Tata Motors, Wipro, Karnataka Bank in focus

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Trends on the Singapore stock exchange indicates that the Nifty could rise 112 points at the opening bell. The Reserve Bank of India (RBI)’s Monetary Policy Committee (MPC) meet began on 6 December and concludes on 8 December 2021. MPC’s interest rate decision will be disclosed on Wednesday, 8 December 2021. In the previous meeting, MPC kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 4%. Here is the list of stocks that will be in focus for today’s session.

Tata Motors: The auto major has announced an impending price hike of its commercial vehicle range. An increase in price in the range of 2.5%, will be implemented from 1st January 2022 and will be put into effect across segments – M&HCV, I&LCV, SCV and Bus, basis individual model and variant of the vehicle.

Wipro: Wipro and Celonis, the global leader in execution management, announced the launch of the Supply Chain Command Center to help organizations drive supply-chain transformation.

Karnataka Bank: The bank has signed a Memorandum of Understanding (MOU) with Toyota Kirloskar Motor Private Limited (TKM), India’s leading automotive brand in a joint effort to introduce attractive financing options for its customers to purchase their favourite Toyota vehicles.

Indo Count Industries: The company entered into a Business Transfer Agreement (BTA) with GHCL for acquisition of its Home Textile business at Vapi, Gujarat, on a going concern basis by way of a slump sale and Asset Transfer Agreement (ATA) for acquisition of specified assets of the US subsidiary of GHCL. The cost of acquisition is Rs. 576 crore.

HFCL: The company has opened its qualified institutional placement issue on December 6, and approved floor price at Rs 72.33 per share.