Morning Alert.. *India emerges as a curious mkt in global rest | Equity99

Morning Alert..
*India emerges as a curious mkt in global restructuring of industrial majors*
In the past few years, global industrial majors have busied themselves with the revamp of their business structures. Amidst these amalgamations and demergers, many of these are also navigating Indian regulatory requirements and shareholder concerns along the way. Linde Plc, Siemens, and GE are three such entities that have made changes to their global business structures in the past few years. Globally, Linde and Praxair are a merged entity named Linde Plc. In India, however, their listed entities operate separately. In a latest development, related party transactions between the two Indian entities have landed Linde in trouble with the market regulator. An email query sent to Linde India on Thursday remained unanswered. Proxy advisory firm Institutional Investor Advisory Services (IiAS) in a report on March 28, noted, “Linde India’s parent filed a writ petition in January, in connection with SEBI seeking financial information and details regarding certain business transactions of the company. SEBI has also issued summons to the parent's management and directors.” The note said Linde Plc has filed a writ petition seeking to quash the proceedings and a stay in the interim.

*Global market action*
Dow Jones – Up by 0.06% or 22.91 points
FTSE – Down by 0.81% or 64.73 points
CAC – Down by 1.11% or 90.24 points
DAX – Down by 1.24% or 228.09 points
Gift Nifty – Up by 0.15% or 34 points

*FII/DII activities*
FII – Bought 1659.27 Cr worth of shares
DII – Sold 3370.42 Cr worth of shares.

*Stocks with high delivery Percentage*
Vijaya Diagnostic Centre – 92.3%
Grindwell Norton – 89.8%
Poly Medicure – 89.4%
Route Mobile – 85.7%
Sonata Software – 82.6%

*Primary market activities*
IPOs opening today
DCG Cables & Wires Ltd (NSE SME) – Issue size 49.99Cr
Teerth Gopicon Ltd (NSE SME) – Issue size 44.40Cr

Listing today
Jay Kailash Namkeen Ltd (BSE SME) – Subscribed 40.02x
K2 Infragen Ltd (NSE SME) – Subscribed 51.47x
Yash Optics & Lens Ltd (NSE SME) – Subscribed 42.17x

*Commodities updates*
Gold – Rs 72840/10gm, Silver – Rs 80850/kg, Brcrude – Rs 7286/barrel, Copper – Rs 801.25/kg.

*Corporate News*
Adani to invest Rs 2.3 trillion in renewable energy, manufacturing capacity.

Mahindra EPC bags an order of Rs 13.2 crore for supply of Micro Irrigation Systems from the Office of the Asst. Engineer.

Voltas has achieved the landmark of highest ever AC sales in FY24. The company achieved over 2 million AC units during this fiscal 2023-24, the highest ever sale of ACs by any brand in a financial year in India, with a volume growth of 35%.