2022 January Month - Stock Market NEWS Magazine

This dawn of New Year 2022 expecting to bring promising news to Stock Traders & Investors. More Companies registered with SEBI trying to enter into Stock Markets in the form of IPOs & Mutual Fund AMC NFOs.

Indian Stock Markets ended positively on Friday as NIFTY 50 ended the year 2021 with hefty gains of 24.1%, the best gain in 4 years while BSE SENSEX booked at 22% Yearly gain best since 2017.

1) Amongst Sectors, IT, Capital goods, Textiles, Pharma are expected to endure relative outperformance while, BFSI, Metal, Infra and Auto are placed with favorable risk-reward setup.

2) The Reserve Bank of India (RBI) has approved the re-designation of Rajiv Anand as the Deputy Managing Director of Axis Bank.

      The RBI's Monetary Policy Committee decided to keep the key rates unchanged.

      The repo rate is at 4%. The reverse repo rate has been kept at 3.35% while the Marginal Standing Facility (MSF) rate is at 4.25%. [Repo rate is the rate at which the RBI lends money to commercial banks.]

     The RBI has proposed to increase the UPI transaction limit for investing in IPOs to Rs 5 lakh from its current limit of Rs 2 lakh.

    The RBI has imposed a monetary penalty of Rs 30 lakh on ICICI Bank for violation of rules related to ‘levy of penal charges on non-maintenance of minimum balances in savings bank accounts’.

      The RBI also imposed a penalty of Rs 1.8 crore on PNB related to the bank’s shareholding in borrower companies, as pledgee, of an amount exceeding 30% of paid-up share capital of those companies.

    The Reserve Bank of India (RBI) has appointed Yogesh Dayal, the chief general manager in-charge of the department of communication at RBI, as an additional director on the board of RBL Bank.

3) JSW group as a part of its green initiative, has come out with an electric vehicle (EV) policy offering incentives to group employees purchasing electric vehicles. The policy will come into effect from January 1, 2022 and offers incentives up to | 3 lakh for purchase of electric 4-W & 2-W.

4) Edelweiss Financial Services’ board has approved a public issue for raising up to Rs 1,000 crore through non-convertible debentures, half of which will be mopped up in the first tranche.

5) Construction major Larsen & Toubro (L&T) and ReNew Power (ReNew) have agreed to tap the emerging green hydrogen business in India. 

  

     Larsen & Toubro has signed an initial agreement with Saudi Aramco to develop manufacturing capabilities in Saudi Arabia.

       L&T Construction has secured a 'large' order from the UP government to implement rural water supply projects.

       L&T Metro Rail Hyderabad Ltd raised Rs 13,119 crore by selling bonds and commercial papers (CPs).

6) Jet Airways is reportedly in talks with Boeing for a $12 billion order for its aircraft fleet.

7) Canara Bank raised around Rs 1,500 crores via Basel-III bonds.

8) Unichem Laboratories received USFDA approval for its schizophrenia pill and it ended 13.8% up today.

9) Tata Power collaborated with Stays & Trails to set up electric vehicle charging stations at more than 30 villas and heritage bungalows across 11 cities.

    Tata Power announced it has been awarded a project by Solar Energy Corporation of India (SECI) to build a 100 MW EPC solar project, along with 120 MWh utility scale Battery Energy Storage System. The total contract value of the project is approximately ₹945 crore, and it will be completed within 18 months.

   Tata Power has inked a pact with IIT Madras to collaborate on R&D, consultancy, advocacy, training, and technology solutions.

10) Biocon Pharma, a subsidiary of the company, has received approval for Mycophenolic Acid from USFDA. The drug is used to prevent organ rejection in adult patients receiving a kidney transplant.

11) Globus Spirits Ltd has announced that it had participated in a tender floated by Oil Marketing Companies (OMCs) vide dated 12th November 2021 inviting various molasses and grain based distilleries for supplying Ethanol for the period commencing from 01st December 2021 till 30th November 2022 at their various locations across the country.

