Stock market news that you should not miss today

24 Feb 2022 , 08:00 AM

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

• Markets to open on a negative note; support @16,800, resistance at 17,400.
• FIIs sold shares worth Rs3417.16cr (cash), bought Rs3024.37cr in index futures.
• US markets closed lower. Asian Markets opened in the red.
• Brent crude was trading 1.22% higher at $98.02 per barrel.
• Vodafone announced the launch of a block deal earlier on February 23 to sell a 2.4% stake in Indus Towers, India’s largest telecom tower firm.
• Vedanta Ltd said its board of directors will consider on March 2 a third interim dividend for the fiscal year 2021-22.
• The Indian government on February 23 announced that it received about Rs 1,939 crore from IOCL and Rs 67 crore and CONCOR as dividend tranches, DIPAM Secretary Tuhin Kanta Pandey said.
• India can emerge as a green energy export hub and superpower, driven by the entrepreneurial spirit, government policies and availability of financing options, Reliance Industries Chairman Mukesh Ambani said on February 23.
• Maruti Suzuki India (MSI) expects its sales momentum to continue with gradual improvement in the semiconductor supplies and demand situation remaining robust in the domestic market, a top company official said.
• Shapoorji Pallonji: The company has approved termination of joint venture agreement with Sterling Investment Corporation G. S. Enterprises in relation to Shapoorji Pallonji Forbes Shipping effective from close of business hours on February 28, 2022. The company will sell entire shareholding of SPFH to SILA Solutions for a consideration of Rs 42 crore.
• Info Edge: The company has received NCLT approval for amalgamation of wholly owned subsidiary company High Orbit Careers into and with Info Edge.
• PowerGrid: The company will transfer 26% residual equity shareholding in Power Grid Vizag Transmission and relinquish its right on additional revenue accruing to PowerGrid Parli Transmission PowerGrid Warora Transmission and PowerGrid Jabalpur Transmission under change in law to PGInvIT against upfront consideration.
• SKF: CFO Anurag Bhagania has resigned.
• Federal-Mogul Goetze: Tenneco Inc, company’s holding company, has entered a merger agreement with Pegasus Merger, a wholly owned subsidiary of Pegasus Holdings.