Sign Up View Online
Dec 8 2020 . ISSUE 26

Good morning folks 😊. The infusion of funds by the instituitions to the Indian markets continue! And a huge US stimulus package expected anytime soon! But just to be on the safer side, market is at an extremely high valuation and it wouldn't hurt to be watchful !

Know what you own, and know why you own it.

– By Peter Lynch




+ 97.20



+ 347.42



+ 12.00



+ 758.00


Jet Airways may restart domestic and international operations by summer of 2021.

Cupid Ltd receives orders for Covid-19 anitgent based rapid test kits from UP Government.

L&T bags orders for supply of 90 units of Komatsu Mining Equipment.

Strides Pharma promoters put up 30% stake for sale
Documents in a folder with Trump Organization insignia

Sensing the increased demand of pharmaceutical sector, Stride Pharma Science Ltd are on the market to cash in on 30% of their stake in Stride. 

Promoter shares for sale

The stake for sale is the one owned by Strides’ promoters, serial pharma entrepreneur Arun Kumar, and his partner KR Ravishankar and others. They together own 29.69% of the company. 

The investment bank Moelis & Co. has been recruited to find suitable buyers for the promoter stake. 

A small tale of sales

Earlier this year, Arun Kumar & KR Ravishankar had sold their controlling stake in animal health focused pharmaceutical company SeQuent Scientific Ltd to american private equity firm Carlyle for Rs1,580 crore.

Bottom line: With a vaccine on the brink of being distributed, the entrepreneurs are cashing in before its too late. 

State owned lender Canara Bank launches Rs2,000 cr QIP
walmart shopping

In a bid to raise more funds from investors, Canara Bank has issued a Qualified Issued Placement (QIP). 

Details of QIP

The firm aims to raise upto Rs. 2000 crore, starting with a base issue of Rs. 1,000 crore. The floor price for the shares have been set at Rs. 103.5 per share. 

Investment banks ICICI Securities, Axis Capital, IDBI Capital, JM Financial and SBI Capital Markets are managing the share sale.

What is QIP? 

QIP is a process which was introduced by SEBI so as to enable the listed companies to raise finance through the issue of securities to qualified institutional buyers (QIBs). 

Bottom line:  Quite a smart move considering the amount of banks going under the water in these trying times. 

Vodafone Idea, Nokia deploy smart agriculture solution
walmart shopping

It looks like Nokia & Vodafone India are in preparations to give the farmers of Maharashtra & Madhya Pradesh an early Christmas present. 

IoT in Agriculture  

Vodafone Idea’s (Vi) CSR arm, Vodafone India Foundation has partnered with Nokia to deploy a smart agriculture solution which makes use of IoT in the states of Madhya Pradesh and Maharashtra that aims to increase the productivity of farmers.

The technology is being implemented across 100 cities in the states and will benefit over 50,000 farmers in the region. 

Bottom line:  A great initiative from Nokia & Vi. 

  • Hindalco invested Rs 730 cr in a 34,000 tonne extrusion facility at Silvassa,Gujarat.
  • Bharat Biotech applies for emergency use authorization for Covaxin.
  • Petrol prices set to touch all time high level, with a litre of the transportation fuel selling at Rs 83.71 in Delhi on Monday.
fb   tw   yt
© 2020 Flickthrough. All Rights Reserved.
If you do not wish to receive any further emails from us, please unsubscribe
  Never miss a story from us, get daily market updates in your inbox.