🇮🇳 India Daybook: Power Grid Acquires Pune Asset, Manorama Industries to Raise ₹500 Cr

📍 ORDER WIN & PROJECT UPDATE

• Quadrant Future Tek: The company has entered the final stage of passenger field trials for KAVACH equipment, a critical safety system for Indian Railways.
• DCM Shriram: The board has approved a capex of up to ₹130 crore for renewable energy infrastructure and an additional investment of ₹87 crore in a specialized SPV for green energy projects.

📍 ACQUISITION

• Power Grid: The state-run giant has successfully acquired NES Pune East New Transmission for a consideration of ₹8 crore to bolster its regional grid capacity.
• AGI Infra: The firm has invested ₹12 crore as the first tranche of its planned ₹30 crore total investment in Worldnext Realty LLP.
• Sigma Advanced: The company has completed the divestment of its stake in Extrovis AG, fetching a total of ₹138 crore.

📍 FUNDRAISING

• Manorama Industries: The board has approved a proposal to raise up to ₹500 crore through equity or debt instruments, likely via Qualified Institutional Placement (QIP).
• Max Financial: The board has cleared a plan to raise ₹2,000 crore through a QIP or other instruments to support the capital needs of Axis Max Life.
• Associated Alcohols & Breweries: Approved the allotment of 11 lakh shares at a premium of ₹669 per share to a promoter-group warrant holder.

📍 CORPORATE ACTION

• Jagsonpal Pharmaceutical: The board has approved a buyback of up to 16 lakh shares at ₹250 per share via a tender offer, representing a 40% premium to the current market price.
• IRFC & RailTel: Both railway stocks trade ex-dividend today for their interim dividends of ₹1.05 and ₹1.00 per share, respectively.
• eClerx Services: The stock will trade ex-bonus today following the announcement of a 1:1 bonus issue.
• Frontier Springs: Shares will trade ex-bonus today in a 2:1 ratio.
• Hindusthan Urban Infrastructure: The stock undergoes a 1:5 split today, with the face value adjusting from ₹10 to ₹2.

📍 BUSINESS UPDATE

• Avenue Supermarts (DMart): The retail major has expanded its footprint by opening two new stores in Pune and Chilakaluripeta, taking its total store count to 463.
• Balaji Amines: The company reported severe logistical disruptions in ammonia procurement due to geopolitical tensions in the Middle East, resulting in some plants becoming temporarily non-operational.
• Lloyds Engineering Works: The company has approved a corporate guarantee of ₹109 crore in favor of HDFC Bank for credit facilities used by its subsidiary.

📍 LISTING & BULK DEALS

• Marsons Limited: A total of 17.21 crore equity shares of the company are officially listed on the NSE Main Board effective today.
• Indigrid Infrastructure Trust: Neo Real Asset Yield Fund purchased 15.43 lakh shares at ₹162.68 per share in a significant bulk deal.
• Shaily Engineering Plastics: Smallcap World Fund Inc. acquired 9.11 lakh shares at an average price of ₹1,879 per share.

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