ Capital Partners, Amadeus Capital Partners and Cambridge Enterprise, and the commercialisation arm of the University of Cambridge.

– Igloohome, a Singapore-based smart access company, raised $15 million in funding. Insignia Ventures Partners, Wavemaker Partners and SEEDS Capital led the round.

– Hero Labs, a London-based startup developing technology to help prevent water leaks in U.K. properties, raised £2.5 million ($3.1 million) in seed funding. Earthworm Group led the round. 

– Mahmee, a Los Angeles-based provider of personalized, ongoing postpartum support to new moms, raised $3 million in seed funding. Investors include Marc Cuban and Serena Williams.

PRIVATE EQUITY DEALS

– Autokiniton Global Group),  a portfolio company of KPS Capital Partners, agreed to acquire Tower International, Inc. (NYSE: TOWR) for $31 per share in cash. The total value of the transaction is approximately $900 million. 

– Drilling Tools International, Inc, a portfolio company of Hicks Equity Partners, acquired WellFence LLC, a tech-enabled security and credentialing service offering for the oil and gas industry. Financial terms weren’t disclosed.

– Carousel Capital recapitalized Armstrong Transport Group LLC, a Charlotte, N.C.-based provider of freight brokerage solutions. Financial terms weren’t disclosed. 

– Yak Access LLC, a portfolio company of Platinum Equity, acquired Klein’s Restoration Services, a Canton, Ohio-based provider of services including restoration, matting, site development and construction, and traffic control solutions, primarily to the powerline industry. Financial terms weren’t disclosed. 

– Valet Living acquired WasteRetriever, a Greenwood Village, Colo.-based doorstep trash and recycling collection company. Financial terms weren’t disclosed. 

– Acorn Growth Companies acquired Black Sage Technologies, a Boise, Idaho-based provider of counter-unmanned aircraft systems solutions. Financial terms weren’t disclosed.

OTHER DEALS

– Blackstone Group Inc. and Kirkbi AS are exploring a sale of Armacell International, the maker of specialized insulation products used by the International Space Station, according to Bloomberg. The deal could value the company at about 1.5 billion euros ($1.7 billion).. Read more.

IPOs

– AB InBev, the beer maker, pulled the Hong Kong listing of its Asia unit in what would’ve been the largest listing of the year. Read more.

– CloudMinds, a Beijing-based provider of cloud AI solutions for robots, filed for a $500 million in an initial public offering. The firm posted revenue of $121 million in 2018 and loss of $160.4 million. Softbank backs the firm. The plans to list on the NYSE as “CMDS.” Read more.

– Wanda Sports Group, a Beijing-based sporting and live events firm spinning out of Dalian Wanda Group, plans to raise $450 million in an IPO of 33.3 million shares (40% insider) priced between $12 to $15. It booked $1.3 billion in 2018 and income of $61.9 million. It plans to list on the Nasdaq as “WSG.” Read more.

– OneWater Marine, a Buford, Ga.-based recreational boat retailer, filed for an $100 million. The firm posted revenue of $603 million in the year ending Sept. 2018 and income of $1.1 million. One Water Ventures, LMI Holdings, and Goldman Sachs back the firm. It plans to list on the Nasdaq under an undisclosed symbol. Read more.

EXITS

– WPP Plc agreed to sell 60% of Kantar, WPP’s global data, research, consulting and analytics business, to Bain Capital for $3.1 billion. 

– Equistone agreed to acquire FirstPort, a U.K.-based residential property management company. The sellers are Epiris and Chamonix Private Equity. Financial terms weren’t disclosed. 

– Aspen Technology, Inc. (NASDAQ: AZPN) agreed to acquire Mnubo Inc., a Montreal-based provider of purpose-built artificial intelligence and analytics infrastructure for the internet of things. Financial terms weren’t disclosed. Mnubo Inc had raised approximately CA $22.5 million ($17.2 million) in funding from investors including White Star Capital, McRock Capital, and Munich Reinsurance.

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The post What’s on the Agenda for Brainstorm Tech 2019: Term Sheet appeared first on WeeklyReviewer.

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What’s on the Agenda for Brainstorm Tech 2019: Term Sheet

Good morning from Aspen! Fortune’s Brainstorm Tech conference kicks off today. You can watch the mainstage panels here starting at 2 p.m. Mountain Time (4 p.m. EST), and you’ll hear from:

— Doug McMillon, CEO of Walmart: As the world’s largest retailer, what do you do to stay there? Online, digitally enabled brick and mortar stores, organic food, pick-up and delivery, massive advertising—how do you keep up?

— Jamie Siminoff, founder of Ring: Ring went from Shark Tank rejection to Amazon acquisition. The CEO, who, during his “midlife entrepreneurial crisis” created the first Wi-Fi video doorbell in his garage, will share what he’s learned along the way.

