February 22, 2022:

Indian benchmark indices Sensex and Nifty50 shed blood amid increasing tension between Ukraine and Russia. 

• The 30-Scrip BSE Sensex ended 382.91 points or 0.66% lower at 57,300.68.

• The NSE Nifty plunged 114.45 points or 0.67% to close at 17,092.20. 

All sectoral indices shed blood, with the metal index plunging 1.11 percent and reality index plunging 2.91 percent.

BSE midcap plunged 0.70%, and BSE smallcap fell 1.62%.

Top Stocks On Encome.io Dashboard:

News Wrap:

Big News: 

Jet Airways Appoints Ex-Srilankan Airlines Chief Vipula Gunatilleka As Chief Financial Officer

The promoters of Jet Airways, the Jalan Kalrock consortium, have appointed Vipula Gunatilleka for the role of the chief financial officer (CFO) at the airline, with a view that he will revive the grounded carrier.

Mr Gunatilleka was previously the CEO of SriLankan Airlines, and he will become a part of Jet Airways from March 1, 2022, onwards.

Mr Gunatilleka is famously known as a “turnaround specialist” and an aviation expert who handled “the most daunting task of leading Sri Lankan Airlines during the pandemic.”

“ Mr Gunatilleka was headhunted by the board in 2018 to re-structure SriLankan Airlines and in less than two years after assuming the duties as the CEO, the airline recorded positive EBITDA and cash flow for 2019-20 notwithstanding the devastating effects of the terror attacks in April 2019 in Sri Lanka followed by the global pandemic in early 2020,” a statement issued by Jet Airways said. 

Hero MotoCorp Partners With BPCL To Build Two-Wheelers EV Charging Infra 

India’s leading two-wheeler company Hero MotoCorp has inked a pact with Bharat Petroleum Corporation Ltd (BPCL) to build charging infrastructure for two-wheeled electric vehicles (EVs) across the nation.

As per the terms of the deal, the two companies will initially establish a substantial charging infrastructure at the already existing nationwide energy station network.

Following this, they may expand their partnership to grow more synergies within the EV ecosystem and related business verticals, allowing prospects to engage with them across the customer life cycle.

The charging stations will be established across nine cities, including Delhi and Bengaluru in the first phase. 

"The partnership with BPCL, which is already at the forefront of customer energy solutions, will be beneficial for both the EV segment and customers. This collaboration will also unlock opportunities for asset allocation and expansion in the future,” Hero MotoCorp Chairman and CEO Pawan Munjal said in a statement. 

More To Know: 

• Global oil benchmark Brent crude can see a jump of $5 to $20 per barrel if the Russia-Ukraine crisis escalates, Bank of America (BofA) Global Research, adding a dip of $2-$4 in prices can be observed if tensions ease. Oil prices are touching the skies, with Brent futures reaching $99.50 per barrel after Russia ordered troops into two breakaway regions in eastern Ukraine.

• IDFC First Bank Ltd.'s CEO gifted shares worth $530,000, which he owns, to his driver, trainer, and helpers at home and office in a gesture of philanthropy in India.

• Foreign Brokerage Barclays estimates India’s GDP to grow at 6.6% in the quarter ended December 2021 (Q3FY22) and 10% for the full financial year 2021-22.

• Hero MotoCorp appoints Ranjivjit Singh, who led Marketing, to the newly created management position of Chief Growth Officer to capitalize on potential post-Covid prospects.

• Adani Group has inked a non-binding pact with Nasdaq-listed Ballard Power Systems to form a joint venture for investment in the commercial production of hydrogen fuel cells for several mobilities and industrial applications in India.