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Indian benchmark indices BSE Sensex and NSE Nifty 50 may open flat with a positive bias on Tuesday amid mixed global cues. SGX Nifty was up in green ahead of the session hinting at a flat to positive start for the domestic share market. “With no respite on the global front and a resumption of selling from foreign investors, we expect markets to remain under pressure and test the 16,800-16,900 zone in Nifty. Select pockets from FMCG, pharma and IT are showing resilience while the majority are reeling under pressure. Participants should align their positions accordingly,” said Ajit Mishra, VP – Research, Religare Broking.

Also Read: Sensex ends at 2-month low, Nifty support shifts to 200-day SMA at 16850; use volatility to buy quality stocks

Embassy REIT: Blackstone Inc is reportedly slated to sell 7.7 crore units of Embassy REIT worth Rs 2,650 crore via block deals on Tuesday (27 September). The offer price of the block deal stands at Rs 345 per unit, 1.82 per cent lower against Monday’s closing price of Rs 351.40 on the BSE. IIFL, BofA, and Morgan Stanley are brokers to the deal, according to media reports.

Jubilant FoodWorks: The Dominos operator informed in an exchange filing on Monday that it has acquired a 29.24 per cent stake on a fully diluted basis in Roadcast Tech Solutions Pvt Ltd. The acquisition of the remaining 10.58 per cent stake (on a fully diluted basis) is likely to be completed by October 26, 2022. Jubilant FoodWorks had entered into a share subscription agreement, shareholders’ agreement and share purchase agreement dated 28 July to acquire a 40 per cent stake in Roadcast.

Mahindra Logistics: The company has acquired the business-to-business (B2B) express unit of logistics startup Rivigo in a slump sale for Rs 225 crore. The deal is expected to close on or before 1 November. Under the agreement, Mahindra Logistics will acquire the express business through a business transfer agreement (BTA), including the customers, team, and assets of Rivigo’s B2B express business, its technology platform, and the overall brand.

Forbes & Company: The listed arm of Shapoorji Pallonji Group on Monday announced the demerger of its precision tools and machine parts business. According to the scheme of arrangements approved by the board of directors of the company, the new entity will be called the Forbes Precision Tools and Machine Parts Limited (FPTL). The new entity will be carved out of the existing company Forbes & Co.

Also Read: RBI MPC likely to raise repo rate 50 bps to tame inflation; may pause rate hike after Dec monetary policy

Amara Raja Batteries: The company said its board has given approval to the demerger of plastic component for battery business with the name of Mangal Industries. The turnover of the said business as of March 2022 was Rs 569.4 crore.

Orient Bell: The company announced completion of expansion at its Hoskote plant in Bengaluru district. This expansion involved a capex of around Rs 34 crore well ahead of schedule. With this, the total capacity of the company has increased from 32 MSM per annum to 33.8 MSM per annum including 10 MSM per annum of the associated entities.