Stocks in News Today, December 13: Tata Motors, Paytm, Dalmia Bharat, Mahindra CIE and others in news today

Stocks in News Today, December 13: Indian frontline indices S&P BSE Sensex and Nifty50 are likely to open positive today amid favourable global cues and local factors. Singapore-based SGX Nifty futures, an early indicator of movement in Nifty50 traded at 18,620.5, up 22.5 points or 0.12 per cent. 

Overnight, the U. stock market rallied as investors girded for inflation data on Tuesday and a policy announcement from the Federal Reserve later in the week. The Dow Jones Industrial

Average rose 528.58 points, or 1.58%, to 34,005.04, the S&P 500 gained 56.18 points, or 1.43%, to 3,990.56 and the Nasdaq Composite added 139.12 points, or 1.26%, to 11,143.74.

The rally marked the biggest one-day percentage gain for each of the three major indexes since November 30, and each of the 11 major S&P sectors ended the session in positive territory.

​Stocks in News Today, December 13

Tata Motors

Tata Motors would explore the possibility of partial divestment of its holding in subsidiary Tata Technologies Ltd through an initial public offering route, the company informed in its regulatory filing on Monday. In a regulatory filing, Tata Motors said the IPO Committee of the company, which met on December 12, 2022 has accorded its in-principle approval for such a step.

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

One97 Communications

The board meeting of One97 Communications parent company of Paytm is be held today, December 13 to consider a proposal for the buyback of equity shares.

Dalmia Bharat

Dalmia Bharat Ltd has announced the acquisition of cement assets of Jaypee Group's flagship company Jaiprakash Associates Ltd and its associate firms. The deal includes a total cement capacity of 9.4 Million tones (MnT) per annum, along with a clinker capacity of 6.7 MnT and thermal power plants of 280MW at an enterprise value of Rs 5,666 crore, Dalmia Bharat informed in a regulatory filing.

Mahindra CIE

Mahindra CIE has invested INR 24.26 Million towards a subscription of 3,03,250 equity shares of INR 10/- each of Strongsun Solar Private Limited (“Strongsun") which will constitute 27.35% of the post-issue paid-up capital of Strongsun on Monday, December 12.

The company in its corporate filing said, "In order to qualify as a captive consumer, the Company must hold at least 26% of the total equity capital of the Power Generating Plant(s)."

3i Infotech

The company has incorporated another wholly-owned subsidiary NuRe FutureTech in India. The company will engage into the business of cognitive computing-related software products after the incorporation of the new company.

V-Guard

Electricals and home appliances player V-Guard Industries is to acquire Sunflame Enterprises for Rs 660 crore in an all-cash deal.

The Kochi-based company in a statement said, "We have entered into a definitive agreement to acquire 100 per cent stake of Sunflame Enterprises for Rs 660 crore in an all cash deal."

BGR energy

BGR Energy Systems bagged orders worth Rs 330 crore from Indian Oil Corporation Ltd for civil and structural works at Panipat Refinery Project Complex on Monday.
According to a regulatory filing, the contract is valued at Rs 330 crore excluding GST (Goods and Services Tax) and the contract completion period is 18 months.

The company has secured orders from Indian Oil Corporation Ltd for the construction of civil and structural works in Panipat, Haryana, the exchange filing added.

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