Live stock market updates for August 20 2024 Sensex and Nifty both rise, while the Nifty IT index adds more than 1%.

Nifty, Sensex, and Stock Prices LIVE: Tuesday's trade is firm for the Sensex and Nifty, the key Indian indices. The BSE Sensex increased 432.66 points, or 0.54%, to trade at 80,857.34 at 11:23 a.m. The Nifty 50 increased 133.35 points, or 0.54%, to trade at 24,706. Activities focused on rotating stocks and sectors are probably going to take center stage, and increased levels of profit-taking are expected. The focus is currently on Federal Reserve Chair Jerome Powell's address at the Jackson Hole Economic Policy Symposium, which may offer important information on interest rate policy in the future. Given that Nifty was unable to end Monday's trading session higher, it appears to be technically tired. A move below the 50 DMA at about 24,000 might cause the index to move towards 23,800. The daily RSI, which is now holding around 45, signals weakness. IndiaStock Market Today | Share Market Live Updates - Get all the latest information on share prices, Indian stock markets, Sensex, Nifty, BSE, and NSE live for August 20, 2024.  

UltraTech says India Cements will continue to be a listed entity.

Chennai Super Kings (CSK), the cricket team that plays in the Indian Premier League (IPL), are owned by India Cements promoters N Srinivasan and his family. This ownership will not alter.The Aditya Birla group company claimed in a regulatory statement that UltraTech, the acquirer, has no "intention to delist" the competitor cement company located in South Africa, so India Cement Ltd. (ICL) will continue to be a listed corporation.Chennai Super Kings (CSK), the cricket team that plays in the Indian Premier League (IPL), are still owned by N Srinivasan and his family, promoters of India Cements. In a copy of a public statement that was published to markets on Monday, Axis Capital, which is handling the open offer for UltraTech, stated that the leading cement player plans to purchase 8.05 crore shares of ICL, or 26% of the holdings of the cement producer situated in Chennai. "The acquirer does not have an intention to delist the target company (ICL) pursuant to this open offer," it stated."At a price of Rs 390 per offer share aggregating to a total consideration of up to Rs 3,142.35 crore," the open offer is contingent upon the fair trade regulator CCI granting the necessary statutory permission. The shares of ICL were up 0.56% from the previous close to trade at Rs 376.70 apiece on the BSE, making the offer price 3.53 percent higher. The flagship business of the Aditya Birla Group, UltraTech Cement, announced on Sunday that it would pay Rs 3,954 crore to acquire a 32.72 percent stake in India Cements from promoters and their associates. This deal will enable UltraTech Cement to increase its presence in the fiercely competitive and rapidly expanding Southern cement market, particularly in Tamil Nadu. Moreover, in light of the completion  

In H1 2024, startup M&As Drop 45% YoY to 37 Deals

SUMMARY: Compared to 67 M&A deals in H1 2023, the Indian startup industry saw just 37 deals in the first half of this year. The fewest M&A transactions over a six-month period occurred in H1 2024 compared to H1 2020, when there were 35 agreements. In terms of M&A activity, listed gaming giant Nazara Technologies led the startup scene.About 37 M&A deals were made in the startup ecosystem in the first half of 2024, according to the 'Indian Tech Startup Funding Report H1 2024'. This represented a 34% drop from 56 M&A deals in H2 2023 and a 45% dip from 67 such deals in H1 2023.  

The big-deal arrogance of the global M&A market is waning while rates remain high in 2024.

The foundation of mergers and acquisitions (M&A) is confidence. Additionally, anticipation of up to six interest rate reduction in Q1 contributed to the boost in U.S. confidence; however, the Fed has maintained its rate goal at 23-year record highs, and forecasts have decreased to maybe two or even zero rate cuts by year's end. After a bold foray into dealmaking in 2024, this has led to a small retreat. Per Mergermarket data, global M&A activity is up 17% year over year. With a number of larger-cap listed deals, the first half of the year got off to a roaring start as strategic investors used their share capital to try and push stagnant share prices in their quest for growth.Four of the targets for the top ten largest agreements in the first half of 2024 included stock swaps, while nine of the targets had U.S. headquarters. Large-cap transaction flow decreased as interest rate forecasts descended into a more moderate range. Only two of the top ten transactions were revealed in Q2: Silverlake's $14.9 billion offer for media conglomerate Endeavour Group and ConocoPhillips' $23.1 billion all-stock purchase of Texas-based upstream oil giant Marathon Oil in May.  

