Automobile: Shares from auto and auto-ancillary sectors will remain focus, as most auto majors will declare their November sales figures from today.The automobile sector logged 19 per cent retail sales volume growth during the 42-day festive period (from the first day of Navratri till 15 days post Dhanteras), said the Federation of Automobile Dealers Association (FADA), earlier this week. A host of companies such as Tata Motors, Maruti Suzuki, M&M, Ashok Leyland, TVS Motor, Hero MotoCorp, Bajaj Auto, Eicher Motors, Escorts and others will declare their sales figures.  

 Whirlpool Corporation on Thursday announced its intention to enter into one or more transactions to sell up to 24 per cent of its ownership interest in Whirlpool of India Limited in 2024. The company currently maintains a 75% ownership interest in Whirlpool India through a wholly owned subsidiary. The proceeds from the transaction will be used to reduce debt levels, which will enhance balance-sheet flexibility. The proceeds expected to be used for debt repayment are incremental to the $500 million term loan repayment that it previously disclosed to pay in the fourth quarter of 2023. The company does not see impact to previously announced guidance post this announcement.

The Reserve Bank of India has approved dilution of shareholding of promoter FIH Mauritius Investments Ltd in CSB Bank. iThe dilution of shareholding is in line with the extant of RBI’s master direction. 

Southern Petrochemical Industries Corporation Ltd’s plants are under shut down from the morning of 29th Nov 2023 to address the Ammonia Plant maintenance. The company expects to line up production by 2nd December 2023.

Biocon Biologics, subsidiary of Biocon, has completed the integration of the Viatris’ biosimilars business in 31 European countries. The subsidiary acquired all the global biosimilar business of Viatris in November 2022.

UltraTech Cement is set to acquire the cement business of BK Birla Group’s flagship company Kesoram Industries in an all-share deal, with a business valuation of approximately Rs 7,600 crore, including debt. Kesoram announced that its board has approved the demerger of its cement business under a scheme of arrangement. In the deal, shareholders will receive one share of UltraTech Cement for every 52 Kesoram shares of Rs 10 each.

Wardwizard Innovations & Mobility Ltd has signed a Memorandum of Understanding (MOU) with Triton EV, a distinguished U.S.-based electric vehicle manufacturer. This strategic collaboration spans five years and aims to revolutionise the electric vehicle landscape in both India and the UAE.

Himadri Speciality Chemical Ltd has completed acquisition of 100% Equity Shares of Himadri Clean Energy Limited by way of purchase of Equity Shares from the existing shareholders of the Target Company.

Padget Electronics Private Ltd, wholly-owned subsidiary of Dixon Technologies (India) Ltd , has inaugurated a new modern smartphone manufacturing plant in the Noida district, Uttar Pradesh.

IIFL Finance has raised JPY 7.5 billion ($50 million) through external commercial borrowing (ECB) route. This is an inaugural JPY denominated facility for the NBFC. The retail-focused NBFC has raised the funds from Mizuho Bank’s Singapore branch. The funds were raised at a fairly competitive pricing over TONAR (Tokyo Overnight Average Rate).

Sonata Software has fixed December 12 as the record date for 1:1 bonus issue.

PowerGrid Corporation has been declared as the successful bidder to establish two inter-state transmission system projects under the build, own operate and transfer (BOOT) basis, in Rajasthan.

LTIMIndtree has been selected as a strategic partner by Metasphere, a wastewater application specialist, to scale its smart sewers management platform.

ITD Cementation India has secured a contract for civil & hydromechanical works of 500 MW hydel power, pumped storage project worth Rs 1,001 crore in Andhra Pradesh.

The board of SIS Ltd has approved a buyback worth ₹90 crore. The price has been fixed at ₹550 and the process will be carried out via the tender offer route.