Telecom operator Bharti Airtel on Monday announced an agreement to acquire about 25 per cent equity stake in Bengaluru-based technology startup Lavelle Networks. Further, ASM Technologies, a global technology engineering and product development services provider, has done a follow on investment in Lavelle Networks.

In a statement on Monday, Airtel announced the acquisition of about 25 per cent strategic stake in SD-WAN startup Lavelle Networks but did not disclose financial details about the deal that entails a cash consideration.

Sebi has barred fugitive businessman Mehul Choksi and one Rakesh Girdharlal Gajera from the capital markets for one year and levied a fine totalling Rs 2.5 crore on them for violating insider trading rules in the matter of Gitanjali Gems.

In addition, they have been restrained from buying, selling or otherwise dealing in securities of Gitanjali Gems Ltd (GGL) for a period of two years.

Reliance Brands (RBL), the brand licensing arm of Reliance Industries (RIL), has entered into a 60:40 joint venture (JV) with fashion designer Rahul Mishra to create a new ready-to-wear (pret) business.

The brand will grow both vertically and horizontally to cross-pollinate creativity further in the fields of accessories, footwear, home, beauty, and jewellery for a worldwide audience, said a joint statement.

The country’s largest pharma player, Sun Pharmaceutical Industries, which has an 8.2 per cent share of the Rs 1.67 trillion Indian market, posted an 11 per cent year-on-year (YoY) rise in consolidated revenues to Rs 9,814.2 crore in Q3FY22, riding on strong growth in its key markets – India and the US.

The net profit for the quarter was Rs 2,058.8 crore. The Ebitda came in at Rs 2,557.4 crore, with a resulting Ebitda margin of 26.1 per cent.

A meeting of the Union Cabinet will be held on Tuesday at 10

After getting the nod from the cabinet, Finance Minister Nirmala Sitharaman will present the Union Budget 2022-23 in a paperless form for the second time on February 1. Earlier, the Union Budget of 2021-22 was delivered in paperless form last year for the first time.

The price of 10 gram of 24-carat gold increased by Rs 90 on Monday with the precious metal trading at Rs 49,090.

The price of 22-carat gold remained unchanged at Rs 45,000.

One kg of silver is selling at Rs 61,200, up Rs 100 from yesterday.

The Election Commission will hold a review meeting on Monday to discuss the existing ban on physical rallies in view of declining Covid cases.

The Union Health Secretary is likely to meet the poll body virtually at around 11 a.m. on Monday. The Health Secretaries of five poll-bound states - UP, Punjab, Uttarakhand, Goa, and Manipur - are also likely to join the virtual meeting.

Prime Minister Narendra Modi on Sunday said India is fighting the new wave of Covid with "great success" and asserted that the people's trust on indigenous vaccines was our strength.

In his monthly 'Mann Ki Baat' radio broadcast, Modi said, Now the cases of corona infection have also started decreasing, this is a very positive sign.

Shares of Bharat Dynamics (BDL) hit a new high of Rs 507.80, on rallying 5 per cent on the BSE in Monday’s intra-day trade ahead of Budget. The stock of state-owned defence company has rallied 27 per cent in the past three weeks, as compared to 4 per cent decline in the S&P BSE Sensex.

At 09:48 am; BDL traded 3 per cent higher at Rs 501, as against a 1.4 per cent gain in the benchmark index. A combined 232,000 equity shares changed hands at the counter on the NSE and BSE.

Shares of Larsen & Toubro (L&T) slipped 2.5 per cent to Rs 1,851 on the BSE in Monday’s intra-day trade after the company reported a 17 per cent year-on-year (YoY) decline in consolidated net profit at Rs 2,055 crore for the December quarter (Q3) as high raw material costs ate into the bottom line even as net sales rose.

The stock of the country’s largest infrastructure company traded lower for the third straight day, down 4 per cent during the period. It had hit a record high of Rs 2,078 on January 18, 2022.

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