Acquisitions & Investments
IRM Holding subsidiary India Insure will acquire 100% stake in Safe Risk Insurance Brokers Pvt. Ltd. through a cash and equity structure, pending IRDAI approval.
Indegene approved an investment of EUR 8.5 million in its wholly owned subsidiary in Ireland to strengthen operations.
NIIT Learning Systems US arm invested $13 million (Rs. 108 cr) in StackRoute Learning Inc., converting $9 million loan to equity and adding $4 million in cash.
Concord Control Systems acquired Fusion Electronics Pvt. Ltd., India’s largest flex PCB manufacturer, targeting Rs. 200 cr in revenue at full capacity with EBITDA margins above 20%.
SunTeck Realty acquisition valued at Rs. 100 cr will expand its footprint near Mumbai International Airport.
Large Trades & Regulatory Actions
Gretex Corporate Services barred by SEBI from taking new assignments for 21 days due to lapses in maintaining regulatory net worth and poor due diligence in an SME IPO.
Atishay Ltd witnessed a large trade on NSE where Ghalla Bhansali Stock Brokers Pvt. Ltd. bought 1.12 lakh shares (1.02% stake) at Rs. 153.03 per share.
Reliance Industries saw a large trade on NSE with BOFA Securities Europe buying 2.95 lakh shares at Rs. 1,475.5 per share, while Kadensa Master Fund sold the same quantity at the same price.
Global & Macro Updates
China’s October Manufacturing PMI came in at 49.0 vs. 49.6 estimated, Non-Manufacturing PMI at 50.1, and Composite PMI at 50.0.
PMI data signals continued contraction in factory activity, though services remain slightly expansionary.
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