Tech Mahindra, Vedant Fashions, IDBI Bank and other hot stocks on February 16

Feb 16, 2022

By: Rounak Jain

Tech Mahindra

Acquired an 80 percent stake in Australian artificial intelligence company Geomatic.ai for A$6 million.

Credit: Tech-Mahindra

Vedant Fashions

The company’s shares will debut on the stock exchanges today after receiving a 2.57 times subscription.

Credit: Vedant-Fashions

IDBI Bank

Media reports suggest that the government will begin its stake sale process next week.

Credit: BCCL

Reliance Industries

InMobi’s Roposo has entered into an agreement with Reliance Retail to bring an influencer-led e-commerce experience.

Credit: Reliance-Industries

Burger King India

Closed its qualified institutional placement at ₹129.25, which is at a discount of 5 percent to the floor price of ₹136.05.

Credit: Unsplash

Aditya Birla Fashion

Media reports suggest that the company could invest in and build up to 30 internet-first brands in the next 3 to 5 years.

Credit: Aditya-Birla-Fashion

Cipla

Two of its promoters offloaded shares worth ₹1,836 crore on February 15, representing 2.5 percent stake in the company.

Credit: Cipla

Punjab & Sind Bank

Declared the non-performing asset account of IL & FS Tamil Nadu Power Company worth ₹149 crore as fraud.

Credit: Punjab-Sind-Bank

Torrent Power

Completed the 100 percent acquisition of a special purpose vehicle, Visual Percept Solar Projects, from Blue Diamond Properties and Balrampur Chini.

Credit: Torrent-Power

Budgeting for the fifth C