NTPC commences new operations

The Markets Today in a nutshell

• Domestic stock market ended on a negative note.
• Global shares declined as investors remain wary of persistently high inflation, monetary policy tightening from central banks and a potentially prolonged period of sluggish economic growth. PSU banks, realty and metal shares bucked the trend while private banks, FMCG and financial shares declined.

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News you could use

? Reliance Industries (RIL) rose 0.22% while Lotus Chocolate Company hit an upper circuit of 5%
Reliance Consumer Products (RCPL), the FMCG arm and a wholly owned subsidiary of Reliance Retail Ventures (RRVL) will acquire 51% controlling stake in Lotus Chocolate Company, for Rs 74 crore, and make an open offer to acquire upto 26%. RRVL is a subsidiary of RIL.

? NTPC commences new operations 
The state-run power major said that it declared commercial operation of first part capacity of 10 megawatt (MW) out of 23 MW Solapur Solar PV project at Maharashtra with effect from 00:00 hrs of 30th December 2022.

? SBI Cards and Payment Services added 1.24% and Punjab & Sind rallied 4.47% 
The NBFC announced that it has partnered with Punjab & Sind Bank to launch co-brand credit cards for the banks customers. The company said that the collaboration also marks the introduction of credit cards as a new product segment under the banks portfolio. Both the partners have rolled out three card variants – PSB SBI Card ELITE, PSB SBI Card PRIME, and PSB SimplySAVE SBI Card, it added.

News from the IPO world?

• Sah Polymers: retail category fully subscribed on Day 1
• ‘Powerless’ debut: Elin Electronics dips 8 percent closes at Rs. 227.65 on listing day
• IPO fundraising halves Rs. 59,412 in 2022 despite LICs mega offer 

Numbers? that matter