BFSI sector deals increased 23% in Q2, according to Grant Thornton.

In the industry, 63 deals were completed, and deal values increased by 46%.According to Grant Thornton Bharat, the financial services industry saw mergers and acquisitions valued at $867 million in the second quarter of 2024, as well as $1.6 billion in private equity investments. With 63 agreements completed in the second quarter, the sector's overall activity increased by 23% in terms of volume and 46% in terms of deal value.It stated, "The market has demonstrated resilience and optimism, reflected in robust primary investments and healthy consolidation, despite the uncertainty surrounding election results."M&As With 15 deals completed, the volume of merger and acquisition deals increased sequentially by 15%. Nonetheless, the deals' worth decreased by 11% to $867 million. Domestic consolidations accounted for 73% of the volume of M&A transactions, suggesting a preference for strategic local investments. With an 84% contribution, inward transactions accounted for the majority of the deal value. According to the research, this significant inflow of foreign investment highlights the sector's attractiveness to global investors. The largest transaction in the industry saw Zurich Insurance Group raising its ownership to 70% of Kotak Mahindra General Insurance. This represents the biggest overseas investment in India's general insurance sector.  

For ₹300 crores, Nazara Technologies purchases a further 48.42% of Paper Boat Apps.

Paper Boat Apps is the developer and publisher of popular children’s digital gamified learning app ‘Kiddopia’ which is the #3 grossing app for children between 2-8 years of age in the USAnupam and Anshu Dhanuka, the promoters of Paper Boat Apps Pvt. Ltd. (PBA), have sold an additional 48.42 percent of the company to Nazara Technologies Limited for a sum of Rs 300 crores, to be paid in cash over time. The popular children's digital gamified learning software "Kiddopia," which is the #3-grossing app for kids in the US between the ages of 2 and 8, is developed and published by Paper Boat Apps.When the time is right, Nazara plans to integrate Paper Boat Apps into the business to bring one of the most well-known kids' gamified learning IPs in the world, Kiddopia, home. By taking this action, Nazara will be able to reap the benefits of robust cash flows that can be used for both inorganic and organic expansion.Nazara purchased a 50.91 percent share in Paper Boat Apps in 2019.  

Why there may be more hospital mergers in the second half of 2024

Thus far in 2024, the quantity of hospital mergers is roughly equal to the quantity of agreements declared in the previous year.The healthcare consulting firm Kaufman Hall reports that in the first half of 2024, there have been 31 hospital mergers that have been announced. Kaufman Hall reports that there were 65 hospital deals announced in 2023, up from 53 transactions in 2022.Twenty acquisitions were made in the first quarter of 2024—the most in a first quarter since 2020—but eleven merger announcements were made in the second quarter.Despite fewer sales, the second quarter's transacted revenue of $10.8 billion was still very close to all-time highs, according to Kaufman Hall.According to Anu Singh, managing director of Kaufman Hall, there are several reasons that could contribute to increased deal-making in the second half of the year and beyond, independent of the quantity of agreements or revenue. Singh listed several elements in an interview with Chief Healthcare Executive® that ought to encourage further hospital mergers. And he adds a major contributing factor is that many hospitals are still having financial difficulties, even while certain hospitals and health systems are doing better. While they have been able to somewhat recover, several smaller hospitals are looking to combine. They want to find a deal before things get worse. Additionally, companies are saying things like,We're making every effort to lessen the negative cash flow, but we'll never get back to that.  

F&O-banned stocks on July 15, 2024

On Monday, July 15, 2024, the National Stock Exchange (NSE) imposed a trading suspension on eleven equities in the futures and options (F&O) segment.These stocks were prohibited because their market-wide position limit (MWPL) exceeded 95%. These equities can still be traded in the cash market even though they are prohibited in the F&O segment.The list of securities subject to the F&O prohibition is updated on a regular basis by NSE. The following stocks are prohibited as of July 15:Aditya Birla Fashion and Retail Balrampur Chini Mills Bandhan Bank Chambal Fertilisers and Chemicals GMR Infra GNFC IEX India Cements Indus Towers Piramal Enterprises RBL BankDerivative contracts for these securities were included in the embargo period, according to the NSE, because they exceeded 95% of the MWPL. Clients and members may only trade in these assets' derivative contracts during this prohibition period in order to offset their positions and decrease their holdings. Any increase in available employment will be met with the proper legal and disciplinary measures. During the ban period, no new positions are allowed in the F&O contracts of stocks.  

