D-STREEt SNAp 3-DAy LOSINg STREAk...!!!
Indian equity benchmarks ended higher on Tuesday halting a three-day losing streak, after starting the session nearly unchanged. Gains
across sectors pulled the headline indices higher, with financial shares being the top contributors.
Bse Sector:
Gainers: Metal, IT, Teck, Consumer Durables, Commodities, FMCG, Capital Goods, Industrials, Auto, Consumer Discretionary,
Healthcare, Financial Services, Bankex, Energy
Non Gainers : Realty, Power, Utilities, Telecommunication, Oil & Gas.
BEATINg tHe STREEt (Nifty):
Gainers were IndusIndBk, JSWStl, NTPC, HDFCLife, UltrtchCmnt, Titan, AdaniPorts, DivisLab, UPL, ApolloHsp, Infy.
ExPECTATIOn BELIEd (Nifty):
Non Gainers were BPCL, Nestle, PowerGrid, Airtel, KtkMah, ONGC, CIL, HDFCBank, EicherMotors, Cipla, BajajAuto.
LARSEn & TOUBRo LIMITEd : CMP Rs.2030 (+1%)
Larsen and Toubro Ltd has purchased the entire stake held by Chiyoda Corporation in L&T-Chiyoda Limited (LTC) a joint venture between L&T and Chiyoda Corporation (Chiyoda) in accordance with the Share Purchase Agreement dated 22nd Nov 2022. The cost of acquisition is Rs.750 mn. The acquisition is expected to be completed by 31st Dec 2022. L&T and Chiyoda hold 50% shares in LTC. Hence, purchase of Chiyoda's share by L&T is a Related Party transaction. The transaction is done at arms length as the price was determined through valuation by an Independent Valuer. LTC was incorporated as a 50-50 joint venture between L&T and Chiyoda since 1994. It was formed with an objective to
provide engineering and related services for the Hydrocarbon industry to support L&T's EPC business in the domestic & international market.
In the past 27 years, LTC has worked on more than 300 projects including complex refinery and petrochemical processes.
MARUTi SUZUKi INDIa LIMITEd : CMP Rs.8875 (0%)
Maruti Suzuki India Ltd drives in the New Eeco powered by a new & more powerful engine with enhanced fuel-efficiency. The country's
highest-selling+ van, the Maruti Suzuki Eeco has been consistently dominating the segment. Building on its success, the New Eeco has been
innovatively engineered & developed as a dual-purpose vehicle to cater to the evolving needs of customers. It confidently meets the
demanding needs of consumers looking for a comfortable & spacious family car & entrepreneurs requiring a practical vehicle with flexible interior space. With new refreshed interiors & the latest technology & features, the New Eeco is designed to make owners proud & appeal to
their families as well.
ROUTe MOBILe LIMITEd : CMP Rs.1315 (-1%)
Route Mobile Limited, a leading CPaaS (Communication Platform as a Service) provider to enterprises, OTT players & mobile network operators, has already expanded its footprint into the Kingdom of Saudi Arabia (KSA) as a Limited Liability Company. The company will open a local sales office in Riyadh & operate as Route Mobile Arabia Telecom Ltd, further strengthening its presence in addition to the UAE & Kuwait market. Route Mobile has also obtained the "CITC License" from Saudi Arabia's Communications and Information Technology Commission (CITC), which is responsible for regulating the information & communication technology sector in KSA. This license is mandatory for any company or a technology provider to conduct a local SMS business; it is mandated to host local platforms in the country to ensure all the data is stored locally and meets the region's data security guidelines.
By: via Allies Fin Serve Stock Market
