Indices at 10:00 am
Nifty50 13,513 ▲ 47 (+0.3%)
Sensex 46,152 ▲ 145 (+0.3%)
Nifty Bank 29,668 ▲ 42 (+0.1%)
In the news
Wipro-Metro AG sign $700 mn deal
- Wipro has entered into a strategic deal with the German wholesaler wherein 1,300 employees of Metro will be transferred to Wipro. This way, Wipro will deliver tech transformation solutions while Metro will focus on being a wholesale provider.
- The five-year deal is worth about $700 million and could be extended by another four years, pushing its estimated worth to $1 billion. Shares of Wipro extended yesterday’s rally and were up 2.6% today.
Bajaj Auto plans new ₹650 crore plant
- Two-wheeler major Bajaj Auto has announced that it will set up a facility in Maharashtra to manufacture high-end models of KTM, Husqvarna and Triumph along with electric vehicles such as the Chetak.
- The company plans to invest ₹650 crore on this facility which is expected to start production in 2023. Meanwhile, shares of Bajaj Auto were trading flat (+0.1%) today.
EIL approves ₹587 crore buyback
- State-owned Engineers India will buy back its shares worth about ₹587 crore for ₹84 per share. EIL provides engineering consultancy and EPC services principally focused on the oil & gas and petrochemical industries.
- It plans to buy back about 11% of its equity shares. The government holds a 51.5% stake in the company. Shares of EIL rose 4.6%, and are up 0.4% today.
Antony IPO subscribed 3.85 times
- The public issue of Antony Waste Handling Cell was subscribed 3.85 times on day two. The retail portion was subscribed 7.2 times.
- The bidding data suggests that the IPO has been able to beat market volatility. The ₹300 crore issue closes today and its price band is ₹313-315 per share.
- To read more about the IPO, click here. You can apply to the IPO on Upstox here.
Events this week
- Tuesday: GDP, existing home sales (US)
- Wednesday: Initial jobless claims, new home sales, crude oil inventories (US)
|Top gainers||Top losers|
|Global markets||Today's movement|
|Nikkei 225 (Japan)||▲ 0.4%|
|Hang Seng (Hong Kong)||▲ 0.4%|
|SSE Composite (China)||▲ 0.8%|
|Dow Jones (US)||▼ 0.6%|
Fact of the day
Jingle Bells' wasn’t originally a Christmas song! The jolly anthem was written in 1850, entitled 'One Horse Open Sleigh', for the American holiday, Thanksgiving!
Source: National Geographic
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Investment in securities markets are subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.