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<ul><li>At 7:45 am, the SGX Nifty was up 0.12%, indicating a green start for Nifty50.</li><li>Here's a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to begin on a subdued note on Thursday, led by mixed cues from the global markets. At 7:45 am, the SGX Nifty was up 0.12%, indicating a green start for Nifty50. However, the <a href="https://www.businessinsider.in/stock-market/news/us-stocks-retreat-from-record-highs-as-stimulus-deadlock-continues/articleshow/79653087.cms">US stocks reversed to end lower</a> as a deadlock in stimulus negotiations continued. The Dow Jones Industrial Average closed 0.35% lower, and the S&amp;P 500 was down 29 points. These are the stocks to watch out for during the trading session today: IRCTC The government is planning to sell up to 20% stake in Indian Railway Catering and Tourism Corp (IRCTC) through an Offer for Sale (OFS) which opens for subscription on Thursday. The floor price for the offer has been set at ₹1,367. The share price of IRCTC closed 2% lower on Wednesday. Mahindra &amp; Mahindra The company informed exchanges that its operations in the automotive sector would be affected by the global supply shortage of micro-processors (semiconductors) used in electronic control units (ECUs). The company said this would result in a reduction in production and sales volume in the last quarter of FY 2020-2021. The share price of Mahindra &amp; Mahindra closed flat on Wednesday. TCS The ₹16,000-crore share buy-back programme of India's largest IT services firm Tata Consultancy Services (TCS) will commence on December 18 and close on January 1. Last month, TCS shareholders had approved a proposal to buy-back up to 5.33 crore equity shares of the company at ₹3,000 per scrip for an aggregate amount not exceeding ₹16,000 crore. The share price of TCS closed 0.53% lower on Wednesday. Maruti Suzuki India India's largest carmaker Maruti Suzuki said it would increase prices of its vehicles from January to offset the adverse impact of rising input costs. The share price of Maruti Suzuki India closed 0.70% lower on Wednesday. Pfizer India Canada's health regulator has approved Pfizer's COVID-19 vaccine, days ahead of possible approval in the US. Canada is set to receive up to 249,000 doses this month and 4 million doses by March. The share price of Pfizer India closed 0.29% lower on Wednesday. ICICI Securities The offer for sale for non-retail investors gets a demand of 4.4 times the shares of the offer. Portion for retail investors will be open today for auction. The share price of ICICI Securities closed 4% higher on Wednesday. L&amp;T Tech L&amp;T Technology Services bags a multi-year order worth over $100 million from a global oil &amp; gas company. Under this five-year deal, the company will be the primary engineering partner to support two of their integrated refining and chemicals manufacturing facilities in the USA. The share price of L&amp;T Tech closed 2% higher on Wednesday. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/facebook-hit-with-2-massive-antitrust-lawsuits-from-the-ftc-and-46-states-seeking-to-spin-off-instagram-and-whatsapp/articleshow/79652195.cms" data-type="tilCustomLink">Facebook hit with 2 massive antitrust lawsuits from the FTC and 46 states seeking to spin off Instagram and WhatsApp</a> <a href="https://www.businessinsider.in/stock-market/news/airbnb-prices-ipo-at-68-per-share-will-raise-3-5-billion/articleshow/79653812.cms" data-type="tilCustomLink">Airbnb prices IPO at $68 per share, will raise $3.5 billion</a>

Top stocks to watch — IRCTC, M&M, TCS, Maruti Suzuki, Pfizer India, ICICI Securities, and others

<ul><li>At 7:40 am, the SGX Nifty was up 0.12%, indicating a positive start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start on a stronger note on Wednesday, led by positive cues from the global markets. At 7:40 am, the SGX Nifty was up 0.12%, indicating a positive start for Nifty50. The <a href="https://www.businessinsider.in/stock-market/news/dow-jumps-338-points-as-mitch-mcconnell-pledges-to-get-stimulus-deal-done/articleshow/79749308.cms">US stocks extended earlier gains</a> on Tuesday after Senate Majority Leader Mitch McConnell pledged to get a fiscal stimulus deal done before Congress takes a break for the holidays. The Dow Jones Industrial Average closed 337 points higher, and the S&amp;P 500 was up 1.29%. These are the stocks to watch out for during the trading session today: IDBI Bank IDBI Bank has set the floor price at ₹40.63 per share for its proposed qualified institutional placement (QIP) and downsized the fundraise by two-thirds to ₹2,000 crore. The bank’s board at its meeting on October 29 had proposed to raise ₹6,000 crore by issuing shares through QIP. Punjab National Bank Punjab National Bank (PNB) has set the floor price for its proposed QIP of ₹7,000 crore at ₹37.35 per share. PNB committee would meet on Friday to consider and determine the issue price for the equity shares, including a discount, if any, to be allotted to Qualified Institutional Buyers, pursuant to the QIP (qualified institutional placement). Indian Bank The state-owned Indian Bank declared the account of IL&amp;FS Financial Services (IFIN) as fraud with outstanding dues of ₹408 crore, and reported it to the Reserve Bank of India (RBI). Axis Bank Axis Bank has clarified that it has complied with its underwriting practices and approval processes for any exposure taken in relation to SREI Equipment Finance and SREI Infra Finance. SREI Group’s outstanding dues to the bank stand at ₹800 crore. Embassy Office Parks REIT Embassy Office Parks REIT plans to raise $500 million (around ₹3,700 crore) through the sale of units to institutional investors through QIP to fund its acquisition of commercial asset Embassy TechVillage in Bengaluru. Mahindra &amp; Mahindra (M&amp;M) Mahindra &amp; Mahindra (M&amp;M) said it would increase the price of its passenger and commercial vehicles, across models from January 1. PVR PVR to consider fundraising via various methods at its board meeting on December 18. Mrs Bectors Food Specialities Mrs Bectors Food Specialities IPO sees an overall subscription of 3.72 times on the first day of bidding. JSPL Jindal Steel and Power Ltd (JSPL) has appointed Hemant Kumar as the Chief Financial Officer (CFO) and key managerial personnel from Tuesday. SEE ALSO:<a href="https://www.businessinsider.in/business/corporates/news/interview-home-recipes-that-are-set-for-a-7-million-ipo-mrs-bectors-food-is-no-cookie-cutter/articleshow/79721783.cms" data-type="tilCustomLink"> INTERVIEW: Home recipes that are set for a $73 million IPO⁠— Mrs Bector’s Food is no cookie cutter</a> <a href="https://www.businessinsider.in/thelife/personalities/news/facebook-ceo-mark-zuckerberg-and-reliance-industries-mukesh-ambani-spoke-but-had-no-chemistry/articleshow/79739547.cms" data-type="tilCustomLink">Zuckerberg spoke to Ambani but there was no chemistry — even with a multi-million dollar partnership between them</a>

