Market-Report-August 30

 Global

• Canada detects first case of highly mutated coronavirus variant BA.2.86. The individual is not hospitalized, and the detection of BA.2.86 virus has not changed the risk to people in British Columbia, the province’s top doctor, Bonnie Henry, and Health Minister Adrian Dix said in a joint statement.

• OpenAI on track to generate more than $1 billion revenue over 12 months. The Microsoft-backed company is generating more than $80 million in revenue per month, compared to just $28 million in the entire last year, the report added.

• Ukraine says downed 28 missiles, and 15 attack drones overnight. Twenty-eight cruise missiles and 15 attack UAVs (unmanned aerial vehicles) were destroyed, the Air Force said in a statement, adding that Russian forces had deployed a total of 44 projectiles.

• From rice to palm oil, Asian crops output forecast lower as El Nino strengthens. While wheat output forecasts are being revised lower due to dry weather in Australia, the world’s second-largest exporter, record-low monsoon rains are expected to reduce the volume of crops, including rice, in India, the world’s biggest shipper of the grain, meteorologists and analysts said.

 India

• SHAKTI PUMP wins large order worth 358crores from Haryana renewable energy Department

• ONGC: The Company will invest about Rs 2 lakh crore to achieve zero carbon emissions by 2038, its chairman Arun Kumar Singh said on Tuesday. It will invest Rs 1 lakh crore by 2030 in setting up 10 gigawatts of renewable energy capacity, green ammonia plant, and offshore wind energy projects, the remaining would be used to achieve Scope-1 and 2 net zero carbon emissions.

• IOC | BPCL | HPCL: Government Writes To Oil Marketing Companies Asking Them To Decrease The Effective Cost of Subsidized Domestic LPG by Rs 200 per 14.2 Kg Cylinder With Effect From 30-August

• HCL Tech: The company announced an exclusive preferred professional services agreement with Cloud Software Group to help implement, upgrade, modernize, and provide services for all TIBCO products for enterprise customers across the globe

• Zomato:10 cr shares (1.17% equity) worth Rs 947 crore change hands at Rs 94.70/sh in the block deal window, SVF Growth Fund is likely a seller in the Zomato block deal

• BSE changed the expiry date for its banking index to Monday from Friday effective October 16. Existing contracts of the BSE Banking index will expire on October 13, 2023

• Lupin Pharma Canada Ltd., a wholly-owned subsidiary of Lupin, launched Propranolol LA (long-acting) capsules of 60 mg, 80 mg, 120 mg and 160 mg, in Canada

Capacite Infraproject: Goldman Sachs Investments (Mauritius) sold 3.75 lakh shares (0.5%) at Rs 203.19.
Rattanindia Power: ABARC-AST-002-TRUST sold 5.4 crore shares (1%) at Rs 5.84.
Reliance Power: Citadel Securities bought 2.2 crore shares (0.6%) at Rs 18.22.
APL Apollo Tubes: Rahul Gupta sold 15 lakh shares (0.5%) at Rs 1,621.46.
Ami Organics: Girishkumar Limbabhai Chovatia sold 6.2 lakh shares (1.7%) at Rs 1,250.39., and Morgan Stanley Asia bought 6.2 lakh shares (1.7%) at Rs 1,250.