The IPL's Business Value Rises 6.5% to $16.4 Billion in 2024

Hello,
Markets ended positively yesterday primarily due to favourable global indicators. Major IB firm Houlihan Lokey reported that the value of the IPL has increased by over 6% compared to the previous year and Ahmedabad is potentially considering mandating EV infrastructure in every newly constructed building.

Markets
As of 12/06/2024 Market Close

• Indian stock market benchmarks closed positively on Wednesday, June 12, primarily due to favourable global cues.

• Major European and Asian markets also rose, driven by optimism that US inflation data would show signs of easing and expectations that Federal Reserve Chair Jerome Powell might indicate when rate cuts could begin in the US.

• On the domestic front, the Union Budget is anticipated to be the next major catalyst, with experts suggesting that the stock market may trade within a range until its release.

Notable Gainer & Loser
Source: Moneycontrol

TVS Supply Chain Solutions Ltd +4.95%

• Shares surged 8 percent after the company signed a five-year strategic contract with Daimler Truck South East Asia Pte Ltd, a subsidiary of Daimler Truck AG.

• According to the deal, the company will become the primary logistics partner for Daimler Truck AG, the world's largest commercial vehicle manufacturer, across the Asia-Pacific region.

Brigade Enterprises Ltd (4.1%)

• Shares dropped 3 percent as investors booked profits following a recent surge. The stock had already gained over 10 percent in the past week, providing ample opportunity for profit-taking.

• Additionally, the company announced plans to invest Rs 8,000 crore to expand its business in Chennai.

Yesterday’s Highlights

• Houlihan Lokey reports that the business value of IPL has increased by 6.5% to $16.4 billion in 2024. (BS)

• Brigade Enterprises plans to invest Rs 8,000 crore ($958Mn) in Chennai by 2030.(Moneycontrol)

• Gensol Engineering wins bid for ₹1,340 crore ($160Mn) energy storage project. (BS)

• CIPL secures a Rs 114 crore ($13.7Mn) IT infrastructure maintenance project from Indian Oil. (BS)

• NBCC secures a Rs 100 crore ($12Mn) contract from Oil India to construct a centralized core repository with laboratory facilities. (TH)

• According to the International Energy Agency (IEA), India is expected to lead the world in fuel demand growth. (ET)

• VinFast advances its Asia expansion plans and anticipates opening its India plant ahead of schedule. (ET)

• Ahmedabad is considering mandating EV charging infrastructure in new buildings. (ET)

• Go First receives a 60-day extension from NCLT to finalize insolvency proceedings. (Moneycontrol)

• US-based AIG partners with Creativeland Studios to form a joint venture in India. (ET)

• FanCode signs a 5-year deal with the Asian Football Confederation. (ET)

• World Athletics secures a five-year broadcasting services deal with Tata Communications. (ET)

IPO / FPO / Issuances

This week’s mainboard IPO schedule

• Ixigo IPO was subscribed 98.10 times on the final day. (YS)

Deal Activity

• Abu Dhabi’s sovereign fund ADIA has led a Rs 835 crore ($100Mn) financing round for beauty retailer Purplle, valuing the company at $1.2-1.3 billion. (ET)

• 360 One acquires ET Money for ₹366 crore ($43.8Mn) to enter the wealth tech space. (ET)

• Suraksha Group injects Rs 125 crore ($15Mn) into Jaypee Infratech. (BS)

VC

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