Top stocks to watch — IDBI Bank, PNB, Axis Bank, M&M, Embassy REIT, PVR, and others

<ul><li>The 30-share BSE index was trading 17.33 points lower, and the broader NSE Nifty was trading flat on Thursday at 10:20 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian equity benchmark indices were trading flat in early trade on Thursday, tracking losses in index majors HDFC twins, ICICI Bank and Infosys amid negative cues from global markets. The 30-share BSE index was trading 17.33 points lower, and the broader NSE Nifty was trading flat on Thursday at 10:20 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Fin Serv </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ultra Chem Cement </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharti Airtel </td></tr></tbody></table>*as of November 19, 10:15 am These are the top stocks in news today. TCS up over 2% The shares of Tata Consultancy Services (TCS) soared over 2% after its shareholders approved its ₹16,000 crore share buyback plan. Last month the board of TCS approved a proposal to buyback upto 5.33 crore equity shares at a price of ₹3,000/share. BPCL gains over 3% The shares of BPCL gained over 3% after Anil Agarwal controlled Vedanta Group said that it had submitted an expression of interest (EoI) for buying the government’s 53% stake in oil retailer Bharat Petroleum (BPCL). The shares of Vedanta Group also gained over 5% in an otherwise flat market. Hero MotoCorp leaps 5% The shares of world’s largest two-wheeler maker Hero MotoCorp were up nearly 5% after the company informed stock exchanges that it sold more than 14 lakh units of motorcycles and scooters in retail sales during the festive season. SpiceJet trades 10% higher The shares of cargo major SpiceJet gained over 10% after the DGCA data showed that its passenger load has increased from 73% in September to 74% in October. SpiceJet holds 13.4% market share in Indian skies. Lakshmi Vilas Bank locked in 20% lower circuit The shares of Lakshmi Vilas Bank were locked in a 20% lower circuit for the second day in a row. According to the bulk deal data available on the BSE, Capri Global Holdings offloaded a total of 20,55,161 shares of LVB at an average price of ₹12.40 apiece. This took the total deal value to ₹2.54 crore. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/dow-tumbles-345-points-as-fresh-lockdown-measures-overshadow-vaccine-progress/articleshow/79292917.cms" data-type="tilCustomLink"> Dow tumbles 345 points as fresh lockdown measures overshadow vaccine progress</a> <a href="https://www.businessinsider.in/science/health/news/pfizers-new-covid-19-vaccine-is-95-effective-and-the-only-severe-side-effect-to-worry-about-is-fatigue-according-to-the-final-results/articleshow/79284286.cms" data-type="tilCustomLink">Pfizer's new COVID-19 vaccine is 95% effective and the only severe side-effect to worry about is fatigue, according to the final results</a>

Top stock movers — TCS, BPCL, Hero Moto, SpiceJet, Lakshmi Vilas Bank, Tata Steel, M&M, and others

