Safran Helicopter Engines and Hindustan Aeronautics Limited (HAL) have signed a workshare agreement and will jointly develop the engine for the 13 tonne Indian multi-role helicopter (IMRH) and its naval version deck-based multi-role helicopter (DBMRH).     

The agreement comes in the wake of the MoU signed on July 8 last year, which stipulates sharing of activities within the joint venture where both parties have agreed on an equivalent repartition. 

In particular, HAL will be primarily responsible for the design, development, and production of some of the core engine components, which is a breakthrough achievement in terms of expertise and know-how in the country.

Shares of Adani group companies such as Adani Enterprises, Adani Power, Adani Ports & SEZ and Adani Green Energy fell up to 5 per cent in Tuesday's trade amid reports the group has been in talks since last week with Abu Dhabi’s International Holding Corp (IHC) to infuse capital into Adani Enterprises or other group entities.

Quoting sources, Economic Times reported that top group representatives have returned to Abu Dhabi on Monday for further discussions. The news has come weeks after the Adani Enterprises withdrew its Rs 20,000 crore follow on public offer amid steep fall in the group shares following dozens of allegations of wrongdoing by Hindenburg Research.

Adani Enterprises, Eicher Motors, Grasim Industries, ONGC, Apollo Hospitals Enterprises, Aster DM Healthcare, Bata India, Bharat Forge, Biocon, Bosch, CESC, GMR Airports Infrastructure, Indiabulls Housing Finance, Ipca Laboratories, NBCC (India), NMDC, PI Industries, PNC Infratech, Prestige Estates Projects, Radico Khaitan, Siemens, Spencers Retail, SpiceJet, Swan Energy, and Torrent Power will be in focus ahead of quarterly earnings on February 14.

Zee Entertainment: The media company has reported a 92% year-on-year decline in consolidated profit at Rs 24.31 crore for quarter ended December FY23, dented by weak operating performance, lower topline and exceptional loss (Rs 168.97 crore). Consolidated revenue from operations at Rs 2,111.2 crore fell by 0.07% compared to year-ago period hit by lower advertisement revenue (down 15.6% YoY), but subscription revenue growth was strong at 13.2% in the same period. On the operating front, EBITDA fell by 27.5% YoY to Rs 343.8 crore with margin decline of 615 bps in Q3FY23. Numbers, barring profit, were better than analysts' expectations.

The domestic bourse National Stock Exchange has removed two Adani Group stocks from the Short-Term Additional Surveillance Measure (ST-ASM) Stage I framework, with effect from Feb 13, 2023.

The stock exchange had added three of the ports-to-power conglomerate’s stocks under its ASM framework earlier this month to curb excessive volatility and keep a check on short-selling.

Adani Ports and Special Economic Zone (NS:APSE) and Ambuja Cements (NS:ABUJ) have been removed from the said framework, becoming effective from Monday, while Adani Enterprises (NS:ADEL) continues to remain under the short-term ASM framework by NSE.

MSCI has cracked the whip on the Adani Group. After releasing a statement saying it will scrap the free float status of certain Adani Group companies following feedback from "a range of market participants", the index provider on Thursday announced that it will cut the weighting of four Adani Group companies -- Adani Enterprises, Adani Total Gas, Adani Transmission and ACC.

According to MSCI, the free float of security is defined as the proportion of shares outstanding that is considered available for purchase in the public equity markets by international investors.