The trends of the major indices in the course of the week’s trading are given in the table below:
Investors opted for profit booking in the banking sector as the Reserve Bank of India (RBI) introduced new norms for personal loans, signalling potential challenges for lending institutions. RBI tightened the risk weightage norms for banks and non-banking financial companies (NBFCs) aimed at curbing unrestricted growth in unsecured loans.
Lower inflation figures and the expectations of an extended pause in central bank rate actions contributed to the earlier surge in the domestic market. The fall in international oil prices, driven by suspected demand destruction, provided additional support to market sentiments.
New Ventures/ Capacity Expansion
Ashok Leyland announced its plans to strengthen its LCV presence in Eastern India with a focus on West Bengal.
Tata Passenger Electric Mobility (TPEM) and Jaguar Land Rover ( JLR ) announced platform-sharing partnership to accelerate development of TPEM's premium pure electric series Avinya.
DreamFolks introduced travel SIM services for one of the leading clients.
RIR Power Electronics has received approval from Government of Odisha for investing Rs510.80 crore for establishment of manufacturing, fabrication & packaging facility for Silicon Carbide devices at Info Valley, Odisha.
Zydus Life and Guardant Health will jointly promote the Guardant360 portfolio of next-generation genomic tests for advanced solid cancers in India and Nepal.
Oil and Natural Gas Corporation (ONGC) has planned to start oil production from its much-delayed flagship deepsea project (Cluster-2 project in KG-DWN-98/2 block) in Krishna Godavari basin in Bay of Bengal this month, helping reverse years of decline in output.
Kotak Mahindra Bank (KMBL) has launched Cardless EMI (Equated Monthly Instalments) Payments on Amazon Pay, to provide its pre-approved customers easy access to instant consumer finance, with just their Mobile Number and PAN (Permanent Account Number).
ESAB India has planned to increase its existing capacity by setting up an additional production line in the existing facility for Electrodes.
SJVN has successfully concluded its first ever e-reverse auction (e-RA) for selection of RE power developers for supply of 1,500 MW power projects with energy storage system in India. SJVN has received an approval from the Central Electricity Authority (CEA) for the company's detailed project reports (DPRs) for two hydro projects worth around Rs40,000 crore.
Order Wins
KPI Green Energy received new order of 2.10 MW capacity under wind-solar hybrid power project under CPP segment.
TCS Launched New Gen AI-Powered Cyber Insights Platform on Amazon Security Lake.
Investments/ Acquisitions/ Mergers/ Stake sale
Shilpa Medicare acquired Pilnova Pharma Inc in the US.
Peak XV Partners (formerly Sequoia Capital India & SEA) has divested a 1.5% stake in Aptus Value Housing Finance India for over Rs213 crore through open market transactions.
Dr. Reddy's Laboratories has acquired 26% of the paid up equity share capital of O2 Renewable Energy IX.
ICRA has acquired 60% shareholding in D2K Technologies India for Rs15.4 crore.
Fund Raising
Reliance Industries has raised Rs20,000 crore in the largest bond issue by a non-financial Indian firm, paying 7.79%interest rate.
Anant Raj has received approval for the issuance of equity shares or other convertible securities by way of Qualified Institutions Placement (QIP), of Rs500 crore.
Other Announcements
IndiGo's market share has dipped to 62.6% from 63.4% in October from the previous month, according to aviation data released by the DGCA India.
Equity mutual funds had over Rs90,000 crore of cash at the end of September as fund managers keep the powder dry amid market volatility.
Earnings
Vardhman Holding: Net Sales was Rs30.3 crore in Q2FY24 up 1335% YoY (Rs2.11 crore). Net Profit was Rs61.9 crore in Q2FY24 up 2% YoY (Rs60.5 crore)
Top Gainers and Losers of the major indices for the week are given in the table below:
