August8 , 2022

Indian Oil, TVS Motors, Infosys, Biocon, and Others

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Nifty futures on the Singapore Exchange traded 34 points, or 0.22 per cent, lower at 15,732, signaling that Dalal Street was headed for a negative start on Thursday. The market snapped a four-day winning streak and closed with a third of a percent loss in the previous session, as traders seem to be cautious ahead of a day of expiry of June futures and options contracts. Banking and financial services, FMCG, and IT stocks pulled the market down. The BSE Sensex dropped 150 points to 53,027, while the Nifty50 declined 51 points to 15,799.

Wonderla Holidays

The company has signed agreement with the Government of Odisha for leasing about 50 acres of land for the development of an amusement park project in Bhubaneswar, Odisha.

TVS Motors

Private equity giants TPG Capital and KKR & Co. are in talks with TVS Motor Co. Ltd to invest at least $300 million to fund the expansion of its electric vehicle business.

Biocon

Bangalore-based biopharmaceutical company, Biocon to acquire a 26 per cent stake in AMPYR Renewable Energy Resources Eleven for solar power. The transaction will cost around Rs 7.50 crore. Through the acquisition, Biocon plans to enhance its renewable-based power consumption.

Infosys

The company has agreed with The House Fund III, LP, a Venture Capital (VC) fund based out of the US, for investment of $10 million. The investment is expected to be completed by June 30 this year. This is a minority holding and is not exceeding 20 per cent of the fund size. The House Fund is a pre-seed and early-stage VC fund, investing in startups from the UCB’s ecosystem focused on AI.

GR Infraprojects

The company has completed development of Purvanchal Expressway (Package-VII) from Mojrapur to Bijaura in Uttar Pradesh on EPC basis. The completion certificate has been issued by the Independent Engineer on June 28 and has declared the project fit for entry into commercial operation with effect from March 7, 2022

MTAR Technologies

Investor Fabmohur Advisors LLP sold 61,855 equity shares or 0.2 per cent stake in the company via open market transactions on June 28. With this, its shareholding in the company reduced to 0.79 per cent, down from 0.99 per cent earlier.

Minda Industries

The company has acquired 4,48,162 equity shares or 5.24 per cent stake in German-based FRIWO AG, by investing 14.99 million euro. The investment has been made in the aforesaid company, after obtaining the requisite approvals including Reserve Bank of India under Overseas Direct Investment (ODI) guidelines.

Bharat Road Network

The company has received Rs 94.11 crore from the purchaser against its equity exposure of Rs 112.16 crore in Shree Jagannath Expressways Private Limited (SJEPL), an associate of the company, after closing the transaction by selling the entire 40 per cent stake held in SJEPL. Indian Highway Concessions Trust acting through its investment manager is the purchaser.

Indian Oil Corporation

Indian Oil Corporation to expand the capacity of Digboi refinery. The company said the board has accorded investment approval for capacity expansion of Digboi refinery in Assam from 0.65 to 1 mmtpa along with associated facilities at an estimated cost of Rs 740.20 crore. The project is expected to be commissioned by October 2025.

The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

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