<ul><li>At 7:40 am, the SGX Nifty was up 0.50%, indicating a positive start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to have a slow start on Tuesday, led by mixed cues from the global markets. At 7:40 am, the SGX Nifty was up 0.50%, indicating a positive start for Nifty50. However, on Monday, the US stocks ended low as investors booked profits following a sharp rally in recent weeks that led to the benchmark’s best November ever. The Dow Jones Industrial Average closed 271 points lower, and the S&amp;P 500 was down 0.46%. These are the stocks to watch out for during the trading session today: Dr Reddy’s Laboratories Dr Reddy’s Laboratories inked a pact with Glenmark Pharmaceuticals to acquire its select anti-allergy brands in Russia, Ukraine, Kazakhstan and Uzbekistan. The acquired brands represent two types of products — mometasone mono-product and combination of mometasone with azelastine, which is indicated for the treatment of seasonal and perennial allergic rhinitis, it added. The company, however, did not disclose financial details. Indiabulls Housing Finance Indiabulls Housing Finance further sold a portion of its stake in OakNorth Holdings to raise approximately ₹93 crore. Hindustan Construction Company Hindustan Construction Company (HCC), in a joint venture with Vensar Constructions Company (VCCL), has received two separate contracts worth ₹236 crore from the Northeast Frontier Railway for the construction of single line BG tunnels Lot 14A and Lot 15A on a 51.38-km long Bairabi-Sairang New BG Rail line in Manipur. M&amp;M, Tata Motors, Bajaj Auto, Maruti Suzuki, TVS Motor, Hero MotoCorp and other auto stocks M&amp;M, Tata Motors, Bajaj Auto, Maruti Suzuki, TVS Motor, Hero MotoCorp and other auto stocks will be in focus during the trade today. The companies are slated to report their November sales data today, and according to <a href="https://www.businessinsider.in/business/auto/news/heres-what-to-expect-from-maruti-mm-hero-bajaj-auto-in-november-car-bike-sales/articleshow/79489474.cms">Nirmal Bang estimates, </a>a strong show is expected led by strong festive demand. TVS Motor TVS Motor is set to acquire 100% stake in advanced fleet management solutions provider Intellicar Telematics for a cash consideration of ₹15 crore. SRF SRF’s resin plant, set-up in Thailand by its wholly-owned subsidiary has been commissioned and capitalised at the cost of $19 million. Premier Explosives Premier Explosives has bagged a contract worth ₹14 crore from Ministry of Defence for the supply of 26 mm Chaffs. Punjab National Bank Punjab National Bank’s base rate cut by 15 basis points to 8.65% from 8.8%, effective from December 1. Future Consumer Bennett, Coleman &amp; Company Limited (BCCL) reduced its stake in Future Consumer to 4.25% from 6.33% via open market transaction. Fortis Healthcare Aberdeen Standard Investments Ltd increased its stake in Fortis Healthcare to 5.02% from 4.96% via open market purchases. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/heres-what-to-expect-from-maruti-mm-hero-bajaj-auto-in-november-car-bike-sales/articleshow/79489474.cms" data-type="tilCustomLink"> November auto sales estimates — Here’s what to expect from Maruti, M&amp;M, Hero, Bajaj Auto, and other automakers</a> <a href="https://www.businessinsider.in/india/news/centre-invites-agitating-farmer-unions-for-talks-on-december-1-two-days-ahead-of-a-scheduled-meeting/articleshow/79502391.cms" data-type="tilCustomLink">Centre invites agitating farmer unions for talks on December 1, two days ahead of a scheduled meeting</a>

Top stocks to watch — Dr Reddy’s, Indiabulls Housing, M&M, Tata Motors, Bajaj Auto, Maruti, Hero Moto, PNB, and others

<ul><li>The 30-share BSE index was trading 69 points lower, and NSE Nifty was trading flat at 12,977 points.</li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian equity benchmark indexes opened on a tepid note on Friday, tracking subdued cues from global markets. The 30-share BSE index was trading 69 points lower, and NSE Nifty was trading flat at 12,977 points. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NTPC </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GAIL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td></tr></tbody></table>*as of November 27, 10:10 am These are the top stocks in news today. AstraZeneca Pharma India down nearly a percent AstraZeneca Pharma India trades in red after <a href="https://www.businessinsider.in/science/news/astrazeneca-will-likely-re-test-its-covid-19-vaccine-ceo-says-after-admitting-an-error-in-the-first-trial-that-may-have-skewed-results/articleshow/79434619.cms">AstraZeneca CEO</a> said it is likely to retest its COVID-19 vaccine after an error in the first trial that may have skewed results. Zydus Cadila trades 6% higher The shares of Zydus Cadila soared nearly 6% after the <a href="https://m.economictimes.com/industry/healthcare/biotech/zydus-cadila-to-apply-for-phase-3-trials-in-december-hopes-to-launch-vaccine-by-march/amp_articleshow/79437944.cms">news reports</a> surfaced that the company aims to apply for phase-3 trials in December and will launch the vaccine by March if it works out. Future Retail locked in 5% lower circuit for the second day The shares of Future Retail (FRL) were locked in a 5% lower circuit for the second day in a row. In a <a href="https://www.businessinsider.in/stock-market/news/future-retail-tells-the-bourses-that-not-every-stage-of-the-amazon-proceedings-would-be-material-event-for-disclosure/articleshow/79438955.cms">recent development,</a> Future Retail has informed the bourses that with Amazon taking the case back to Singapore court, not every stage of the proceeding is a “material event for disclosure.” Earlier this week, the National Stock Exchange (NSE) had warned FRL that it risked regulatory action for not making timely disclosures about the legal battle with Amazon over the disputed asset sale. DHFL locked in 5% upper circuit The shares of debt-ridden DHFL were locked in a 5% upper circuit for the ninth day in a row — hitting the 52-week high— after the company trimmed down its losses in the second quarter. Mahindra &amp; Mahindra trades over a percent higher Mahindra &amp; Mahindra’s (M&amp;M) gained over a percent after its wholly-owned subsidiary, Mahindra Holdings (MHL) has decided to sell its 100% stake of Mahindra First Choice Services (MFCS) and Auto Digitech (ADPL) to TVS Automobile Solutions (TASL). Indraprastha Gas, Gujarat Gas, Mahanagar Gas and other gas distribution stocks rally The shares of Indraprastha Gas, Gujarat Gas, Mahanagar Gas and other gas distribution stocks rallied over 10% after oil regulator Petroleum and Natural Gas Regulatory Board (PNGRB) notified regulations for unified gas transmission tariff structure. The tariffs will be applicable based on two-zone structure related to distance from the source of gas. Indraprastha Gas was trading 13% higher, Gujarat Gas was up 6%, and Mahanagar Gas gained nearly 12%. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/checkout-top-electric-cars-price-from-delhi-mumbai-chennai-bengaluru-kolkata/articleshow/79429631.cms" data-type="tilCustomLink">From Tata Nexon EV and MG ZS EV to Hyundai Kona Electric — here’s how much top electric cars cost in India</a> <a href="https://www.businessinsider.in/science/news/astrazeneca-will-likely-re-test-its-covid-19-vaccine-ceo-says-after-admitting-an-error-in-the-first-trial-that-may-have-skewed-results/articleshow/79434619.cms" data-type="tilCustomLink">AstraZeneca will likely retest its COVID-19 vaccine, CEO says after admitting an error in the first trial that may have skewed results</a>