Kewal Kiran pays Rs 166.51 crore to purchase a 50% stake in Kraus.

Owner of the menswear brands Killer, Integriti, Lawman Pg3, and easies, Kewal Kiran Clothing Limited, has acquired a 50% stake in Kraus Casuals Private Limited for ₹166.51 Crore.By doing this, the company has entered the market for women's denim and casual clothing.KCPL is a manufacturer, retailer, designer, and exporter of women's clothing, with an emphasis on denim bottom and top wear as well as casual attire for women, youths, and children. It now operates under the Kraus jeans brand.The company used to operate as a partnership under the name Oriental Trading Company.Kraus sells through 1,000 large format retailers like Lifestyle, Pantaloons, Reliance, Shoppers Stop, and Lulu, whereas KKCL has a network of 488 exclusive brand sites."We will grow in this category as well with today's acquisition," KKCL Chairman and Managing Director Kewalchand Jain said. "We have been attempting to purchase a women's wear brand." Please send suggestions and comments to editorial@iifl.com.  

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In H1, bankers collected $243.8 million in ECM fees, the most since 2007.

With $3.3 billion in related proceeds and an 11.3 percent market share, Citi tops the list for underwriting India-domiciled ECM activities.According to a research by LSEG Deals Intelligence, investment bankers collected $243.8 million in equity capital market (ECM) underwriting fees in the first half of the year, up 127% over the same period last year and the biggest amount since 2007.With $3.3 billion in related proceeds and an 11.3% market share, Citi tops the list for underwriting India-domiciled ECM activities.According to the LSEG report, ECM activity reached a new high and raised $29.5 billion in the first half of 2024, up 144.9 percent from the same period the previous year. This was the highest-ever semi-annual total by proceeds. The number of ECM products increased by 63.8% in the past year. Indian issuers made $4.4 billion from their initial public offerings (IPOs), a 97.8% increase over the same period last year. The number of IPOs also increased by 70.6% year over year. 85 percent of India's total ECM proceeds were from follow-on offers, which raised $25.1 billion, a 155.7 percent increase from the previous year and a 56.4% year-over-year increase in the number of follow-on offerings.The bulk of ECM activity in the country was accounted for by ECM issuance by India's industrials sector, which held a 21.4% market share and generated $6.3 billion in proceeds, a 96.2 percent increase from the previous year. The telecommunications industry gained a 16.6% market share, with revenues much higher than in the first half of 2023. Completing the top three was Financials, which raised $4.3 billion, or 57.2 percent more than the previous year, and commanded 14.5 percent of the market.  

Will the wave of mergers lead to sustainable re-rating History is favoring a Yes. 5 cement stocks with upside potential of up to 44%

When the monsoon arrives, cement is one type of stock that experiences pressure. This time is no exception; pressure has been placed on the stocks. However, a distinction has also been made between a cyclical downward tendency and better or worse business and operating conditions than in recent years. The pressure and cement offtake condition has improved within the past three years.It has been observed that demand is not declining as sharply as it formerly did. This could be due to the fact that infrastructure is receiving significantly more attention overall or that as the economy expands, cement producers will experience an improvement in their overall demand matrix. Cement is currently going through a wave of consolidation, similar to how other industries have experienced it. There are numerous historical cases where mergers and acquisitions have occurred before the following cycle of stock re-rating.It has been observed that demand is not declining as sharply as it formerly did. This could be due to the fact that infrastructure is receiving significantly more attention overall or that as the economy expands, cement producers will experience an improvement in their overall demand matrix. Cement is currently going through a wave of consolidation, similar to how other industries have experienced it. There are numerous historical cases where mergers and acquisitions have occurred before the following cycle of stock re-rating.  

