GAIL India plans massive fund raising

The Markets Today in a nutshell

• The domestic equity benchmark ended with minor gains after a volatile session.
• Trading was volatile due to the expiry of weekly index options on the NSE today. Negative Asian cues also triggered profit selling.

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News you could use

?Indian Railway Catering and Tourism Corporation (IRCTC) jumped 6.16%
The company has floated a tender to monetise its digital assets. The company pegs revenue potential at Rs 1,000 crore by monetising digital data. IRCTC plans to leverage the data assets to increase revenue as well as improve customer experience by monetizing the data of railway passengers.

?ONGC plans Deepwater exploration with ExxonMobil
ONGC has signed a Heads of Agreement (HoA) with global petroleum giant ExxonMobil for Deepwater exploration in East and West coasts of India. The collaboration areas focus on the Krishna Godavari and Cauvery Basins in the eastern offshore and the Kutch-Mumbai region in the western offshore.

?GAIL India plans massive fund raising
The board of directors of the company approved fundraising of $3.125 billion from external commercial borrowing and up to Rs 25,000 crore via NCD or non-convertible debentures.

News from the IPO world?

• Syrma SGS Technology IPO subscribed 2.27x on Day 3.
• Dreamfolks Services IPO opens on 24th Aug.
• Concord Biotech files draft papers to float IPO.

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