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Here are the top stories to start your day.
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⭐ Tata Tech IPO on the way
Tata Motors announced that its internal committee has given in-principle approval to divest partial stake in Tata Technologies, a subsidiary of the company via IPO. Tata Technologies provides engineering and design services and other IT related services to the automotive and aerospace sector. The company will make further announcements related to the IPO when a plan is in place.
⭐ BGR Energy bags new order
BGR Energy has secured a new order from Indian Oil Corporation. The new project is worth ₹330 crore, representing nearly 27% of FY22 revenue. The project work includes construction of civil and structural work at Panipat Refinery. This is to be executed over a 24-month period.
⭐ India’s coal import rises
According to Coal Ministry data, India imported 131 million tonnes (MT) of coal worth ₹2.3 lakh crore, representing 63% of last year's coal import in the first two quarters of FY23. Since FY19, the country’s total coal imports has consistently fallen on an annual basis. Import of coal in India consists mainly of coking coal and high grade coal as domestic production is limited due to either scarce reserves or non-availability.
Global markets (at 8:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.24% |
| Nikkei 225 (Japan) | ▲ 0.37% |
| Hang Seng (Hong Kong) | ▲ 1.18% |
| SSE Composite (China) | ▲ 0.12% |
| Dow Jones (US) (December 12) | ▲ 1.58% |
| NYSE (US) (December 12) | ▲ 1.53% |
| Nasdaq (US) (December 12) | ▲ 1.26% |
| S&P 500 (US) (December 12) | ▲ 1.43% |
Fact of the day
India’s net direct tax collection grew by 24% to 8.7 lakh crore between April to November of current fiscal year.
Source: Moneycontrol