News Wrap: Swiggy IPO; Gold Prices; UPI Facility For Feature Phones; JSW Steel Feb 2022 Output; Interim Dividend Announcement By Companies & More…
March 8, 2022:
Indian benchmark indices Sensex and Nifty50 ended in the green.
The 30-Scrip BSE Sensex ended 581.34 points or 1.10% higher at 53,424.09.
The NSE Nifty climbed 150.30 points or 0.95% to close at 16,013.45.
All the sectoral indices closed in the green territory, with Nifty IT, Media, PSU Bank rising more than 2.50 %.
BSE midcap and smallcap indices gained 1.46% and 1.33% each.
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JSW Steel Output Increases 21% YoY In February
JSW Steel saw its crude steel production growing up by 21% in February to 1.58 million tonnes compared with 1.31 mt logged in February 2021.
Flat steel output stood at 1.15 mt (9.27 lakh tonnes), up 25% YoY while long product increased 8% to 3.67 lakh tonnes.
The business's capacity utilisation was 88 percent, compared to 98 percent at Dolvi, where the company doubled capacity to 10 mtpa.
However, sequentially, the company's crude steel output fell 4% from 1.65 mt logged in January while flat and long products production dropped 8% and 2% in the same period.
Swiggy Selects JP Morgan, ICICI Securities For Its IPO
Online Food delivery platform Swiggy, has set off the preparations for the launch of IPO to raise around $1 billion. It has hired two investment banking firms, namely ICICI Securities and JP Morgan, for the proposed listing to take on rivals like Zomato, which made a blockbuster debut on the bourses in July 2021 but its stock price is dwindling lately.
Swiggy is likely to file the DRHP (draft red herring prospectus) with Sebi by June and it can get listed on bourses in 2022 or early 2023 depending on market conditions.
More To Know:
SEBI has asked Dish TV India to disclose the result of the AGM held on December 30, 2021, as early as possible to the exchanges. The order comes on the heels of a complaint lodged by YES Bank Ltd (YBL), IndusInd Bank and other shareholders.
Natco Pharma and its marketing partner Arrow International launched their first generic version of Revlimid (Lenalidomide capsules) in the US, in doses of 5mg, 1Omg, 15mg, and 25mg for the treatment of multiple myeloma in combination with dexamethasone, certain myelodysplastic syndromes, and mantle cell lymphoma.
NLC India announced an interim dividend of Rs 1.50 per equity share for FY22.
Metro Brands declared an interim dividend of Rs 1.50 per equity share on its face value of Rs 5 each for FY22.
Tata Motors has won a contract to supply 65 electric vehicles (EVs), including 60 Tigor EVs and 5 Nexon EVs, to Kerala State Electricity Board (KSEB). "This order is part of a competitive pan India tender, floated by KSEB in line with the state's vision 'Go Green/Carbon Neutral' by 2030," the Tata Group company said.
Larsen and Toubro has launched L&T SuFin, an integrated e-commerce platform for B2B industrial products and services.
Future Enterprises will hold the meeting with shareholders and creditors on April 20 and 21.
Alphabet Inc's Google would acquire cybersecurity firm Mandiant Inc for $5.4 billion in cash.
The Reserve Bank of India launched UPI '123PAY’ for feature phone users. It is a three-step method to initiate and execute UPI services for users who have less-advanced phones or have no internet connection in their mobile sets.
Adani Ports and Special Economic Zone Ltd (APSEZ) has entered into a contract with Indian Oil Corp Ltd (IOCL) to expand IOC's crude oil volumes at Mundra.
Non-banking financial company Shriram City Union Finance announced an interim dividend of Rs 27 per equity share for FY22.
Nickel prices increased more than twice to breach $100,000 per ton for the first time.
Sun TV declared an interim dividend of Rs 5 per share for FY 22.
On MCX, gold futures surged 1.80% to ₹53,500 per 10 gram, some thousands away to touch an all-time high of ₹56,200 in Indian markets.