12) Bharti Airtel Ltd is in early talks to acquire a majority stake in Dish TV India Ltd, according to three people familiar with the matter, a deal that would give India’s second-largest telecom operator control of half of the country’s satellite television business. Bharti Airtel executives have had discussions with Essel Group founder Subhash Chandra for the transaction, the people said, seeking anonymity.

   Bharti Airtel has inked a deal with Juniper Networks to deliver network upgrades for the expansion of Airtel’s nationwide broadband coverage.

   Bharti Airtel has paid Rs 15,519 crore to the government towards prepayment of its entire deferred liability pertaining to the spectrum acquired in the 2014 auction.

13) India's top carmaker Maruti Suzuki announced that the company will increase prices in January 2022 due to increase in various input costs. The company said that the price hike shall vary for different models.

14) Shriram group's two-wheeler financing arm Shriram City Union Finance disbursed the highest ever loans worth Rs 1,022 crore in November. Shriram City Union Finance has disbursed the highest ever loans amounting to Rs 1,022 crore for 1.6 lakh two-wheelers in November 2021.

15) Tata Motors will be hiking the prices of its commercial vehicles from January 1, 2022.

       Tata Motors has tied up with Bandhan Bank for retail finance for its range of passenger vehicles.

16) SpiceJet has outstanding dues of Rs 185 crore to the Airports Authority of India (AAI) as of September 2021, Minister of State for Civil Aviation V K Singh mentioned.

17) Karnataka Bank: Toyota Kirloskar Motor (TKM) has partnered with Karnataka Bank to provide easy vehicle financing options for its customers in India.

18) The Board of Apollo Pipes approved the allotment of 2.62 crore equity shares as bonus shares in the ratio of 2:1.

19) Indian Energy Exchange (IEX) realized 53.8% YoY growth across all its market segments.

20) Indian Oil Corporation (IOC) has renewed a deal to buy up to 2 million tonnes of crude oil in 2022 from Russia’s Rosneft.

             Indian Oil Corporation (IOC) has acquired a 4.93% stake in Indian Gas Exchange (IGX).

            Indian Oil (IOC) will invest Rs 9,028 crore to build a new crude oil pipeline between Mundra in Gujarat and Panipat in Haryana.

21) State Bank of India (SBI) chairman Dinesh Kumar Khara mentioned that he expects loan growth of 9% year-on-year (YoY) basis in the Financial Year 2022.

22) Reliance Industries Ltd (RIL) announced the launch of a strategic joint venture with Abu Dhabi Chemicals Derivatives Company RSC Ltd (TA'ZIZ) for chemical projects worth $2 billion in Ruwais, a town located 240 km to the west of Abu Dhabi City.

23) Bank of Baroda (BoB) has signed a memorandum of understanding (MoU) with Centrum Housing Finance (CHFL) for sourcing and financing housing loan borrowers under co-lending model.

24) TVS Motor Company has tied up with Grupo Q for Nicaragua and Costa Rica markets in order to further expand its business in Central America.

25) NHPC: The Board of Directors of NHPC approved the merger/amalgamation of Lanco Teesta Hydro Power Limited, which is a wholly owned subsidiary of the Company.

26) United Breweries approached the appellate tribunal NCLAT against a Rs 751.8 crore penalty imposed on the company by the fair trade regulator CCI.

27) Star Health made its debut on the stock markets 10th December.

     It listed at Rs 845 per share on NSE - 6.11% discount over its issue price of Rs 900 per share.

       On BSE, the stock listed at Rs 848.80 per share.

28) Praj Industries Ltd. has developed a patented technology to process cane juice into conditioned BIOSYRUP that has storability of upto 12 months. This facilitates sugar mills to produce ethanol beyond sugar season thus helping increase production capacity & maximize revenue. 

29) Gland Pharma, a generic injectable focused pharmaceutical company, received a tentative approval from the United States Food and Drug Administration (US FDA) for Cangrelor for Injection, 50 mg/vial Single-Dose Vials.

