Indian conglomerate Reliance Industries said on Thursday it would invest 16.7 billion rupees ($220.70 million) to create a joint venture (JV) with U.S.-listed Sanmina Corp for making electronic products in the Asian country.

The JV aims to make hardware for 5G communications, cloud infrastructure, healthcare systems, and defense and aerospace, Reliance said in a regulatory filing.

Shares of Vedanta hit an over 11-year high of Rs 395.25, up 4 per cent on the BSE in Wednesday's weak market, on rising commodity prices. The stock was trading at its highest level since May 2010. In comparison, the S&P BSE Sensex was down 1.3 per cent at 55,515 points at 10:22 am.

In the past one week, Vedanta has outperformed the market by gaining 12 per cent on higher commodity prices including crude oil and metals as tensions between Russia and Ukraine have flared up and are creating havoc in most of the asset classes. The benchmark index was down 3 per cent during the same period.

Bajaj Auto on Wednesday reported a 16 per cent drop in its total sales to 3,16,020 units in February.

The company had sold 3,75,017 units in February 2021.

Domestic sales last month stood at 1,12,747 units as against 1,64,811 units, down 32 per cent, Bajaj Auto said in a regulatory filing.

India logged 7,554 new coronavirus infections, taking the total tally of COVID-19 cases to 4,29,38,599, while the active cases dipped to 85,680, according to the Union Health Ministry data updated on Wednesday.

The death toll climbed to 5,14,246 with 223 fresh fatalities, the data updated at 8 am stated.

Ten gram of 24-carat gold is selling at Rs 50,950 on Wednesday, down Rs 330 since the last trade as demand dipped for the safe-haven bullion.

Ten gram of 22 carat gold is selling at Rs 46,700, down Rs 300 from Tuesday according to the Goodreturns website. One kg of silver is selling at Rs 65,000, down Rs 200 from the last trade.

Shares of Quint Digital Media were locked at 20 per cent upper circuit at Rs 483.40 on the BSE in Wednesday's trade after the company announced that Adani Group will acquire a minority stake in Quintillion Business Media Private Limited (QBM), an indirect subsidiary of Quint Digital.

"The proposed transaction with the Adani Group is only for QBM which is a digital business news platform and not in relation to other digital media/ media tech properties owned by Quint Digital viz. The Quint, Quintype Technologies, thenewsminute and Youthkiawaaz," said Quint Digital in a stock exchange filing without quantifying the stake Adani was taking.

Hindustan Unilever (HUL) hiked prices across its portfolio of products by 3-13 per cent in multiple tranches in February, with the sharpest increase of 13 per cent seen in the 100 gm Lux soap pack, the price of which increased to Rs 35 from Rs 31 earlier.

The price of the 125 gms soap pack of Lifebuoy was hiked from Rs 31 to Rs 33, a rise of 6.5 per cent. In January, the company had hiked the price of the same stock-keeping unit from Rs 29 to Rs 31.

The groundwork for making L&T Finance Holding (LTFH) a retail credit-driven entity had begun before Larsen & Toubro (L&T), its parent, said its subsidiary would get out of wholesale and real estate funding.

Soon after declaring results for the third quarter of FY22, it articulated a roadmap to grow the share of retail loans from 50 per cent now to 80 per cent by the end of March 2026.

The Canada Pension Plan Investment Board (CPPIB) will invest Rs 2,650 crore in a joint venture with Bengaluru-based realty firm RMZ Corp to develop and acquire commercial projects across India.

RMZ Corp and CPPIB announced that they have entered into their second joint venture to develop and hold commercial office space in key cities across India.

Reliance Retail Ventures (RRVL), a subsidiary of Reliance Industries and the holding company of all retail companies within the group, has invested in Abraham & Thakore Exports for a majority stake.

RRVL seeks to leverage its subsidiary Reliance Brands’ (RBL’s) deep understanding of the affluent Indian customer and their heft across digital, retail operations, marketing, and supply chain platforms, to build Abraham & Thakore’s global appeal in the fashion and lifestyle category, Reliance Industries said in a press release.

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