Blinkit Launches 10-Minute Ambulance Service

• On Friday, January 3, Indian stock market benchmarks, including the Sensex and Nifty 50, experienced notable declines due to profit booking, fueled by the strengthening US dollar.

• The banking, financial, IT, and pharmaceutical sectors were hit hard by these losses.

• Analysts suggest that investors are remaining cautious ahead of the upcoming Q3 earnings reports and are closely watching potential policy changes in the US following Donald Trump's assumption of office.

Afcons Infrastructure +1.73%

• Afcons Infrastructure's shares jumped 7% during Friday's intraday trading after the company announced securing a significant order exceeding Rs 1000 crore from the Defence Research and Development Organisation (DRDO).

Hero Motocorp (1.66%)

• Hero MotoCorp shares ended the day with a 1.66% drop, reaching a low of 3% during trading. This decline is part of a continued downward trend following the release of disappointing sales figures for December.

• India's forex reserves have fallen to an eight-month low due to pressure on the rupee. (RT)

• Most banks are experiencing slower loan growth due to weak demand. (ET)

• The government will launch a new round of the PLI scheme for the steel sector on Monday. (YS)

• Blinkit has launched a 10-minute ambulance service, starting in Gurugram. (EN)

• Standard Glass Lining has raised Rs 123 crore from anchor investors. (MC)

This week’s mainboard IPO schedule

• Standard Glass Lining

  • Offering Period: 06 January - 08 January, 2024

  • Listing Date: 13 January, 2024

  • Issue Price: 133-140

  • Lot Size: 107

• Quadrant Future Tek

  • Offering Period: 07 January - 09 January, 2024

  • Listing Date: 14 January, 2024

  • Issue Price: 275-290

  • Lot Size: 50

• Capital Infra Trust

  • Offering Period: 07 January - 09 January, 2024

  • Listing Date: 14 January, 2024

  • Issue Price: 99-100

  • Lot Size: 150

M&A / Investments

• BharatPe's plans to sell up to a 25% stake in Unity SFB for $800 million. (BS)

• HUL is in talks to acquire the skincare brand Minimalist in a ₹3,000 crore deal. (Mint)

• Oyo has raised $65 million from Ritesh Agarwal's Redsprig Innovation. (EN)

• Reliance Retail has written off its $200 million investment in Dunzo amid financial difficulties. (YS)

• Varun Beverages will invest Rs 412 crore in its South African subsidiary. (ET)

• HDFC Bank to acquire up to 9.5% stakes in Kotak Mahindra, AUSMFB, and Capital SFB. (BS)

• Dunzo is exploring a distress sale to resolve its financial challenges. (Inc42)

• Agrochem company Crystal Crop has acquired Bayer's herbicide input business. (ET)

Debt

• Reliance Industries has raised $3 billion from 11 banks in a dual-currency loan deal. (BS)

• Vedanta's parent company plans to raise $1 billion to refinance high-cost debt. (ET)

• Bank of India is looking to sell stressed loans in Simbhaoli Sugars and Visa Steel. (BS)

VC