Tata Motors, Union Bank of India, HDFC and other stocks in news today


NEW DELHI: Trends in the SGX Nifty indicate a flat opening for the broader index in India. On Friday, the BSE Sensex plunged 981 points, the biggest single-day loss since September 23, to 59,845 while the Nifty50 tanked 321 points.
Muted trading was seen in the Asian Markets with Nikkei up 0.4 percent, while Taiwan, Kospi and Shanghai Composite are trading flat.
Wall Street shuffled to a modestly higher close on Friday and Treasury yields advanced as investors digested a deluge of economic data ahead of the Christmas holiday long weekend, capping a week fraught with worries over the Fed’s restrictive monetary policy and related recession fears.
The Dow Jones Industrial Average rose 176.44 points, or 0.53 percent, to 33,203.93 the S&P 500 gained 22.43 points, or 0.59 percent, to 3,844.82 and the Nasdaq Composite added 21.74 points, or 0.21 percent, to 10,497.86.
Stocks in news
Tata Motors: Tata Motors subsidiary TML CV Mobility Solutions has received a contract from Delhi Transport Corporation (DTC) for operation of 1,500 electric buses in New Delhi. TML will supply, operate and maintain 1,500 units of 12-metre low-floor air-conditioned electric buses for a period of 12 years.
Union Bank of India: The bank has raised Rs 663 crore via allotment of Basel III compliant Additional Tier 1 bonds.
NDTV: The founders of the company, Radhika Roy and Prannoy Roy, will transfer 27.26% of their stake in the company to Adani Group-owned RRPR Holding. Consequently, Adani Group will hold 64.71% stake in the news broadcaster.
Quess Corp: The company has withdrawn plans to merge its subsidiary Allsec Technologies, but did not elaborate on what triggered the decision.
Alkem Laboratories: The company will sell 8% stake arm Enzene Biosciences to 2 funds for Rs 160 crore. Proceeds from the sale will be used for capacity expansions in India and the US.
Wipro: The company has bought a minority stake in US-based Kibsi Inc for $1.5 million. The acquisition is to build a partnership in computer vision applications.
HDFC Ltd: World Bank’s investment arm, International Finance Corporation (IFC) has proposed to make a $400 million loan to mortgage lender HDFC Ltd, with an aim to drive India’s green housing growth. The capital will help HDFC boost its green affordable housing portfolio, with 75% (around $300 million) of the proceeds earmarked for this sector.
Railtel Corporation of India: Indian Railways‘ wholly-owned subsidiary RailTel Corporation of India Ltd has bagged an order from Webel Technology Ltd (WTL), a Govt of West Bengal undertaking for Capacity Enhancement of West Bengal State Data Centre (WB-SDC). The work order is valued at Rs 98.56 Crore.





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