Benchmark indices ended flat with a negative bias on Monday. The BSE Sensex fell 87 points or 0.16% and settled at 54,395 and the NSE Nifty 50 settled at 16,216 points, down 4 points.

However, they settled in the green on Friday. The BSE Sensex ended 345 points higher and the Nifty 50 reclaimed the 16,000] mark as the market made a comeback after four days. The financial and FMCG sectors led the gains, whereas there were losses in the auto, metals and IT sectors.

Market Movers

The Recap

In this week’s Recap, we shall take a look at the Tata group’s new IPOs, the new entrant in the 5G spectrum auction, Tesla’s new challengers, Infosys’s acquisition and the connection between cryptocurrencies and credit cards.

Tata Group to come up with IPOs for two companies

• Tata Motors is planning to publicly list its subsidiary Tata Technologies Limited. This will be the first public float from the Tata Group since 2004, after the ₹ 5500 crore IPO of Tata Consultancy Services.
• Tata Technologies reported a 48% jump in revenues to ₹3,530 crores. It employs 9,300 people across the world, serving from facilities in North America, Europe, and the Asia Pacific region.
• Another Tata Group company, Tata Sky (Tata Play) is also planning to launch its IPO to provide an exit to investors, including Disney. 

New Entrant in the 5G Spectrum Bids

• Adani Data Networks, Reliance Jio, Bharti Airtel and Vodafone Idea have applied to participate in the upcoming 5G auction, according to a list issued by the Department of Telecom.
• The auction is scheduled to start on July 26 and it may see aggressive bids for some frequency bands, with the entry of Adani Data Networks.
• The Adani group intends to create a private network to support its businesses from airports to power as well as data centres.

Infosys’ new acquisition

• Infosys said that it will acquire Denmark-based BASE life science for about 110 million euros (Rs 875 crore) in an all-cash deal.
• This acquisition is likely to deepen the IT major’s expertise in the life sciences domain as well as strengthen its footprint across Europe.
• BASE brings to Infosys domain experts with medical, digital marketing, commercial, clinical, regulatory, and quality know-how.

Tesla’s new challengers

• Hyundai Motor and Kia Motors are challenging Tesla. Hyundai was in talks to make an electric vehicle for apple. The deal fizzled, but the competitive threat posed has grown.
• Kia Motors, the sister company of Hyundai, likely finished the first half as one of the world’s top five makers of EVs, excluding hybrids. 
• The duo might have sold about 2,00,000 EV’s in the recent month, however, Tesla is the market leader. Despite lockdown-related problems, its Shanghai factory delivered about 565,000 vehicles. 

Cryptocurrency is coming to credit cards

• Card companies including Visa Inc. and Mastercard Inc. are betting crypto will one day be used for everyday purchases.
• The card networks are working on ways to handle the mechanics of crypto payments themselves. If this works, it would enable settling payments in assets beyond what most consider mainstream currencies.
• The recent crypto crash has shaken some investors, however, payments companies have pressed forward with their plans for crypto-backed payments.

Written By: Simran Bafna

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