POWER SHARING DEAL
Block deals worth over Rs 9,947 crore this week. HDFC Bank, Infosys, Adani Ports among stocks with major action
In the large cap segment, 15 companies witnessed significant block deals worth Rs 5,725 crore led by HDFC Bank with 43 block counts totalling to Rs 2,446 crore. The next in line were Adani Ports and Special Economic Zone (Rs 469 crore), Godrej Consumer (Rs 421 crore), TVS Motor Company (358 crore), Infosys (Rs 339 crore), Interglobe Aviation (Indigo, Rs 288 crore) and Maruti Suzuki (Rs 218 crore).
Shapoorji Pallonji taps Deutsche Bank, DAM Capital to raise Rs 3,000 crore from private credit funds
Shapoorji Pallonji Group aims to raise Rs 3,000 crore via Deutsche Bank and DAM Capital to refinance debt from Ares SSG Capital and Farallon, reducing 18-22% rates. Supported by a Rs 15,000 crore Power Finance Corporation loan and Gopalpur port sale to Adani Group, the group plans a Rs 7,000 crore Afcons Infrastructure IPO, exploring global funds.
Rise & rise of secondary deals; advantage desi data centres
Happy Friday! Total funding raised by Indian startups fell in the first half of 2024, but late-stage activity showed signs of revival, as per data. Decoding this and more in today’s ETtech Morning Dispatch.
Pakistan has met all requirements for IMF bailout deal, finance official says
The South Asian country has set challenging revenue targets in its annual budget to help it win approval from the IMF for a loan to stave off another economic meltdown, even as domestic anger rises at new taxation measures.
Nepali Congress & CPN-UML strike deal to oust PM 'Prachanda'; to form new alliance
Nepali Congress President Sher Bahadur Deuba and Communist Party of Nepal-Unified Marxist Leninist (CPN-UML) chairman and former prime minister K P Sharma Oli reached an understanding on forming a new coalition on Monday midnight, according to former foreign minister Narayan Prakash Saud.
No matter who wins Iran's presidential election, much may hinge on the 'Great Satan' US
In the waning moments of Iran's final televised presidential debate, one of the top candidates to replace the late hard-line President Ebrahim Raisi invoked the name of the one person who perhaps has done more than anyone to change the trajectory of the Islamic Republic's relationship with the wider world in recent years.
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US has 'some concerns' over India-Russia military engagement: Kurt Campbell
US Deputy Secretary of State Kurt Campbell has expressed concerns over India's military and technology engagement with Russia, but also has confidence in New Delhi to advance partnership in key areas. The US is seeking to develop a deeper and stronger technological relationship with India, despite the ongoing relationship between India and Russia. Campbell emphasized that while there are areas of alignment between the US and India, there may be differences in perspectives and historical ties.
Hyundai India IPO banks set for country's 2nd biggest payday with $40 million fee: Report
The evolving financial landscape in India, characterized by the Hyundai India IPO and the rise in private company IPOs, presents significant opportunities for financial institutions like Nomura and Jefferies Financial Group to capitalize on the flourishing market and drive investment banking fees to new heights.
Anil Agarwal likely pares Vedanta stake in large block deal, shares drop 6%
The promoters of Vedanta have reportedly sold 17.1 crore shares of the company and the transaction value is estimated to be around Rs 7,000-8,0000 crore. The official buyers and sellers of the transaction are not yet known.
Assange's plea deal sets a chilling precedent, but it could have been worse
Julian Assange, founder of WikiLeaks, has reached a plea deal with prosecutors, affecting American press freedoms but allowing him to walk free after more than five years in British custody. The agreement, concluded on Wednesday in a courtroom in a remote U.S. commonwealth in the Western Pacific, involved Assange pleading guilty to one charge of violating the Espionage Act.
Promoter may sell 2.5% in Vedanta via block deals this week
Agarwal has been seeking to slash the group's debt burden. London-listed Vedanta Resources reduced its net debt to $6 billion in FY24 from $9.7 billion in FY22. The company aims to cut it to $3 billion over the next three years. Vedanta Resources has long-term debt maturities of $900 million in FY25 and another $900 million in FY26.
OpenAI buys database analytics company Rockset in 9-figure stock deal
Microsoft-backed OpenAI acquired database analytics startup Rockset to enhance its enterprise products, the ChatGPT maker announced. The deal size was undisclosed.
Anil Agarwal likely to sell a 2.5% stake in Vedanta
Vedanta Resources, which holds a majority stake in Vedanta, is reportedly considering selling a 4-5% stake in the company. The deal could be facilitated by an international bank and is expected to capitalise on the recent surge in Vedanta's share price.
Stand up to breaking news
AI summaries, including Google's feature, pose some key challenges for society and news publishers. For starters, they have issues with accuracy. Unlike Wikipedia, they don't have human oversight or verification, and can pick up unreliable or unverified information from articles as facts. A user who doesn't know better, or can't easily spot issues, may accept it as news.