Top stock movers — Future Retail, AstraZeneca, Cadila, DHFL, M&M, Indraprastha Gas, Gujarat Gas, Mahanagar Gas, and others

<ul><li>closerAt 7:45 am, the SGX Nifty was up 0.10%, indicating a tepid start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to begin on a flat note on Thursday, led by mixed cues from the global markets. The Indian markets ended at record highs on Wednesday, with Nifty inching to the 14,000 mark. At 7:45 am, the SGX Nifty was up 0.10%, indicating a tepid start for Nifty50. On Wednesday, the <a href="https://www.businessinsider.in/stock-market/news/us-stocks-end-higher-as-600-stimulus-checks-set-to-arrive-this-week/articleshow/80037170.cms">US stocks closed higher</a> as $600 stimulus checks were set to hit the bank accounts of millions of Americans later this week, according to Treasury Secretary Steven Mnuchin. The Dow Jones Industrial Average closed 0.24% higher, and the S&amp;P 500 was up 0.13%. These are the stocks to watch out for during the trading session today: Tata Motors, Maruti, M&amp;M, Hero Motocorp, Bajaj Auto and other auto stocks Tata Motors, Maruti, M&amp;M, Hero Motocorp, Bajaj Auto and other auto stocks will be in focus during trade today. The auto companies are slated to report their <a href="https://www.businessinsider.in/business/auto/news/heres-what-to-expect-from-maruti-mm-hero-bajaj-auto-and-other-automakers-in-december-month-2020-auto-sale/articleshow/80021695.cms">monthly sales</a> for December tomorrow . Tata Steel Tata Steel CEO TV Narendran in his outlook for 2021 <a href="https://www.business-standard.com/article/companies/despite-covid-19-pandemic-tata-steel-bullish-on-fy22-demand-in-india-120123100070_1.html">said</a> the company is optimistic about demand for steel in India. And, the steel demand is expected to grow proportional to or higher than the GDP growth in FY22. Vedanta Vedanta emerged as the highest bidder for Radhikapur west coal block in Odisha. The mine has total reserves of 312 million tonnes and an approved per annum extraction capacity of 6 million tonnes. Adani Green Energy Adani Green Energy said it had commissioned a 100 megawatt (MW) solar power project at Khirasara in Gujarat. V-Mart Retail V-Mart Retail informed investors that it had opened four new stores, three in the state of Uttar Pradesh, one in the state of Jharkhand, taking its total number of stores in the country to 274. Shriram Transport Finance Shriram Transport Finance has approved and allotted senior secured rated, listed redeemable non-convertible debentures (NCD) of the face value of ₹10 lakh each on a private placement basis. Dewan Housing Finance Corporation (DHFL) Kapil Wadhawan has yet again come up with a revised proposal for acquiring Dewan Housing Finance Corporation (DHFL). In a letter to RBI, DHFL administrator R Subramaniakumar and the Committee of Creditors (CoC), the erstwhile promoter of the bankrupt NBFC said that he would make an upfront payment of ₹9,000 crore in cash and ₹31,000 crore will be paid within a period of seven years in equal annual instalments with 8.5% per annum interest. Indian Bank Indian Bank said it had raised ₹392 crore through perpetual bonds. The bank has further raised tier 1 capital funds through a private placement of Basel III compliant AT-1 perpetual bonds aggregating to ₹392 crore, the public sector bank said in a regulatory filing. Fortis Healthcare The rating agency ICRA has upgraded the long-term rating for the line of credit of Fortis Healthcare’s subsidiaries — SRL Limited and SRL Diagnostics Private Limited. SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/mitch-mcconnell-says-the-senate-will-consider-trumps-demand-for-2000-stimulus-checks-but-rejects-initial-vote/articleshow/80017236.cms" data-type="tilCustomLink">Mitch McConnell says the Senate will consider Trump's demand for $2,000 stimulus checks but rejects initial vote</a> <a href="https://www.businessinsider.in/thelife/news/american-airlines-just-completed-the-boeing-737-maxs-first-passenger-flight-in-the-us-since-march-2019/articleshow/80016117.cms" data-type="tilCustomLink">American Airlines just completed the Boeing 737 Max's first passenger flight in the US since March 2019</a> <a href="https://www.businessinsider.in/india/news/new-strain-of-uk-covid-19-virus-is-a-lot-more-contagious-warns-indias-health-ministry/articleshow/80011618.cms" data-type="tilCustomLink"></a> <a href="https://www.businessinsider.in/india/news/new-strain-of-uk-covid-19-virus-is-a-lot-more-contagious-warns-indias-health-ministry/articleshow/80011618.cms" data-type="tilCustomLink">The new strain of COVID-19 is a lot more contagious, warns India's Health Ministry</a>

