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Deutsche Bank AG today sold 20.8 million shares of Ballarpur Industries at Rs. 1.1 apiece through a bulk deal on the National Stock Exchange.

The company’s consolidated revenue from operations was at Rs 842.6 crore, up 30% year-on-year. The company’s cement business yielded a revenue of Rs 834.20 crore, up 42% year-on-year and its Rayon and chemical business yielded revenue of 8.4 crores.

On Wednesday, 18100 and 18165 levels are likely to act as immediate resistance points for Nifty50. The supports come in at 18000 and 17930.

The Dow Jones Industrial Average fell 27.69 points, or 0.08 per cent, at the open to 36,404.53.

The NBFC, backed by TPG Capital, Sequoia, Matrix Partners, Norwest Venture, KKR, and TVS Capital, is looking at a valuation of more than $ 3 billion, said one of the people quoted above.

While Torrent Power is looking to raise about Rs 800 crore, Avaada Energy may sell local bonds up to Rs 1,400 crore.

M&M said that it expects to report 15-20 per cent annualised growth in sales over the next three years driven by its tractor and automotive business. Further, it expects the tractor business to grow 10 times over the next five years.

The Rs 180-crore planned dividend payout is Rs 6 per unit this quarter, with 35 per cent of the distributions tax free for unitholders. This takes total distribution to Rs 12 per unit since listing. It has a strong balance sheet with only 18.7 per cent loan-to-value ratio.

Analysts said, Nifty50 has sustained above short-term breakout points and critical moving averages, thus, their positive stance on Nifty50 stays intact.

“As volumes improve on the auto side, M&M can easily surpass the current margins and come close to about 13.5 to 14% margins over the next one year.”