Indices at previous closing
Nifty50: 17,206 ▼69 (-0.4%)
Sensex: 57,683 ▼149 (-0.2%)
Nifty Bank: 37,685 ▲86 (+0.2%)
For more updates on F&O, click here.
Indiabulls Housing Finance office raided
The non-banking finance company’s office in Mumbai was reportedly raided by Enforcement Directorate (ED) officials. This comes after the ED filed an FIR against the company and its promoters in April 2021 for diverting money for investing in its own shares.
The Delhi High Court on Monday had directed the ED to not take any coercive action against the company. Amid these developments, shares of the company dropped by 11% yesterday.
Crompton Greaves to make acquisition
CG Consumer is reportedly planning to acquire a 50% stake in Butterfly Gandhimathi, a home-appliance manufacturer, for ₹1,450 crore. According to the reports, the deal is expected to be announced soon.
Amid these reports, shares of Butterfly Gandhimathi rose around 8%, while those of CG Consumer were up 0.4%.
PharmEasy receives SEBI nod
API Holdings, the parent company of omni-channel pharmacy PharmEasy, has received an approval from the market regulator SEBI to launch its public issue. The company plans to raise ₹6,250 crore through the IPO route.
It will use the funds to repay borrowing and expand its business directly as well as through acquisitions. It is important to note here that the company recently acquired the diagnostics company Thyrocare Technologies.
Sectoral indices (February 21)
| Top gainers | Top losers |
| Nifty Bank
▲ 0.2% |
Nifty Media
▼ 2.7% |
| Nifty Financial Services
▲ 0.0% |
Nifty Metal
▼ 2.0% |
Global markets (at 8:00 am today)
| Indices | Today's movement |
| SGX Nifty | ▼ 1.0% |
| Nikkei 225 (Japan) | ▼ 2.0% |
| Hang Seng (Hong Kong) | ▼ 2.2% |
| SSE Composite (China) | ▼ 1.3% |
| Dow Jones (US) (February 18) | ▼ 0.6% |
| NYSE (US) (February 18) | ▼ 0.6% |
| Nasdaq (US) (February 18) | ▼ 1.2% |
| S&P 500 (US) (February 18) | ▼ 0.7% |
Fact of the day
In 2020, Australia, Chile and China together accounted for 75% of the world's production of lithium, which is a key component in batteries.
Source: BP
We'd love your thoughts on this morning update.
If you haven't already, open your Upstox account to get IPO-ready today! Click here to sign up.
To catch our latest educational videos, join our Telegram channel here.
Disclosures and Disclaimer
Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.
Download the Upstox App Today