Stock market news that you should not miss today

16 Feb 2022 , 07:57 AM

Here is the important stock market news to watch out for today.

• Markets to open on a muted note; support @17,000, resistance at 17,600.
• FIIs sold shares worth Rs2298.76cr (cash), bought Rs4411.60cr in index futures.
• US markets closed higher. Asian Markets opened in the green.
• Brent crude was trading 0.03% lower at $93.25 per barrel.
• Vedant Fashions: The company will make its debut on the BSE and NSE, on February 16. The final issue price has been fixed at Rs866 per share. It would be third listing in year 2022 after AGS Transact Technologies and Adani Wilmar.
• Punjab & Sind Bank: NPA account, IL & FS Tamil Nadu Power Company with outstanding dues of Rs148.86 crore has been declared as fraud. The bank reported this fraud to RBI and has already made provisions amounting to Rs59.54 crore.
• Wheels India: ICRA has downgraded its long term rating for bank lines to ‘A-‘, from ‘A’ earlier while keeping outlook stable. The rating agency also downgraded its short term rating for bank lines to ‘A2+’, from ‘A1’ earlier.
• Burger King India: The company closed its qualified institutional placement issue and finalised the issue price at Rs129.25 per share, a discount of 5% to the floor price of Rs136.05 per share.
• Torrent Power: The company completed transaction of acquisition of 100 percent stake in special purpose vehicle Visual Percept Solar Projects. The acquisition was as per the Share Purchase Agreement between Torrent Power, and Blue Daimond Properties and Balrampur Chini Mills.
• Redington India: Investor Marina IV (Singapore) Pte Ltd sold 2.14 percent equity stake in the company via open market transactions on February 11. As a result, its shareholding in the company dropped to 3.22%, from 5.36% earlier.