FINESSE

India has received proposals worth $20.5 billion from five companies to manufacture semiconductor fabs and display fabs locally. Companies including Vedanta in a joint venture with Foxconn, Singapore-based IGSS Ventures Pte, and ISMC have proposed $13.6 billion investments for manufacturing the chips, which are used in a wide array of products ranging from 5G devices to electric cars. The three companies have sought the support of $5.6 billion from the federal government under its incentive plan.

Mahindra & Mahindra Financial Services Ltd posted a consolidated net profit of Rs 992 crore in the third quarter ended December 2021 (Q3Fy22) as against a loss of Rs 223 crore in the same quarter of Fy21.

Union Bank of India is looking to raise up to Rs 1,500 crore in capital through tier-I bonds and another Rs 1,100 crore via Indian Renewable Energy Development Agency (IREDA) via medium-term bonds in the coming week.

Shares of DCB Bank on 9th February 2022, dipped nearly 2 percent after the company reported a 22 percent decline in its net profit for the quarter ended in December 2021.

Muthoot Finance on 8th February 2022, reported a rise of 4 percent in its consolidated net profit at Rs 1,043.60 crore in the quarter ended December 2021.

Vodafone Ideas board on January 11, 2022, informes the department of telecommunication (DoT)that it will opt for converting the interest on adjusted gross revenue (AGR) and spectrum dues into government equity. Once the plan goes through a period of four years, the government will become the single largest shareholder in the company with a stake of 35.8%.

The State Bank of India's recent fundraising of $300 million through the issuance of Formosa Bonds is a testimony of the confidence reposed by the overseas investors in the country's growth story.

Oil prices extended gains on 5 January 2021, rising towards $81 a barrel after Opec+ producers stuck to an agreed output target rise for February and investors assessed the impact of a spike in Covid-19 cases caused by the Omicron variant.

Tata Consultancy Services (TCS) has become the second most valued brand in the Information Technology (IT) services sector globally, while Accenture retains the title of the world’s most valuable and strongest IT services brand, according to Brand Finance.

Shares of LIC Housing Finance (LICHFL) on January 28th, 2022 zoomed nearly 13 percent after the firm reported a 6 percent increase in profit after tax for the quarter ended December 2021. The stock jumped 12.63 percent to Rs 389 on the BSE. On the NSE, it rallied 12.59 percent to Rs 389.