30) Alembic Pharmaceuticals announced that the company has received tentative approval from the US FDA for its Abbreviated New Drug Application (ANDA) for Selexipag Tablets, 200 mcg, 400 mcg, 600 mcg, 800 mcg, 1,400 mcg, and 1,600 mcg.

31) IndusInd Bank: The RBI has given approval to Life Insurance Corporation (LIC) to increase stake in IndusInd Bank to nearly 10%.

32) HFCL closed its qualified institutional placement issue. It raised Rs 600 crore by allocating nearly 8.72 crore equity shares at issue price of Rs 68.75 apiece.

33) Infosys announced its collaboration with US-based Packable to strengthen the latter’s ability to offer its brand partners an engaging, innovative, and agile Direct to Consumer platform (D2C): "D2C-in-a-box."

   Infosys has been selected by Orion Corporation to transform its ERP and Planning platforms, enhance employee experience, and drive business value realization.

34) TVS motor company launched Apache RR 310 and 125 cc scooter TVS NTORQ in the Philippines market.

35) Tega Industries made its debut on the stock markets 13th December. It listed at Rs 760 - a 67.77% gain over its issue price of Rs 453.

36) BPCL: Bharat Petroleum has tied up with Bhabha Atomic Research Centre for an electrolyze technology for green hydrogen as it seeks to achieve net zero emissions by 2040.

37) Shriram Group: The board of Shriram Transport Finance (STFC), Shriram City Union Finance ( SCUF) and their promoter Shriram Capital ( SCL) have approved the merger of SCL and SCUF with STFC.

38) Phoenix Mills: Canada Pension Plan Investment Board and The Phoenix Mills have invested Rs 700 crore as equity capital in their joint subsidiary Island Star Mall Developers.

39) Vodafone Idea (Vi) has partnered with Hungama for music streaming service.

40) Paytm reported over two-fold rise in its gross merchandise value to about Rs 1,66,600 crore in the first two months of the third quarter of this fiscal.

41) IndiGo airlines has launched a co-branded credit card in partnership with Kotak Mahindra Bank.

42) Burger King India is planning to raise up to Rs 1,500 crore through further issuance of securities.

43) Hindalco Industries Limited signed a definitive agreement to acquire Hydro’s aluminium extrusions business in India for Rs 247 crore.

44) Union Bank of India (UBI) today approved to raise Rs 500 crore, with a greenshoe option to retain oversubscription up to Rs 1,000 crore.

45) Vedanta Ltd has acquired Nicomet, a Nickel and Cobalt producer based in Goa.

       Vedanta Ltd is targeting to raise up to Rs 1,000 crore through non-convertible debentures (NCDs), the mining major said in a regulatory filing on December 22.

46)  Adani Transmission has completed the construction of one of India's longest intra-state transmission lines of 897 circuit km.

47) Adani Enterprises has incorporated a wholly owned subsidiary named ‘Mundra Aluminium Limited’.

48) Cipla has received final approval from the USFDA for Lanreotide injection. It is indicated for the treatment of patients with Acromegaly and Gastroentero-pancreatic Neuroendocrine Tumors.

49) MapMyIndia made its debut on the stock markets 21-Dec. It listed at Rs 1565 on NSE - a premium of over 51% over its issue price of Rs 1,033. It closed the day 34.91% higher.

50) Snapdeal has filed preliminary documents for an Initial Public Offering (IPO) to raise Rs 1,250 crore.

51) Axis Bank has emerged as the top contender to acquire Citibank India’s retail assets, according to media reports.

52) The State Bank of India (SBI) has acquired a minority stake in JSW Cement Limited.

53) Tata Steel has received Safety & Health Recognition 2021 from World Steel Association.

54) Metro Brands made its debut on the stock markets 22nd December. It is listed at Rs 437 on NSE - a discount of 12.60% when compared to its issue price of Rs 500.

55) The board of Zee Entertainment has approved the merger of the company with Sony Pictures Network India.

