News Wrap: TVS Motors' 1 Million Exports; Wipro Ventures Investment; Swiggy IPO; SRK As Thums Up Brand Ambassador; Bharatpe Sacks Ashneer Grover's Wife & More...
February 23, 2022:
Indian benchmark indices Sensex and Nifty50 closed in the red.
The 30-Scrip BSE Sensex ended 68.62 or 0.12% lower at 57,232.06.
The NSE Nifty plunged 28.95 or 0.17% to close at 17,063.25.
Except for oil & gas, IT, auto, and financial services, all other sectoral indices closed in the green territory, with PSU Banks and Reality indices climbing 1.04% and 3.15% each.
BSE midcap climbed 0.60%, and BSE smallcap jumped 0.93%.
Asian Markets Amidst Ukraine-Russia Tension:
Japan’s Nikkei 225 fell 1.71%.
South Korea’s KOSPI gained 0.47%.
Hong Kong’s Hang Seng index climbed 0.60%.
Australia’s ASX 200 ended 0.62% higher.
China’s SZSE Component Index closed 1.90% higher, and the Shanghai Composite rose 0.93%.
Top Stocks On Encome.io Dashboard:
Vodafone May Offload 5% Stake In Indus Towers To Bharti Airtel: Report
British telecom giant Vodafone is looking to offload 5% from its total 28% stake in Indus Towers to Bharti Airtel, according to industry sources.
According to the sources, the stake-sale to Bharti Airtel could be valued at over Rs 3,300 crore.
The proceeds from the sales will be deployed to pump up Indian entity Vodafone Idea.
Indus Towers Limited, erstwhile Bharti Infratel Limited, provides passive telecom infrastructure.
With around 1,84,748 telecom towers in its portfolio, the firm is one of the country's leading tower infrastructure suppliers, with a presence in all 22 telecom circles.
Indus Towers is a service provider to all wireless telecommunication service providers in India.
TVS Motor’s Two-Wheeler Exports Exceeds A Milestone Of 10 Lakh For The First Time
India’s leading two and three-wheeler maker TVS Motor Company announced that its two-wheeler exports surpassed the one million (10 lakh) mark in this fiscal. It is the first in the company’s history that they touched such a tremendous export milestone in a financial year.
The TVS Apache, TVS HLX, TVS Raider, and TVS Neo series are among the popular exports.
According to the firm, the 10 million mark in exports could be reached because of the worldwide rise in motorcycle sales.
TVS Motor has a presence in 80 countries in Africa, Southeast Asia, Central and Latin America.
More To Know:
Wipro Ventures, the strategic investment arm of IT services major Wipro, has invested in a US-based startup, vFunction.
SIS has received a contract worth Rs 225 crore from Mahanadi Coalfields to deliver security solutions to Mahanadi Coalfields at 18 sites across India for the next two year
Mahindra & Mahindra Financial Services, the non-rural NBFC has raised Rs 300 crore through bonds on a private placement basis. The company's board has approved the allotment of 3,000 secured redeemable non-convertible debentures (NCDs) of a face value of Rs 10 lakh each, summing to Rs 300 crore.
Satluj Jal Vidyut Nigam (SJVN), the state-run Hydroelectric power generation company has borrowed Rs 6,333.40-crore from a consortium of banks from India and Nepal for financing its Arun-3 power project in Nepal.
BharatPe laid off Madhuri Jain Grover, wife of the fintech startup’s co-founder and managing director Ashneer Grover, over-claimed financial irregularities and cancelled employee stock ownership plans (ESOPs) placed with her. Ms Madhuri has reportedly used the company funds for personal beauty treatments, purchasing electronic items and funding family trips to the US and Dubai. Besides, she used the company’s funds to pay her personal staff and produced fake invoices.
Indian food delivery company-- Swiggy to come up with an initial public offer (IPO) worth nearly $800 million early next year, reported Nikkei Asia.
Beverage major Coca-Cola has signed Shah Rukh Khan as the brand ambassador for Thums Up.
Refex Industries Limited's promoter Mr Anil Jain purchased 30211 equity shares (0.14%) of the company via open market purchase on February 9, 2022. Following this his stake in the company rose from 48,97,667 equity shares (23.32%) to 49,27,878 equity shares (23.46%).