— Katrina Lake, founder and CEO of StitchFix: In 2017, Katrina Lake took her company public. But first she spent years building her business, wisely leveraging data in the fickle retail and fashion worlds, and developing a sustainable new model in a highly competitive industry. How does she keep honing it to stay ahead?

… and many more. I’ll provide a synopsis tomorrow for those who are interested in reading further.

LIBRA HEARINGS: Politicians haven’t exactly welcomed Facebook’s Libra project with open arms. Politicians on both sides have expressed skepticism that Facebook can be trusted with a digital currency. Even President Donald Trump tweeted that Libra could threaten the power and dominance of the dollar.

Facebook has said repeatedly that it plans to work with regulators to get Libra off the ground, and David Marcus, the Facebook executive who has spearheaded the Libra effort, will testify before multiple congressional committees this week. Marcus is scheduled to testify before the Senate banking committee on Tuesday and the House financial services committee on Wednesday. He will likely be asked about privacy, money laundering, consumer protection and the stability of the financial system, all issues lawmakers say Libra raises.

Marcus wrote in a blog post last week that he wants to “ensure that Libra helps with the kinds of issues that the existing financial system has been fighting, notably around money laundering, terrorism financing, and more. Stay tuned because this will be one story to watch closely.

VENTURE DEALS

– Amperity, a Seattle-based AI-powered customer data management platform, raised $50 million in Series C funding. Investors include Tiger Global Management, Goldman Sachs, Declaration Partners, Madera Technology Partners, Madrona Venture Group, and investor Lee Fixel.

– NewsCred, a New York-based enterprise content marketing platform, raised $20 million in funding. InterWest Partners led the round.

– nTopology, a New York-based company building engineering software for advanced manufacturing, raised $20 million. Canaan led the round.

– AllBright, a London-based funding and education network, raised £13 million ($16.3 million) in funding at a £100 million ($125 million) valuation. Cain International led the round.

– Exyn Technologies Inc, a Philadelphia-based developer of autonomous robot systems, raised $16 million in Series A funding. Centricus led the round, and was joined by investors including Yamaha Motors Ventures, In-Q-Tel, Corecam Family Office, Red and Blue Ventures and IP Group Inc.

– Paragraf, a U.K.-bases graphene-based electronics technology company, raised £12.8 million ($16  million) in Series A funding. Parkwalk led the round, and was joined by investors including IQ Capital Partners, Amadeus Capital Partners and Cambridge Enterprise, and the commercialisation arm of the University of Cambridge.

– Igloohome, a Singapore-based smart access company, raised $15 million in funding. Insignia Ventures Partners, Wavemaker Partners and SEEDS Capital led the round.

– Hero Labs, a London-based startup developing technology to help prevent water leaks in U.K. properties, raised £2.5 million ($3.1 million) in seed funding. Earthworm Group led the round. 

– Mahmee, a Los Angeles-based provider of personalized, ongoing postpartum support to new moms, raised $3 million in seed funding. Investors include Marc Cuban and Serena Williams.

PRIVATE EQUITY DEALS

– Autokiniton Global Group),  a portfolio company of KPS Capital Partners, agreed to acquire Tower International, Inc. (NYSE: TOWR) for $31 per share in cash. The total value of the transaction is approximately $900 million. 

– Drilling Tools International, Inc, a portfolio company of Hicks Equity Partners, acquired WellFence LLC, a tech-enabled security and credentialing service offering for the oil and gas industry. Financial terms weren’t disclosed.

– Carousel Capital recapitalized Armstrong Transport Group LLC, a Charlotte, N.C.-based provider of freight brokerage solutions. Financial terms weren’t disclosed. 

– Yak Access LLC, a portfolio company of Platinum Equity, acquired Klein’s Restoration Services, a Canton, Ohio-based provider of services including restoration, matting, site development and construction, and traffic control solutions, primarily to the powerline industry. Financial terms weren’t disclosed. 

– Valet Living acquired WasteRetriever, a Greenwood Village, Colo.-based doorstep trash and recycling collection company. Financial terms weren’t disclosed. 

– Acorn Growth Companies acquired Black Sage Technologies, a Boise, Idaho-based provider of counter-unmanned aircraft systems solutions. Financial terms weren’t disclosed.

OTHER DEALS

– Blackstone Group Inc. and Kirkbi AS are exploring a sale of Armacell International, the maker of specialized insulation products used by the International Space Station, according to Bloomberg. The deal could value the company at about 1.5 billion euros ($1.7 billion).. Read more.

IPOs

– AB InBev, the beer maker, pulled the Hong Kong listing of its Asia unit in what would’ve been the largest listing of the year. Read more.

– CloudMinds, a Beijing-based provider of cloud AI solutions for robots, filed for a $500 million in an initial public offering. The firm posted revenue of $121 million in 2018 and loss of $160.4 million. Softbank backs the firm. The plans to list on the NYSE as “CMDS.” Read more.

