Top headlines: Hyundai India bets on EVs; showbiz fears Omicron bug

Coronavirus variant casts a shadow over Indian silver screen. More on that story in our top headlines.

Indian IT industry valuation premium over the broader market is now at its highest level in more than a decade. More on that story in our top headlines this morning.

Hyundai India to invest Rs 4,000 cr on EVs 

South Korean major Hyundai, which has the second-largest market share in India’s passenger vehicle market, will invest around Rs 4,000 crore to launch six electric vehicles (EVs) by 2028. The first of the six vehicles will come in 2022.

Omicron casts a shadow of on Indian movies

Just as the picture was beginning to get bright, a cloud in the form of the Omicron variant has cast a shadow over the silver screen. With 1,800 movies lined up for a theatrical release, waiting for cinemas to open with 100 per cent capacity, the stakes are high.

Fino Payments 'not planning' to be small finance bank

Fino Payments, India’s only listed payment bank, is not keen to become a small finance bank immediately though it will be eligible to be when it completes five years in June 2022. “We will have to see after one or two years how the situation evolves, then we will decide,” said Rishi Gupta, the company’s CEO.

IT sector valuation touches new high

India’s leading information technology (IT) services companies, such as Tata Consultancy Services, Infosys, Wipro, and HCL Technologies, among others, are the flavor of the season on D-Street. The IT industry valuation premium over the broader market is now at its highest level in more than a decade.

Biden and Putin square off over Ukraine

President Joe Biden and Russia's Vladimir Putin squared off Tuesday over the massive buildup of Russian troops near the Ukrainian border, the US president eager to use his video call with Putin to serve notice that Moscow will face economy-jarring sanctions if it invades neighboring Ukraine.