Adani Power share price hits upper circuit

The Markets Today in a nutshell

• Domestic benchmark indices wiped the initial gains and ended on a flat note.
• Moody’s Investors Service, on Tuesday, retained its sovereign rating on India at Baa3 with a stable outlook. Metals and oil & gas stocks were in demand. On the other hand, FMCG, banks and financials declined.

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News you could use

?Reliance Industries (RIL) ended in green on SenseHawk Inc acquisition
RIL has signed definitive agreements to acquire a 79.4% stake in SenseHawk Inc for a total transaction value of $32 million, including funding for future growth, commercial rollout of products, and R&D.

?Adani Power share price hits upper circuit 
Adani plans to start exporting electricity from a coal-fired plant in eastern India to Bangladesh before the end of the year, helping to alleviate energy shortages in the South Asian nation. Adani Power will commission a 1.6 GW facility in Jharkhand state and a dedicated transmission line for the exports by December 16.

?Dreamfolks IPO debuts with higher than expected premium
Dreamfolks listed with strong gains which was better than analysts’ expectations and grey market premium. Healthy initial public offering (IPO) subscription, positive market conditions, leadership in airport lounge aggregation industry, and asset light business model boosted investor confidence.

News from the IPO world?

• Tamilnad Mercantile Bank IPO subscribed 1.22x on second day of issue.
• TATA Play may soon file DRHP, Disney likely to offload stake.
• Vaibhav Jewellers files draft papers to mop up funds via IPO.

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