Top stocks to watch — Tata Steel, Vedanta, Adani Green, Tata Motors, Maruti, M&M, DHFL, V-Mart, Indian Bank, and others

<ul><li>The 30-share BSE index was trading 239 points lower, and the broader NSE Nifty was down 0.52% on Thursday at 10:00 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>The Indian equity benchmark indexes started on a weak note on Thursday, tracking losses in financial stocks ahead of Finance Minister Nirmala Sitharaman’s press conference. The 30-share BSE index was trading 239 points lower, and the broader NSE Nifty was down 0.52% on Thursday at 10:00 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shree Chem </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sun Pharma </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td></tr></tbody></table>*as of November 12, 10:06 am These are the top stocks in news today. Indiabulls Housing Finance leaps 6% The shares of Indiabulls Housing Finance gained over 6% after it reported an 18.5% jump to ₹323.20 crore in its quarter-on-quarter net profit. However, its total income fell 25.9% year-on-year to ₹2,581 crore during the quarter under review. Happiest Minds Tech up over 1% The shares of Ashok Soota backed Happiest Minds Tech gained over a percent after it entered into a strategic partnership with Bengaluru-based lo-Tahoe to provide their clients with effective data discovery and governance solutions. Ashoka Buildcon zooms 6% The shares of Ashoka Buildcon zoomed 6% in a weak market after the highways builder reported a six-fold jump in consolidated profit after tax (PAT) to ₹70.42 crore for the quarter ended September 30. Aurobindo Pharma up over 5% Pharma giant Aurobindo Pharma shares soared over 5% after it reported a 26% increase in consolidated net profit to ₹805.65 crore in the second quarter ended September 30. The company’s consolidated total revenue from operations during the period under review stood at ₹6,483.44 crore as against ₹5,600.47 crore in the corresponding quarter last year. Hindalco Industries trade 3% higher The shares of Hindalco Industries were up 3% after brokerage reiterated a ‘buy’ rating citing a sharp turnaround at Novelis, the American subsidiary of Hindalco. Edelweiss Securities has set a target price of ₹250, and IIFL has set a target price of ₹212. Coal India falls over 3% The shares of state-run Coal India fell over 3% after it reported a 16% fall in its consolidated net profit to ₹2,951 crore in the second quarter ending September 30. Although, the company’s revenue from sales was at ₹19,484 crore during the quarter under review as against ₹18,986 crore in the year-ago period. SEE ALSO: <a href="https://www.businessinsider.in/policy/economy/news/indian-government-approves-the-pli-scheme-for-10-sectors/articleshow/79172901.cms" data-type="tilCustomLink">Indian government approves the Production Linked Incentive scheme for 10 sectors worth ₹2 lakh crore</a> <a href="https://www.businessinsider.in/business/corporates/news/spicejet-shrink-its-losses-to-112-59-crore-in-the-second-quarter-ended-september-30/articleshow/79172678.cms" data-type="tilCustomLink">Spicejet is losing one rupee where it was losing four thanks to cheaper fuel and cut in rentals</a>

Top stock movers — Hindalco, Indiabulls Housing, Happiest Minds Tech, Ashoka Buildcon, Aurobindo Pharma and others

