Stocks in News, November 29: Vedanta, Can Fin Homes, TCS, Motilal Oswal, Lupin

Stocks in News Today, November 29: Indian share markets are likely to have a negative start on Tuesday i.e. November 29 as SGX Nifty, an early indicator of sentiment on the NSE Nifty50, traded over 62 points, or 0.33 per cent, lower at 18,666.5. This signals that Dalal Street may be headed for a negative start after benchmark indices ended at fresh lifetime highs on Monday. While the 30-share BSE Sensex climbed 211.16 points or 0.34 per cent to settle at 62,504.80, the broader NSE Nifty gained 50 points or 0.27 per cent to end at 18,562.75, its record closing high.

Meanwhile, Asian share markets were mixed as Japan’s Nikkei 225 dropped 0.51 per cent. However, Hong Kong’s Hang Seng index surged 455 points, or 2.62 per cent and South Korea’s Kospi was up by over 7 points, or 0.33 per cent. US stocks ended sharply lower on Monday. The S&P 500 lost 62.18 points, or 1.54 per cent, to end at 3,963.94 points, while the Nasdaq Composite lost 176.857 points, or 1.58 per cent, at 11,049.499. The Dow Jones Industrial Average fell 497.57 points, or 1.45 per cent, to 33,849.46.
 
Vedanta: Shares of mining company Vedanta Limited will trade ex-dividend date Today, November 29. The company has announced to pay a whopping 1750 per cent dividend to its shareholders. This is the third interim dividend that Vedanta has announced to pay in the current financial year (2022-23). Vedanta in the current financial year has already paid dividends on two occasions, amounting Rs 51.

Can Fin Homes: The board of directors of the housing company has announced an interim dividend of Rs 1.50 per equity share of Rs 2 each. According to an exchange filing, December 9, 2022 has been fixed as the record date for the payment of this interim dividend and the payment date has been fixed as December 26. Motilal Oswal Financial Services: Motilal Oswal (MO) Alternates Investment Advisors, the alternative investments arm of financial institution Motilal Oswal Group, has made an investment of Rs 450 crore in two projects of Shapoorji Pallonji Real Estate.

Tata Consultancy Services: Tata Consultancy Services (TCS) has launched the TCS Quantum Computing Lab on Amazon Web Services to help enterprises explore, develop, and test business solutions and accelerate the adoption of quantum computing, the Indian IT major said on Monday.

Lupin: Drug firm Lupin on Monday said its Brazil-based unit has inked a pact to acquire rights to nine products from a subsidiary of Bausch Health Companies Inc. The company's wholly-owned subsidiary in Brazil, MedQuimica Industria Farmaceutica, has signed a definitive agreement to acquire all rights to nine medicines from BL Industria Otica Ltda, Lupin said in a statement.

Aditya Birla Fashion: TMRW, a lifestyle brand from the Aditya Birla Group, on Monday picked up significant minority stakes in eight digital-first lifestyle brands for Rs 290 crore. The eight investments/partnerships include women's Western wear brand Berrylush; casual & expressive wear brand Bewakoof; women's casual & Western wear brand Juneberry; teen's occasion wear brand Natilene; kid's wear label Nauti Nati; athleisure & activewear brand Nobero); casual & denim wear label Urbano; and casual wear & fast fashion brand Veirdo, the company said in a statement without disclosing the quantum of money invested or the stake picked up.

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