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Equities opened higher in Japan, South Korea and Australia, although gains were more subdued than previously suggested. S & P 500 and Nasdaq 100 contracts fell, as did European stock futures, after shares on Wall Street snapped a four-day slide on Friday.
Investor appetite has weakened, sending US equity futures and commodities lower after China confirmed its Covid-Zero policy. The dollar has advanced against major currencies on its appeal as a safe-haven asset.
Oil fell about 2%, leading to a fall in production on the hope of weak demand from China.
On Friday, India’s stock benchmarks maintained gains for three weeks in a row helped by weekly gains in metals, PSU banks and media.
At 6:35 am, the SGX Nifty traded in Singapore — India’s first benchmark barometer Nifty 50 — gained 0.54% to 18,301.
Stocks to watch
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TVS Motor Company: The board approved the issue of zero-coupon debentures up to Rs 310 crore in subsidiary Sundaram Auto Components.
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Bhagiradha Chemicals and Industries: The board declared a dividend of Re. 1 share for each share of face value of Rs 10.
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Copy: The board decided not to proceed with the transfer of the Indian business based in the US.
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Accompanying Kubota: The company will buy the ground crane business and related equipment and parts from Tadano Escorts India for Rs 16.59 crore. The company will also sell a 49% stake to Tadano.
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Birlasoft: Dharmender Kapoor is stepping down as managing director and chief executive officer. The company has appointed Angan Guha as CEO and MD, effective Dec 1. 2022.
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IDFC First Bank: The board has approved a plan to raise Rs 4,000 crore Tier-1 capital through equity share issue.
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Reliance Product: Banking veteran KV Kamath has been appointed as the non-executive chairman of the financial services arm of the company Reliance Strategic Investments, which will soon be demerged and listed as Jio Financial Services.
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Indian Railway Finance Corporation: The Board will meet on November 10, 2022 to consider interim allocations for this fiscal year.
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Bank of India: The board has approved the raising of Tier-1 capital through the issuance of AT-1 bonds worth Rs 2,500 crore.
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Mahanagar Gas: The company has increased the price of CNG by Rs 3.50 per kg, and domestic PNG price by Rs 1.50 per SCM at its license points spread across Mumbai and nearby areas.
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Jagran Prakashan: The company has announced a Rs 345-crore buyback plan, under which it will buy back 4.6 equity shares at Rs 75 each through a tender process. The size of the buyback represents 17.45% of the company’s total outstanding shares.
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Special Foods of Vidhi: The board will meet on Nov. 11 to consider the first interim tranche of current funding.
Adani Ports and Special Economic Area: October business update
– The company handled 25 MMT cargo in October.
– Daily average volumes improved to 1 MMT in the second half of the month.
– APSEZ recorded 203 MMT cargo volumes during the April-October period, which equates to a 10% year-on-year growth.
Donations
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Fusion MicroFinance: The issue was registered 2.95 times in the last day. QIB share was registered 8.59 times. The basket of non-institutional investors was subscribed 1.38 times, while retail investors placed bids for only 51% of their share.
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Bikaji Foods International: The issue was registered 1.48 times on the second day. The QIB component was subscribed by 3%, while the non-institutional basket was subscribed 1.42 times. A portion of retail investors was subscribed 2.33 times, while the company’s employees called for 1.41 times the share reserved for them.
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Global health: The IPO received bids of 49% of its total size on the second day. Institutional buyers entered prices for 56% of their basket. The baskets of non-institutional investors and dealers saw 96% and 25% of subscriptions, respectively.
Salary
Aditya Birla Capital, Affle (India), Alkyl Amines Chemicals, Automotive Axles, Bannari Amman Sugars, BLS International Services, Bharat Petroleum Corporation, Ceat, Cera Sanitaryware, Coal India, Divi’s Laboratories, Endurance Technologies, India Cements, KEC International, KPR Mill , Mold-Tek Packaging, 97 One Communications, PB Fintech, Privi Specialty Chemicals, RateGain Travel Technologies, Sansera Engineering, Sequent Scientific, Sun Pharma Advanced Research Company, – Sundaram-Clayton, Tata Teleservices (Maharashtra), Ujjivan Small Finance Bank, Vinati Organics
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