56) Medplus Health made its debut on the stock markets 23rd December. It listed for Rs 1,040 - a 30.65% premium over its issue price of Rs 796.

57) Hero MotoCorp will increase the ex-showroom prices of its motorcycles and scooters to partially offset an increase in input costs.

58) REC has entered into an agreement with KfW Development Bank for availing ODA (official development assistance) term loan of USD 169.5 million. It will be used for part-financing of innovative solar PV technology-based power generation projects in India.

59) Data Patterns made its debut on the stock markets 24th December. It listed for Rs 856- a 46.32% premium over its issue price of Rs 585.

60) GMR Infrastructure has received approval from the National Company Law Tribunal (NCLT) for the demerger of non-airport businesses of the company.

61) SBI Cards and Payment Services company has raised Rs 650 crore by issuing bonds on a private placement basis.

62) HCL Tech’s promoters were reportedly planning to purchase 45 lakh shares of the firm in the open market.

63) HP Adhesives made its debut on the stock markets (28th December). It listed for Rs 315 - a 14.96% premium over its issue price of Rs 274.

64) HDFC Bank has tied up with India Post Payments Bank (IPPB) to offer banking services to the underserved segments in semi-urban and rural areas.

     HDFC Bank has inked a Memorandum of Understanding (MoU) with Agra Smart City to launch an app that will provide information about Agra and help users avail public services.

65) Oil India is planning to set up a plant to manufacture green hydrogen at its Jorhat oilfield in Assam.

66) IndusInd Bank has partnered with the National Payments Corporation of India (NPCI) for offering real-time cross-border remittances to India using UPI IDs.

67) Canara Bank has raised Rs 2,500 crore by issuing Basel-III compliant bonds to a total of 10 allottees.

68) SEBI has cleared a set of new rules for IPO with respect to the primary markets.

         SEBI has mandated that shareholders that own more than 20% stake in the company can only sell up to 50% of their stake on listing day. Further, the use of funds raised through the IPOs will now be monitored by rating agencies.

        SEBI will also increase the anchor lock-in period to 90 days from the current 30 days; however this will only be applicable for 50% of the allocation to such investors.

      Capital markets regulator SEBI proposed regulatory framework for algorithmic trading (algo trading) by retail investors to make such trading safe and prevent market manipulations.

69) AU Small Finance Bank has appointed Harun Rasid Khan as Additional Director of the bank.

70) NTPC has received around Rs 135 crore as interim dividend from NTPC Tamil Nadu Energy Company Limited (NTECL) in the current fiscal.

     NTPC board has approved a proposal to discontinue operation of Muzaffarpur Thermal Power Station (MTPS), Stage-I (2X110 MW) of Kanti Bijiee Utpadan Nigam (KBUNL).

71) Amara Raja Batteries is planning to invest in InoBat Auto, a European technology developer and manufacturer of batteries for e-mobility.

72) Raymond has incorporated a step-down subsidiary Ten X Realty (TXRL) to carry out real estate business for the development of land and properties at Thane, Maharashtra.

73) Kalpataru Power board will meet on 04 January 2022 to consider and approve the proposal for the raising of funds by way of issuance of Non-Convertible Debentures.

74) Varun Beverages has incorporated a new entity 'Varun Beverages RDC SAS' in the Democratic Republic of Congo.

75) Reliance Energy announced that it will acquire Faradion, a sodium ion battery technology provider.

76) ITC is planning to launch a host of plant-based meat products.

      

      ITC Ltd has commissioned its first offsite solar plant in Dindigul, Tamil Nadu, at an investment of Rs 76cr. The 14.9 MW solar plant will help reduce CO2 emissions over the course of its lifetime.

77) RBL Bank has raised Rs 2,600 crore via certificate of deposits (CDs).

78) Tech Mahindra has approved the proposal to acquire 100% equity shares in Allyis India Private Limited.

79) Power Grid approved an investment proposal for the expansion of power grid telecom into data centre business and establishing a data centre at Manesar, Haryana at an estimated cost of about Rs 322 crore.