India Inc. reports 501 transactions in Q2 2024, totaling $21.4 billion Report

In Q2 2024, India Inc. recorded 501 agreements totaling USD 21.4 billion, according to Grant Thornton Bharat Dealtracker.The consulting group reports that Q2 2024 had the largest quarterly volumes in the previous two years, but values fell as a result of the lack of significant M&A deals.Together, the merger and acquisition (M&A) and private equity (PE) agreements totaled 467, valued at USD 14.9 billion. This represents a 9% rise in volume but a 28% fall in value, mostly because of the USD 8.5 billion Reliance-Disney mega-merger from the previous quarter, according to Grant Thornton. A $1 billion deal and thirty high-value deals (over USD 100 million) were completed in the just concluded quarter, representing a 58% increase in high-value deals over the prior quarter.Due to geopolitical unrest, cross-border transactions are dropping; yet, traditional sectors saw volume growth over the prior quarter. "With recent election results and anticipated policy clarity from the upcoming budget, political stability is expected to boost investor confidence and drive deal activity in the next six months," added the statement. Large domestic deals and strong private equity activity were observed throughout the quarter, according to Shanthi Vijetha, Partner, Growth at Grant Thornton Bharat.  

M&As reach unprecedented levels in India These are Q2 2024's best offers.

In the second quarter of 2024 (Q2 2024), dealmaking activity in India reached unprecedented levels, as per Grant Thornton Bharat Dealtracker.Record-breaking 501 agreements totaling $21.4 billion were completed in the second quarter of 2024—the biggest quarterly volume since Q2 2022.  Together, M&A and PE transactions totaled 467, with a combined value of $14.9 billion. In comparison to the previous quarter, this amounts to a 9% increase in volumes but a 28% fall in values, mostly because there were no mega-mergers like the Reliance-Disney deal in Q1 2024.High-value transactions (those worth more than USD 100 million) increased significantly during the quarter, from just 19 (including three deals above $1 billion) to 30 (a 58% increase).Indian corporations have a strong belief in the local investment climate, as seen by their expanding domestic investment. Due to geopolitical unrest, cross-border transactions are dropping, but conventional sectors saw volume growth over the prior quarter. Political stability is likely to increase investor confidence and spur deal activity in the next six months, according to Grant Thornton in a research, given the results of the most recent election and the anticipated policy clarity from the incoming budget.Conventional industries such as manufacturing and pharmaceuticals had a lot of deal activity in Q2 2024 and accounted for over half of all deal values.  

Offering to buy 31.6% of UAE-based RAK Cement Co. is UltraTech Cement.

UltraTech Cement, a part of the Aditya Birla group, announced on Monday that it has submitted a bid to purchase a 31.6% share in RAK Cement Co., located in the United Arab Emirates, for White Cement and Construction Materials PSC (RAKWCT).UltraTech Cement Middle East Investments Ltd (UCMEIL), a fully-owned subsidiary of the cement manufacturer in India, would handle this in the United Arab Emirates.UCMEIL will invest in 29.39% of the equity share capital of 'Ras al Khaimah Co. for White Cement and Construction Materials PSC' (RAKWCT), a company listed on the Abu Dhabi stock exchange, according to a statement released by UltraTech on April 15.At the time, it had disclosed an investment of $101.10 million, or around Rs 839.52 crore, for a 29.39% ownership stake."We now write to inform you that UCMEIL has notified its intention of making a partial conditional cash offer for acquiring 158,049,610 shares, representing 31.6 per cent of the issued and paid-up share capital of RAKWCT," it stated. It further stated that this will be in compliance with Article 10 of the decision made by the chairman of the Securities and Commodities Authority's Board of Directors about the UAE's "takeover code," which governs the merger and acquisition procedures for publicly traded firms.  

Indian competitor Koo quits down following unsuccessful acquisition negotiations

"To construct ambitious, world-beating products from India, whether in social media, Al, space, EV, or other futuristic categories, patient, long-term finance is necessary. When a global powerhouse already exists in the space, a lot more capital would be required, as stated by cofounder Mayank Bidawatka and Radhakrishna in a joint post. The founder of the Indian social media service Koo, Aprameya Radhakrishna, announced on LinkedIn on Wednesday that the app is closing down. Koo was formerly thought of as a competitor to the microblogging site X.According to people with knowledge of the situation, the founders' decision came after repeated rounds of negotiations failed to result in a possible sale or merger with several companies, including Dailyhunt.  

