Castrol India’s EV plans

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⭐ Castrol India’s EV plans 

Automotive lubricant maker, Castrol India plans to enter the electric vehicle (EV) segment. The company management said it plans to invest ₹500 crore to set up a global battery R&D centre. The centre will focus on thermal management solutions for EV batteries, and is expected to be ready by 2024.

⭐ DIIs vote with their money 

DII or domestic institutional investors’ holdings including mutual funds, insurance companies, retail and HNI investors in listed companies, touched an all-time high of 24.03% in Q2 from 23.54% in Q1. Meanwhile, holdings of foreign institutional investors (FIIs) have dropped to a 10-year low of 19.03% during the same quarter. The share of domestic mutual funds in companies listed on the NSE rose for the fifth quarter running and reached an all-time high of 7.97% in Q2.

⭐ KFintech gets SEBI nod  for IPO 

KFin Technologies (KFintech), which provides technology-led solutions to the Indian mutual fund industry, has received SEBI nod for its initial public offer (IPO) of up to ₹2,400 crore. The IPO will be entirely an offer for sale (OFS) by its promoter, the General Atlantic Singapore fund.

Global markets (at 7:30 AM today)

Fact of the day

As the world population reached 8 billion on Tuesday, India was the largest contributor to the milestone, having added 177 million people.

Source: NDTV