80) The Indian Government is planning to provide incentives worth Rs 76,000 crore towards setting up over 20 semiconductor design, components manufacturing and display fabrication (fab) units over the next six years, in a bid to make India a hub for electronics. "Through various PLI (production linked incentive) schemes, the Centre has tried to broaden the scope of manufacturing and export from India while the semiconductor policy will help deepen India's manufacturing base," a senior government official told.

81) Greenlam Industries Ltd. announced prominent plans for a fast-tracked expansion of the company. The company aims to invest Rs.950 crores over a period of 2-3 years, towards setting up of third Laminate plant and foray into Plywood and Particle Board business.

82) Edelweiss Wealth Management, among the top-three private wealth managers with ₹1.81 lakh crore of assets under management, has bought back 5.28% of its shares from the partner PAG by paying ₹230 crore, thus increasing the stake to 44.16%.

83) Aditya Birla Fashion and Retail Limited (ABFRL) on Tuesday said it has entered into a long-term licensing agreement with brand development and marketing company Authentic Brands Group (ABG) that grants ABFRL exclusive rights to distribute and sell Reebok products.

84) GAIL India Ltd plans to import India’s first and the largest to date electrolyser for producing green hydrogen within a year and may look to hire another ship to ferry LNG from the US. GAIL had launched a global tender to procure a 10- megawatt electrolyser capable of producing 4.5 tons per day of hydrogen. Delivery of the electrolyser may happen in 12 to 14 months.

85) Natco Pharma through its affiliates is proposing to enter into an agreement to acquire Dash Pharmaceuticals LLC ("Dash") for US$ 18 million subject to satisfactory completion of due diligence, execution of definitive agreements and compliance with statutory requirements.

   Natco Pharma has received approval for Covid-19 drug Molnupiravir Capsules 200 mg for Indian market, which will be sold under brand name MOLNUNAT. Molnupiravir is the first Covid drug authorized by Drugs Controller General {India) (DCGI) for the treatment of Covid 19 infection.

86) Sandhar Technologies Limited has inaugurated its manufacturing facility at Nalagarh, Himachal Pradesh. The unit will be manufacturing sheet metal components/parts such as frame parts, complete frames, handle bars, swing arms and other sheet metal parts for two wheelers.

87) Lupin announced that it has received the Establishment Inspection Report (EIR) from US FDA for its Goa manufacturing facility, after the inspection of the facility in September 2021.

88) Wipro will acquire Austin, Texas-headquartered Edgile for $230 million, a move that will strengthen the IT major’s play in the cybersecurity services space.

89) Reliance Jio Infocomm (Jio) added 1.7 million wireless subscribers in October, pulling up its gross user base to 426.59 million, reflecting the shift of the low end subscribers from the rivals Bharti Airtel and Vodafone Idea (Vi) to Jio.

90) RaiITel Corporation of India has received work order from Defence R & D Organisation for Expansion and Enhancement of CIAG Network Capacity at a total cost of Rs. 68.31 Crore (Inclusive of GST). The entire work is to be completed in a period of 7 months.

91) GlaxoSmithKline Pharmaceuticals has completed the transaction relating to sale of the company's business undertaking i.e., manufacturing facility together with the land, plant and machinery, assets, software and equipment located at Vemgal, Karnataka to Hetero Labs Limited for Rs 180cr.

92) Manappuram Finance said it plans to raise up to Rs 500 crore by issuing bonds.

93) IndiaMART InterMESH Limited has indirectly through its wholly owned subsidiary, Tradezeal Online Private Limited, agreed to acquire 4,784 Compulsorily Convertible Series A Preference Shares and 100 Equity Shares aggregating to 26.01% of Edgewise Technologies Private Limited on fully diluted basis.

94) ABB India said its board has decided to incorporate a wholly-owned subsidiary to which it will sell its turbocharger business for Rs 310 crore. 

95) Deepak Nitrite's board has approved raising funds of up to ₹2,000 crore through Qualified Institutional Placement (QIP), the company informed the stock exchanges.

