Overnight Digest: Stocks to keep an eye on November 28!
Indian equity markets closed today's trading in the green.
Indian equity markets closed today's trading in the green. The BSE Sensex increased 20.96 points or 0.03 per cent, to close at 62,293.64, a new high. The NSE Nifty also increased by 28.65 points or 0.15 per cent, to close at 18,512.75. Today's broad indices all ended in the green. Small- and Mid-Cap equities experienced some purchasing demand.
Castrol India: Castrol India informed today, that it has entered agreement with Ki Mobility Solutions Private Limited (“Ki Mobility”), for acquisition of 7.09 per cent stake (on a fully diluted basis post acquisition). Ki Mobility is a part of TVS group, one of the large players in the India automotive industry and houses all the recent acquisitions of the TVS group in the India automotive aftermarket.
Aditya Birla Fashion and Retail: The company is in the final stage of acquiring a controlling stake in the apparel and accessories brand Bewakoof for about Rs 10 crores, making its entry into the direct-to-consumer segment.
Tata Steel: Tata steel long products has further acquired 4.69 crore shares at Rs 10/share at a premium of Rs 54 per share of Neelachal Ispat Nigam a subsidiary of the company for an amount aggregating to Rs 300 crore.
Biocon: The company has proposed acquisition of biosimilars assets of Viatris, by Biocon Biologics Limited (BBL), subsidiary of Biocon Limited. The BBL has allotted equity shares to Biocon Limited for an amount of Rs. 2,205.63 crore (~US$ 270 million) on November 23, 2022 for the acquisition.