– Wanda Sports Group, a Beijing-based sporting and live events firm spinning out of Dalian Wanda Group, plans to raise $450 million in an IPO of 33.3 million shares (40% insider) priced between $12 to $15. It booked $1.3 billion in 2018 and income of $61.9 million. It plans to list on the Nasdaq as “WSG.” Read more.

– OneWater Marine, a Buford, Ga.-based recreational boat retailer, filed for an $100 million. The firm posted revenue of $603 million in the year ending Sept. 2018 and income of $1.1 million. One Water Ventures, LMI Holdings, and Goldman Sachs back the firm. It plans to list on the Nasdaq under an undisclosed symbol. Read more.

EXITS

– WPP Plc agreed to sell 60% of Kantar, WPP’s global data, research, consulting and analytics business, to Bain Capital for $3.1 billion. 

– Equistone agreed to acquire FirstPort, a U.K.-based residential property management company. The sellers are Epiris and Chamonix Private Equity. Financial terms weren’t disclosed. 

– Aspen Technology, Inc. (NASDAQ: AZPN) agreed to acquire Mnubo Inc., a Montreal-based provider of purpose-built artificial intelligence and analytics infrastructure for the internet of things. Financial terms weren’t disclosed. Mnubo Inc had raised approximately CA $22.5 million ($17.2 million) in funding from investors including White Star Capital, McRock Capital, and Munich Reinsurance.

Credit: Source link

The post What’s on the Agenda for Brainstorm Tech 2019: Term Sheet appeared first on WeeklyReviewer.

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[financesaathi]

BSE Index Plummets 6%, Worst Fall in Four Years Amid Uncertain Election Results

The BSE index tanked by almost 6% to close at 72,079.1 on Tuesday, recording its worst intraday percentage fall in four years. This significant decline was triggered by early vote counts suggesting that Prime Minister Narendra Modi's alliance had failed to achieve the anticipated landslide victory. The BJP-led alliance currently holds a lead in nearly 300 seats, with opposition parties leading in approximately 200 seats. This situation introduces uncertainty regarding the continuation of policies that markets deem crucial for India's recent robust growth momentum.

The unexpected election results caused investors to reassess their positions, leading to a broad sell-off in the market. The prospect of a potentially less stable government raised concerns about the future of economic reforms and policies that have been instrumental in driving growth. This uncertainty was compounded by recent high valuations, which made the market more susceptible to sharp declines.

On the corporate front, several sectors were hardest hit. State-run companies, banks, realty, and energy stocks experienced substantial losses as investors moved to reduce exposure to sectors perceived to be more vulnerable to political and economic instability. The performance of these sectors is closely tied to government policies and economic conditions, making them more sensitive to political uncertainty.

Despite the overall market downturn, there were some notable exceptions. Shares of fast-moving consumer goods (FMCG) companies, including Hindustan Unilever and Nestle India, managed to gain, indicating investor confidence in the resilience and stability of the FMCG sector. Additionally, TCS, Asian Paints, and Sun Pharma also saw positive movements, highlighting that not all sectors were equally affected by the market's broader concerns.

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Top Stocks to Watch on September 27: Major Announcements Impacting the Market

In today’s stock market roundup for September 27, several key announcements and movements are expected to make an impact on trading strategies. Here are the stocks to keep an eye on:

NTPC: Joint Venture for Renewable Energy

NTPC has announced the formation of a joint venture with Mahatma Phule Renewable Energy for the development of 10 GW of renewable energy projects. This strategic partnership could significantly bolster NTPC’s commitment to sustainable energy. Investors are keen to watch the future implications of this massive expansion in the renewable energy sector, which could influence NTPC stock performance in the short and long term.

Torrent Pharma: Refuting Quality Concerns

Torrent Pharma has been in the spotlight recently after allegations of quality issues with their Shelcal 500 product. However, the company has officially refuted these claims, stating that the reports of failing quality tests are unfounded. While this may ease investor concerns, the market will closely follow any further developments related to Torrent Pharma.

Nuvama Wealth: Stake Sale

Nuvama Wealth is making waves with the news that Srcs, Edel Fin, and Ecap Eq will be selling a 6.4% stake through block deals at a floor price of ₹6,445 per share. Stake sales like these often create a buzz in the market, and the impact on Nuvama's stock could be significant depending on how the sale progresses.

Union Bank: Strike Disruptions

Union Bank employees have announced plans to go on strike on September 27, which could potentially disrupt banking services. The strike is backed by 7% of the workforce, and this move may lead to some operational delays for the bank, affecting customers and possibly shaking investor confidence in Union Bank shares.

