Market Broke the losing streak of four consecutive weeks and made a strong improvement in last week’s performance. Domestic equities gained momentum to address the uncertainties emanating from Russia-Ukraine and supported the BJP’s big win in four of the five state elections – which lifted the mood of the markets. In the coming week, markets are set to focus on inflation data, policy announcements from major central banks and weekly F&O closures. However, diplomatic developments in the conflict between Russia and Ukraine will continue to dominate in influencing the market outlook.
Ruchi Soya: The company has filed a red herring prospectus (RHP) for its follow-on public offering (FPO). FPO aims to raise 4300 after disinvestment of around 17% stake in its promoter company Patanjali. The FPO will open on 24 March 2022 and will be open for bidding till 28 March 2022.
One97 Communications: RBI has directed associate, Paytm Payments Bank, to stop onboarding of new customers. RBI The decision was taken by RBI after looking into some material supervisory concerns in PPBL. RBI directed the payments bank to appoint a reputed external auditor to conduct a comprehensive system audit of its IT systems.
BSE: The exchange has signed an MoU with Onsurity Technologies for MSMEs to work collaboratively to facilitate and co-market their products and services across their respective networks of small and medium enterprises.
United Spirits: The company has received board approval for investment of Rs 31.50 crore in craft gin-maker Now Spirits & Beverages. The transaction will be done by buying a portion of equity shares from existing shareholders and subscribing to Compulsory Convertible Preference Shares (CCPS) and equivalent shares.
Tech Mahindra: The Company has approved the proposal to acquire 100% equity share in Thirdware Solutions Limited. Tech Mahindra will pay a total of up to USD 42 million including earnings. The acquisition leverages Tech Mahindra’s digital solutions and services in automotive consulting, design, development, and implementation in areas such as ERP (Enterprise Resource Planning), EPM (Enterprise Performance Management), RPA (Robotic Process Automation), and IIoT (Industrial Internet of India). will promote. things). The transaction is expected to be completed by May 31, 2022.
Indo Rama Synthetics: India Ratings has upgraded the company’s long-term issuer rating from ‘IND BBB+’ to ‘IND A-‘. Outlook is stable.
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