The domestic equity benchmarks ended with modest losses on Wednesday, February 23, 2022, extending declines for the sixth session in a row. The Sensex at the Bombay Stock Exchange fell 69 points, or 0.12%, to end at 57,232, today. The Nifty at the National Stock Exchange shed 29 points, or 0.17%, to 17,063. The Sensex has declined 1.57% and the Nifty has corrected 1.67% in six straight sessions. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Thursday, February 24, 2022. List of such Stocks:

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Q3FY22 Earning

Sanofi India: The pharmaceutical company has reported a 26.5% YoY decline in the net profit at Rs 90.4 crore for the quarter ended December 31, 2021, as compared to Rs 123 crore posted in the corresponding quarter last year. Revenue from operation dropped 4.5% YoY to Rs 687.9 crore against Rs 720.3 crore posted last year. EBITDA stood at Rs 127.2 crore, down 23.8% YoY from Rs 167 crore posted last year. Margins dropped to 18.5% in Q3FY22 from 23.2% posted in Q3FY21. In the base quarter, there was an exceptional gain of Rs 7.8 crore. Besides, the company has declared a dividend of Rs 490 per equity share ( this includes a Final Dividend of Rs 181 per equity share of Rs. 10 each for the year ended 31st December 2021 and a special dividend of Rs 309 per equity share of Rs. 10 each for the year ended 31st December 2021). 

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Stocks in News

Sugar Stocks: Sugar stocks will remain in focus as Prime Minister's Office (PMO) is scheduled to meet today at 4 pm to have a discussion on Ethanol Blending. The meet will be attended by Food Secretary, Petroleum Secretary and NITI Aayog officials.

Vodafone Idea: Vodafone Group, reported by Bloomberg, will offload 2.4% stakes (6.36 crore shares) of tower firm Indus Towers. The raised funds will be invested in Vodafone Idea (through new equity shares issued by Vodafone). The company will further sell an additional 4.7% stake. After the two stake sales, Vodafone Idea will have 21% stakes in Indus Tower business and currently, the telecom holds 28.1% stakes in the company. PTI says: Vodafone may sell 5% of Indus Tower to Airtel.

Federal-Mogul: Pegasus Holdings III, LLC, has made an open offer to buy 25.02% of the fully diluted voting share capital of Federal-Mogul Goetze (India) Limited. Pegasus Holdings III, LLC will acquire up to 1,39,16,676 fully paid-up equity shares at Rs 275 per offer share aggregating to a total consideration of up to Rs 382.8 crore. Context of the Deal which triggered open offer: 

The open offer for the company came due to the merger between Pegasus Merger Co and Tenneco Inc. Tenneco holds a 100% stake in Federal-Mogul Mauritius and Federal-Mogul Germany under subsidiaries. Federal-Mogul Mauritius and Federal-Mogul Germany are the promoter companies of Federal-Mogul India. Promoter holds a 74.98% stake in Federal-Mogul India. Pegasus will hold a 74.98% stake in Federal-Mogul India after the merger of Pegasus Merger Co and Tenneco Inc.

Vedanta: Mining major Vedanta Ltd on Wednesday said its Board of Directors will consider and approve the third interim dividend on equity shares, if any, for the fiscal year 2021-22 on March 2, 2022. The record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared, has been fixed on Thursday, March 10, 2022. 

Forbes & Company Ltd.: The Board of Directors of the Company at their meeting held on February 23, 2022, have approved the termination of the Joint Venture (JV) Agreement dated December 1, 2014, with mutual consent with Sterling Investment Corporation Private Limited, G. S. Enterprises in relation to Shapoorji Pallonji Forbes Shipping Limited ("SPFSL") with effect from close of business hours on February 28, 2022. Consequently, w.e.f. March 1, 2022, SPFSL shall cease to be a subsidiary of the Company. The Company would continue to hold 25% equity and preference share capital in SPFSL. Besides, it has sold its stake in subsidiary Forbes Facility Services (FFSL) to SILA Solutions Private Limited for Rs 42 crore.

Promoter Action  

Chambal Fertilisers: Promoter bought 40,000 shares on February 23, 2022. 
Gujarat Ambuja Exports: Promoter bought 20,000 shares on February 22, 2022.
Mangalore Chemicals: Promoter bought 74,816 shares on February 23, 2022.
NCL Industries: Promoter bought 4000 shares on February 22, 2022.