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Benchmark stock indices pared losses and gained in the second half of the day, led by gains in index heavyweights including RIL, technology and auto stocks. The Sensex closed 1.22% higher and the Nifty jumped 1.16%.
Top gainers among Nifty sector indices were IT [1.96%], Energy [1.70%], Auto [1.19%], Private Bank [0.99%] and Bank [0.92%]. Top losers were Realty [-1.01%] and FMCG [-0.73%].
Indian rupee slipped 6 paise to 76.17 against the US dollar on Tuesday.
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Reliance Industries Ltd (RIL): The company’s telecom arm Reliance Jio is raising about Rs 5,600 crore through an offshore syndicated loan, the Economic Times newspaper reported, citing two sources with direct knowledge of the matter. The funds raised will be used for future capacity expansion and the agreement is likely to be signed this week. Bank of America, Credit Agricole, HSBC, SBI, Japanese banks MUFG, Mizuho and SMBC are likely to syndicate the five-year offshore loan.
Infosys Ltd: The IT bellwether will acquire digital experience and marketing agency, oddity, for a cash consideration of up to 50 million euros. The strategic acquisition will further strengthen Infosys’ digital experience capabilities in Germany, across Europe, and Northeast Asia.
YES Bank: The private-sector lender is in talks with Brookfield and BlackRock for raising capital against 5-10 per cent equity stake via qualified institutional placement (QIP), sources told ET NOW. The bank is also in discussion with multiple private equity players for raising Rs 10,000 crore, the report said.
Tata Motors: The automaker plans to increase prices of its commercial vehicles from April 1. The price hike will be in the range of 2-2.5%. The decision to hike prices comes amid a rise in price of commodities like steel, aluminium and other precious metals, and higher raw material cost.
SBI Cards and Payment Services: The company has inked a partnership with Nature’s Basket, India’s leading premium grocery store brand, to launch ‘Nature’s Basket SBI Card’. Nature’s Basket SBI Card will be available to customers by around first fortnight of April 2022.
BEML Ltd: The company has declared an interim dividend of Rs 5 apiece for equity share of face value of Rs 10 for FY2021-22. The company has fixed March 30 as the record data for the payment of interim dividend
Arvind Ltd: The apparel manufacturer has approved the appointment of Swayam Saurabh as the Chief Financial Officer of the company as well as a Key Managerial Personnel. Swayam Saurabh will replace Jayesh Shah, who will continue as Whole time Director and Group CFO. Sanjay Lalbhai has been reappointment as Chairman and Managing Director for a period of five years.
Jubilant Foodworks: The company will acquire 10% more stake in Jubilant Golden Harvest, from Golden Harvest. After this buyout, Jubilant Food would have 100% stake in Jubilant Golden Harvest, making it a wholly owned subsidiary Jubilant Golden Harvest has franchise rights to develop and operate Domino’s Pizza restaurants in Bangladesh. Shares of the company closed 3.14% higher.
Dhampur Sugar: The company’s board has declared an interim dividend of Rs 6 per share. The record dated for the interim dividend is March 31, 2022.
Sundaram Clayton: The auto ancillary company has announces an interim dividend of Rs 44 per equity share. The record date for such purposes is March 30, 2022. and the interim dividend will be paid on or after April 7, 2022.
Indoco Remedies Ltd: The pharma company said that it has received the final approval from the US health regulator for its generic Lacosamide tablet indicated for prevention and control of seizures.