Today’s Highlights: Markets End in Red, Reliance Gets More Investments, SP Group and Tata Cut Ties, & More.


Reliance Gets More Investments, SP Group and Tata Cut Ties.


23rd SEPTEMBER 2020

Sensex 37,668.42 ▼0.17% 
Nifty 11,131.85 ▼ 0.20%

The market was slightly down today again. This comes despite the positive global cues from international markets.

Top Gainers (Nifty)


Vedanta (▲ 2.24%)
Axis Bank (▲ 1.88%)
GAIL (▲ 1.84%)
HUL (▲ 1.27%)
Coal India (▲ 1.25%)


Top Losers (Nifty)


Bharti Airtel (▼ 7.89%)
Bharti Infratel (▼ 7.46%)
Tata Steel (▼ 3.43%)
NTPC (▼ 2.96%)
IndusInd Bank (▼ 2.93%)

KKR Invests in Reliance Industries Subsidiary


KKR, a global investment firm invested Rs 5,550 crores into Reliance Retail Ventures Ltd. (RRVL).

KKR’s investment translates to a 1.28% equity stake in RRVL on a fully diluted basis, said the company in a press release today.

This is the second investment by KKR into one of RIL's subsidiaries. Previously, in May 2020, KKR had invested Rs 11,367 crores in Jio Platforms for a 2.32% stake.

For Reliance Retail, this is the second investment. The first was from Silver Lake, a private equity firm, which invested Rs 7,500 crores in RRVL.

Shapoorji Pallonji Group Ends 70-Year Ties with Tata Group


Shapoorji Pallonji Group announced a formal separation from the Tata Group yesterday.

The exit means that the Pallonji Group, which has an 18.4% stake in Tata Sons through two of its investment firms, is looking to sell its stake and move out of the group.

Tata Steel, Tata Motors are few of the prominent listed companies under the Tata Group.


Tata Motors ended 1.28% lower at Rs 131.4 per share and Tata Steel ended 3.43% lower at Rs 361.3 per share.

IPO Day 3: CAMS and Chemcon


CAMS:

The Rs 2,244-crore IPO was subscribed almost 47 times on the last day of bidding as it received bids for 60.26 crore equity shares against issue size of 1.28 crore shares.

This excludes the anchor book portion.

Chemcon:

The Rs 318-crore IPO was subscribed almost 149 times on the final day of bidding, which is today.

The IPO received bids for 97.85 crore shares as against issue size of 65.59 lakh shares.


🥇 Gold: Rs 49,887 ▼ 0.95% at 6 PM

🥈 Silver: Rs 58,897 ▼ 2.61% at 6 PM


🔀  USD-INR Rate: Rs 73.60/USD


Dow Jones: 27,288.18 ▲ 0.51% - Sept 22

Nasdaq: 10,963.64 ▲ 1.71% - Sept 22


HAPPY INVESTING !! 

See you tomorrow!