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Welpsun Corp has acquired entire stake in Nauyaan Shipyard

Written by - Team Fisdom

September 20, 2022 3 minutes

Opening Bell:

SGX Nifty is up by 130 points in the early morning trade, indicating a gap up opening for Indian stock market.

Asian indices were trading higher in the early morning trades. The Japanese Nikkei was up by 0.32 percent, South Korea’s Kospi was higher by 0.33 percent and Hong Kong’s Hang Seng is up 1.39 percent in early morning deals.

Wall Street key benchmark indices was a volatile session as investors worried about this week’s policy meeting and how aggressively will the Federal Reserve hike rates. Dow Jones rose by 0.64 per cent, Nasdaq composite increased by 0.76 per cent, S&P 500 gained 0.69 per cent on Friday.

Oil prices were steady on concerns that interest rate hikes in US to tame inflation will curb economic growth and fuel demand in one of the world’s biggest consumer of crude oil.

Stocks News:

?Adani Enterprises has raised Rs. 100 crore via issuing 1000 no convertible debentures on a private placement basis. The said MLD will be listed on (WDM) Wholesale Debt Market on BSE.

?Welpsun Corp has acquired entire stake in Nauyaan Shipyard, a shipbuilding, repairers, fitters, fabricators company through a related party transaction at a fail value consideration of Rs. 100,000.

?Competition Commission of India a fair trade regulator approves the proposed merger of Viacon18 media and Jio Cinema OTT which is a joint venture between domestic broadcast and Paramount.

?Hatsun Agro has received approval from its board of directors for its right issue of upto Rs. 400 crores.

?IFCI a state owned financial services firm said the board of directors will meet on September 27 to consider the preferential issue of equity shares to the Government of India. This is subject to the approval of shareholders and stock exchanges.

?Foreign institutional investors (FIIs) have net bought shares worth Rs 312.31 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 94.68 crore on September 19, as per provisional data available on the NSE

Domestic and International Events

  • India’s central bank is using up its foreign exchange reserves at a quicker pace than during the taper-tantrum period of 2013 as it tries to prevent an overshoot in the rupee, but a larger pool of reserves may allow it to support the currency for some more time.
  • Reserve Bank of India has sold a net of $38.8 billion from its forex reserves between January and July this year, data released on Friday showed. A net of $19 billion was sold in July alone, the most recent data available, and intervention remained heavy in August when the rupee fell below 80 against the dollar
  • Capital markets regulator Sebi has kept in “abeyance” the proposed initial share sale of Canada-based Fairfax Group-backed Go Digit General Insurance Ltd. However, the Securities and Exchange Board of India (Sebi) did not clarify further.
  • Benchmark 10-year US Treasury yields jumped to their highest level since 2011 on Monday as investors adjusted for the likelihood that the Federal Reserve will hike rates higher and for longer than previously expected as inflation remains near multi-decade highs.

Key Equity Indices

EMERGING LATEST % 1D
Hang Seng 18,566 (1.0) %
Shanghai Composite 3,116 (0.4) %
DEVELOPED LATEST % 1D
Dow Jones 31,020 0.6 %
DAX 12,803 0.5 %
FTSE 100 7,237 (0.6) %
Nikkei 27,568 (1.1) %
Straits Times 3,256 (s0.4) %

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