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CORPORATE AND ECONOMY NEWS

* Zomato Ltd: The online food delivery service announced that co-founder Mohit Gupta has resigned from his position. Gupta joined the company four-and-a-half year back, was elevated to co-founder in 2020 from the position of CEO of its food delivery business.

* Jet Airways: The Jalan-Kalrock Consortium reiterated its commitment to restart the airline. CEO Sanjiv Kapor said letters of intent for aircraft, engines, IT systems, ground handling services, catering, call centre, and all other services required to run an airline are in place.

* Engineers India: The company secured an order by Chennai Petroleum Corporation Ltd. for overall project management and EPCM services for OHCU revamp, CDWU and related off-site facilities for group-II LOBS project at Manali Refinery.

* PB Fintech: The company made an investment of $2 million and acquired 26.72% shares of YKNP Marketing Management, a limited liability company through PB Fintech FZ-LLC, a wholly owned subsidiary.

* Maruti Suzuki: The company launched Alto K10 with S-CNG technology at Rs 5.94 lakh. ? Tata Motors: The BSE has decided to add Tata Motors in the S&P BSE Sensex index, in place of Dr Reddy's Laboratories.

* 3i Infotech Ltd: The IT company has bagged order from Hindustan Petroleum Corporation for managing and supporting IT infrastructure at HPCL offices, refinery including data centers across pan-India for Rs 51 crore spread across three years.

* Aarti Industries: The largest consumer of Nitric Acid in India and Deepak Fertilisers, the largest producer of Nitric Acid in South-East Asia, have signed a 20-year binding term sheet for the offtake and supply of Nitric Acid.

* Steel stocks: The government revised exports duties on steel products on Saturday. The export duty on steel products was withdrawn, whereas iron ore lumps and fines less than 58 percent FE will attract zero duty and greater than 58 will attract 30 percent duty.

* ONGC: India's largest oil and gas producer will this year reverse years of decline in production and gradually raise output thereafter as it invests billions of dollars to produce from newer discoveries, company's management told investors in a call.

* NMDC: The state run iron ore minor will be spending nearly Rs 900 crore in the next two to three years to ramp up iron ore production from seven million tonnes per annum (MTPA) to 10 million tonnes, from its Kumaraswamy mines in Karnataka.

* Bharat Electronics: The navratna defence PSU has signed a Joint Development Agreement with the Indian Institute of Technology Madras for co-operation in the field of Quantum Science and Technology. It aims at leveraging the complementary strengths and capabilities of BEL and IITM in the area of Quantum Science Technology development.

* Moldtek Packaging: The plastic packaging player said it is establishing a plant at Cheyyar in Tamil Nadu and another one at Panipat, Haryana to cater to Aditya Birla Group's requirements as well as strategically growing market demand of Food & FMCG products. A sum of Rs 30 crore will be invested in each plant.

* KPI Green Energy: The company has received commissioning certificate from Gujarat Energy Development Agency (GEDA) for capacity of 5.40 MWdc solar power plant under captive power producer Anupam Rasayan India.

* Sheela Foam Ltd: The company has approved the amalgamation of International Comfort Technologies Private Ltd with the company.

* Archean Chemical Industries and Five Star Business Finance will make a debut on the bourses today.

GLOBAL MARKETS

Global Market Update

Wall Street's benchmark S&P 500 index ended higher on Friday in a choppy trading session, as gains in defensive shares overshadowed energy declines, and investors shrugged off hawkish comments from Federal Reserve officials about interest rate hikes. The Dow Jones Industrial Average rose 199.37 points, or 0.59 percent, to 33,745.69, the S&P 500 gained 18.78 points, or 0.48 percent, to 3,965.34 and the Nasdaq Composite added 1.11 points, or 0.01 percent, to 11,146.06.

Crude Oil

Oil prices hovered near two-month lows on Monday as supply fears receded while concerns over China's fuel demand and rising interest rates weighed on prices. Brent crude futures for January had slipped 28 cents, or 0.3%, to $87.34 a barrel by 0103 GMT after settling at their lowest since Sept. 27. U.S. West Texas Intermediate (WTI) crude futures for December were at $80 a barrel, down 8 cents, ahead of the contract's expiry later on Monday. The more active January contract fell 21 cents to $79.90 a barrel.

SGX Nifty:

Trends in the SGX Nifty indicate a negative opening for the broader index in India with a loss of 47 points. The Nifty futures were trading around 18,300 levels on the Singaporean exchange.

Nifty Outlook: Nifty opened gap up on Friday at 18383, made a high of 18395, made a low of 18210, and closed on a negative note at 18308 levels. For the day, support for the Nifty exists at 18200 and 18000 levels, whereas resistance for the Nifty stands at 18400 and 18500 levels.

Bank Nifty Outlook: Bank Nifty opened gap up on Friday at 42546 made a high of 42591, made a low of 42224, and closed on a negative note at 42437 levels. For the day, support for Bank Nifty exists at 42000 and 41800 levels, whereas resistance for Bank Nifty stands at 42600 and 43000 levels.

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