Rupee snaps 9-day winning streak, slips 3 paise against U.S. dollar

Scienjoy Announces Acquisition Of Hongle.tv – Quick Facts

Scienjoy Holding Corp. (SJ) has entered into an equity acquisition framework agreement to acquire 100% equity interest in Beijing Weiliantong Tech Co., Ltd, which holds Hongle.tv, and 100% equity interest in Golden Shield Enterprises Limited, which holds the NFT business for a total consideration of approximately $43.8 million. Hongle.tv is a mobile phone live streaming platform focusing on younger generation.

Also, Junpeng Guo, one of the shareholders of Tianjin Yieryi Technology Co., will pay Zhihui Qiyuan (Hainan) Investment Co., Ltd., a variable interest entity of Scienjoy, approximately $4.7 million to purchase the 12% equity interest of Tianjin Yieryi held by Zhihui Qiyuan (Hainan) Investment Co., Ltd.

Kawasaki Z900 price to be hiked from January 1

Kawasaki has announced a 2022 model, Z900 which gets a price hike effective from January 1. The inline four-cylinder model joins a number of other Kawasaki bikes, which are set to see their prices rise from the New Year.

The sticker price for the Z900 will go up from the current ex-showroom value of ₹8.42 lakh to ₹8.50 lakh. While there will be no mechanical changes to the bike, Kawasaki does say the Z900 gets a new colour scheme for the 2022 model, called Candy Lime Green.

The shade was already on the Z900’s brochure even when the model was reintroduced as a BS6-compliant machine in September last year. The full name of the new colour scheme is Candy Lime Green Type 3, which is where the secret lies.

While the old Candy Lime Green colour scheme features a green belly pan and front mudguard, with the frame painted in black, the new Type 3 version gets a black belly pan and front mudguard, and the frame painted in green. These are the most obvious ways to identify the new colour scheme, but keener observers will also notice slight revisions to the colours and graphics on the tank shrouds and the headlight cowl.

The Z900 will continue to be powered by a 948cc inline four-cylinder engine that puts out 125hp of power at 9,500rpm and 98.6Nm of torque at 7,700rpm.

Hero MotoCorp to hike scooter, bike prices in January

Come January 4, 2022, Hero MotoCorp will increase the prices of its motorcycles and scooters. , as per its latest announcement.

Hero MotoCorp becomes the third two-wheeler company to announce a price hike after Ducati and Kawasaki. Like Ducati, Hero cited the steadily increasing rates of commodities for the price revision.

While Hero has not specified the exact increase, it has said price revision will be up to ₹2,000. The company has also mentioned that the exact increase will also depend on the model and the market.

In other news, Hero recently filed trademarks pertaining to the name ‘Vida’, which is likely to be the sub-brand under which it will sell its electric two-wheelers. The company is readying, an electric scooter, for launch by March, and has also struck an agreement with Gogoro, a Taiwanese company, for battery swapping technology.

Harley-Davidson’s LiveWire sub-brand to go public

Harley Davidson has announced that its LiveWire all-electric sub-brand will go public, and partner with sustainability-focused special purpose acquisition company AEA-Bridges Impact Corporation (ABIC). The company will be making a further $100 million investment into the brand with Taiwanese manufacturer Kwang Yang Motor Co Ltd (KYMCO) set to make an equal investment for a 4% share in the venture.

Once the deal is completed, LiveWire will become the first publicly traded electric motorcycle company in USA, with an estimated post-money valuation of $2.3 billion.

With a number of products in LiveWire’s pipeline, KYMCO’s entry should help the brand crack the Eurasian markets where it has a strong footing. Harley Davidson says that LiveWire will benefit from the engineering expertise, manufacturing footprint, distribution, supply chain infrastructure and global logistics capabilities of both Harley-Davidson and KYMCO. Additionally, KYMCO is already manufacturing and selling electric scooters in Eurasian markets, and perhaps, these could be tweaked, rebranded and sold under the LiveWire brand.

FuelCell Energy Inc. Q4 Loss misses estimates

FuelCell Energy Inc. (FCEL) reported Loss for fourth quarter that missed the Street estimates.

The company’s bottom line totaled -$24.98 million, or -$0.07 per share. This compares with -$19.66 million, or -$0.08 per share, in last year’s fourth quarter.

Analysts on average had expected the company to earn -$0.04 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 18.0% to $13.94 million from $17.00 million last year.

FuelCell Energy Inc. earnings at a glance:

-Earnings (Q4): -$24.98 Mln. vs. -$19.66 Mln. last year.
-EPS (Q4): -$0.07 vs. -$0.08 last year.
-Analyst Estimates: -$0.04
-Revenue (Q4): $13.94 Mln vs. $17.00 Mln last year.

Rupee snaps 9-day winning streak, slips 3 paise against U.S. dollar

The rupee is expected to trade in a close range this week.

The rupee snapped its nine-day winning streak to settle 3 paise lower at 74.73 (provisional) against the U.S. dollar on Wednesday, following weakness in domestic equities.

At the interbank foreign exchange, the rupee started on a tepid note at 74.69 against the dollar. During the day, it witnessed a high of 74.68 and a low of 74.86.

On Tuesday, the rupee registered its ninth straight session of gain and surged 30 paise to close at a one-month high of 74.70 against the greenback.

The rupee is expected to trade in a close range this week amid the year-end holidays, forex traders said.

On the domestic equity market front, the BSE Sensex ended 90.99 points or 0.16 % lower at 57,806.49, while the broader NSE Nifty declined 19.65 points or 0.11 % to 17,213.60.

Meanwhile, the dollar index, which measures the greenback’s strength against the basket of six currencies, advanced 0.18 % to 96.37.

Brent crude futures, the global oil benchmark, rose 0.11 % to $ 79.03 per barrel.

Foreign institutional investors turned net buyers in the capital market on Tuesday, as they purchased shares worth ₹ 207.31 crore, as per stock exchange data.