India's economic revival is slowing, key indicators show. Data from the corporate affairs ministry show the setting up of new firms, which indicates investment intent, fell 19.5% in November to 13,453 from the preceding month
NEW DELHI: Following is the list of top 10 stocks that could be in news on Wednesday:
Infosys: German automotive major Daimler AG and Infosys Ltd has entered a long-term strategic partnership for a technology-driven IT infrastructure transformation. Infosys didn't disclose financial details of the deal but it is estimated at over a billion dollars, according to a person.
Wipro: The IT major on Tuesday said its share buyback programme of up to ₹9,500 crore, will begin on 29 December and close on 11 January. It also announced a deal with German wholesaler METRO AG at an estimated value of up to $1 billion.
Bajaj Auto: On Tuesday said it has signed a memorandum of understanding (MoU) with the Maharashtra government to set up a manufacturing unit in Chakan at an estimated cost of ₹650 crore. The facility is expected to commence production in 2023.
Mahindra & Mahindra: JP Morgan has sought repayment of loan worth 40 billion Korean wons from Mahindra & Mahindra's troubled foreign arm SsangYong Motor Company but the South Korean automaker has expressed its inability to pay the amount now.
DHFL: Oaktree Capital, which is in a tight race to acquire Dewan Housing Finance Limited ( DHFL) has written to the lenders of the mortgage financier urging fair treatment in the evaluation process of its bid.
Vodafone Idea: Has inked a pact with story publishing platform Firework, which will give access to the telco's subscribers to content in form of short video stories. This partnership comes at a time when telcos are trying out different services to engage their customers and prevent them from switching out.
Manappuram Finance: Said it has raised ₹400 crore by issuing bonds on private placement basis. The Financial Resources and Management Committee of the board of directors of the company has approved the allotment of 4,000 rated, secured, redeemable non-convertible debentures aggregating to ₹400 crore, the company said in a regulatory filing.
Shipping Corp: The finance ministry on Tuesday began the process of divesting the government’s entire 63.75% stake in Shipping Corporation of India (SCI) along with management control by inviting expressions of interest from potential bidders. At SCI’s current market price, the government can raise around ₹2,500 crore from the stake sale.
AstraZeneca: India is likely to approve Oxford/AstraZeneca's coronavirus vaccine for emergency use by next week after its local manufacturer submitted additional data sought by authorities, Reuters has reported citing two sources.
Punjab and Sind Bank: The Centre, in a first move of its kind, has issued ₹5,500 crore in zero-coupon bonds for recapitalising Punjab and Sind Bank and allowed it to park the paper in its held-to-maturity (HTM) category at face value rather than the discounted market rate. Zero-coupon bonds do not bear any interest and are traded at a discount to the face value.
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