Infosys: Bengaluru based IT firm on Tuesday said it has completed the sale of its stake in Denmark-based startup UNSILO for $8,00,000 (approximately ₹5.7 crore). Infosys Ltd had invested about ₹14.5 crore in UNSILO from its ₹50 crore innovation fund.

Telecom companies: Shares of telecom companies could be in focus on Wednesday over the growing concerns of adjusted gross revenues (AGR) payout. BSE Telecom fell 4.1% in Tuesday’s trade with shares of Vodafone Idea closing 7.6% lower at ₹5.4 apiece.

Tata Coffee: Board of Directors of the Tata Coffee Ltd have approved the sale of upto to 1.6 lakh shares held by the company in Tata Chemicals, through the secondary market. Also, company’s profit for the third quarter ending 31 December, nearly doubled to ₹24.9 crore.

IT companies: US Supreme Court on Tuesday approved the new green card rules. Under the new policy, immigration officials can deny green cards to legal immigrants over their use of public benefits.

Mahindra & Mahindra Financial Services: The company reported a 16% rise in its consolidated net profit to ₹475 crore for the third quarter ended 31 December.

Allcargo Logistics: The multimodal logistics firm has increased its stake in express logistics firm Gati Ltd to 20.8% by acquiring an additional 7.5% stake. Allcargo Logistics Ltd has bought an additional 91 lakh shares in Gati through two different transactions, it said in a BSE filing.

KEI Industries: Company’s qualified institutions placement committee in its meeting held on Tuesday, approved the issue and allotment of 10,000,000 equity shares to eligible qualified institutional buyers at an issue price of ₹500 per equity share, aggregating to ₹500 crore.

IIFL Finance: Moody's Investors Service and Fitch Ratings have given a stable outlook to the credit ratings of IIFL Finance Ltd. While Moody's assigned a first-time Ba3 corporate family rating, Fitch assigned long-term issuer default rating (IDR) of 'BB-' to IIFL with a stable outlook.

Chemical companies: Shares of chemical companies may be in focus as government increases its efforts targeted at containing Wuhan virus, which has claimed over 100 lives in China. Concerns about the impact of the novel coronavirus on the world economy had sent stocks, oil and currencies tumbling.

Earnings: Godrej Consumer Products, IDFC First Bank, Jubilant FoodWorks, Tata Power, Birla Corporation will announce their third quarter earnings today.


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