On Wednesday, stocks 2593 advanced, 1338 declined and 109 remained unchanged, on the Bombay Stock Exchange (BSE) with an advance decline ratio of 1.94, indicating positive closing of stocks in broader markets. The trend of the major indices on Wednesday’s trading is given in the table below.
On NSE, 71 securities advanced and closed at a new 52-week high whereas 16 securities sank to close at their new 52-week lows. In sectoral indices, Nifty Energy, Nifty Media and Nifty Metal among the biggest gainers. Nifty Pharma and Nifty IT among the biggest losers.
Tube Investments of India (-1.17%) executed definitive agreement for subscription of 67% equity stake in Kcaltech System India (KCAL India), a subsidiary of KC Altech Company based in South Korea (KCAL Korea). This strategic acquisition will enable TII to strengthen its position in the growing automotive sector, particularly in the domain of aluminium tubes and parts used in heating, ventilation, and air conditioning systems for automobiles. The proposed investment will support KCAL India’s expansion plans, including increasing its manufacturing capabilities.
NBCC (India) (+1.20%) received work order worth around Rs316 crore from ST & SC Development, Minorities & Backward Classes Welfare Department, Government of Odisha. The order is for upgradation of Primary school Hostel (PSH) under State Sector Scheme at various location in the state of Odisha. The aforesaid work is in the normal course of business of the company.
Aster DM Healthcare (+8.81%) entered into an agreement to acquire the balance stake in Aster Adhaar Hospital (Prerana Hospital) in Kolhapur, Maharashtra. With this acquisition, Aster DM Healthcare will own 100% of the Prerana Hospital, from the 87% stake it previously held.
Suprajit Engineering (+2.03%) signed memorandum of understanding (MoU) with Chuo Spring Company, Japan (Chuo). This collaboration includes a 50:50 joint venture (JV) in India to design, manufacture, and supply transmission cables, and a technical assistance agreement, which grants JV access to Chuo’s unique Japanese transmission cable technology.
Exide Industries (EIL) (+4.52%) invested Rs100 crore by way of subscription in the equity share capital of its wholly owned subsidiary, Exide Energy Solutions (EESL), on rights basis. With this investment, the total investment made by the company in EESL stands to Rs3,052.24 crore. There is no change in the shareholding percentage of the company in EESL pursuant to such an acquisition.
Lumax Auto Technologies (LATL) (+1.42%) completed the acquisition of 60% stake in Greenfuel Energy Solutions’ alternate fuels business for Rs153.09 crore through its wholly owned subsidiary Lumax Resources. The acquisition has been funded through a combination of debt and internal accruals. This acquisition its entry into the green and alternate fuels segment (across CNG, hydrogen and other applications), which is expected to witness strong and accelerated growth in the coming years.
Wipro (-1.04%) extended its work with Marelli, a global leader in automotive solutions, for an additional four years. As part of this engagement, Wipro FullStride Cloud will migrate Marelli’s Milan data centre and all their local server rooms to the cloud to centralize their operations and provide a more agile and stable ecosystem.
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below:
