L&T stock price rises as the company received several contracts

The Markets Today in a nutshell

• Domestic benchmark indices ended on a positive note.
• The Sensex and the Nifty hit record high levels today amid falling crude oil and U.S. dollar index. Oil & gas, autos and FMCG stocks were in demand. Meanwhile, metals, financial services and IT stocks were under pressure.

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News you could use

? HeroMotorCorp stock price gains as company announces price rise
The auto maker decided to increase ex-showroom prices of its motorcycles and scooters, effective from December 1, 2022. The price increase will be up to Rs 1,500 and the exact quantum of increase will vary by specific models and markets. This will help the company offset any further cost impact, and drive improvement in margins.

? L&T stock price rises as the company received several contracts
The EPC company announced that the hydrocarbon division of L&T Energy business has been awarded significant contracts. The company said that the business has received India’s first contract for decommissioning of offshore facilities from British Gas Exploration and Production India (BGEPL, part of Shell Plc Group of companies).

? ABSL announced partnership with 8 Digital-First lifestyle
TMRW, an Aditya Birla Group venture, has announced partnership with 8 Digital-First lifestyle brands. TMRW has struck partnerships with the new-age founders within few months of the launch of the venture. It is on a path to create a leading technology-led digital first House of Brands business over the next several years. With these 8 brands on board, TMRW has achieved a revenue run-rate of Rs 700 crore plus and is on a path to cross an annual revenue rate of Rs 1500 crore plus in the next 12 months.

News from the IPO world?

• IPO bound OYO’s EBITDA rises 8 times despite net loss of Rs. 333 crores
• Dharmaj IPO opens today for subscription
• Pharma and diagnostics investor Conviction Life files for IPO

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