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* Wipro: The company will support Amazon Security Lake, a cybersecurity data lake by Amazon Web Service. The company also launched Wipro Data Intelligence Suite, a one-stop solution for accelerating cloud modernisation and data monetisation, focused on modernising data estates, including data stores, pipelines and visualisations, running on Amazon Web Services.

* Grasim Industries: The company said the Income Tax Appellate Tribunal has held that the demerger of financial services business was a qualifying demerger and that provisions of deemed dividend are not applicable. Demand of dividend distribution tax is not sustainable and hence quashed.

* Britannia Industries: The company appointed Abhishek Sinha, Chief Business Officer, dairy business, as the chief executive officer of Britannia Bel Foods, its joint venture with France-based Bel.

* Moil: The government of India company announced fixation of price of different grades of Manganese Ore and Electrolytic Manganese Dioxide for the quarter of 2022-23 effective from December 1.

* Dynamatic Technologies: The company signed long-term contract with Spirit AeroSystems for detail part manufacturing.

* Tata Consultancy Services: Rail Delivery Group selects TCS to help create the UK Government's rail data marketplace. The company is selected by Rail Delivery Group (RDG) to design, develop, implement, and operate the UK’s Rail Data Marketplace (RDM). The contract between TCS and RDG is for a term of six years including an extension term opportunity.

* Apollo Hospitals Enterprises: Apollo Hospitals gets board approval for fundraising up to Rs 105 crore via NCDs. The hospitals chain operator has received board approval for fundraising up to Rs 105 crore via non-convertible debentures (NCDs). The company will issue 1,050 NCDs of face value of Rs 10 lakh each.

* Punjab National Bank: PNB hikes lending rates by 5 bps across tenures from December 1. The public sector lender has raised lending rates by 5 bps across tenures from December 1.

* Shilpa Medicare: Company's facility Unit IV, Jadcherla, Telangana facility has received Health Canada GMP approval.

* NMDC: The state-owned mining major hiked the prices of iron ore lumps and fines by Rs 300 per tonne with immediate effect. The announcement from the country's largest iron ore miner has come days after the government removed duty on the exports of the mineral.

* Tamilnad Mercantile Bank: The private sector lender said it has been authorised by the Reserve Bank of India to undertake government business on behalf of the banking regulator. An agreement in this connection was signed by the bank with RBI in Mumbai for appointing TMB as an agency bank of RBI to undertake government agency business.

* Manali Petrochemicals: The integrated manufacturer of polyols has 'closed the acquisition' of United Kingdom-based Penn Globe Ltd, a market leader in foam control agents, for an enterprise value of GBP 21 million. The 'all-in' acquisition was transacted through AMCHEM Speciality Chemicals Private Limited, Singapore.

* Hinduja Global Solutions: The business process management firm has opened a new multilingual customer experience hub in Colombia and it plans to hire 150 people for the centre initially. The centre will support customers with English, Spanish, and Portuguese customer experience requirements.

* KPI Green Energy: The board of the company has recommended issue of bonus shares in the ratio 1:1.

* Bank of India: The bank hiked MCLR rates across tenors by 25 basis points, with effect from Dec. 1.

* Bank of Baroda: The bank announced winners of the online nationwide Hackathon that was launched on July 20 with Microsoft as the Technology Partner.

GLOBAL MARKETS

Global Market Update

Wall Street ended sharply higher on Wednesday after Federal Reserve Chair Jerome Powell said the central bank might scale back the pace of its interest rate hikes as soon as December. The S&P 500 rallied and closed above its 200 day moving average for the first time since April after the release of Powell's remarks prepared for delivery at the Brookings Institution think tank in Washington. The S&P 500 climbed 3.09% to end the session at 4,079.97 points. The Nasdaq gained 4.41% to 11,468.00 points, while Dow Jones Industrial Average rose 2.18% to 34,589.24 points.

Crude Oil

Oil prices nosed ahead in early Asian trade on Thursday, lifted by signs of tighter supply and by optimism over a Chinese demand recovery. Brent crude futures rose 5 cents, or 0.06%, to $87.02 per barrel by 0115 GMT while U.S. West Texas Intermediate crude futures rose 16 cents, or 0.2%, to $80.71.

SGX Nifty:Trends in the SGX Nifty indicate a positive opening for the broader index in India with a gain of 45 points. The Nifty futures were trading around 18,961 levels on the Singaporean exchange.

TECHNICAL VIEW

Nifty Outlook:Nifty opened gap up on Wednesday at 18623, made a high of 18816, made a low of 18617, and closed on a positive note at 18758 levels. For the day, support for the Nifty exists at 18600 and 18500 levels, whereas resistance for the Nifty stands at 18800 and 19000 levels.

Bank Nifty Outlook:Bank Nifty opened gap up on Wednesday at 43123 made a high of 43332, made a low of 42880, and closed on a positive note at 43231 levels. For the day, support for Bank Nifty exists at 42740 and 42500 levels, whereas resistance for Bank Nifty stands at 43500 and 44000 levels.

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