Stocks in news: Vedant Fashions, RIL, Burger King, Tech Mahindra and more
Stocks in news: Vodafone Idea, Indian Oil, RIL, Torrent Power, IDBI Bank, Burger King, Aditya Birla Fashion and Retail, Tech Mahindra, Vedant Fashions and more
Business Today Desk
Updated Feb 16, 2022, 9:15 AM IST
Stocks in news; Punjab & Sind Bank, IDBI Bank, Burger King, Aditya Birla Fashion and Retail, Tech Mahindra, Vedant Fashions and more
The Indian equity market is likely to open on a flat note today as SGX Nifty fell 9 points to 16,800.
On Tuesday, Indian equity market staged a strong rebound, erasing almost all losses from the previous session. Global market sentiment turned positive amid signs of easing tensions between Russia and Ukraine. Sensex ended 1,736 points higher at 58,142 and Nifty rose 509 points to 17,352. Bajaj Finance, SBI, Bajaj Finserv, L&T and Titan were the top Sensex gainers, rising up to 5.13%. All Sensex stocks ended in the green.
Here's a look at stocks that are likely to remain in news today.
Vedant Fashions: The firm will make its debut on the BSE and NSE today. The stock is likely to list on a flat note against its issue price of Rs 866 per share.
Tech Mahindra: The IT firm has bought 80 percent stake in Australian firm Geomatic.AI for a consideration of A$6m. "As part of this deal, Tech M will have 80 per cent shareholding in Geomatic.AI for consideration of Australian dollar 6 million. Ausnet will have 20 per cent shareholding and transfer digital workforce, intellectual property , assets and client contracts to the newly formed entity," as per a regulatory filing.
Reliance Industries: The Mukesh Ambani-led conglomerate has emerged as the highest bidder in the second round for bankrupt Sintex Industries Ltd offering Rs 3,405 crore, according to a report.
IDBI Bank: The government is likely to sell its entire stake (94.71%) in the lender next week.
Burger King India: The company has closed its qualified institutional placement issue and finalised the issue price at Rs 129.25 per share, a discount of 5 percent to the floor price of Rs 136.05 per share.
Aditya Birla Fashion and Retail: The company is likely to invest in and build as many as 30 internet-first brands in the next 3-5 years, according to a report.
Vodafone Idea: The loss-making telco has appointed SBI Capital Markets to negotiate the restructuring of loans worth Rs 20,000-23,000 crore which will become due for repayment within the next four years.
Indian Oil: The oil marketing company has delivered 40,000 metric tonnes of fuel to Sri Lanka to help ease the energy crisis faced by the island nation. Sri Lanka opted to buy 40,000 metric tonnes of diesel and petrol from Indian Oil Corporation (IOC) to meet the urgent energy requirements in the economic crisis worsened by depleted foreign reserves.
Torrent Power: The energy firm has bought a 25 MW solar power plant for about Rs 163 crore. The company said it has acquired 100% stake of Visual Percept Solar Projects Pvt Ltd, a special purpose vehicle (SPV) which operates 25 MW solar power plant in Gujarat.
Punjab & Sind Bank: The lender has declared IL&FS Tamil Nadu Power Company with outstanding dues of Rs 148.86 crore has been declared as a fraud account. The bank reported this fraud to RBI and has already made provisions amounting to Rs 59.54 crore.
Published on: Feb 16, 2022, 8:54 AM IST
Posted by: Aseem Thapliyal, Feb 16, 2022, 8:48 AM IST