<ul><li>At 7:49 am the Sgx Nifty was trading 0.60% higher.</li><li>Here’s a list of stocks to watch for in trade today. </li><li>Check out the latest news and updates on Business Insider. </li></ul>A historic quarterly GDP contraction at 23.9% could weigh on the market sentiment but watch out stock-specific newsflow. The global market has also shown mixed sentiments. At 7:49 am the SGX Nifty was trading 0.60% higher. US indices ended mixed on Monday as Wall Street wrapped up its best August in more than 30 years. The Dow Jones Industrial Average fell 0.78%. However, the Nasdaq Composite Index rose 0.68%. These are the stocks to watch out for during the trading session on September 1: Larsen &amp; Toubro (L&amp;T) Larsen &amp; Toubro (L&amp;T) on Monday announced the closure of the strategic divestment of L&amp;T Electrical and Automation business to Schneider Electric for ₹14,000 crore. The deal was earlier announced in May 2018 and took over 2 years to be completed after receiving the requisite regulatory approvals. The shares of L&amp;T ended 4% lower yesterday. Biocon Kiran Mazumdar-Shaw owned Biocon’s subsidiary along with Mylan NV launched Semglee, an insulin glargine injection in the US market. The company told investors that ‘Semglee’ has received final approval from the US FDA and has an identical amino acid sequence to Sanofi’s Lantus, a drug that is used to control high blood sugar. The shares of Biocon ended 4% lower yesterday. Mahindra and Mahindra Mahindra and Mahindra (M&amp;M) extended the date of sale of its entire stake in Neo Solren to CLP India. The company said that due to COVID-19 the sale of stake is expected to be done by September, earlier August was the deadline set by the company. The shares of M&amp;M ended 4% lower yesterday. Punjab National Bank India’s second-largest lender Punjab National Bank hiked its repo-linked lending rate (RLLR) by 15 basis points (bps) to 6.80 per cent. 100 basis points make 1%. All new retail loans related to housing, education, vehicles and credit to MSMEs are linked to RLLR. The shares of PNB ended 6% lower yesterday. Bharat Earth Movers Ltd and Tata Power The Indian defence ministry sealed a deal with domestic defence majors to procure Pinaka rocket launchers for six Army regiments at the cost of ₹2,580 crore. The deal has been signed with Tata Power Company Ltd (TPCL) and engineering major Larsen &amp; Toubro (L&amp;T) while defence public sector undertaking Bharat Earth Movers Ltd (BEML) will also be part of the project. The shares of BEML ended 8% lower yesterday, and Tata Power was down 4%. SEE ALSO: <a href="https://www.businessinsider.in/india/news/indias-former-president-pranab-mukherjee-passed-away/articleshow/77852656.cms" data-type="tilCustomLink">Apna Time Aayega? Remembering Pranab Mukherjee, a village boy who couldn’t be stopped from being India’s first citizen</a> <a href="https://www.businessinsider.in/policy/economy/news/indian-economy-contracts-23-9-in-the-april-june-quarter/articleshow/77854401.cms" data-type="tilCustomLink">Indian economy contracts 23.9% in the April-June quarter</a>

Top stocks to watch— L&T, Biocon, M&M, PNB, Tata Power, Bharat Earth Movers and others

<ul><li>
	
Passenger vehicle sales in India have been on a downtrend for seven months now and June 2019 may be no different.</li><li>A research report released two days before the monthly auto sales data projects another month of falling car sales.</li><li>Tata Motors may be the worst hit with a 30% contraction in car sales among the listed car makers in India in June .</li></ul>Indian car makers have hit the worst patch in recent times. Passenger vehicle sales in India have been on a downtrend for seven months now and June 2019 may be no different. A research report released two days before the monthly auto sales data projects another month of falling car sales, ahead of the actual monthly automobile sales data that will be released on Monday (July 1). "Our channel checks suggest that footfalls have dried up and only those OEMs (original equipment manufacturers) who have launched new models recently are getting some response from customers, " Nirmal Bang Institutional Equities said. Tata Motors may be the worst hit with a 30% contraction in car sales among the listed car makers in India in June, according to the report followed by Maruti with a 11.6% slump while Mahindra and Mahindra seems better off than its peers with a 2.1% fall in passenger vehicle sales. 
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
 
 
 
 
 
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 Consumer sentiment has suffered due to cost increase amid strict safety regulations, delay in monsoon, rural stress, slowing economy and liquidity constraints are weighing down car sales. But stocks of Maruti and M&amp;M seem bored of falling as investors have rued the declining fortunes for quite sometime now. Maruti has lost 27% of its market value in the last one year, M&amp;M too has seen a similar loss in share price, while Tata Motors' stock has lost nearly 40% in the same period. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 Luxury car makers have had it even tougher. 2018 was a bad year and the outlook is no better for the next couple of years. "2019 is going to be a challenging year. The next two years is not going to be easy for the overall luxury segment. While I do believe that sentiment will change in the second half of the year, it does not mean there is going to be a major increase, unless there are any drastic changes, any crucial changes that are related, again, to structures of taxes and duties," Rahil Ansari, Managing Director of Audi India, told Business Insider earlier. Audi is planning to launch three new models this year, the R8, A8, and the Q8, in India. But, the German car maker is not expecting the cars to fly off the showroooms. Watch excerpts of the interview here: 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 Truck sales are flopping New norms for axle loads and a slowdown in the economy have reduced the demand for new commercial vehicles too. "Expect Ashok Leyland and Eicher Motors’ CV sales to also decline in double digits," Nirmal Bang said. 
	
	
	
	
	
	
	
	
	
	
 
 
 
 
 
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 The new axle-load norms rolled out in August 2018 allowed Indian trucks to carry about 20% more payload than earlier. Transporters re-registered their trucks with the Regional Transport Office to carry more stuff. This means there is a need for fewer trucks leading to an oversupply in the industry. Freight rates have plunged while diesel prices have gone up causing much pain for the transporters as well as truck makers, according to a recent report from Crisil. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 Both Ashok Leyland and Eicher Motors have lost nearly 32% in share price in the last one year while <keyword id="843125" type="PERSON" weightage="20" keywordseo="commercial-vehicle-sales">commercial vehicle sales</keyword> turned wobbly. For Tata Motors, it's a double whammy because both its cars and trucks are struggling. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 Other two-wheelers are skidding too but companies like Hero Motocorp, Bajaj Auto, and TVS Motor-- which largely focus on budget motorbikes with higher mileage-- are better off than the makers of cars and trucks but only slightly. The distress in rural economy has hit these manufacturers of budget motorbikes too. 
 
