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<ul><li>V-Guard announced the signing of definitive agreements for acquiring 100 percent stake in <keyword id="1150888" type="General" weightage="80" keywordseo="sunflame" source="Orion">Sunflame</keyword> Enterprises Private Ltd. (SEPL).</li><li>The acquisition is in line with V-Guard's strategy to become a significant player in the domestic Kitchen Appliances segment.</li><li><keyword id="419856" type="General" weightage="50" keywordseo="mithun-chittilappilly" source="Orion">Mithun Chittilappilly</keyword>, Managing Director, V-Guard, said Sunflame is an iconic brand etched in the memories of Indian households and is expected to provide significant thrust to V-Guard's plans to become a leading Indian Kitchen Appliances player.</li></ul>Kochi-based <keyword id="12005705" type="General" weightage="20" keywordseo="v-guard-industries" source="Orion">V-Guard Industries</keyword> (V-Guard) on Saturday announced the signing of definitive agreements for acquiring 100 per cent stake in Sunflame Enterprises Private Ltd. (SEPL) for Rs 660 crore. The all-cash deal is expected to close by mid of January 2023, said a top V-Guard official and it would be funded through a mix of internal accruals and debt. The acquisition is in line with V-Guard's strategy to become a significant player in the domestic Kitchen Appliances segment. The Sunflame brand has a pan <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> presence with a strong brand recall. SEPL's wide portfolio, product development capabilities and the recently established state-of-the-art integrated manufacturing facility provide the perfect opportunity for V-Guard to scale up its Kitchen Appliances business while also unlocking synergy benefits. Mithun Chittilappilly, Managing Director, V-Guard, said Sunflame is an iconic brand etched in the memories of Indian households and is expected to provide significant thrust to V-Guard's plans to become a leading Indian Kitchen Appliances player. K.L. Verma, Managing Director, SEPL said that having started this journey in 1984, they have come a long way since then. V-Guard, a name synonymous with trust, is the right organization to take this legacy forward. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/cyclone-mandous-weakens-into-deep-depression-after-crossing-coast-in-tn/articleshow/96125993.cms">Cyclone Mandous weakens into deep depression after crossing coast in TN</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-abstains-on-unsc-resolution-exempting-aid-from-sanctions-says-terror-groups-in-neighbourhood-take-advantage-of-carve-outs/articleshow/96125902.cms">India abstains on UNSC resolution exempting aid from sanctions, says terror groups in neighbourhood take advantage of carve-outs</a>

V-Guard to acquire Sunflame Enterprises for ₹660 crore

<keyword id="107096" type="General" weightage="80" keywordseo="tesla" source="Orion">Tesla</keyword> has lost nearly half its market value since its founder, <keyword id="6355315" type="General" weightage="100" keywordseo="elon-musk" source="Orion">Elon Musk</keyword>, bid for Twitter in April, reducing his net worth by about $70 billion and putting his title as worlds richest person at risk. Shares in the electric car company traded at $340.79 on April 13, the day before Twitter revealed in a securities filing that the billionaire had made a hostile bid to buy the social media company for $43.4 billion, the <keyword id="6359268" type="General" weightage="80" keywordseo="guardian" source="Orion">Guardian</keyword> reported. Since then the Tesla share price has plunged by 49 per cent to $173.44, also due to concerns around disruptions at one of its factories in Shanghai. The Tesla boss has sold $20 billion of Tesla shares since April to fund the buyout. This means his claim to be the planet's wealthiest person is under threat, with <keyword id="6354785" type="General" weightage="20" keywordseo="france" source="Orion">France</keyword>'s Bernard Arnault, chief executive of the luxury group LVMH, snapping at his heels. On Wednesday, share movements meant Arnault briefly took top spot, The Guardian reported. Musk has said of his Twitter takeover: "Having a public platform that is massively trusted and broadly inclusive is extremely important to the future of civilisation." However, Tesla shareholders worry about how he is dividing his time between the social media site and his many other ventures such as the rocket company SpaceX, and that running Twitter is too much of a distraction. He is under pressure to turn around Twitter, which was already struggling before he bought it, making a $221m net loss last year, the Guardian reported. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/v-guard-to-acquire-sunflame-enterprises-for-660-crore/articleshow/96130526.cms">V-Guard to acquire Sunflame Enterprises for ₹660 crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/cyclone-mandous-weakens-into-deep-depression-after-crossing-coast-in-tn/articleshow/96125993.cms">Cyclone Mandous weakens into deep depression after crossing coast in TN</a>

Elon Musk could lose world's richest person title as Tesla lost half market value

