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Key benchmark indices closed higher after various news reports said that Russia and Ukraine have begun peace talks at Belarus border. Metal, Energy and IT stocks pushed the indices higher. The Sensex ended 0.7% higher and Nifty rose 0.81%.
Top gainers among Nifty sectoral indices were Metal [4.95%], Energy [2.63%] and IT [1.11%]. Top losers were Auto [-0.69%], Bank [-0.62%] and Financial Services [-0.54%].
Indian rupee slipped 5 paise to 75.34 against the US dollar.
Stock in News Today
Biocon Ltd: The biotechnology company’s subsidiary Biocon Biologics Ltd (BBL) will acquire the biosimilars business of its partner Viatris for up to $3.335 billion. Viatris will receive consideration of up to $3.335 billion, including cash up to $2.335 billion and compulsorily convertible preference shares (CCPS) in Biocon Biologics Ltd, valued at $1 billion. The deal is expected to close in the second half of the calendar year.
Tata Consultancy Services (TCS): The IT major announced the availability of its TCS Intelligent Urban Exchange (IUX) and TCS Customer Intelligence & Insights (CI&I) software in the Microsoft Azure Marketplace. The software will empower businesses and governments to deliver hyper-personalized customer experiences, resilient enterprises, smarter cities and sustainable operations.
Rain Industries: Shares of the company tumbled 7.25% to Rs 184.75 after the company posted a consolidated net loss of Rs 97 crore in Q4 December 2021 as compared to a net profit of Rs 307 crore in the year-ago period. The company’s net sales jumped 52.5% to Rs 4,026 crore in the reported quarter from Rs 2,640 crore posted in the corresponding quarter last fiscal.
Unichem Laboratories: The company received the US health regulator FDA’s approval for its divalproex sodium extended-release tablets, 250 mg, and 500 mg. The tablets are indicated for treatment of acute manic or mixed episodes associated with bipolar disorder. Shares of the company ended 2.32% lower.
Piramal Enterprises: The company has approved the issuance of secured, rated, listed, redeemable, principal protected, market linked non-convertible debentures up to Rs. 100 crore along with an option to retain over-subscription of up to Rs. 400 crore aggregating up to Rs. 500 crore on private placement basis.
Religare Enterprises Ltd: Shares of the company closed nearly 2% lower after it informed the exchange that its subsidiary Religare Finvest defaulted on interest payment to bond holders due on February 25 due to asset liability mismatch, that arose out of siphoning and misappropriation of funds by erstwhile promoters of its parent company.
Ugro Capital Ltd: The NBFC announced that its Investment and Borrowing Committee has approved a fund raising of Rs 50 crore with an option to retain over-subscription up to Rs 50 crore, aggregating up to Rs 100 crore. The company will raise the funds via three series of different maturities and tenures. The proposed debentures will be listed on both the stock exchanges.
Aurionpro Solutions: The company’s subsidiary SC Soft has won orders to design, develop & supply on-board validators supporting the upgradation to EMV open loop ticketing for the 200 pilot buses in Costa Rica. The order includes delivery of SC SOFT’s SCV 500 touch screen EMV validators, supporting validation of QR ticket. The order is valued at $225,000 which covers the supply of equipment and implementation by the end of second quarter of CY2022, followed by the maintenance & support post warranty.