NEW DELHI: Below is the list of the top 10 stocks that could be in the news on Wednesday:
Infosys: Major German automaker Daimler AG and Infosys Ltd have established a long-term strategic partnership for a technology-driven transformation of IT infrastructure. Infosys did not disclose financial details of the deal, but it is estimated at more than $ 1 billion, according to one person.
Wipro: TI’s principal said Tuesday that its share buyback program of up to ₹9.5 billion rupees, will start on December 29 and close on January 11. It also announced an agreement with the German wholesaler METRO AG for an estimated value of up to $ 1 billion.
Bajaj Auto: On Tuesday said that it has signed a memorandum of understanding (MoU) with the Maharashtra government to establish a manufacturing unit in Chakan at an estimated cost of ₹650 crore. The facility is expected to begin production in 2023.
Mahindra and MahindraJP Morgan has applied for repayment of a 40 billion Korean won loan from Mahindra & Mahindra’s troubled foreign arm, SsangYong Motor Company, but the South Korean automaker has expressed inability to repay the amount now .
DHFL: Oaktree Capital, which is in a close race to acquire Dewan Housing Finance Limited (DHFL), has written to the mortgage lender’s lenders urging fair treatment in the process of evaluating their offer.
Vodafone idea: It has signed a pact with the platform for publishing stories Firework, which will give subscribers of the telecommunications company access to content in the form of short video stories. This partnership comes at a time when telecommunications companies are testing different services to attract their customers and prevent them from switching.
Finance Manappuram: He said he has raised ₹400 million rupees by issuing bonds on a private placement basis. The Management and Financial Resources Committee of the company’s board of directors has approved the allocation of 4,000 non-convertible, guaranteed, repayable and rated bonds ₹400 crore, the company said in a regulatory filing.
Shipping Corp: The Finance Ministry started on Tuesday the divestment process of the government’s total 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 ₹Rs 2,500 crore from the stake sale.
AstraZeneca: India is likely to approve the Oxford / AstraZeneca coronavirus vaccine for emergency use next week after its local manufacturer submitted additional data requested by authorities, Reuters reported citing two sources.
Punjab and Sind Bank: The Center, in a first movement of this type, has issued ₹Rs.5.5 billion worth of zero coupon bonds to recapitalize Punjab and Sind Bank and allowed it to park the paper in its hold-to-maturity (HTM) category at face value rather than the discounted market rate. Zero coupon bonds are interest-free and trade at a discount to their face value.
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