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Tata Consumer’s double acquisition, ⁠⁠Just Dial reports robust Q3 numbers & more

NIFTY50: 22,097 ▲ 202 (+0.9%)
SENSEX: 73,327 ▲ 759 (+1.0%)


Among the NIFTY sectoral indices, IT (+1.8%) and Oil & Gas (+1.7%) were the top gainers, while Media (-1.9%) and Metal (-0.4%) were the top losers.

What's Up

Top gainers Today's change
Wipro 495 ▲ 29 (+6.3%)
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1,588 ▲ 47 (+3.0%)

What's Down

Top losers Today's change
HDFC Life
614 ▼ 22 (-3.5%)
Bajaj Finance 7,477 ▼ 184 (-2.4%)
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Market Sentiment

USD-INR 82.86 ▼ 0.008 (-0.01%)
NIFTY MIDCAP 100 47,837 ▲ 325 (+0.6%)
NIFTY SMALLCAP 100 15,610 ▲ 65 (+0.4%)
India VIX 13.1 ▲ 0.3  (+2.6%)

Stock Buzz


⭐ Tata Consumer’s double acquisition

Tata Consumer Products Limited (TCPL) has acquired a 100% stake in Capital Foods, owners of Ching’s Secret for ₹5,100 crore on a no-cash-no-debt basis. The acquisition involves an upfront purchase of 75% of the equity shareholding, with the remaining 25% to be acquired over the next three years. Meanwhile, the FMCG company also acquired 100% stake of Organic India, known for its teas and herbal supplements for ₹1,900 crore in a separate deal. Nonetheless, Tata Consumer shares closed 0.5% lower today. However, the company’s stock is up nearly 6% so far this month.

⭐ Adani Enterprises wins order from SECI

Adani Enterprises announced receiving an order worth ₹293.7 crore from Solar Energy Corporation of India (SECI) to set up an electrolysers manufacturing capacity of 198.5 MW per annum in India under strategic interventions for the Green Hydrogen Transition Scheme (Tranche-I). Meanwhile, shares of Adani Enterprises closed 0.4% lower today.

⭐ Just Dial gains on healthy Q3 numbers

Shares of the local search services provider closed 1.8% higher after hitting a new 52-week high. This was after the company reported a 22.3% year-on-year (YoY) surge in its net profit to ₹92 crore in Q3 FY24. Its revenue also rose 19.7% YoY to ₹265 crore in the same quarter. Meanwhile, the EBITDA margin of Just Dial improved by 1,054 basis points YoY to 22.8% led by top line growth and strong cost controls both on employee costs and other expenses.

⭐ BHEL rises after big order win

Shares of the power plant equipment manufacturer closed 2.5% higher after the company signed a contract worth ₹15,000 crore with navratna company, NLC India to commision a 2,400 MW Talabira thermal power project in Odisha. The project has a timeline of 64 months.


IPO Corner

On Day 1, the ₹1,171 crore Medi Assist Healthcare IPO received an overall subscription of 54%, with the retail segment being subscribed 89%. To know more and pre-apply click here


Learn with Upstox

What is an acquisition?

Acquisition refers to the process of one entity obtaining control or ownership of another, often through purchasing its assets, shares, or entire business. It can occur in business, military, real estate, or technology contexts, signifying the gaining of assets, capabilities, or control by one entity from another.


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