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It appears that block deals are here to stay. According to Nuvama Alternative Research, between August 22 and December 31, a total of 37 companies are slated to have their pre-listing shareholder lock-ins, both for promoters and non-promoters, lifted. The promoters and non-promoters may look to book profits through block deals when the lock-ins end
Nomura upgrades India to 'Overweight' citing strong top-down narrative and potential to benefit from 'China+1' theme.
The acquisition of shares for about INR 14.81 crore is targeted to be completed by March 31, 2024. Uno Minda and Westport are also amending the joint venture agreement to include future hydrogen components in addition to CNG/LNG/LPG components and kits in the JV territory of South Asia comprising India, Bhutan, Sri Lanka and Nepal, the company said.
Nomura, however, is cautious about Asian stocks due to risks from the Federal Reserve's long-lasting rate stance and rising commodity prices feeding into inflation in America
The brokerage is betting on auto, banks, capital goods, and healthcare sectors to do the trick for investors while putting its money on a dozen stocks including State Bank of India (SBI), Tata Motors, Dr Reddy's Laboratories, Gujarat Gas and Polycab India among others.