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Domestic benchmark equity indices closed higher, led by gains in technology stocks, RIL and other index heavyweights. The Sensex closed 0.20% higher at 57901.14 and Nifty closed 0.16% higher at 17248.40.
Nifty IT closed 1.19% higher. Top losers were PSU Bank [-0.95%], Pharma [-0.885], Realty [-0.84%] and Auto [-0.73%]. RIL jumped 1.29%.
Indian rupee rose 15 paise to close at 76.09 against the US dollar on Thursday.
Stock in News Today
Vodafone Idea Ltd (VIL): The telecom company is likely to get equity infusion from owners Vodafone Group Plc and Aditya Birla Group, according to a news report by Economic Times. Vodafone Idea is expected to complete the capital raise by March 2022. Vodafone Idea is aiming at a four-fold jump in annual capital expenditure to $2 billion.
Infosys Ltd: The IT major has announced extension of its digital innovation partnership with Australian Open until the end of 2026. Tennis Australia and Infosys will continue to harness big data and analytics, artificial intelligence, virtual reality and cloud technologies to elevate the viewing experience. Shares of the company closed 2.16% higher at Rs 1771.60.
Hindustan Aeronautics Limited (HAL) and Bharat Electronics Limited (BEL): HAL has signed a contract with BEL for the development and supply of 20 types of systems for the Light Combat Aircraft (LCA) Tejas Mk1A program in Bengaluru. The five-year contract starting from 2023 is valued at Rs 2,400 crores and involves supplying critical avionics Line Replaceable Units (LRUs), flight control computers and night flying LRUs.
Larsen and Toubro Ltd: The power transmission and distribution business of the company secured large orders that are worth Rs 2500-5000 crore in domestic and international markets. In an exchange filing, the company said that it bagged an order to provide dynamic reactive power compensator system in Abu Dhabi among several orders in the middle east besides the order to build gas insulated substation in Bangladesh. In India, the company won orders for power distribution infrastructure creation in two circle areas of Bengaluru.
Tata Consultancy Services: The IT major has been selected by Plaza Premium Group (PPG), a global airport hospitality services provider, to develop end-to-end digital platform to improve customer experience and operational efficiencies in 70 airport locations serving 20 million passengers annually. The platform aims to simplify reservations, consumer engagement and create a 360-degree service-delivery scope.
Subros Ltd: The company in an exchange filing announced that it has secured an order from Indian Railways for supply of coach air-conditioners in a recently concluded tender. The company is already a supplier of rail driver cabin air conditioning system. Shares of Subros closed 4.56% higher.
Syngene International: The pharma company said in an exchange filing that it has extended its collaboration with US-based Amgen. The contract is extended till the end of 2026. The contract will include drug discovery, peptide chemistry, antibody and protein reagents, among others. Syngene also said it will build a dedicated laboratory for R&D project acceleration.
CarTrade Tech: The company is planning to utilise up to Rs 750 crore to strategically acquire and invest in companies that are in the automotive space. This includes companies such as auto finance, leasing, insurance, servicing, car ownership, EVs and new age technology. These measures will help the company to either enter a new market or bring new products and technologies to existing customers, Cartrade said in an exchange filing.
BEML Limited and RITES: BEML has signed a Memorandum of Understanding (MoU) with RITES Limited, a leading transport infrastructure consultancy and engineering company, to explore and jointly bid for opportunities in the fields of Metro systems and export of rolling stock. As part of the MoU, RITES will provide expertise in design, engineering, marketing and other support that may be required for tapping domestic and overseas opportunities. Meanwhile, BEML will be responsible for manufacturing of customised metro coaches and rolling stock.
EaseMyTrip: The online travel platform will buy YoloBus, a next-generation premium intercity mobility platform, for an undisclosed amount to expand its non-air business. The acquisition includes the brand name of YoloBus, its technology, team, running business and data expertise, the company said in a statement.
Tata Power: The utility company said its subsidiary TP Saurya has received a ‘Letter of Award’ from Maharashtra State Electricity Distribution Company (MSEDCL) for setting up a 300 MW hybrid (wind & solar) project. The project will be commissioned within 18 months from the date of PPA (power-purchase agreement) execution. With this, the total renewable capacity of Tata Power will reach 4,907 MW with an installed capacity of 2,953 MW and 1,954 MW under implementation.