Govt Receives Rs 3,636Cr Dividend from IOCL - Top Indian Market Updates


Here are some of the major updates that could move the markets tomorrow:

Centre receives ₹3,636Cr dividend from IOCL

According to the secretary of the Department of Investment and Public Asset Management (DIPAM), the Central Government has received ₹3,636 crore from Indian Oil Corporation of India Ltd as a dividend tranche. Additionally, it received received about ₹23 crore from RailTel Corporation of India Ltd. 

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IOC corners more than a third of D6 gas in latest Reliance auction

Indian Oil Corporation (IOC) has cornered more than a third of the natural gas that Reliance Industries Ltd and its partner BP offered in the latest auction of the KG-D6 gas. IOC got 1.45 million standard cubic meters per day out of the 4 mmscmd of gas auctioned last week. Reliance and BP last week auctioned 4 mmscmd of gas from the Krishna Godavari basin block starting December 1, 2023.

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Jubilant Foodworks to acquire majority stake in DP Eurasia

Jubilant Foodworks Ltd announced plans to acquire an additional 51.1% stake in DP Eurasia NV.  DP Eurasia NV is the exclusive master franchisee of the Domino's Pizza brand in Turkey, Azerbaijan, and Georgia. The acquisition will be carried out through a subsidiary, with a proposed consideration of up to EUR 73.36 million (approximately ₹670 crore).

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Tata Motors launches registered vehicle scrapping facility in Punjab

Tata Motors has launched a registered vehicle scrapping facility (RVSF) in Punjab, which will be the company's fourth such unit. The facility, developed by Tata Motors' partner Dada Trading Company, can safely disassemble 12,000 end-of-life vehicles annually. The facility, which operates both passenger and commercial vehicles, is part of the company's commitment to eco-friendly initiatives.

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Tata Power Renewable Energy secures 200 MW FDRE project

Tata Power Renewable Energy Ltd (TPREL) secured a 200 MW firm and dispatchable renewable energy (FDRE) project from SJVN Ltd. The project, providing round-the-clock power, aligns with power distribution company's renewable purchase obligation and energy storage obligation. The financial details of the order haven't been disclosed yet.

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Apollo launches India's first pediatric health assessment on chronic, lifestyle diseases in children

Apollo Hospitals has launched an industry-first pediatric ProHealth Programme to combat the increasing trend of non-communicable diseases (NCDs) among children and adolescents. The Pediatric ProHealth Programme curates tests to assess the child based on his or her family history and age group and also conducts routine tests. 

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PCBL to acquire Aquapharm Chemicals for ₹3,800 crore

Philips Carbon Black (PCBL) approved the acquisition of Aquapharm Chemicals Private Limited for an aggregate of ₹3,800 crore. The proposed transaction shall be financed through a mix of internal accruals and external funds raised by the company and/or its affiliates/associates. The acquisition of ACPL marks the company’s foray into global speciality segments of water treatment chemicals and oil & gas chemicals.

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China's Alipay to sell its 3.4% stake in Zomato for nearly $400 million

According to Reuters, Alipay plans to sell its 3.4% stake in food delivery giant Zomato for nearly $400 million through block deals on Indian stock exchanges. Alipay, owned by Ant Group, will offload its entire 3.44% stake in the deal, the term sheet seen by Reuters showed. Bank of America and Morgan Stanley are advisers on the deal.

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Sale of Aster DM's GCC business likely to be announced soon

Aster DM Healthcare is on the verge of announcing the sale of its Gulf Cooperation Council (GCC) region business. Fajr Capital, in collaboration with key promoters, is expected to acquire the business in a landmark deal expected to be valued at $1 billion. Aster DM Healthcare has entrusted the task of overseeing the sale of its GCC business to independent directors. This decision is aimed at avoiding any potential conflicts of interest during the sale process.

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Amazon signs partnerships with HDFC Securities, TCS and Tech Mahindra 

Amazon Web Services (AWS) has partnered with HDFC Securities, Tata Consultancy Services (TCS) and Tech Mahindra during its annual tech conference, Re: Invent. HDFC Securities Ltd has built its latest trading app, HDFC Sky, on the AWS cloud platform. The TCS partnership includes a generative AI practice with AWS that it hopes will aid businesses in making good on opportunities. Tech Mahindra has partnered with AWS to build a sports cloud platform.

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