Stock Market Today Latest Stocks  Related  News Date - 22 March 2022

Reliance Industries: Subsidiary Reliance Jio is raising around $750 million (about ₹5,700 crore) through an offshore syndicated loan to primarily fund future capex needs.

Bank of America, Credit Agricole, HSBC, State Bank of India and three Japanese banks -- MUFG, Mizuho and SMBC – are slated to syndicate the five-year offshore loan likely to be priced after adding 120-130 basis points over the Secured Overnight Financing Rate. 

HUL: Hindustan Unilever Ltd is in talks with Mahashian Di Hatti Pvt. Ltd (MDH) to buy a majority stake in the maker of MDH Spices.  

MDH could be valued at ₹10,000 crore- ₹15,000 crore, given its pan-India appeal. While the branded spices market size is large and estimated by Avendus to double to ₹50,000 crore by 2025 

Oil marketing companies (OMCs): State-owned fuel retailers raised petrol and diesel pump prices by 0.8 rupees per litre on Tuesday, the first increase since November.  

India's three state-run fuel retailers - Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp  tend to move their prices together 

Sun Pharmaceuticals: Has entered into a share purchase agreement with Japan's Daiichi Sankyo Company to acquire the latter's 11.28% stake in Zenotech Laboratories. Sun Pharma said it will pay ₹5.32 crore for the stake. 

Zomato Ltd: As quick services catch up with food aggregator platforms, Ant Group-backed Zomato Ltd plans to deliver food in 10-minutes, the company’s founder Deepinder Goyal said in a blogpost on Monday.  

The announcement comes days after it was reported that Zomato is in talks to merge with instant delivery service Blinkit, formerly Grofers, in an all-stock deal valuing Blinkit between $700 million and $800 million. 

Ruchi Soya: Will use the proceeds from its ₹4,300-crore follow-on public offer (FPO) to retire debt of ₹3,300 crore. 

The company has set a price band of ₹615-650 for its FPO, which will open for subscription on 24 March and close on 28 March. 

Vedanta: Has set up multiple teams to scout for suitable locations across five states to set up its semiconductor plant. Last month, Vedanta said it planned to invest $8.4 billion in a chip manufacturing unit 

In partnership with Hon Hai Technology Group (Foxconn). Besides Telangana, the company is also surveying sites in Tamil Nadu, Maharashtra, Gujarat, and Himachal Pradesh. 

IDBI Bank: The government is holding roadshows for IDBI Bank privatisation and will come out with EoI after assessing investor interest. The Cabinet Committee on Economic Affairs had in May last year given an in-principle approval 

for strategic disinvestment and transfer of management control in IDBI Bank. The government and LIC together own more than 94% equity in the lender. The exact quantum of stake dilution is yet to be decided. 

Airline stocks: Airfares have soared following last week’s record hike in jet fuel prices, upsetting summer travel plans for those making last-minute bookings. 

Average fares on popular routes like Delhi-Mumbai, Hyderabad-Delhi and Chennai-Delhi are up 50-60% for bookings made within a fortnight before travel compared to fares a year ago.