Economy

Today’s stocks in news – Reliance Industries, ITC, TVS Motor, and Paytm

The Sensex and Nifty have surged for the third trading session in a row.

The Sensex and Nifty have surged for the third trading session in a row. Nifty has created a modest negative candle with a long lower shadow on the charts, according to Nagaraj Shetti, Technical Research Analyst at HDFC Securities. “This indicates the emergence of a long-legged doji candle pattern from a technical standpoint.” After a reasonable up-move and at important resistances, a Doji formation normally indicates a downward correction from the highs,” he added. Dalal Street will be focusing for vital macro data (CPI & IIP) on the fundamental side, according to Ajit Mishra, VP – Research, Religare Broking, which may provide further direction to the markets.

Today’s stocks in news – Reliance Industries, ITC, TVS Motor, and Paytm

ITC: FMCG powerhouse ITC may be back in action today, as management stated that the business will conduct a ‘Institutional Investors and Financial Analysts Day’ on December 14 next week. The stock had climbed by 4% the day before.

Reliance Industries: Mukesh Ambani’s Reliance Industries Ltd said that the payment due on the Second and Final Call of the partly paid shares on 41.90 crore equity shares has been received. This amount accounts for 99 percent of the total. The investors have now received fully paid-up equity shares from the company.

Star Health and Allied Insurance Company, backed by ace investor Rakesh Jhunjhunwala, will go public today. The IPO did not receive a full subscription during its three-day first share sale.

The RBI has given Paytm Payments Bank Scheduled Bank status, according to One 97 Communications, Paytm’s parent firm. RFPs issued by the government and other big firms, primary auctions, fixed-rate and variable-rate repos, reverse repos, and the Marginal Standing Facility are all options available to the Bank.

Dr Reddy’s Laboratories, a pharmaceutical business, just launched Valsartan Tablets in the United States. In the United States, the same is estimated to fetch $150 million.

HFCL: The company has raised over Rs 600 crore through qualified institutional placements of its equity shares. Investors were given 8.72 crore shares at a price of Rs 68.75 per share, a Rs 3.58 markdown from the stock price.

TVS Motor: In an effort to grow its operations in Central America, the carmaker disclosed on stock exchanges that it has collaborated with Active Motors SA, a Grupo Q subsidiary, for Nicaragua and Costa Rica. Active SA Motors will work with TVS Motor Company in Nicaragua and Costa Rica to open three flagship locations and about 50 dealerships in phases.

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