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
 
 
 
 
 
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 SEE ALSO: <a href="https://www.businessinsider.in/audi-e-tron-bookings-from-india-before-avengers-and-iron-man-drove-one/articleshow/69308189.cms?utm_source=contentofinterest&amp;utm_medium=text&amp;utm_campaign=cppst" data-type="tilCustomLink" target="_blank">India's passenger car sales decline sharply in April</a> <a href="https://www.businessinsider.in/indigo-spicejet-and-goair-airfares-soar-despite-empty-seats/articleshow/69684642.cms" data-type="tilCustomLink" target="_blank">Indian airlines have more empty seats these days but their profits are soaring like never before-- and no one seems to care</a> <a href="https://www.businessinsider.in/audi-e-tron-bookings-from-india-before-avengers-and-iron-man-drove-one/articleshow/69308189.cms" data-type="tilCustomLink" target="_blank">Audi claims it had to decline bookings for E-Tron from India even before Iron Man showed up in it</a>

Car makers in India may have more bad news to share on Monday

The shares of state-owned <keyword id="64243" type="COMPANY" weightage="20" keywordseo="Oil-and-Natural-Gas-Corporation">Oil and Natural Gas Corporation</keyword> (ONGC) surged 5% on Monday on reports that India is considering a floor price for natural gas produced from local fields. IANS Sources said <keyword id="5219124" type="COMPANY" weightage="20" keywordseo="The-Petroleum-Ministry">the petroleum ministry</keyword> is considering a proposal under which domestic gas will have a floor pricing that would prevent fuel prices from crashing below an identified threshold in the current subdued market conditions and insulate oil and gas explorers like ONGC from a tariff crash. <div type="image" title="ONGC" msid="78362156" hostid="261"></div> CNG and piped natural gas prices could face an increase this festive season if the government implements a new floor price mechanism for gas produced from domestic fields by companies such as Oil and Natural Gas Corporation (ONGC). Talks are on to link gas prices with price Japan-Korea Marker, a benchmark index used to determine LNG tariff in North Asia with a discount. With JKM prices hovering over $ 5 million British thermal units (mmBtu) even with day $ 1 mmBtu discount, the Indian gas floor price under this formula will be close to $ 4 mmBtu. This is much higher than the government administered price of $ 2.39 mmBtu for the April-October, 2020 period. And if implemented, it could increase the cost for all gas consumers. "Nothing has been finalised on having a gas floor price as of now. A panel in the petroleum ministry is looking at various options and the best course would be adopted that has little impact on consumers but also supports oil and gas companies with remunerative and sustainable gas prices." The average cost of gas production for the country's largest public sector oil company ONGC is about $3.7/mmBtu, much higher than the current regulated price of natural gas at $2.39/mmBtu. This is expected to fall further to about $1.9/mmBtu for the next six months beginning October 1 under the current formula, sources said. Lower gas prices is bad news for ONGC as it would mean further suppressed margins and losses. The company is set to lose close to Rs 6,000 crore on low gas prices this year, brokerages have said. Brokerages have put ONGC's FY22E gas price at US$3.6-4.2/mmbtu depending on discount to JKM price if the new floor price is implemented. With Low L NG liquefaction capacity addition ahead, JKM spot futures for FY22-FY26E are expected at US$5.2-5.8/mmbtu vs US$4.7-4.1/mmbtu in FY20-FY21E. Oil minister Dharmendra Pradhan had said earlier that India will phase out price controls in natural gas and make it market-linked soon. (with inputs from IANS) SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/upcoming-ipos-in-india-mazagon-dock-shipbuilders-uti-amc-and-likhitha-infrastructure/articleshow/78293918.cms" data-type="tilCustomLink">Three more IPOs to hit the Indian market next week — Mazagon Dock Shipbuilders, UTI AMC and Likhitha Infrastructure</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-cams-ipo-share-allotment-status/articleshow/78311094.cms" data-type="tilCustomLink">CAMS IPO allotment: Here’s how to check share allotment status</a>

