SBI bank to raise Rs. 10,000 crore through infrastructure bonds

The Markets Today in a nutshell

• Domestic benchmark indices ended on a positive note.
• Overall sentiments were supported by positive global cues and falling crude oil prices. FMCG, consumer durables and metal shares were in demand. Autos, PSU banks and realty shares were under pressure.

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? SBI bank to raise Rs. 10,000 crore through infrastructure bonds
SBI Bank central board approved a proposal to raise Rs 10,000 crore through issue of infrastructure bonds during FY23. In an exchange filing, SBI stated, “Raising infrastructure bonds up to an amount of Rs 10,000 crore (including a green shoe option of Rs 5,000 crore) through a public issue or private placement, during FY23.”

? One97 Communications (Paytm) stock price rallies as foreign brokerage upgrades rating
The scrip jumped over 4 percent after CLSA upgraded the outlook on the stock of the payment services company from ‘sell’ to ‘buy’. The recent price correction makes risk-reward “favourable”, CLSA said, adding that the company has more than $1 billion cash on the balance sheet. 

? Britannia Industries joins hands with Bel SA, France to penetrate into cheese products in India
Britannia Industries has entered into a Joint Venture Agreement with Bel SA, France, and Britannia Dairy Private Limited on 29th November 2022 to undertake the development, manufacturing, marketing, distribution, trading, and selling, etc., of cheese products in India and certain other countries. As a part of the JVA, Britannia shall sell and transfer 49% of its equity stake in its wholly-owned subsidiary, BDPL, to Bel.

News from the IPO world?

• Dharmraj IPO subcribed 5.97 times on day 2
• Uniparts IPO to open tomorrow
• Recent IPO successes could lead to recovery in primary market: EY

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