Categories: Miscellaneous

TVS plans to launch Euro-5 two-wheelers in Turkey

Opening Bell:

SGX Nifty is up by 96.5 points in the early morning trade, indicating a positive opening for Indian stock market.

Asia-Pacific markets traded higher on Wednesday, after stocks on Wall Street saw a second day of gains on an inflation print that came in cooler than expected. The Japanese Nikkei is up by 0.70 percent. South Korea’s Kospi is down by 0.89 percent. Hong Kong’s Hang Seng jumped by 0.48 percent in the early morning trades.

US stocks rose on Tuesday after an unexpectedly small consumer price increase buoyed optimism that the Federal Reserve could soon dial back its inflation-taming interest rate hikes, but concerns remained the central back could stay aggressive. S&P 500 was up 0.73 percent whereas Nasdaq composite added 1.09 percent.

Stocks News:

?One97 Communications, the parent entity of payments solutions firm Paytm, on December 12 approved a share buyback plan of Rs 850 crore, priced at Rs 810 per share. At the maximum buyback price and the maximum buyback size, the indicative maximum number of equity shares bought back would be 10,493,827.

?Ultra Tech Cements has commissioned of 1.9-MTPA greenfield clinker backed grinding capacity at Pali cement works, Rajasthan. The company, along with its subsidiary, now has 16.25 MTPA cement capacity in Rajasthan over 5 separate plant locations and its total cement manufacturing capacity in India stands at 121.35 MTPA.

?General Atlantic Singapore Fund Pte Ltd has sold Rs 564 crore stake in the company via open market transactions. The fund offloaded 31.15 lakh shares in IIFL Wealth at an average price of Rs 1,810.09 per share. However, Capital Income Builder bought 30.43 lakh shares in the company at an average price of Rs 1,810 per share.

?TVS plans to launch Euro-5 two-wheelers in Turkey. The company will further strengthen its presence in Turkey with products like TVS Jupiter, TVS NTORQ Race Edition, TVS Raider and TVS Apache RTR 200 4V which will be Euro-5 compliant.

?Foreign institutional investors (FIIs) have sold shares worth Rs 138.81 crore, while domestic institutional investors (DIIs) bought shares worth Rs 695.60 crore on December 12, as per provisional data available on the NSE.

Domestic and International Events

  • Oil rose to more than $80 a barrel on Tuesday as investors bought up risk assets after US data pointed to slowing inflation. The market was also buoyed by concern about supply disruptions, including the ongoing shutdown of the Canada-to-United States Keystone crude pipeline following a massive leak.
  • US consumer prices rose less than expected for a second straight month in November, resulting in the smallest annual increase in inflation in nearly a year and giving the Federal Reserve cover on Wednesday to start scaling back the size of its interest rate increases.
  • US central bankers began their last policy-setting meeting of the year Tuesday with data suggesting inflation is finally cooling, allowing them to slow their interest-rate hikes into next year and, traders are now betting, stop short of 5% by March.
  • The Nifty 50 stock index may gain as much as 5.9 percent from its current 52-week high and touch 20,000 next year, driven by inflows from foreign institutional investors, BofA Securities said.

Key Equity Indices

EMERGING LATEST % 1D
Hang Seng 19,596 0.7 %
Shanghai Composite 3,176 (0.1) %
DEVELOPED LATEST % 1D
Dow Jones 34,109 0.3 %
DAX 14,498 1.3 %
FTSE 100 7,503 0.8 %
Nikkei 27,955 0.4 %
Straits Times 3,271 1.0 %
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