India’s First Chip to Launch in September

• Indian stocks extended their losing streak to the eighth straight session on February 14, as escalating global trade tensions weighed on sentiment. U.S. President Donald Trump directed his economic team to draft plans for reciprocal tariffs on nations taxing U.S. imports, raising concerns about India's exposure.

• Despite Indian Prime Minister Narendra Modi's offer to ease tariffs, boost U.S. oil and gas purchases, and discuss defense deals, market sentiment remained weak.

• Investors fear the impact on the rupee and potential outflows from emerging markets, with FPIs pulling ₹1.12 lakh crore from Indian exchanges in less than two months.

• While domestic mutual funds are absorbing some of the selling, pressure from HNIs, family offices, AIFs, and retail investors continues to weigh on markets.

Hindalco Industries +0.25%

• Hindalco's shares rose 2% intraday following its strong Q3FY25 performance.

• Analysts noted its solid operational performance in India but remain cautious about potential impacts from U.S. trade tariffs, balancing current gains with future risks.

Manappuram Finance (6.21%)

• Manappuram Finance's shares dropped more than 6% to ₹182 after weaker-than-expected Q3FY25 results.

• Challenges in its microfinance division, including a previous loan disbursement ban, led to net profit halving and a sharp rise in non-performing loans, underscoring the impact of regulatory actions and industry-specific hurdles on financial performance.

• OpenAI is reportedly in talks to establish a data center in India. (BS)

• First Made-In-India chip to be rolled out by October: IT minister. (BS)

• SEBI eases dematerialisation mandates for AIFs. (TICE)

• Meta plans an undersea cable project to link India and the US. (ET)

• Innovatiview India has filed draft papers with SEBI for a ₹2,000 crore IPO. (MC)

• Mahindra Lifespace plans to raise ₹1,500 crore ($173Mn) through a rights issue. (BS)

• Hexaware Tech's IPO saw a 3x subscription by Day 3, led by QIBs. (MC)

• Quality Power IPO saw a 62% subscription on its first day. (MC)

This week’s mainboard IPO schedule

• Quality Power Electrical Equipments

  • Offering Period: 14 February - 18 February, 2025

  • Listing Date: 21 February, 2025

  • Issue Price: 401-425

  • Lot Size: 26

M&A / Investments

• Fortis Healthcare to acquire Shrimann Superspeciality Hospital in Punjab for ₹462 crore ($53Mn). (BS)

• Motilal Oswal is set to invest ₹450 crore ($51Mn) in beverage brand Lahori. (MC)

• PMI Electro Mobility Solutions secures ₹250 crore ($28Mn) in funding. (YS)

• Uno Minda to acquire the remaining 49.9% stake in its JV firm for ₹195 crore ($22Mn). (ET)

• Asian Paints is set to exit Indonesia in a ₹48 crore ($5.6Mn) deal with Omega Property. (BS)

• Reliance Industries acquires Lakadia B Power Transmission for ₹6.73 crore ($776k). (ET)

• Reliance acquires Velvette, the FMCG brand known for pioneering the sachet revolution. (Mint)

Debt

• Tata Steel plans to raise ₹3,000 crore ($346Mn) through NCDs via private placement. (Mint)

• IndusInd Holdings to raise ₹800 crore ($92Mn) for acquiring Invesco MF. (ET)

VC