Stocks in news: BSE, TCS, Ola Electric, Religare Enterprises, Manappuram Finance

Markets traded with a negative bias on Friday and remained under pressure for most of the session, with the Nifty slipping sharply as selling in heavyweight technology stocks intensified. Analysts say the sharp fall in the IT pack has significantly altered the market tone, and a break below the 25,400 mark could open the door for a move toward the 25,100 gap area.

In today's trade, shares of BSE, TCS, Ola Electric, Religare Enterprises, Manappuram Finance among others will be in focus due to various news developments

BSE
BSE has received approval from capital markets regulator Sebi to launch derivative contracts on the "BSE Focused Midcap Index," expanding its index derivatives basket at a time when exchanges have moved to a single weekly expiry structure. The new index measures the performance of the top 20 mid-cap companies selected based on free-float market capitalisation.

TCS
NCDEX has entered into a long-term strategic technology partnership with Tata Consultancy Services (TCS) to power its planned foray into the equity and equity derivatives segments. "Under a 10-year engagement, TCS will deploy an enterprise-grade, scalable trading and surveillance platform designed to meet evolving market and regulatory needs," a media release said.

Ola Electric
Ola Electric narrowed its losses in the December quarter to Rs 487 crore, compared with Rs 564 crore in the same quarter of previous fiscal year. Revenue from operations fell 55% year-on-year (YoY) to Rs 470 crore. Adjusted operating EBITDA losses reduced to Rs 323 crore in the third quarter from Rs 494 crore a year ago.

HUL
Hindustan Unilever Ltd (HUL) has received listing and trading approvals from BSE and NSE for 2,34,95,91,262 equity shares of its demerged ice-cream business, clearing the way for Kwality Wall's (India) to debut on the exchanges on February 16. The listing marks the formal culmination of HUL's first major portfolio break-up in years.

Signature Global
Realty firm Signature Global plans to develop a branded luxury housing project in Gurgram with an estimated revenue of around Rs 5,000 crore, a top company official said. Signature Global Chairman Pradeep Aggarwal expressed confidence that the company will achieve the revised sales bookings target of Rs 10,300 crore for the current fiscal.

Lodha Developers
Realty firm Lodha Developers has acquired an 80% stake in Pune-based Solidrise Realty for Rs 294 crore, as part of its expansion plan. Mumbai-based Lodha Developers Ltd is one of the leading real estate companies in the country. It sells properties under Lodha brand.

Hero MotoCorp
Hero MotoCorp aims to strengthen its presence in segments such as scooters, premium bikes, and electric vehicles, where it currently remains under-represented, according to the company's CEO Harshvardhan Chitale. The country's largest two-wheeler maker also expects to expand its presence in international markets and the parts and accessories business.

Religare Enterprises
Burman family backed-Religare Enterprises Ltd (REL) has approved a plan to demerge its financial services and insurance businesses into two separately listed entities, in a move aimed at unlocking shareholder value and sharpening strategic focus.

Manappuram Finance
Gold loan financier Manappuram Finance on Saturday said it has received final approval from the Reserve Bank of India (RBI) for the proposed acquisition up to 41.66 per cent of the company's paid-up equity capital / convertible instruments by affiliates of Bain Capital-- BC Asia Investments XXV Ltd and BC Asia Investments XIV Ltd.

Ola Electric
Lossmaking Indian two-wheeler maker Ola Electric said on Friday that it seeks to lower its operating costs by as much as 50% in the coming quarters, after posting a narrower third-quarter loss as it sets its sights on turning profitable.

Shriram Finance
RBI has informed MUFG Bank that it is not required to obtain prior approval from RBI for the proposed transaction Japan's MUFG had announced its intent to acquire 20% stake in Shriram Finance for Rs 39,620 crore in December.