Auto Sector

Let us turn to the September 2023 mutual fund performance; across the gamut of equity and debt funds.

Positive data flows offset by event risks

Clarity on Fed move – elevated rates for longer

Dollar pressure on Rupee and Gold

Market breadth was positive, with 2246 stocks advancing, 1256 stocks declining, and 152 stocks remaining unchanged.

The restructuring is intended to divide the recycling, lead, zinc, and silver companies into independent legal corporations.

The company intends to secure Rs 80 crore through a pre-IPO placement round.

The IPO, featuring shares with a face value of Rs 10, exclusively comprises a fresh issue of equity shares, targeting proceeds of up to Rs 1,800 crore.

The company plans to utilize the proceeds from the fresh issue, amounting to Rs 240 crore, for debt repayment, with an additional Rs 10 crore allocated for the purchase of electric vehicles.

Sterling and Wilson Renewable Energy Limited (SWRE) has been notified of the award for the 300 MWac EPC project of NTPC Renewable Energy Limited (NTPC REL) at Khavda RE Power Park, Rann of Kutch in Gujarat.