Market Update
Europe open Firm :FTSE +0.3%DAX +0.7%CAC40 +0.8%FTMIB +0.3%IBEX +0.6%

In China the SCI closed up +0.9% and CS1300 Index also up +0.9%
IPO mart ignores global mkt anxiety, Mahanagar Gas sees brisk buying
Rs 1,040 crore issue had received bids for 2,42,66,620 shares, which were 1.39 times the total issue size, data with stock exchanges BSE and NSE showed.

Tech Mahindra Limited, a leading provider of IT, Networks & Engineering solutions and BPO services announced the acquisition of The BIO Agency (BIO), headquartered in the UK. The BIO Agency specialises in digital transformation and innovation, helping organisations change the way they engage with their customers. 

Ranked as leaders in their field, The BIO Agency Team helps businesses change in the new customer centric digital world. Their “innovation and strategy first” approach, plus experienced frameworks and delivery processes create true differentiation for their clients. The BIO Agency services brands across Financial Services, Retail, Property, Travel, and Technology sectors and the acquisition will help them make sizeable inroads into the Fortune 100 / 500 Telecommunications and Enterprise clients of Tech Mahindra.

Textile policy announcement likely next week, not today: Srcs Former textile secretary Rita Menon is happy with higher targets expected in the policy. Incentives are needed for the government manufacturer, which will help pick up exports, says Rajendran R of Lakshmi Machine.