Indices at previous closing
Nifty50: 16,663▼ 208 (-1.2%)
Sensex: 55,776 ▼ 709 (-1.2%)
Nifty Bank: 35,022 ▼ 289 (-0.8%)
For more updates on F&O, click here.
Tata Motors plans big EV push
The automaker is planning to pump ₹15,000 crore into its electric vehicle segment in the next five years, according to a company official quoted in the news reports. The company is currently working on 10 new offerings in the EV segment, with different styling, pricing and driving ranges.
The official also reportedly said that there is a need to speed up the development of the EV ecosystem with charging facilities. It’s important to note that Tata Motors had earlier raised $1 billion for its EV segment. Meanwhile, shares of the auto manufacturer were flat yesterday.
Zomato-Blinkit deal on the cards
The recently listed online food delivery player is currently in talks to acquire Blinkit (formerly known as Grofers), according to reports. This comes after Zomato picked up 10% in the delivery platform for $100 million.
For the deal, Blinkit is reportedly expected to be valued at around $800 million, which is lower than its earlier valuation of $1 billion (₹7,643 crore). Meanwhile, shares of Zomato continue to be under pressure, and fell 3% yesterday.
Logistic players face global challenges
The management of Gujarat Pipavav Port has reportedly said that the recent lockdown in China could disrupt supply chains. This could worsen the already tight supply situation in the container space, according to the management.
Besides this, the Russia-Ukraine conflict has also created fresh supply problems. According to reports, the management also pointed out that it had faced congestion issues in Europe and the US as well as a shortage of drivers. Meanwhile, shares of the company were down 2% today.
Sectoral indices (March 14)
| Top gainers | Top losers |
| Nifty Private Bank ▲ 2.2% | NA |
| Nifty Fin Service ▲ 2.1% | NA |
Global markets (at 8:00 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 1.7% |
| Nikkei 225 (Japan) | ▲ 0.5% |
| Hang Seng (Hong Kong) | ▲ 2.3% |
| SSE Composite (China) | ▲ 1.1% |
| Dow Jones (US) (March 16) | ▲ 1.8% |
| NYSE (US) (March 16) | ▲ 0.4% |
| Nasdaq (US) (March 16) | ▲ 2.9% |
| S&P 500 (US) (March 16) | ▲ 2.1% |
Fact of the day
Acquired in 2014 for $12 billion, Motorola is Google's largest acquisition.
Source: CB Insights
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