Indices at previous closing
Nifty50: 17,221 ▼−103 (-0.6%)
Sensex: 57,788 ▼−329 (-0.5%)
Nifty Bank: 36,789 ▼−104 (-0.2%)
For more updates on F&O, click here.
TVS Motor and BMW tie-up for EVs
The two-wheeler manufacturer has said that it is extending its long-term partnership with BMW Motorrad for developing new platforms and future technologies including electric vehicles (EVs).
The company has been focusing on making inroads in the EV segment and plans to invest ₹1,200 crore in future technologies and EVs. Meanwhile, shares of the company rose 7% intraday but later pared some of their gains and ended 1.4% higher.
Burger King to raise capital
The fast food chain has said that its board has given the approval for raising ₹1,500 crore through issuance of securities. While the company didn’t mention how the funds will be utilised, the management last week said that it plans to continue on its expansion spree.
It said that it aims to reach the 700-restaurant mark by 2026. Last month, it had also announced that it has made a binding offer to acquire BK Indonesia, which runs the Burger King outlets in Indonesia, from its existing shareholders. Meanwhile, shares of Burger King were down 0.5% yesterday.
Genus Power rises on new orders
Shares of the power infrastructure company rose 5% intraday after the company said that it had bagged new orders worth ₹325 crore. These orders will be executed over the next 12 months.
With these orders, the company’s order book has crossed 1,000 crore, which is around 1.6 times its FY21 revenue. The management said that these orders signal a strong start of order inflows for the industry and will help it to diversify its order book. Meanwhile, shares of the company lost some of its initial gains and ended 2.8% higher.
Sectoral indices (December 15)
| Top gainers | Top losers |
| Nifty Auto ▲ 0.5% | Nifty Realty ▼ 1.8% |
| NA | Nifty PSU Bank ▼ 1.3% |
Global markets (at 8:00 am today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.5% |
| Nikkei 225 (Japan) | ▲ 1.5% |
| Hang Seng (Hong Kong) | ▼ 0.6% |
| SSE Composite (China) | ▲ 0.3% |
| Dow Jones (US) (December 15) | ▲ 1.0% |
| NYSE (US) (December 15) | ▲ 0.9% |
| Nasdaq (US) (December 15) | ▲ 2.1% |
| S&P 500 (US) (December 15) | ▲ 1.6% |
Fact of the day
Almost half of China, reportedly, is now playing video games with the industry garnering 278.7 billion yuan (₹3 lakh crore) in revenue in 2020.
Source: South China Morning Post
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