2022-02-15 06:27:23
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BSC Exclusive Morning Market News & Update
Reliance Industries: Jio Platforms will invest $200 million in Glance to accelerate Glance's launch in key international markets outside of Asia such as the U.S., Brazil, Mexico and Russia.
Vedanta: The company has signed an MoU with Hon Hai Technology Group (Foxconn) to form a joint venture company that will manufacture semiconductors in India. Vedanta will hold the majority of equity in the JV.
Cipla: Promoters to sell up to 2.5% stake in block deals, according to terms of the deal obtained by Bloomberg. The company’s shares are offered at a price range of Rs 904.8 to Rs 916.7 each in a secondary placement. 16.14 million shares are being offered by the sellers, with option to upsize to 4.03 million shares.
Godrej Consumer Products: The company divested its entire stake in BBLUNT for Rs 84.5 crore. Honasa Consumer, the parent company of Mamaearth, has acquired BBLUNT from the company. The transaction is expected to be complete by March 14.
One 97 Communications: Merchant payments processed on Paytm platform in January jumped 105% from a year earlier to Rs 83,481 crore. Average monthly transacting users jumped 40% YoY to 68.9 million. Number of loans disbursed through Paytm jumped to 1.9
million from 0.4 million YoY. Value of loans disbursed through Paytm was Rs 921 crore in January compared with Rs 212 crore last year.
SREI Infrastructure Finance: Kolkata NCLT has approved consolidated insolvency proceeding for SREI Group NBFCs. SREI Infrastructure Finance and SREI Equipment Finance will face consolidated insolvency proceeding, under the same committee of creditors. Bidders will be required to bid for a consolidated balance sheet.
Pennar Industries: The company bagged orders worth Rs 647 crore across its various business verticals between Dec 2021-Jan 2022.
Earnings: Crisil
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