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Tolins Tyres IPO: Key Details and Review of ₹230 Crore Issue

What's covered in the Article:

Tolins Tyres is launching an IPO with a fresh issue of ₹200 Crores and an offer for sale of ₹30 Crores, with shares priced between ₹215 to ₹226.

The subscription period runs from September 09 to September 11, 2024, with the allotment expected on September 13 and listing on September 16, 2024.

The IPO proceeds will be used for loan repayments, working capital augmentation, and investments in the company's subsidiary.

Tolins Tyres, a prominent name in the tire industry since its establishment in 1982, is set to launch its Initial Public Offering (IPO) to raise ₹230.00 Crores. The company has grown from a small-scale industry unit to a leading producer specializing in a diverse range of products, including two and three-wheeler tyres, Light Commercial Vehicle (LCV) tyres, and Agriculture tyres.

The Tolins Tyres IPO comprises a fresh issue of 8.84 lakh shares worth ₹200.00 Crores and an offer for sale of 1.32 lakh shares totaling ₹30.00 Crores. The subscription period for the IPO opens on September 09, 2024, and closes on September 11, 2024. The shares will be listed on the BSE and NSE, with a tentative listing date set for September 16, 2024.

The IPO’s share price band is set between ₹215 to ₹226 per equity share, with a minimum lot size of 66 shares. Retail investors need to invest a minimum of ₹14,916, while High-Net-Worth Individuals (HNIs) are required to invest in 14 lots (924 shares), amounting to ₹208,824.

Saffron Capital Advisors Private Limited is the book-running lead manager, and Cameo Corporate Services Limited is the registrar for the issue.

Tolins Tyres Limited IPO GMP Today: The Grey Market Premium (GMP) for Tolins Tyres Limited IPO is expected to be in the range of ₹ to ₹. The GMP reflects the market's speculative view and is based on demand and supply dynamics. It is important to note that GMP is not a reliable indicator of actual listing gains, as it is not regulated.

Get More Info : Latest IPO Information

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[financesaathi]

Indian Logistics Market Expected to Grow to US$ 159 Billion by FY28

The Indian logistics market, valued at US$ 107.16 billion (Rs. 9 trillion) in FY23, is on track to experience significant growth over the next five years, projected to reach US$ 159.54 billion (Rs. 13.4 trillion) by FY28. This growth, driven by structural shifts, technological advancements, and proactive government initiatives, is expected to result in a compounded annual growth rate (CAGR) of 8-9%, according to a report by Motilal Oswal.

One of the key drivers of this growth is the National Logistics Policy (NLP), introduced in September 2022, which aims to optimize India’s logistics sector by addressing inefficiencies in the modal mix. Currently, roads account for a disproportionate 71% of freight movement, leaving railways with a smaller share of 18%. To improve this, the policy focuses on increasing the share of railways in freight transport, which is expected to grow significantly with the development of Dedicated Freight Corridors (DFCs) and the improvement of road infrastructure and inland waterways.

Critical Developments: DFCs and Port Privatization

As of April 2024, 96% of the DFC network is complete, a milestone that will vastly improve the capacity and efficiency of rail freight, shifting the modal mix toward rail and away from road transport. Rail freight has a distinct advantage in terms of cost-efficiency and sustainability, and with the DFCs nearing completion, the modal share of railways is expected to rise, reducing the logistics costs that have long burdened Indian businesses.

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[financesaathi]

Modi Expresses Concern for Gaza During Meeting with Palestinian President

During his three-day visit to the United States, Prime Minister Narendra Modi held a crucial bilateral meeting with Palestinian President Mahmoud Abbas at the Lotte New York Palace Hotel in New York. This meeting took place against the backdrop of the escalating humanitarian crisis in Gaza, exacerbated by the ongoing Israel-Hamas conflict. PM Modi expressed his "deep concern" regarding the situation, reaffirming India’s commitment to supporting the Palestinian people.

In a post on X, Modi shared insights from their meeting, stating, "Met President Mahmoud Abbas in New York. Reiterated India’s support for early restoration of peace and stability in the region. Exchanged views on further strengthening long-standing friendship with the people of Palestine."

Continued Support for Palestine

MEA spokesperson Randhir Jaiswal echoed the Prime Minister's sentiments, emphasizing India's unwavering support for Palestine. He mentioned, “PM @narendramodi met H.E. Mahmoud Abbas, President of Palestine, on the sidelines of UNGA today. PM expressed deep concern at the humanitarian situation in Gaza and reaffirmed India's continued support to the people of Palestine.”

India has historically advocated for a two-state solution to resolve the Israel-Palestine conflict. Following the October 7 Hamas attacks on Israel, PM Modi condemned the violence while also voicing concerns about the worsening humanitarian conditions in Gaza. As part of its commitment, India has extended humanitarian aid, including a recent contribution of $2.5 million to the United Nations Relief and Works Agency (UNRWA) for Palestinian refugees for the 2024-25 period.

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