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Businesses are typically structured as corporates or trusts. The VCC is a specialised structure intended for the asset management industry specifically.

Trent is divesting its stake of around 3.22% of Tata Unistore on a fully diluted basis to Tata Digital. The shares of TUL will be sold to TDPL for a total estimated value of ₹24.14 crore, with no consideration of cash, but in the form of Compulsorily Convertible Preference Shares of the promoter group company.

Once done, this would be the second largest hospital buyout in India after the IHH-Fortis transaction in 2018. This transaction will also give a presence in the South Asia healthcare market for Blackstone.

The proposed IPO will value the retail chain at Rs2500 crore

The three-day long primary offering will conclude on December 15, Thursday. Investors can make a bid of minimum of 55 equity shares and its multiple thereof.

The Dow Jones Industrial Average rose 98.05 points, or 0.29%, to 33,695.97 at the open

The stock ended 0.3% down at Rs 508.40 on the BSE. Year-to-date, the stock has fallen by more than 67%.

The announcement of a $500 million injection into its India unit comes after Reuters reported last month that Apple supplier Foxconn plans to quadruple the workforce at its iPhone factory in India over two years, with two government officials with knowledge of the matter pointing to a production adjustment as it faces disruptions in China.

Nifty at the close settled 49 points higher at 18,609, while Sensex ended 160 points higher at 62,571. Nifty PSU Bank emerged as the outperformer, logging gains of around 4%.

The inside body candle on daily charts is indicating non-directional activity and indecisiveness between bulls and bears. For bulls, 18,675 would be the important breakout level to watch out for. And above the same, we can expect a quick uptrend rally up to 18,800-18,835. On the flip side, trading below 18,500 may fuel further weakness up to 18,435-18,400.