Latest Stock Market News

The homegrown auto major Tata Motors said it would explore the possibility of partial divestment of its holding in subsidiary Tata Technologies Ltd through an initial public offering route.

Consumer inflation data will be closely monitored on Tuesday, and is expected to show prices increased by 7.3% in November on an annual basis, slowing from the 7.7% rise in the previous month, while the "core" reading which excludes food and energy is expected to show a 6.1% increase from the 6.3% in the prior month.

The report pointed out that banks like IDFC First and Bandhan have strongly outpaced their larger peers in deposit growth year on year which has allowed them to improve their current and savings account (CASA) deposit ratio and competition for deposits could aggravate in case credit demand for long term capex picks up.

Exports contracted in October after a gap of 19 months. Merchandise exports slipped below the level of $30 billion for the first time in the last 20 months. This marked a contraction of 16% on a sequential basis and a hefty 17% on an annualised basis.

Tata Steel, JSW Steel and Adani Group have shown "strong interest" in the entity during the pre-bid consultations held in early December, said people familiar with the development.

Pristine Malwa proposed a ₹521-crore resolution plan, which includes payment to lenders, employees, and cash in the company. The offer equates to 30% recovery for verified creditors.

Higher gold prices propel small businesses and businesses from the unorganised segments to seek gold loans to meet their working capital requirements.

The assets put together have a cement manufacturing capacity of 9.4 million tonnes per annum (MTPA), including clinker capacity of 6.7 million tonnes and thermal power plants of 280 megawatts and are situated in Madhya Pradesh, Uttar Pradesh, and Chhattisgarh.

However, the IPO will be subject to market conditions, applicable approvals, regulatory clearances (including observations from the Securities and Exchange Board of India) and certain other considerations.

Post the announcement, the stock traded with a cut of 4% at around 3:12 pm at Rs 125.35 apiece on the NSE.