🌟Good Morning All🌟
☀️ Exclusive Morning Market News & Update☀️
🔹M&M: To open an advanced design centre for mobility products in the U.K. The company will set up Mahindra Advanced Design Europe in the West Midlands, U.K. The new Centre of Excellence will be a part of the Mahindra Global Design Network that includes the Mahindra Design Studio in Mumbai, India, and Pininfarina Design in Turin, Italy. This renews the
company's commitment to design and develop dynamic and authentic products with global appeal.
🔹Zensar Technologies: U.K.-based fintech company, Infinity Circle, has selected Zensar for end-to-end development of its next-gen wealth management platform.
🔹Sadbhav Infrastructure Project: Has entered into the Debenture Trust Deed to raise Rs 700 crore from the investors led by Allianz Global Investors and AMP Capital out of which a sum of Rs 550 crore has already been funded by the investors. Further SIPL has sold 7% of units in IndInfravit Trust to CPP Investments for a total consideration of Rs 441 crore. The above long
term funding and sale of units will help the company to inter alia meet repayment of all its existing short term debt obligations and to fund the ongoing portfolio of Hybrid Annuity Model road assets of the company
🔹Aurionpro Solutions: To exit the cybersecurity business with the sale of its investment to Forcepoint LLC., USA. The deal, for the divestment of all stake held by Aurionpro in its cybersecurity business, is valued at a consideration of $9.6 million (approximately Rs 71 crore).
Out of the total consideration, Rs 45 crore will be received upfront and the remaining amount to be received in tranches over a year upon fulfilment of contractual warranties and earn out.
🔹NLC India: Has allotted 13,000 Commercial Papers of the face value of Rs 5 lakh each, aggregating to Rs 650 crore.
🔹Nifty Earnings: HDFC, Ultratech Cement
🔹Non-Nifty Earnings: Cholamandalam Investment and Finance Company, Dabur India, EIH, Great Eastern Shipping Co, Godrej Agrovet, Grindwell Norton, Kansai Nerolac Paints, Mangalore Refinery & Petrochemicals, Navin Fluorine International, R Systems International, Steel Strips Wheels, Sutlej Textiles & Industries #NIFTY50#NIFTYBANK