Reliance Industries ends in green on new acquisition

The Markets Today in a nutshell

• Domestic benchmark indices continued their winning streak for third consecutive day.
• Falling global crude oil prices and a sliding US dollar index have encouraged domestic investors to increase their equity exposure. Broader markets are seeing a recovery, as large caps are witnessing rotational buying and profit booking.

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News you could use

?Reliance Industries ends in green on new acquisition
The stock ended in the green after the company said that its subsidiary Reliance Petroleum Retail will acquire the polyester business of Shubhalakshmi Polyesters & Shubhlaxmi Polytex for Rs 1,592 crore. The acquisitions, which will be done by way of slump sale on going concern basis, are subject to the approval of the Competition Commission of India.

?CAMS stock price jumped after Motilal Oswal Financial Services
Motilal Oswal Financial Services initiated coverage on the stock with a ‘buy’ rating and a price target of Rs 3,000, implying an upside of up to 22 percent over the next 12 months.
 
?Titagarh Wagons stock price rallies as Government of Italy buys strategic stake
Titagarh Wagons informed stakeholders that the Government of Italy, through its investment arm – Invitalia – has taken a strategic stake in Titagarh Firema Spa (TFA), a subsidiary of the company.

News from the IPO world?

• Indegene prepares for Rs. 2500 crore IPO.
• Sachin Bansal led Navi Technologies gets SEBI approval to launch IPO.
• Ramdev to launch IPO to Patanjali brands soon.

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