Blackstone in Advanced Talks to Acquire Haldiram's

Hello,
Markets ended flat after trading largely in the red throughout the day before a semi-resurgence towards the end.

The demand for petroleum products increased by 2.6% in June, SEBI has put SK Finance's Rs 2,200 crore ($263Mn) IPO on hold, without disclosing any reasons and Blackstone is in advanced negotiations to acquire a controlling stake in Haldiram's.

Markets📊 
As of 08/07/2024 Market Close

• Indian stock market benchmarks, the Sensex and Nifty 50, closed flat on Monday, July 8. Gains in ITC, Reliance Industries, and Infosys were offset by losses in HDFC Bank, Titan, TCS, and Mahindra and Mahindra amid mixed global cues.

• The tug of war between bulls and bears continued as investors bought stocks with attractive valuations and booked profits in those trading at a premium.

Notable Gainer & Loser📈📉 
Source: Moneycontrol

Ajmera Realty & Infra India Ltd +3.26%

• Shares surged more than 3 percent earlier yesterday after the company reported strong sequential growth in operational numbers.

• The management discussed a '5x growth strategy' and expressed optimism about their project pipeline, with an estimated Gross Development Value of around Rs 4,300 crore.

Titan Company Ltd (3.33%)

• Titan Company's shares dropped 4% on Monday due to lower-than-expected business growth, prompting global brokerages to cut target prices.

• The company reported mixed performance across its divisions, with high gold prices impacting consumer demand.

Yesterday’s Highlights📒 

• The white goods PLI scheme has reopened, giving companies more time to increase AC and LED production. (ET)

• SEBI takes steps to increase transparency in Clearing Corporation funds. (BS)

• India is poised to secure a long-term uranium supply from Russia. (ET)

• Demand for petroleum products increased by 2.6% in June. (ET)

• Union Budget 2024: SBI suggests it's a good time to push for the divestment of public banks. (ET)

• SBI suggests establishing a Credit Guarantee Fund for agricultural loans in its pre-budget wish list. (BS)

• Apple is considering starting iPad production in India and may also manufacture AirPod charging cases at the Jabil facility in Pune. (Mint)

• India's new EV policy is expected to undergo changes that could potentially benefit legacy car companies. (HT)

• PVR Inox has entered into a strategic partnership with Amazon Pay. (ET)

• Indians are increasingly spending more in airport lounges and premium services. (ET)

• Global investments in Indian government bonds are strengthening, largely due to their inclusion in the JPMorgan index. (BI)

IPO / FPO / Issuances🚀 

• SEBI has put SK Finance's Rs 2,200 crore ($263Mn) IPO on hold, without disclosing any reasons. (BS)

• Pepperfry puts its IPO plans on hold to focus on reviving growth. (ET)

There are no mainboard IPOs for this week.

Deal Activity🤝 

M&A / Investments

• JSW Steel to spend Rs 8,300 crore ($1Bn) on decarbonization, aiming for net-zero by 2050. (ET)

• Adi-Nadir Godrej family has acquired a stake worth Rs 3,803 crore ($455Mn) in Godrej Industries. (FE)

• BlackRock has acquired 4.55 million shares of Swan Energy valued at Rs 304 crore ($36.4Mn) through a block deal. (BS)

• Accenture has acquired Bengaluru-based semiconductor design company Excelmax Technologies. (YS)

• Blackstone is in advanced negotiations to acquire a controlling stake in Haldiram's. (BS)

• Sun Pharma is open to considering acquisitions within its global specialty portfolio. (BS)

Debt

• Greenko secures Rs 6,200 crore ($742Mn) loan to repay overseas bonds. (ET)

• Tata Realty & Infrastructure has secured a loan of Rs 825 crore ($98Mn) from IFC. (Moneycontrol)

• Edelweiss Financial Services intends to raise up to Rs 200 crore ($24Mn) through NCDs. (BS)

• EXIM Bank enters into a Rs 20 crore ($2.5Mn) Line of Credit agreement with Guyana. (PW)

Funds

• Quant Mutual Fund investors have withdrawn Rs 2,800 crore ($335Mn) amid the Sebi probe. (Mint)

• Welspun One has raised Rs 2,275 crore ($272Mn) for its second fund to build warehousing assets. (YS)

• Former Defence Secretary Ajay Kumar launches a Rs 250 crore ($30Mn) venture fund for defence startups. (ET)

VC

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