Here are some of the major updates that could move the markets tomorrow:
Government gets ₹5,001 crore dividend from ONGC
The government has received around ₹5,001 crore as dividend from Oil & Natural Gas Corporation (ONGC). This takes the total dividend receipt from all Central Public Sector Enterprises (CPSEs) in this financial year (FY23) to ₹23,797 crore. CPSEs are required to pay a minimum annual dividend of 30% of profit after tax (PAT) or 5% of net worth, whichever is higher.
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Mankind Pharma acquires majority stake in Upakarma Ayurveda
Mankind Pharma has acquired a majority stake in Upakarma Ayurveda, which manufactures and sells ayurvedic and herbal products. The pharma company’s decision to invest will empower Upakarma Ayurveda to develop a wider range of products and offerings. Mankind Pharma acquired the ayurvedic solutions firm through one of its subsidiaries.
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TCS launches quantum computing lab on Amazon Web Services
Tata Consultancy Services (TCS) has partnered with Amazon Web Services (AWS) to launch a quantum computing lab on the Amazon platform. The platform will help enterprises develop & test business solutions and accelerate the adoption of quantum computing. TCS will help customers explore and co-create new use cases of quantum computing to tackle business challenges that defy the capabilities of conventional technologies.
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EaseMyTrip introduces special program for its elite customers
EaseMyTrip announced the introduction of EMTPRO— an invite-only, special program for its elite customers. Under this program, EaseMyTrip’s customers will be enrolled in a ‘Refer Now & Earn Forever’ program. Users will get exciting cash-backs on flights, hotels, holidays, buses, and train bookings for one year by referring a new user to book from the EaseMyTrip website or mobile application.
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Bank credit grows to 17.2% in September: RBI
The Reserve Bank of India (RBI) released quarterly statistics on deposits and credit on Monday. It highlighted bank credit growth to 17.2% on an annual basis in September from 14.2% a quarter ago. The credit growth remained broad-based with all population and bank groups recording double-digit annual growth. Private sector banks have been outpacing public sector banks, foreign banks, and regional rural banks in deposit mobilisation.
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Zydus Lifesciences gets USFDA approval for Levothyroxine Sodium injection
Zydus Lifesciences Ltd. has received tentative approval from the US Food & Drug Administration (USFDA) to market Levothyroxine Sodium injection in the American market. The injection is used to treat myxedema coma or severe hypothyroidism. The pharma company will manufacture the drug at its injectable facility in Vadodara, Gujarat.
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Signature Global gets SEBI approval for its ₹1,000 crore IPO
Realty firm Signature Global (India) Ltd has received approval from markets regulator SEBI for its initial public offer (IPO). The company will raise up to ₹1,000 crore to clear debt and land acquisition. As per the DRHP, the IPO will comprise a fresh issue of equity shares worth up to ₹750 crore and an Offer for Sale (OFS) of up to ₹250 crore. Signature Global primarily focuses on affordable and mid-housing segments.
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Hero MotoCorp to revise prices of its two-wheelers
Hero MotoCorp Ltd will raise the prices of its motorcycles and scooters by up to ₹1,50, with effect from December 1, 2022, due to inflationary cost pressures. “The upward revision of the prices of our two-wheelers has been necessitated due to overall inflationary costs. We will continue to provide innovative financing solutions to cushion the impact on the customers,” said Niranjan Gupta, Chief Financial Officer.
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NBCC gets ₹271Cr order in stalled projects of Amrapali Group
NBCC (India) Ltd secured work orders worth ₹271.62 crore in projects of erstwhile realty firm Amrapali Group. It got an order of ₹42.44 crore for the construction of balance works of Amrapali Corporate Hub at IMT Manesar, Gurugram. NBCC got another order of ₹229.18 crore for special repair and upgradation works of Amrapali Projects at Noida & Greater Noida.
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Bajaj Finance to acquire 40% in Snapwork Tech
Bajaj Finance will acquire up to 40% stake in Mumbai-based Snapwork Technologies for an all-cash consideration of up to ₹93 crore. The transaction is expected to be completed prior to December 31, 2022. Snapwork Technologies is engaged in developing, consulting, marketing, and implementation of software technology and allied products.