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Domestic benchmark equity indices slumped as investor sentiments were dampened after the Fed’s hawkish stance on Wednesday. The Sensex fell 1.4% and the Nifty tanked 1.32%.
In broader markets, Nifty Midcap 100 index plunged 1% and the BSE Smallcap index lost 0.61%.
Top losers among Nifty sectoral indices were IT [-2.11%], Media [-2.08%], PSU Bank [-1.88%], Metal [-1.43%] and Realty [-1.3%]. All other indices ended in the red.
Indian rupee slipped 30 paise to 82.76 against the US dollar on Thursday.
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Delhivery: The logistics company announced that they have gone live on ‘Open Network For Digital Commerce’ as their logistics provider. Sellers on ONDC will now be able to leverage Delhivery’s network of 18,000+ pin codes in India.
Bharti Airtel and Tech Mahindra: Airtel and Tech Mahindra have partnered to deploy a 5G captive private network at Mahindra’s Chakan manufacturing facility. The ‘5G for Business’ solution has significantly enhanced Chakan’s network connectivity that has resulted in improved speeds for software flashing, a critical operation for all vehicular dispatches. The Department of Telecommunications had issued rules for enterprises setting up captive non-public networks in June this year.
Larsen & Toubro (L&T): The infrastructure company has won two significant orders worth Rs 1,000-2,500 crore. L&T Energy Hydrocarbon-Asset Management has secured an operations and maintenance contract from Vedanta and Cairn Oil & Gas division. AdVENT business vertical has received an engineering, procurement and construction contract from a subsidiary of Nippon Sanso Holdings Corporation.
Eclerx Services: The company’s board has approved a buyback price of Rs 1,750 apiece aggregating up to Rs 300 crore. The company will buy up to 17.15 lakh shares, representing a 3.38% stake.
TVS Motor Company: The company announced its partnership with Gameloft for brands for Asphalt 8: Airborne featuring its flagship motorcycle, TVS Apache RR 310. TVS Motor will be the first Indian two-wheeler manufacturer to bring a virtual racing experience of its motorcycle to Gameloft’s Asphalt 8, one of the world’s leading motor racing game.
Kalpataru Power Transmission (KPTL): The company announced that it has received new orders worth Rs 1,397 crore in India and overseas market in the T&D (Transmission and Distribution) business. The company said their year-to-date FY23 order intake has reached Rs 15,784 crore at consolidated level.
KPI Green Energy: The company announced that one of India’s leading solar panel manufacturing company, has given a new order for the execution of Engineering, Procurement, Construction, and Commissioning (EPCC) of a solar power project of 33 MWp capacity under ‘Captive Power Producer (CPP)’ segment of the company. In addition, the order also entails 25 years of Operation & Maintenance and Land Lease Agreement, through KPIG Energia , a wholly owned subsidiary of the Company. The project is expected to be completed in the year 2023 in various tranches as per the terms of the order.
Ramkrishna Forgings: The company’s board has approved an investment to acquire up to 51% voting rights of TSUYO Manufacturing (TSUYO), a start-up company engaged in powertrain solutions for electric vehicles. The company plans to invest around Rs 100 crore over the next five years, which is expected to generate a turnover of around Rs. 500 crore by the end of the fifth year.
Tips Industries: The company said in an exchange filing that Sunil Chellani has resigned from the position of chief financial officer (CFO) of the company with effect from close of business hours on December 14. Chellani also ceased to be a key managerial person (KMP) of the company from the same date. Further, the board has approved the appointment of Sushant Dalmia as the CFO and KMP of the company with effect from December 15.
Sapphire Foods: The company shares jumped 6.41% in intraday trade after the counter witnessed large block deals on Thursday. Sapphire Foods is a leading YUM franchisee operator in the Indian subcontinent with presence in India, Sri Lanka and Maldives. It is the largest international QSR chain in Sri Lanka in terms of revenue and number of restaurants operated as of end of March 2021.