The market fell 3 per cent, the biggest single-day fall since April 12, 2021, weighed by selling across sectors. The Ukraine-Russia standoff, rising oil prices, and potential Fed rate hike dampened the market sentiment for the second consecutive session on Monday. The BSE Sensex plunged 1,747 points to 56,406, while the Nifty50 fell 532 points to 16,843 and formed a large bearish candle on the daily charts, indicating nervousness going ahead.
Reliance Industries
Reliance Subsidiary Jio Platforms will invest $200 million in Glance, an artificial intelligence (AI)-driven lock-screen live content and commerce platform. Singapore-based Glance is an unconsolidated unit of InMobi Group, which is backed by technology giant Google and Silicon Valley-based venture fund Mithril Capital. Google also has investments in Jio as part of its Google for India Digitization Fund.
Eicher Motors
The two wheeler major said its consolidated net profit declined by 14.44 per cent to Rs 456.13 crore for the third quarter ended December 31, 2021, on account of lower sales due to semiconductor shortage. The company had posted a consolidated net profit of Rs 532.59 crore in the December quarter of 2020-21.
Adani Enterprises
The Adani Group’s flagship firm reported a 99.4 per cent decline in consolidated profit to Rs 1.80 crore for the quarter ended December 31, 2021. The company had posted a consolidated profit of Rs 343.17 crore in the corresponding quarter last fiscal.
Future Retail
The company’s consolidated net loss widened to Rs 1,063.36 crore for the third quarter ended 31 December from Rs 846.92 crore loss reported in the year-ago period. Total income during October-December jumped 86.85 per cent year-on-year to Rs 2,815.68 crore.
Vedanta Ltd
The company has partnered Taiwan’s Foxconn, the world’s largest contract electronics manufacturer, to make semiconductors in India, as they seek to capitalise on a global chip shortage and also benefit from the Indian government’s support towards chip manufacturing. Vedanta will be the majority shareholder in a new joint venture company with Foxconn.
Coal India
Has announced a second interim dividend of Rs 5 per share and the total payout will be Rs 3,087 crore. This will make the government richer by Rs 2,037.8 crore as it holds a 66.1 per cent stake in the miner. In the first interim dividend of Rs 9 apiece, announced in December, total payout was Rs 5546 crore and the government gained Rs 3,667 crore.
ONGC
Oil and Natural Gas Corporation’s (ONGC’s) delayed Krishna Godavari basin KG-D5 project is likely to hit peak oil and natural gas output in 2023-24 and will help the firm to reverse the downward slide in its overall production.
Cipla Ltd
Promoters of drugmaker Cipla Ltd, Yusuf Khwaja Hamied and Mustafa Khwaja Hamied, will sell up to 2.5 per cent of their stake in the company to institutional investors through a block trade that could fetch as much as Rs 1,849 crore, or $244.6 million. Cipla’s promoters held a 36.11 per cent stake in the company as of 31 December.
IndusInd Bank
An internal probe by the lender is said to have found procedural lapses by its wholly owned subsidiary Bharat Financial Inclusion (BFIL) in loan disbursements to microfinance borrowers at the peak of the pandemic. Deloitte India, which is doing an external review on the matter, is likely to submit its report in a week’s time.
SpiceJet Ltd
The budget carrier’s board will meet on February 15 consider and approve the third-quarter earnings. The meeting was earlier scheduled on Monday. The decision to defer the meeting was taken after the audit committee’s meeting on February 14 to approve third-quarter financial results remained ‘inconclusive’ and was adjourned to Tuesday.
BHEL, Indiabulls Housing Finance, Punjab National Bank, SAIL and Tata Power Company are under the F&O ban for 15 February. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 per cent of the market-wide position limit.
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