Key Stock News: HCLTech, HUL, Morgan Stanley, Ambuja Cements, Dabur, Suzlon Energy - ARETE Securities
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Key News
HCLTech to boost presence in Mexico; to hire 1300 employees over next 2 yrs HCLTech on Saturday announced plans to scale up its operations in Mexico by opening a new technology centre in Guadalajara city and hiring 1300 employees over the next two years amid concerns over high attrition levels.
The new centre in Guadalaraja will enable the company to serve its local and international client base across industries. It will be the sixth technology centre in Mexico and will focus on creating next-generation digital solutions. In line with the company’s hybrid operating model, the new unit will embrace an agile workplace, the IT major said in a press release.
Hindustan Unilever cuts prices of soaps, detergents after 2 years of hikes Hindustan Unilever (HUL), one of the country’s largest fast-moving consumer goods (FMCG) players, is learnt to have cut prices of its leading soaps and detergents this month by 2-19 per cent, according to the company’s distributors.
The cuts come after consistent price increases by the company as well as its peers, following the sharp rise in raw material prices in the past several months.
Morgan Stanley-led banks face $500 million loss on Twitter debt to Musk When banks led by Morgan Stanley agreed in April to help finance Elon Musk’s purchase of Twitter Inc., they were eager to aid an important client, the richest person in the world. Now neither Musk nor the banks have an obvious way to wriggle out of it.
Lenders that also include Bank of America Corp., Barclays Plc and Mitsubishi UFJ Financial Group Inc. committed to provide $13 billion of debt financing for the deal. Their losses would amount to $500 million or more if the debt were to be sold now, according to Bloomberg calculations. They agreed to fund the purchase whether or not they were able to offload the debt to outside investors, according to public documents and lawyers who have looked at them
Ambuja gets shareholders' nod for raising Rs 20K-cr from Adani group firm Ambuja Cements Ltd on Saturday said it has received shareholders' approval for all proposals in its EGM, including a resolution to raise Rs 20,000 crore from an Adani group firm and appointment of Gautam Adani and others on the board of the company.
The Extraordinary General Meeting (EGM) has passed the special resolution proposing to raise Rs 20,000 crore by issuing securities on a preferential basis to Harmonia Trade and Investment Ltd, an Adani group entity, with 91.37 per cent votes, Ambuja Cements said in a regulatory update.
Dabur enters peanut butter market with 'Real Health Peanut Butter' range Dabur India Ltd, one of the major fast moving consumer goods companies entered into the Peanut Butter market and expanded its Réal portfolio with the launch of Réal Health Peanut Butter range.
Shanghvi says will participate in Suzlon Energy's Rs 1,200-cr rights issue Suzlon Energy, on Friday said, that Dilip Shanghvi, the founder of Sun Pharmaceuticals, had conveyed to the promoters of the company his intentions to fully participate in the firm's upcoming Rs 1,200-cr rights issue. The rights issue will open on October 11, closing on October 20.
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