Nifty futures on the Singapore Exchange traded 76.5 points, or 0.41 percent lower at 18,733.5, indicating that Dalal Street was off to a negative start on Tuesday.
Tata Motors: The homegrown automaker wants to raise passenger car prices from next month to help its model range meet stricter emissions standards that will come into effect from April 1 next year. The price revision would also offset the impact of commodity prices, which have remained high for most of the year.
Vodafone Idea: American Tower Corporation (ATC), a cell tower company, expressed uncertainty about Vodafone Idea’s intention to settle its dues by January. Last month, the shareholders of debt-ridden Vodafone Idea approved the issuance of shares worth Rs 1,600 crore to ATC Telecom Infrastructure – the Indian branch of ATC.
HDFC: Life Insurance Corporation of India (LIC) purchased an additional 2.14 lakh shares (0.012%) stake in the company through open market transactions on 2 December. This increased LIC’s stake in the Corporation to 5.003% from 4.991% previously.
TVS Motor Company: Promoter Srinivasan Trust has redeemed Rs 262 crore stake in TVS Motor Company. Promoter Srinivasan Trust has sold entire shares worth Rs 262.1 crore through open market transactions. It sold 25.69 lakh shares at an average price of Rs 1,020 per share.
Bajaj Consumer Care: The company will consider a share buyback on December 9. The company said its board of directors will consider a proposal to buy back the company’s own shares on Dec. 9.
IRB Infrastructure Developers: The company and its InvIT subsidiary IRB Infrastructure Trust have collectively reported a 39% increase in tolls in November 2022 year-over-year, across all projects. The company reported that the toll will be Rs 365.95 crore in November, up from Rs 262.81 crore in November 2021.
BCL Industries: BCL Industries receives orders from OMCs, Reliance Industries for the supply of ethanol. The company has received an order worth Rs 285 crore to supply 4.9 crore liters of ethanol to oil marketing companies. Moreover, the distillery has also secured an order to supply 1.65 crore liters of ethanol to Reliance Industries with an order value of Rs 107 crore.
Rainbow Children’s Medicare: British International Investment Plc in the UK exits Rainbow Children’s Medicare. Britain’s British International Investment Plc exited Rainbow Children’s Medicare by selling its entire shareholding through open market transactions. CDC India Opportunities, owned by British International Investment Plc, sold 50.33 lakh shares at an average price of Rs 735 per share, and CDC Group PLC, which is now known as British International Investment Plc, sold 96.32 lakh shares at an average price of Rs 735.55 per share, both of which were worth Rs 1,078.48 crore.
Natco Pharma: The company has received a favorable ruling in the chlorantraniliprole case. The Delhi High Court has rejected an appeal filed by FMC Corporation, FMC Singapore and FMC India, upholding the judgment of the single judge, saying that the Natco Chlorantraniliprole (CTPR) trial does not infringe FMC’s Indian patent 298645 .
DreamFolks Services: The largest airport services aggregator has signed a strategic partnership with Vidsur Golf to provide clients with access to golf courses across India and Asia Pacific.
Go Fashion India: Sequoia Capital India sells Rs 228 crore shares of Go Fashion. Canara Robeco Mutual Fund account Canara Robeco Small Cap Fund purchased 3.2 lakh shares in the company through open market transactions at an average price of Rs 1,140 per share, which were worth Rs 36.48 crore. However, Sequoia Capital India Investments IV sold 20 lakh shares at an average price of Rs 1,140.14 per share, which were worth Rs 228.02 crore.
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