ONGC surges 5% on reports of domestic gas price hike

<ul><li><keyword id="6357096" type="COMPANY" weightage="20" keywordseo="Mahindra-Mahindra">Mahindra &amp; Mahindra</keyword> (M&amp;M) will increase the prices of its entire range of passenger and commercial vehicles from January 1, 2021. The share price of M&amp;M has gained 4% in morning trade. </li><li>Meanwhile, its loss-making <keyword id="10441530" type="UNKNOWN" weightage="20" keywordseo="south-korean-subsidiary-ssangyong-motor">South Korean subsidiary Ssangyong Motor</keyword> has defaulted on loan repayment aggregating to $55 million (around ₹408 crore) to JPMorgan Chase. </li><li>In April this year, M&amp;M’s board had rejected a proposal to inject any fresh equity into Ssangyong.</li><li>M&amp;M holds nearly 75% in the Korean subsidiary now, and has injected over $110 million in it since the acquisition.</li></ul>One of India’s largest automakers <keyword id="45224" type="DOMAIN" weightage="20" keywordseo="Mahindra">Mahindra</keyword> &amp; Mahindra (M&amp;M) will be hiking prices of its entire range of passenger and commercial vehicles from next month to offset the impact of the rise in input costs. The price hike will be effective from January 1, and across a range of its passenger and commercial vehicles models. The share price of M&amp;M witnessed a 4% gain in morning trade. <div type="image" title="M&amp;amp;M share (3)" msid="79754028" hostid="261"></div> This price hike announcement comes hours after its loss-making South Korean subsidiary Ssangyong Motor <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/432c164e-1871-4f23-a4f4-289112e504e7.pdf">defaulted on loan repayment</a> aggregating to $55 million (around ₹408 crore) to JPMorgan Chase Bank. In a regulatory filing, M&amp;M highlighted that the South-Korea listed subsidiary SYMC has outstanding loans aggregating to $92 million (approximately ₹680 crore). These are three banks Ssangyong owes money to: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lenders to Ssangyong </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pending loans </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JPMorgan Chase Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹408 crore </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BNP Paribas </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹68 crore </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bank of America </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹204 crore </td></tr></tbody></table> The South Korea-based automaker has been in the red for nearly three years and the pandemic only made it worse. It saw its losses deepen in the third quarter and reported the worst performance since the 2008 global financial crisis. In the July-September quarter it reported net loss of $89.1 million. This default comes after Mahindra’s decision to no longer inject money into its subsidiary. In April this year, M&amp;M’s board had rejected a proposal to inject any fresh equity into Ssangyong. The pain point: Ssangyong acquisition Mahindra acquired the loss-making Ssangyong in 2010. Despite several attempts, it has failed to turn its fortune around. M&amp;M holds nearly 75% in the Korean subsidiary now, and has since injected over $110 million in it. Mahindra has been looking for a potential buyer for SsangYong, after the loss making subsidiary took <a href="https://www.businessinsider.in/business/auto/news/mm-share-price-gains-as-ssangyong-dents-fourth-quarter-profit/articleshow/76338292.cms">a toll on its profit</a> this year. SEE ALSO:<a href="https://www.businessinsider.in/business/corporates/news/interview-home-recipes-that-are-set-for-a-7-million-ipo-mrs-bectors-food-is-no-cookie-cutter/articleshow/79721783.cms" data-type="tilCustomLink"> INTERVIEW: Home recipes that are set for a $73 million IPO⁠— Mrs Bector’s Food is no cookie cutter</a> <a href="https://www.businessinsider.in/thelife/personalities/news/facebook-ceo-mark-zuckerberg-and-reliance-industries-mukesh-ambani-spoke-but-had-no-chemistry/articleshow/79739547.cms" data-type="tilCustomLink">Zuckerberg spoke to Ambani but there was no chemistry — even with a multi-million dollar partnership between them</a>

M&M’s planned price hikes eclipse debt default by Ssangyong

<keyword id="9301251" type="General" weightage="20" keywordseo="Global-development-institution" source="Orion">Global development institution</keyword> IFC will invest Rs 600 crore in a new last-mile mobility (LMM) company, a wholly-owned subsidiary of <keyword id="6357096" type="General" weightage="20" keywordseo="Mahindra-Mahindra" source="Orion">Mahindra &amp; Mahindra</keyword> that will be newly incorporated (NewCo), it announced on Wednesday. IFC's first investment in an EV manufacturer in the country, and the first in electric three-wheelers globally, will be in the form of compulsory convertible instruments at a valuation of up to Rs 6,020 crore. The Rs 600 crore investment will result in an ownership of between 9.97 per cent to 13.64 per cent for IFC in NewCo. NewCo will house the last mile mobility division, including three wheelers (Alfa, Treo, Zor) and four-wheeler SCV (Jeeto). "With the electrification of the last mile mobility business at scale, we will move a step further in our commitment to be aPlanet Positive' by 2040. This also presents a tremendous opportunity for growth for micro and women entrepreneurs," said Anish Shah, MD and CEO, Mahindra &amp; Mahindra. India has committed to reducing its emissions profile by 45 per cent by 2030, and simultaneously aims to achieve 80 per cent EV penetration for two-and three-wheelers, 70 per cent for commercial vehicles and 30 per cent for private cars in the same time-frame. "India is the largest three-wheeler market globally, and this investment marks a significant step towards scaled domestic production of electric vehicles catering to this segment, as well as small commercial vehicles," said Hector Gomez Ang, IFC's Regional Director for South Asia. According to Rajesh Jejurikar, Executive Director and CEO (auto and farm sector), Mahindra &amp; Mahindra, being the market leaders in this segment: "We have an opportunity to drive higher EV penetration in this segment and provide a more sustainable as well as profitable option to microentrepreneurs". IFC, a member of the World Bank Group, works in more than 100 countries. In fiscal year 2022, IFC committed a record $32.8 billion to private companies and financial institutions in developing countries. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/back-to-square-one-nifty-circles-back-to-levels-last-seen-in-september-2021-markets-likely-to-end-2023-in-the-red/articleshow/98898424.cms">Back to Square One: Nifty circles back to levels last seen in September 2021, markets likely to end 2023 in the red</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/brent-crude-oil-prices-remain-under-pressure-on-tensions-that-risks-in-global-banking-sector-may-spark-a-recession-worldwide/articleshow/98862335.cms">Brent crude oil prices remain under pressure on tensions that risks in global banking sector may spark a recession worldwide</a>

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