nifty Futures on the Singapore Exchange were trading 12.5 points or 0.08 per cent lower at 15,821.50, indicating that Dalal Street was headed for a muted start on Tuesday. Positive global cues and buying in most sectors helped benchmark indices gain eight-ten per cent in the previous session, extending their uptrend for the third consecutive session. BSE Sensex jumped 433 points to reach 53,161, while nifty 50 It rose 133 points to 15,832.
Stirling Tools
Subsidiary Sterling Gtech E-Mobility (SGEM) forays into the e-LCV segment. With this development, SGEM continues to grow its presence in various e-mobility segments. Starting with supply to a single electric 2W customer a year ago, the company has now confirmed orders from over 10 customers.
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The company said the board has appointed Shreyans Bhandari as additional director and chairman and managing director of the company. He is the son of Mohan Bhandari, formerly the Chairman and MD, who has now been appointed as the Chief Executive Officer.
ICICI Bank
The private lender will maintain its strong market position and market capitalization over the next 12-18 months, S&P Global Ratings said and reaffirmed its long-term issuer credit rating ‘BBB-‘ with a stable outlook.
Cipla
The pharma firm has agreed to acquire an additional stake in digital tech company GoAptiv Pvt to increase its stake by 22.02 per cent for about Rs 26 crore. The investment will be made in equity shares and compulsorily convertible preference shares and is likely to be completed within 30 days.
JSW Steel
Moody’s Investors Service said it has raised the steelmaker’s Corporate Family Rating (CFR) from Ba2 to Ba1. Moody’s has changed the rating outlook on JSW Steel Ltd and Periyama Holdings LLC from ‘positive’ to ‘stable’.
Bank Of Baroda
The public sector lender said it will raise Rs 5,000 crore by issuing long-term infrastructure bonds. The board of directors in its meeting held on Monday approved a proposal to issue long-term bonds to finance infrastructure projects and affordable housing worth Rs 5,000 crore.
Star Health and Allied Insurance
The health insurance company has signed a corporate agency agreement with IDFC First Bank for distribution of its health insurance solutions to the bank’s customers.
GMR Infrastructure
The GMR infrastructure arm Delhi International Airport plans to use Rs 1,000 crore for the Phase 3A expansion programme. Delhi International Airport (DIAL), a subsidiary of GMR Airports and a step-down subsidiary of GMR Infrastructure, on June 23 completed the process of issuing five-year non-convertible debentures (NCDs) worth Rs 1,000 crore listed on the BSE. The NCDs are priced at an interest rate of 9.52 per cent per annum payable monthly for an initial period of 36 months and 9.98 per cent monthly thereafter. The proceeds from the notes will be used partly to finance the Phase 3A expansion programme.
Brigade Enterprises
Brigade Group has signed a joint development agreement to develop 2.1 million sq ft residential apartments in Chennai. The brigade has set a target of Rs 6,000 crore revenue from its residential business in the city over the next 5 years.
Capri Global Capital
APV Tradesol Pvt Ltd and PAC sold 2.055 per cent stake in the company through open market transactions. With this, his stake in the company has come down to 6.102 per cent from 8.156 per cent earlier.
Brigade Enterprises
Brigade Group has signed a joint development agreement to develop 2.1 million sq ft residential apartments in Chennai. The brigade has set a target of Rs 6,000 crore revenue from its residential business in the city over the next 5 years.
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The company said the board has declared a special interim dividend of Rs 25 per share of face value of Rs 10 each for the financial year 2022-23. The Board has also approved acquisition of the remaining 40 per cent equity stake in Garnet Wire, UK, an overseas subsidiary of the Company, from the Joint Venture Partner – Joseph Sellers & Sons Ltd.
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