Market News
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Bullish futures positioning hints at upside in large-cap stocks
Indian stock markets are seeing pockets of strength, particularly in mid- and small-cap segments, with optimism now extending to select large-cap stocks. Analysts highlight several stocks showing bullish futures build-up and positive technical indicators. IndusInd Bank, Nalco, Shree Cement, HDFC AMC, Adani Energy Solutions, Nestlé India, and ONGC are identified as potential gainers, with specific entry points, targets, and stop-losses provided for traders.
UltraTech Cement buys stake in renewable energy firm to cut power costs
UltraTech Cement Ltd has entered into an Energy Supply Agreement and a Share Subscription and Shareholders Agreement to acquire a 13.99% equity stake in FPEL Services Pvt. Ltd., a company engaged in the generation and transmission of renewable energy through wind power.
Aditya Birla Group seen as front-runner in $1.7-billion-plus deal for Shell’s Sprng Energy: report
Aditya Birla Group has emerged as front runner to buy Shells Indian renewable platform Sprng Energy for over $1.7 billion, edging KKR, though talks remain ongoing and non-binding.
Cement cos diverge on expansion plans amid West Asia uncertainty
Indian cement companies are taking different paths on spending. Some, like Ultratech Cement, Dalmia Bharat, and Nuvoco Vistas, are increasing investments for expansion. Others, including Ambuja Cement and Shree Cement, are slowing down their capital expenditure. This divergence reflects varied growth strategies in the Indian market. The focus remains on India's long-term development drivers.
Cement cos diverge on expansion plans amid West Asia uncertainty
Indian cement companies are taking different paths on spending. Some, like Ultratech Cement, Dalmia Bharat, and Nuvoco Vistas, are increasing investments for expansion. Others, including Ambuja Cement and Shree Cement, are slowing down their capital expenditure. This divergence reflects varied growth strategies in the Indian market. The focus remains on India's long-term development drivers.
Aditya Birla group, KKR left in race for Sprng Energy
Aditya Birla Group and KKR are vying to buy Shell's renewable energy firm Sprng Energy. Binding financial bids are in, and Shell will negotiate with the top two contenders next week. India's National Investment and Infrastructure Fund and Actis are out of the running. The deal could be worth around $2 billion. Shell is reviewing strategic options for Sprng Energy.
UltraTech to pick up 26% in Sunsure Solarpark Seven
UltraTech Cement is set to acquire a significant stake in Sunsure Solarpark Seven. This move aims to secure green energy for UltraTech. The acquisition will help optimize energy costs and meet regulatory demands. The deal is expected to be finalized within 180 days. This strategic investment underscores UltraTech's commitment to renewable energy.
UltraTech Cement to acquire over 26% stake in Sunsure Solarpark Thirty Eight
UltraTech Cement will acquire a 26.20% stake in Sunsure Solarpark Thirty Eight to source renewable power and meet captive energy requirements.