96) Sigachi Industries Ltd has received a Letter of Intent from Grasim Industries Limited (Aditya Birla Group), for the operations and management of the three Chlorine Product Plants - SBP-48 TPD, CPW-30TPD & MCAA-20TPD. The agreement shall be for an amount of 20 crores and will be valid for a period of 3 years.

97) Sun Pharmaceutical Industries announced that one of its wholly owned subsidiaries has received Emergency Use Authorization (EUA) from the DCGI to manufacture and market a generic version of MSD (a trade name of Merck & Co., Inc, Kenilworth, NJ, USA) and Ridgeback’s molnupiravir under the brand name Molxvir in India.

98) Aurobindo Pharma announced the receipt of the DCGI’s (Drugs Controller General of India) permission to manufacture and distribute its in-licensed generic version of MSD (a trade name of Merck & Co., Inc, Kenilworth, NJ, USA) and Ridgeback’s Molnupiravir, to be marketed as Molnaflu.

99) Ajanta Pharma said that its board has approved a share buyback plan of up to Rs 286crore, wherein the company will buy back shares at a maximum price of Rs 2,550 per share.

100) Bajaj Auto said that it will set up an electric vehicle manufacturing facility at Akurdi in Pune with an investment of Rs 300 crore.

101) Hester Biosciences will be able to commence supplies of drug substance for Bharat Biotech’s Covid-19 vaccine Covaxin by April 2022. It is investing Rs 100 crore on the project, which will enable it to produce 5-7 million doses of the Covaxin drug substance every month.

102) PVR Ltd has raised ticket prices in Telangana by 50% in line with the latest directions issued by the state government. Currently, movie tickets for mainstream seats attract a price of Rs 150, which will be raised Rs 250 + GST, while the recliner seats will be charged Rs 300 + GST as against Rs 250 currently. As on date PVR operates 62 screens across 11 properties in the state of Telangana

103) IDFC First Bank in its board meeting today has considered a proposal for merger of ‘IDFC Ltd’ and ‘IDFC Financial Holding Company (Promoter Group) with it, the company informed the exchanges.

104) Dabur India has forayed in the health food drink business with the launch of Vita, in a bid to widen its Ayurveda-backed health products portfolio. It has been launched in chocolate flavour and can be added to milk or water. It is available in 7 SKUs (stock-keeping units) starting at 15gm pouch at Rs 10.

105) Sterling & Wilson's board of directors has approved the allotment of 2.93 crore equity shares to Reliance New Energy Solar Limited (RNESL) at a price of Rs 375 apiece, aggregating to Rs 1,099 crore.

106) Fortis Healthcare Ltd’s step down subsidiary company Birdie and Birdie Realtors Private Limited, sold its land and building situated at 8, Palam Marg, New Delhi, to KLJ Plasticizers Limited (non-related party) for a total consideration of Rs 111 Crores by executing a Sale Deed dated December 30, 2021.

107) Visaka Industries Ltd has scheduled to commence commercial production at Company's new unit (V-Boards Division - IV) situated at Udumalpet Village, Tirpur Dist, Tamilnadu, with an installed capacity of 50,000 MT per annum effective from Januay 1, 2022.

108) The Competition Commission of India (CCI) approved the acquisition of 96.42 per cent equity shareholding in Jindal Power Limited by Worldone Private Limited. Worldone Private Limited (Worldone) is an investment holding company which has investments in various listed and unlisted companies.

109) State-run Power Grid Corporation of India Ltd (PGCIL) has approved Rs 322 crore investment proposal for expansion of POWERGRID telecom into data centre business. "

110) Brent Crude prices closed higher at US$ 78.8/barrel as compared to previous week’s closing price of US$ 76.15.

111) Gold prices ended higher at $ 1819/ounce as compared to previous week's closing price of $ 1808/ounce

112) Bond yields ended higher at 6.48% as compared to previous week’s closing price of 6.45%.