LIC increases stake in HDFC AMC

The Markets Today in a nutshell

• Domestic benchmark indices ended on a negative note.
• Global markets extended their rout as the ECB and BoE followed the Fed in raising policy rates by half a percent while maintaining a hawkish tone on inflation. All sectoral indices ended in the red, with the Nifty auto, information technology, pharma and PSU bank down 1-3 percent.

Capital Flows

News you could use

? HPCL to issue NCDs worth Rs. 10,000 crore
Hindustan Petroleum Corporation board members approved a proposal for borrowing through further issuance of non-convertible debentures, bonds or notes etc. up to Rs 10,000 crore on a private placement basis in the domestic market and/or in the overseas market.

? LIC increases stake in HDFC AMC
Life Insurance Corporation of India has increased its stake in leading asset management company HDFC AMC by buying additional shares via open market transactions. Both the companies intimated to exchanges about the transactions via filing on December 15.

? Sapphire Foods promoter offloads 39 lakh shares 
The promoter entity Sapphire Foods Mauritius offloaded 39 lakh shares in Sapphire Foods, one of the largest franchisees of Yum! Brands Inc in the subcontinent, via open market transactions at an average price of Rs 1,347.24 per share.

News from the IPO world?

• Indegene files papers for around Rs 3,200 cr IPO
• Elin Electronics sets IPO price band at Rs. 234-247 per share
• Disney looks to exit TATA Play offload stake in IPO

Numbers? that matter