Skip to content
Research Periodic Report Stake Sales in Aster DM & CDSL, Mankind Pharma Divestment, Adani Power Acquisition Approved

Stake Sales in Aster DM & CDSL, Mankind Pharma Divestment, Adani Power Acquisition Approved

Written by - Fisdom Research

March 27, 2024 3 minutes

Opening Bell:

Gift Nifty is down by 14.5 points in the early morning trade, indicating a negative opening for Indian stock market

Wednesday saw predominantly positive trading across Asian markets. Japan’s Nikkei 225 rise by 0.24%, alongside a 0.4% gain in the Topix index. South Korea’s Kospi experienced a minor 0.1% decline, while the Kosdaq remained stable. However, Hong Kong’s Hang Seng index futures hinted at a weaker start.

US stocks experienced a slip-on Tuesday. Despite starting with modest gains, both the Dow and S&P 500 recorded their third consecutive decline by the end of the session. Investors remained cautious, awaiting economic indicators during the holiday-shortened week to assess the Federal Reserve’s policy trajectory. The Dow Jones Industrial Average dipped by 31.31 points, equivalent to 0.08%, closing at 39,282.33. Similarly, the S&P 500 decreased by 14.61 points or 0.28% to 5,203.58, while the Nasdaq Composite saw a decline of 68.77 points, marking a decrease of 0.42%, settling at 16,315.70.

Stocks News:

👉 Aster DM Healthcare: According to sources familiar with the matter, private equity firm Olympus Capital Asia Investments is poised to offload up to 9.8% of its equity stake in the private healthcare services provider through a block deal, with an estimated size of $235 million. The floor price for the block deal has been set at Rs 400 per share. As of December 2023, Olympus Capital Asia Investments held a 18.96% stake in Aster DM. 

👉 Central Depository Services (India): Sources informed CNBC-TV18 that public shareholder Standard Chartered Bank – Corporate Banking intends to sell its entire 7.18% stake (75 lakh equity shares) in CDSL for $151 million via a block deal. The floor price for the block deal is fixed at Rs 1,672 per share, representing a 6.3% discount to the last closing price of Rs 1,785.

👉 Mankind Pharma: Investment company Beige has divested 58,17,874 equity shares in the pharmaceutical company at an average price of Rs 2,124.71 per share, and an additional 58,17,873 shares at an average price of Rs 2,120.31 through open market transactions. In total, it has sold a 2.9% equity stake worth Rs 2,469.7 crore in the company, against its shareholding of 2.99% as of December 2023.

👉 Adani Power: The Competition Commission of India (CCI) has granted approval for Adani Power’s acquisition of 100% of Lanco Amarkantak Power. Lanco Amarkantak Power, a thermal power generation company and a part of the Lanco Group, is presently undergoing corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code (IBC).

👉 Foreign institutional investors (FIIs) net bought shares worth Rs 10.13 crore, while domestic institutional investors (DIIs) purchased Rs 5,024.36 crore worth of stocks on March 26, provisional data from the NSE showed.

Domestic and International Events

  • India’s Reserve Bank (RBI) reported a decrease in the country’s current account deficit (CAD) to $10.5 billion or 1.2% of the GDP for the October-December quarter. This is down from $11.4 billion in the previous quarter and $16.8 billion a year earlier.
  • US consumer confidence was little changed in March as the Conference Board said that its consumer confidence index dipped to 104.7 this month, essentially unchanged from a downwardly revised 104.8 in February. Economists polled by Reuters had forecast the index nudging up to 107.0 from the previously reported 106.7.
  • Gold prices saw an uptick on Tuesday, propelled by a weakened US dollar, while investors awaited forthcoming data to reveal underlying inflation trends, crucial for assessing the Federal Reserve’s stance on interest rates.
  • Crude oil prices continued their descent following data indicating a notable increase in US inventories. Brent crude experienced a 0.58% drop to $85.75 per barrel after a 0.6% decline on Tuesday, while West Texas Intermediate slipped 0.50% to $81.21.
EMERGINGLATEST% 1D
Hang Seng16,6180.9 %
Shanghai Composite3,0310.2 %
DEVELOPEDLATEST% 1D
Dow Jones39,282(0.1) %
DAX18,3840.7 %
FTSE 1007,918(0.2) %
Nikkei40,398(0.0) %
Straits Times3,2331.1 %

Share the article

Get exclusive content and expert advice

Subscribe to fisdom to get regular updates in the finance world delivered to your inbox each month

Other Post

Periodic Report

Tata Consumer Revenue up & profits down; ICICI Prudential insurance Profit slide in Q4, Tata Elxsi Stable revenue & slight profit dip, MCX India Strong profit growth in Q4

Periodic Report

Tejas Network’s Strong Q4 Performance Drives Stock Growth, Vodafone Idea’s FPO Success, Hatsun Agro’s Performance, KP Energy’s Project Acquisition and more

Periodic Report

Reliance’s Marginal Growth, Mahindra’s Loss, Tejas Networks’ Profit Surge, and Hatsun Agro’s Growth

Periodic Report

Persistent Systems Faces Decline, IREDA Surges, Welspun Corp Gains, NTPC Declines and more

Periodic Report

HDFC Bank’s Modest Growth, Wipro’s Marginal Revenue Dip, Jio Financial’s Profit Surge, IREDA Robust Performance

The Signal

Investor’s Manifesto Playbook

Periodic Report

Tata Communications Decline, Bajaj Auto Decline, and ITC’s Strategic Acquisition and more

Periodic Report

Bajaj Auto Leads Growth, ICICI Securities Soars, TV18 Broadcast Expands, Network18 Media Reports Revenue Surge

Periodic Report

Infosys’ Strong Result, JSW Energy’s Surge, Bharti Airtel’s Growth Prospects, Nestle India’s Decline and more

Periodic Report

Infosys Collaboration, Tata communication Earnings, Adani’s Joint Venture, Zee’s NSE Update, and ICICI Lombard’s Performance

Primary Market

Vodafone Idea Limited – FPO Offer

Capview

Momentum Sustains – April 2024

Download one of India's best wealth management apps

Join more than one million investors and take control of your wealth

Download app