A slight rise in SGX Nifty50 on Monday signaled a positive start for Dalal Street. At 7:16 a.m., the futures contract was up 0.4 percent to 16,720.5. Major benchmark stock markets broke the seven-day losing streak on Friday after an intense stock collapse. However, benchmark indices ended the weakness on a strong note as investors gobbled up shares at discounted prices.
Mahindra & Mahindra
M&M is likely to invest at least Rs 3,000 crore in electric vehicle (EV) development over the next three years, with capital expenditures for EVs and internal combustion engine vehicles approaching each other, according to a report.
Indian oil company
The PSU major is planning three new plants in the Northeast to increase its LPG bottling capacity by nearly 53 percent to eight crore cylinders per year by 2030 to meet growing demand in the region.
Hero MotoCorp
The country’s largest two-wheeler manufacturer expects the two-wheeler segment to make a strong comeback next fiscal year with a waning Omicron wave and a broader economic recovery in sight.
Hindalco Industries
The aluminum giant has entered into a share purchase agreement with Brazil’s Terrabel Empreedimentos, to divest its entire equity stake in Hindalco Do Brazil Industria Comercia de Alumina, its wholly retiring subsidiary.
Vodafone idea
The telecom operator is rearranging and streamlining its digital resources for consumers to sharpen its focus on driving operational scale and speed of delivery. VIL proposes to bring all digital resources of different functions into a more ‘holistic and integrated’ organization for the construction and delivery of digital products for consumers.
industrial towers
Vodafone Idea will sell its 4.7 percent stake in the telecom infrastructure provider to Bharti Airtel and the proceeds will be used to invest in Vodafone Idea and settle its dues to the mobile tower company.
Vedanta
The metal miner’s aluminum operations, which have not been hit hard by COVID-19, were set to focus on backward integration in the next fiscal year and would put two of its mines in Odisha into production to provide raw material security for its factories.
Pharma stocks
Leading homegrown drug makers Aurobindo Pharma and Sun Pharmaceutical Industries are recalling several products from the US market due to deviations from standard manufacturing standards.
Fortis Healthcare
The rating agency CRISIL has upgraded the long-term rating to ‘AA-‘, from ‘A+’ for the private hospital chain, and has been monitoring the rating for development implications. In addition, the short-term rating has been upgraded to A1+.
Religare Enterprises
Religare Enterprises’ subsidiary, Religare Finvest, has defaulted on the payment of interest to bondholders due on February 25 due to a mismatch of assets and liabilities resulting from the transfer and misappropriation of funds by former promoters of the parent company.
IIFL Effects
The NBFC player paid a settlement amount of more than Rs 2 crore to market regulator Sebi to settle a case. The company allegedly violated stock brokerage regulations and the regulations prohibiting fraudulent and unfair trading practices.
SJVN
The state-run energy player said it has won a 15MW grid-connected floating solar PV project in the Bilaspur district of Himachal Pradesh. SJVN has secured the full 15 MW quoted capacity on a build own and operate basis through e-Reverse Auction held by Solar Energy Corporation of India.
Hinduja Global Solutions
The subsidiary of BPO/KPO player, HGS International Mauritius, has completed the acquisition of Australian company Diversify. In January, the branch entered into a definitive agreement to acquire a 100 percent equity stake in Australia’s Diversify Offshore Staffing Solutions.
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