Campaign Soulful Solitaires is launched by Vummidi Bangaru Jewellers.

Mr. Amarendran Vummidi, a trained gemmologist, provides the team with expert direction as they carefully select and construct each solitaire from VBJ.Chennai: The "Soulful Solitaires" campaign was introduced today by Vummidi Bangaru Jewellers, a reputable jewelry brand in India. With decades of experience, VBJ is the preferred choice for clients looking for natural diamond solitaires. All of their Indian and US showrooms feature a distinctive collection ranging in carat weight from 0.3 to 5.0.Every solitaire that leaves the VBJ home is flawless and has the endorsement of Mr. Amarendran Vummidi, managing partner of Vummidi Bangaru Jewellers, a skilled gemmologist. Amarendran Vummidi revealed further information on the campaign by saying, "I am fully involved in the manufacturing process – right from selection till the product goes to the customer."  The finest quality is achieved at VBJ because we pay close attention to each VBJ solitaire diamond's cut, color, clarity, and carat. perfect glimmer and gloss. Our clients have always been enamored with and have included our skillfully created solitaire diamonds in their memorable occasions. Our vast assortment of solitaires, which we have created, offers a wide range of options that are sure to delight our consumers.  

Codorus Valley Bancorp Inc. and Orrstown Financial Services Inc. are merging as equals, and Holland & Knight is advising the former.

July 2, 2024, in Philadelphia The parent company of PeoplesBank, Codorus Valley Bancorp Inc. (NASDAQ: CVLY), merged with Orrstown Financial Services Inc. (NASDAQ: ORRF) and its wholly owned subsidiary, Orrstown Bank, in an all-stock deal estimated to be worth $207 million. Holland & Knight provided advice on the merger. The transaction, which finalized on July 1, would establish a superior community bank operating under the name "Orrstown Bank" across Pennsylvania and Maryland. The combined business will have over $5.2 billion in assets and a market value of about $460 million, with 51 branches serving communities in Central and Eastern Pennsylvania as well as Greater Baltimore.Paul J. Jaskot, a partner at Holland & Knight, oversaw the company's Codorus Valley presence. Partners Travis Nelson, Roger Lane, John Martini, and Associates Francesco Salpietro, Nicole Martini, Kelcie Ouillette, Caitlin Simkins, Ryaan Ibtisam, Charnae Supplee, and Michael Romeo all provided assistance for him.  

Might Paramount+ and Max Merge? Warner Bros. Discovery is willing to investigate a joint venture with Paramount Streaming.

Sources claim that Warner Bros. Discovery has expressed early interest in investigating a joint venture with Paramount Global to merge WBD's Max and Paramount+.Following the cancellation of merger negotiations with Skydance Media by controlling shareholder Shari Redstone last month, Paramount Global is moving forward with a new strategic plan led by three co-CEOs to reduce expenses, investigate the sale of specific assets, and boost Paramount+'s profitability through a potential joint venture with another player.Warner Bros. Discovery is one possible streaming dance partner for Paramount. According to a source, WBD is interested in exploring a streaming joint venture with Paramount Global, as CNBC initially revealed.Warner Bros. Discovery's investigation into the viability of a streaming joint venture with Paramount is hardly surprising, considering how openly Paramount Global's executive team has expressed their wish to find a partner. Right now, the scenario essentially entails each corporation testing the feasibility of a partnership in this manner.Representatives from Paramount Global and Warner Bros. Discovery declined to comment. Chris McCarthy, one of the three heads of the Office of the CEO and the CEO of Showtime/MTV Entertainment Studios and Paramount Media Networks, spoke about two possible streaming collaborations during the company town hall meeting on June 25 at Paramount Global.The first choice is to establish a close, long-term partnership with a top technological platform that currently possesses the entire scope that we are attempting to achieve. McCarthy addressed the staff at the town hall, saying, "But what they lack is our scale of content, and together we will make for a very powerful combination to drive more minutes and greater profits." "And this would enable us to allocate a larger portion of our budget to our core competency, which is creating viral content."