<keyword id="10387" type="General" weightage="100" keywordseo="microsoft" source="Orion">Microsoft</keyword> has announced that it has acquired Lumenisity Limited, a leader in next-generation hollow core fibre (<keyword id="5128052" type="General" weightage="80" keywordseo="hcf" source="Orion">HCF</keyword>) solutions. Lumenisity's innovative and HCF product can allow fast, reliable and secure networking for global, enterprise and large-scale organisations, the tech giant said in a blogpost on Friday. With the acquisition, Microsoft can expand its ability to further optimise its global cloud infrastructure and serve its <keyword id="1057264" type="General" weightage="50" keywordseo="cloud-platform" source="Orion">Cloud Platform</keyword> and Services customers with strict latency and security requirements. A wide range of industries including healthcare, financial services, manufacturing, retail, and government, can gain benefit from the technology. "Organisations within these sectors could see significant benefit from HCF solutions as they rely on networks and data centres that require high-speed transactions, enhanced security, increased bandwidth and high-capacity communications," Girish Bablani, corporate vice president, <keyword id="15747915" type="General" weightage="50" keywordseo="azure-core" source="Orion">Azure Core</keyword>, Microsoft, explained. HCF could speed up medical image retrieval in the healthcare industry by enabling providers to ingest, store and share medical imaging data in the cloud because it can handle the size and volume of large data sets. Additionally, with the development of the digital economy, HCF could support global financial institutions looking for fast, secure transactions across a wide area. It has several advantages over traditional cable including, "increased overall speed and lower latency as light travels through HCF 47 per cent faster than standard silica glass" and "enhanced security and intrusion detection due to Lumenisity's innovative inner structure". Moreover, it provides "lower costs, increased bandwidth and enhanced network quality due to elimination of fibre nonlinearities and broader spectrum" and "potential for ultra-low signal loss enabling deployment over longer distances without repeaters." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/elon-musk-could-lose-worlds-richest-person-title-as-tesla-lost-half-market-value/articleshow/96132060.cms">Elon Musk could lose world's richest person title as Tesla lost half market value</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/v-guard-to-acquire-sunflame-enterprises-for-660-crore/articleshow/96130526.cms">V-Guard to acquire Sunflame Enterprises for ₹660 crore</a>

Microsoft acquires firm developing high-speed cables

<ul><li><keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> opened below 62,000 at 61,963, down by 217 points while the 50-stock index <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> was down 64 points at 18,427.</li><li>On the global front, investors await monetary policy decisions of the central banks in the US, Europe to be announced this week.</li><li>Sula Vineyards and Abans Holdings IPO will open for subscription today, while Uniparts India shares will debut on the exchanges.</li><li>BHEL, Delta Corp, GNFC and Punjab National Bank are banned in the <keyword id="15759780" type="General" weightage="20" keywordseo="FO-ban-list" source="Orion">F&amp;O ban list</keyword> on Monday.</li></ul>Sensex and Nifty50 opened lower on Monday following weak global markets and ahead of November’s retail inflation data to be released later in the day. SGX Nifty, an early indicator of how the markets may perform, was down 0.29% early morning today. Sensex opened below 62,000 at 61,963, down by 217 points while the 50-stock index Nifty50 was down 64 points at 18,427. On the global front, investors await monetary policy decisions of the central banks in the US, Europe to be announced this week. Last week, the Reserve Bank of India <a href="https://www.businessinsider.in/finance/news/rbi-hikes-repo-rate-by-35-bps-taking-rates-to-a-high-of-6-25/articleshow/96045841.cms">announced</a> a 35-basis point rate hike in line with expectations, but analysts suggest that RBI governor Shaktikanta Das’ commentary indicates another rate hike is on the cards. Last Friday, Indian markets closed lower due to selling pressure in IT, energy and PSU bank stocks. Meanwhile Brent crude oil prices remained below $80 levels at $76 per barrel on Monday. At the same time rupee was up 0.25% at 82 against the US dollar. Sula Vineyards and Abans Holdings IPO will open for subscription today, while Uniparts India shares will mark its debut on the stock exchanges. Global markets Markets around the world were also trading on a negative note as all eyes were on a US Fed rate decision on Wednesday. <keyword id="35189" type="General" weightage="20" keywordseo="asian-markets" source="Orion">Asian markets</keyword> were trading lower on Monday, with the Hang Seng index falling 2.12%, Shanghai Composite declining 0.63%. Nikkei 225 posted a fall of 0.24%, while KOSPI was 0.67% in the red. In the US markets, S&amp;P 500 ended 0.73% lower on Friday, and the tech-heavy Nasdaq too closed 0.7% lower. The Dow Jones Industrial Average also ended lower with 0.9%. “US S&amp;P 500 Index recorded its worst return in five weeks, while the small-cap Russell 2000 Index endured its worst week since late September. Investors are waiting to hear what (Fed Reserve) Chairman (Jerome) Powell says about the inflationary environment next Wednesday (December 14) when the two-day Federal Open Market Committee (FOMC) meeting wraps up,” said Devarsh Vakil, deputy head of retail research at HDFC Securities. <keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword> on Monday State Bank of India: The public sector lender on Friday said its board will meet on December 14 to consider raising additional Tier 1 capital by issuing debt in rupees or other convertible currency raising capital through Tier I bonds. Vodafone Idea: The telecom operator and its vendor ATC Telecom Infrastructure have agreed to extend the last date for subscription of ₹1,600 crore optionally convertible debentures to February 28. V Guard Industries: The consumer electronics manufacturer announced that it will buy Sunflame Enterprises Private (SEPL) for ₹660 crore, on a cash-free, debt-free basis. Stocks under F&amp;0 ban BHEL, Delta Corp, GNFC and Punjab National Bank are banned in the F&amp;O ban list on Monday. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/best-and-worst-performing-ipos-of-2022-in-india/articleshow/96160391.cms">Best and worst performing IPOs of 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/three-ipos-set-to-raise-over-1800-crore-this-week/articleshow/96160133.cms">Three IPOs set to raise over ₹1,800 crore this week</a>

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V-Guard to acquire Sunflame Enterprises for ₹660 crore

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Elon Musk could lose world's richest person title as Tesla lost half market value

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Microsoft acquires firm developing high-speed cables

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Sensex, Nifty50 open weak tracking global markets -- SBI, Vodafone Idea, Uniparts India among stocks to watch out for

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