TATA Motors to partially divest its stake in TATA Technologies via IPO

The Markets Today in a nutshell

• Domestic benchmark indices ended on a positive.
• Favourable domestic economic numbers and positive global cues underpinned investors sentiment. PSU banks soared while IT shares witnessed value buying. However, realty, consumer durables and FMCG shares declined.

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News you could use

? TATA Motors to partially divest its stake in TATA Technologies via IPO
Tata Motors stated that it had approved the partial divestment of its equity shares in subsidiary Tata Technologies via an initial public offer ( IPO). The auto major said it will increase prices of its commercial vehicle range by up to 2 percent from January to offset the impact of rising input costs.

? NCC share price up 5 as credit rating firm upgrades rating
India Ratings & Research has upgraded the long term rating of fund based working capital and non-fund based limits of NCC to lNDA+/Stable/lND A1 while short term rattings were affirmed. The ratings on the term loans have been withdrawn as the company has paid the term loans in full.

? BGR Energy Systems hits upper circuit on new orders from ONGC
The scrip hit 20 percent upper circuit after the firm received orders worth Rs 330 crore from Indian Oil Corporation. The order includes construction of civil and structural works in Panipat refinery project complex. The contract completion period is 18 months.

News from the IPO world?

• Droneacharya Aerial IPO sees massive demand, subscribed 22.94 times
• Kfin Technologies IPO set to open on December 19, to raise Rs. 1500 crore
• Landmark Cars IPO opens today

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