Market Watch: Stocks in the Spotlight Today (December 11, 2023)

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Market Watch: Top 10 Stocks in the Spotlight Today (December 11, 2023)

Disclaimer: This article is purely an understanding of Gyaanleikh team and we don't allow anyone to rely on this and take any action. If any taken will be sole discretion of that person only!




1. Softbank Exits Zomato After Selling Remaining Shares:


SVF Growth (Singapore) Pte Ltd, a Softbank venture capital fund, has fully exited Zomato by selling all remaining shares (9.35 crore) at an average price of Rs 120.5 each, totaling Rs 1,127.5 crore.
This follows an earlier sale of 9.35 crore shares in October, marking the complete exit of Softbank from Zomato.

2. Adani Energy Appoints New CEO:


Bimal Dayal, currently CEO of the transmission business, has been promoted to CEO of Adani Infrastructure India.
He will oversee a vast pipeline of infrastructure projects across thermal, renewable energy, and green hydrogen sectors.'

3. Tata Motors to Increase Commercial Vehicle Prices:


The leading commercial vehicle manufacturer will increase prices by up to 3% effective January 2024.
This price hike aims to offset the residual impact of past input costs and applies to the entire commercial vehicle range.

4. GMR Airports Sees Ownership Changes:


Goldman Sachs and GQG Partners bought a combined 4.7% stake in GMR Airports through open market transactions.
Nomura and APG Emerging Markets Equity Pool also acquired minor stakes.
Meanwhile, other foreign investors like A/D Investors Fund LP and ASN Investments exited by selling their holdings.


5. Blue Dart Purchases Leased Aircraft:


The logistics company's board approved the purchase of two leased aircraft from DHL Aviation for Rs 40 crore.
These aircraft will be operated by Blue Dart Aviation, a wholly owned subsidiary.

6. Wipro Announces Leadership Change:


Chief Growth Officer Stephanie Trautman will resign from the company effective January 31, 2024.

7. TVS Motor Company Collaborates with Alpinestars:


TVS Racing and Alpinestars, a renowned brand of riding apparel and gear, have announced a partnership.
This collaboration aims to enhance the overall riding experience for TVS customers.

8. SpiceJet to Consider Capital Raise:


The airline's board will meet on December 11 to discuss and consider options for raising fresh capital.
This may involve issuing equity shares and/or convertible securities on a preferential basis.

9. Supreme Court Upholds SAT Order in Apollo Tyres Case:


The Supreme Court dismissed Sebi's appeal and upheld the SAT order quashing a penalty imposed on Apollo Tyres.
Sebi had accused the company of violating certain provisions of the Buy Back Regulations, 1998.

10. Other Notable Events:


Mahindra Logistics saw a partial stake sale by Goldman Sachs funds.
Deccan Value Investors Fund LP exited GMR Airports by selling its entire shareholding.
SpiceJet will announce its second-quarter financial results for 2023.
These are some of the significant market movements occurring today, December 11, 2023. Stay tuned for further updates and analysis as these stories unfold.

1. Leadership Changes:

Zomato: Softbank exits
Adani Energy: CEO appointment
Wipro: Chief Growth Officer resignation
2. Business Expansion and Investment:

Tata Motors: Commercial vehicle price hike
Adani Energy: Infrastructure projects
GMR Airports: Ownership changes and expansion plans
SpiceJet: Capital raise
3. Regulatory and Legal Updates:

Apollo Tyres: Supreme Court ruling on Sebi penalty
GMR Airports: AERA approves revised aeronautical charges
4. Partnerships and Collaborations:

TVS Motor Company: Alpinestars collaboration
Blue Dart: Aircraft purchase from DHL Aviation
5. Financial Performance:

SpiceJet: Q2 financial results announcement


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