Adani Green Energy slips in red on acquisition news

The Markets Today in a nutshell

• Domestic stock market ended on a positive note.
• The benchmark indices registered strong gains on Wednesday, led by metals and financial stocks. Positive global cues and buying by foreign portfolio investors (FPIs) boosted investors sentiment.

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News you could use

? Adani Green Energy slips in red on acquisition news
The company said that its wholly-owned subsidiary, Adani Renewable Energy Holding Two has entered into a binding term sheet for acquisition of 50% equity interest in Essel Saurya Urja Company of Rajasthan (ESUCRL) for Rs 15 crore. The transaction is expected to be completed by 28 February 2023.

? IndusInd Bank beats street expectations for quarterly results by a mile
IndusInd Bank on January 18 reported 58 percent growth in its consolidated net profit for the quarter ending December 2022 to Rs 1,963.54 crore, beating street expectations by a mile. The average estimate of five brokerages polled had pegged the net profit for the private sector lender at Rs 1,836 crore for the reported quarter. The net profit growth was partly driven by a sharp 37 percent fall in provisions for the quarter to Rs 1,064.

? ICICI Lombard General Insurance fell 4 percent as investor quarterly results
The general insurance player reported a mixed performance in the June 2022 quarter. Investors gave it a thumbs down as it missed the estimates. ICICI Lombard reported an 11 percent rise in the net profit at Rs 353 crore in the third quarter of the ongoing fiscal, compared to a net profit of Rs 318 crore in the same quarter previous fiscal.

News from the IPO world?

• Oyo to refile updated DRHP with SEBI by mid-Feb
• Blue Jet Healthcare gets SEBI’s nod to float IPO
• Adani Enterprises to launch Rs. 20,000 crore FPO

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