Share Market Highlights 12 March 2024: Sensex gains 165 pts, Nifty ends flat, realty sheds over 3%

Aditya Birla Capital: The board approved the amalgamation of the wholly owned unit Aditya Birla Finance with the company. The merger is subject to the sanction of the National Company Law Tribunal and other necessary approvals from the Reserve Bank of India and other shareholders.

* ITC:* British American Tobacco is preparing to kick off a sale of part of its stake in the company as soon as this week, Bloomberg reported. Amidst this, about 12 million equity shares (0.09% stake) changed hands in a large trade on Monday. It increased its stake in Sproutlife Foods to 44.74% for Rs 50 crore.

* SpiceJet:* Chief Operating Officer Arun Kashyap and Chief CommercialOfficer Shilpa Bhatia has resigned from the airline, PTI reported.

* Rail Vikas Nigam:* The company emerged as the lowest bidder from Central Railway for signalling and telecommunication work for the provision of automatic block signalling on Khapri-Sewagram section of Nagpur Division. It also received a construction order worth Rs 339 crore from Maharashtra Metro Rail Corp.

* Adani Enterprises:* The survey of Dharavi will commence on March 18 from Kamla Raman Nagar to digitally collect data from lakhs of informal tenement residents.

* H.G. Infra Engineering:* The company received a letter of award worth Rs 862.11 crore from the National Highways Authority of India.

* Jupiter Wagons:* The company received an order worth Rs 957 crore from the Ministry of Railways to manufacture and supply 2,237 units of BOSM wagons.

* Mahindra and Mahindra:* The company reported total production at 73,380 units vs. 58,203 units

YoY for the month of February.

* Pitti Engineering:* The company will buy Bagadia Chaitra Industries for an enterprise value of Rs 124.92 crore.

* Wipro:* The IT major has expanded its partnership with Nutanix to launch a new Nutanix-focused business unit.

* Imagicaaworld Entertainment:* The company announced its successful bid to establish a landmark concept at the iconic Sabarmati Riverfront in Ahmedabad for Rs 130 crore.

* Triveni Engineering and Industries:* The company acquired a 25.43% stake in Sir Shadi Lal Enterprises for Rs 35 crore with the objective of expanding its business operations in sugar and alcohol businesses.

* IRB Infrastructure Developers:* The company’s unit, IRB Lalitpur tollway, achieves financial closure for the NH-44 project with Rs 3,500 crore in project finance from the lender.

* HIL:* The board approved a 100% equity acquisition of Crestia Polytech for a total consideration of Rs 160 crore.

New Listings 

R K Swamy: The company’s shares will debut on the stock exchanges on Tuesday at an issue price of Rs 288 apiece. The Rs 423.56-crore IPO was subscribed 25.94 times on its third and final day. Bids were led by institutional investors (34.36 times), retail investors (34.03 times), non-institutional investors (20.58 times), and portion reserved for employees (2.52 times). 

Bharat Highways Infrastructure Investment Trust InvIT: The company’s shares will debut on the stock exchanges on Tuesday at an issue price of Rs 100 apiece. The Rs 2,500-crore IPO was subscribed 8.01 times on its third and final day. Bids were led by institutional investors (8.92 times) and other investors bid for 6.93 times.

IPO Offering 

Gopal Snacks: The public issue was subscribed to 9.02 times on day 3. The bids were led by institutional investors (17.5 times), non-institutional investors (9.5 times), and retail investors (4.01 times). 

Popular Vehicles and Services: The company will offer its shares for bidding on Tuesday. The price band is set from Rs 280 to Rs 295 per share. The Rs 601.55 crore IPO is a combination of a fresh issue and an offer for sale. The company has raised Rs 180 crore from anchor investors.

Bulk Deals 

InterGlobe Aviation: Rakesh Gangwal sold 2.25 crore shares (5.82%) at Rs 3.015.88 apiece, while Morgan Stanley Asia (Singapore) Pte. bought 21 lakh shares (0.54%) at Rs 3.015.1 apiece. 

Tilaknagar Industries: M and S Bottling Company sold 10 lakh shares (0.52%) at Rs 193.22 apiece. 

Dwarkesh Sugar: Goel Anil Kumar sold 14.39 lakh shares (0.76%) at Rs 83.66 apiece.

Insider Trades

Deccan Gold Mines: Promoter Rama Mines Mauritius sold 1.05 lakh shares between March 5 and 7. 

Usha Martin: Promoter Peterhouse Investments India sold 5 lakh shares on March 11. 

Yasho Industries: Promoter Parag Vinod Jhaveri sold 33,393 shares on March 5

Pledge Share Details 

Paisalo Digital: Promoter Equilibrated Venture CFlow, PRI CAF, and Pro FITCCH revoked a pledge of 3.37 lakh shares on March 7.

Trading Tweaks 

Price band changes from 20% to 10%: Sindhu Trade Links. 

Ex/record Rights Issue: IRB Infrastructure Trust. 

Moved into short-term ASM framework: Tata Chemicals. 

Moved out short-term ASM framework: Inox India, Sanghvi Movers, and Shaily Engineering Plastics.

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