Zomato-Paytm deal will be a win-win for both companies: Pankaj Murarka
Stock might look a bit rich in terms of near-term valuations over the next four or six quarters, but I still think from a medium-term perspective the outlook for the group and business or stocks continues to remain positive.
Ambuja cements deal to acquire Hyderabad-based Penna
Of the enterprise value, Ambuja Cement will hold back around ₹3,500 crore as milestone payments for completion of 2 million tonne (MT) cement capacity and 3 MT clinker facility at Penna's Rajasthan plant, which is likely in a year.
Block deals worth over Rs 7,640 crore this week. Chandrababu Naidu’s Heritage Foods, Adani Ports see top action
The week was an eventful one. Besides the general election results, D-Street saw some prominent block deals which included over three dozen companies from large, mid and smallcap segments. Shares worth Rs 7,640 crore were traded on screen, which included both buying and selling.
Best ‘Today's Deals’ on Mobile Phones on Amazon (2024)
Are you looking for a mobile phone at the lowest price possible today? If so, then continue reading this article where we have curated a list of the best deals available on Amazon on its Today’s Deals portal on smartphones. From excellent display features to powerful battery backup, everything you need is covered here.
Inox Wind shares tumble 10% as promoter likely sells stake via block deal
Inox Wind shares drop 10% on BSE to Rs 147.65 after a likely 5% stake sale by promoter entity IWEL via block deal. Company received 'A' rating from CARE Ratings for banking facilities. Inox Wind, subsidiary of Inox Group, provides wind energy services.
Block deals worth over Rs 13,000 cr this week: Adani Ports, HDFC Bank, Vodafone Idea among stocks with top action
The week gone by was highly volatile, with Nifty gaining 2.2% or 490 points in four sessions and hitting a lifetime high of 23,000. The week was also in the news for block deals involving over three dozen companies from large, mid and smallcap segments worth Rs 13,059 crore on screen.
Microsoft's UAE deal could transfer key US chips and AI technology abroad
Microsoft President Brad Smith revealed details of a deal with UAE-backed AI firm G42, potentially transferring AI technology components like model weights, prompting national security concerns.
India has a rare request for Reliance & state refiners on Russia oil deal
India has urged state-run oil refiners and Reliance Industries Ltd. to negotiate a long-term supply deal with Russia to shield the economy from volatile prices. While the government wants collaboration, Reliance's reluctance to share sensitive information poses a challenge. India seeks discounted oil amid tighter US sanctions.
Rs 8,300 crore worth block deals take place this week; SBI, Zomato and Vodafone Idea see major action
In the largecap segment, 15 companies witnessed significant block deals which were worth Rs 5,731 crore, led by Kotak Mahindra Bank with 24 block counts, totalling Rs 1,500 crore.
Rs 5 lakh crore wiped off! Poll jitters, banking & auto woes weigh on indices
The 30-share BSE benchmark Sensex declined 384 points or 0.52% to settle at 73,512. The broader NSE Nifty dropped 140 points or 0.62% to end at 22,302. Oil steadied on Tuesday as weakness in the physical market countered concern about conflict in the Middle East as Israel stepped up attacks in southern Gaza and a ceasefire deal between Hamas and Israel hung in the balance.
Adani Green signs a 20-yr agreement with Sri Lanka government for wind power stations
The Sri Lankan government has greenlit a partnership with Adani Green Energy, led by Indian billionaire Gautam Adani, to construct wind power stations in Mannar and Poonerin. A negotiation committee has been tasked with assessing Adani Green's proposal, culminating in a 20-year power purchase agreement between the parties
IBM to buy HashiCorp in $6.4 billion deal to expand in cloud
IBM's $6.4B acquisition of HashiCorp bolsters its AI presence through cloud expansion, despite Q1 revenue missing estimates. The deal, funded by cash, aligns with IBM's strategic focus on AI and cloud technologies.
Promoter of Shriram Finance sold over 59 lakh shares for Rs 1,427 crore
Sanlam Life Insurance sells shares in Shriram Finance and RateGain Travel Technologies, maintaining stability in promoter shareholdings. Shriram Finance offers vehicle credit solutions, and RateGain provides SaaS solutions for the travel industry.
Pakistan's PM-elect Shehbaz Sharif to take oath of office on Monday
Shehbaz Sharif, leader of Pakistan Muslim League-Nawaz, will take oath as Prime Minister for the second time. He was backed by Pakistan Peoples Party, Pakistan Muslim League(Q), Muttahida Qaumi Movement(MQM-P), Balochistan Awami Party, National Party, and Pakistan Tehreek-e-Insaf(PTI). Army Chief Gen Asim Munir, caretaker Prime Minister Anwarul Haq Kakar, President Arif Alvi, and Omar Ayub Khan will attend the ceremony.
New Pak government likely by March 2; presidential election before March 9: Report
The Pakistan Muslim League-Nawaz (PML-N) led by three-time prime minister Nawaz Sharif will be backed by the Pakistan Peoples Party (PPP) of former foreign minister Bilawal Bhutto-Zardari has agreed to form a new government after the February 8 elections resulted in a hung Parliament.
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