Tesla Begins Hiring in India

• After a mild recovery in the previous session, Indian markets resumed their decline on Tuesday, February 18, before rebounding from early losses as investors adopted a 'buy on dips' approach.

• Both front-line indices opened lower, falling as much as 0.70%, but recovered most losses by mid-session, maintaining positive momentum to close stable.

• The rebound was driven by stocks entering oversold territory after recent selling pressure, prompting a technical recovery. Meanwhile, markets continue to fluctuate as investors assess global trade tensions, high valuations, and mixed corporate earnings.

Gillette India +10.53%

• Shares jumped over 16% intraday as investors cheered the company's strong Q3 earnings.

• Net profit rose over 21% YoY to ₹125.97 crore, while revenue grew 7.2% to ₹685.55 crore, driven by an 11% increase in grooming segment sales, which offset a decline in the oral care business.

Zen Technologies (10.00%)

• Shares remained under heavy selling pressure, plunging 10% in a single session and 33% over three days after reporting a sharp sequential decline in Q3 earnings.

• The drop was driven by delays in booking certain contracts, raising concerns about growth visibility, order inflows, and acquisition plans, further dampening investor sentiment.

• Qatar pledges a ₹86,000 crore ($10Bn) investment in India. (RT)

• Elon Musk’s Tesla begins hiring in India. (EN)

• Tesla finalizes showroom locations in Delhi and Mumbai, reports say. (RT)

• Uber introduces a zero-commission model for auto drivers across India. (YS)

• IRDAI permits fund blocking via UPI for insurance premium payments. (BS)

• IRDAI allows a one-time UPI mandate for purchasing life and health insurance. (HBL)

• Temasek-backed Licious targets a ₹17,320 crore ($2Bn) valuation for its IPO. (MC)

• Nazara secures shareholder approval to raise ₹495 crore ($57Mn) through a preferential issue. (Inc42)

• Navi Group aims to launch its IPO in FY26. (UP)

• Quality Power's IPO subscribed 1.29 times by the final 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

• Sunil Mittal offloads ₹8,476 crore ($976Mn) worth of Airtel stake. (BS)

• Titan plans to acquire a stake in Damas Jewellery for ₹4,500 crore ($518Mn). (BS)

• Powergrid acquires Bidar Transco for ₹6.52 crore ($750k). (BS)

• ICICI may acquire an additional 3% stake in Prudential JV. (ET)

• Blackstone enters the race to acquire Akzo Nobel's paints business. (BS)

Debt

• KKR-backed Highways Infrastructure Trust secures a ₹8,250 crore ($950Mn) loan. (ET)

• Can Fin Homes plans to raise ₹2,000 crore ($230Mn) through NCDs. (BS)

• Symbiotics Investments extends ₹43 crore ($5Mn) in debt to Credit Fair. (YS)

VC