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CORPORATE AND ECONOMY NEWS

* Hindustan Unilever: The leading FMCG maker will acquire of a majority stake in OZiva and a 19.8 per cent equity in Wellbeing Nutrition with a total investment of Rs 335 crore to foray into the health and wellbeing segment. It will acquire a 51 per cent stake in Zywie Ventures, which owns the brand OZiva, for a consideration of Rs 264.28 crore.

* Sun Pharmaceutical: The drug major in its clarification note after import alert for Halol facility says it is not revising the revenue guidance for current financial year and also there will be no impact on specialty revenues. US supplies from Halol contributed approximately 3 percent of consolidated revenues for FY22.

* Adani Enterprises: The Adani Groups flagship firm has acquired 100 percent stake in Alluvial Mineral Resources, from Adani Infra (India). Alluvial Mineral Resources is engaged in mining of minerals & ores activities and other allied activities.

* InterGlobe Aviation: No-frills carrier IndiGo said it will operate 168 weekly flights to eight domestic destinations from the New Goa International Airport. The second international airport in the state will be inaugurated by Prime Minister Narendra Modi on December 11. The airport will commence commercial operations from January 5 next year.

* One97 Communications: The digital financial services firm Paytm said its board will meet on December 13 to consider a proposal for share buyback keeping in mind the company's liquidity position which may be beneficial for its shareholders. Paytm has a liquidity of Rs 9,182 crore, as per its last earnings report.

* Lupin: The pharma major has appointed Spiro Gavaris as President of US generics business. He most recently served as President of specialty generics business at Mallinckrodt Pharmaceuticals and the president of US injectables at Hikma.

* Max Financial Services: The financial services firm has completed acquisition of balance 5.17 per cent stake in Max Life Insurance Company, from Mitsui Sumitomo Insurance Company, Japan. After this transaction, its shareholding in Max Life stands increased to 87 per cent.

* Ahluwalia Contracts (India): The company has clarified inter alia that the Rs 55.39- crore contract at Plaksha University, Punjab is a domestic project and will be executed within 15 months.

* HCL Tech: Management has indicated that growth for FY23 will come at the lower end of the range that it had indicated post its 2QFY23 results due to higher-thanexpected furloughs, according to Nirmal Bang.

* Hinduja Global Solutions: The business process management firm said it will acquire 100 per cent stake in TekLink International for about Rs 483 crore. It also said it has signed a non-binding Letter of Intent to acquire uKnowva, a digital Human Resources Management System product business, from Convergence IT Services.

* Ashok Leyland: The Hinduja group flagship said it has appointed Shenu Agarwal as MD and CEO of the company with immediate effect. Agarwal will drive the technology development, growth, and future strategy for the company towards achieving its vision to be among the top ten commercial vehicle players globally.

* Tata Consultancy Services: The company and Barclays in India have expanded their partnership to help more children with neuro-muscular disabilities become selfreliant by bringing the TCS Virtual Habilitation (VHAB) solution to Bal Kalyan Sanstha in Pune. As part of the collaboration, the company is deploying and supporting its VHAB solution and Barclays, as part of its Disability and Mental Health Network “Reach” is providing the hardware, equipment, and ongoing support.

* Karur Vysya Bank: The lender has hiked its benchmark rate, repo linked (EBR-R) of the bank. The revised rate stand at 9.35 percent.

GLOBAL MARKETS

Global Market Update

The S&P 500 ended higher on Thursday, snapping a five-session losing streak, as investors interpreted data showing a rise in the weekly jobless claims as a sign the pace of interest rate hikes could soon slow. The Dow Jones Industrial Average rose 183.56 points, or 0.55 percent, to close at 33,781.48; the S&P 500 gained 29.59 points, or 0.75 percent, to finish at 3,963.51; and the Nasdaq Composite added 123.45 points, or 1.13 percent, at 11,082.00.

Crude Oil

Oil prices bounced on Friday as closure of a major Canada-to-U.S. crude pipeline disrupted supplies, but prices remained near December 2021 lows on concerns over slowing global demand growth. Brent crude futures were at $76.74 a barrel, up 59 cents, or 0.8%, at 0115 GMT after dropping 1.3% on Thursday. U.S. West Texas Intermediate crude rose 68 cents, or 1%, to $72.14 a barrel after settling 0.8% lower in the previous session.

SGX Nifty :

Trends in the SGX Nifty indicate a firm opening for the broader index with gains of 66.50 points. The Nifty futures were trading around 18,794 levels on the Singaporean exchange.

Nifty Outlook: Nifty opened flat on Thursday at 18571, made a high of 18625, made a low of 18537, and closed on a positive note at 18609 levels. For the day, support for the Nifty exists at 18500 and 18400 levels, whereas resistance for the Nifty stands at 18700 and 18800 levels.

Bank Nifty Outlook:

Bank Nifty opened gap up on Thursday at 43142 made a high of 43641, made a low of 43095, and closed on a positive note at 43597 levels. For the day, support for Bank Nifty exists at 43400 and 43000 levels, whereas resistance for Bank Nifty stands at 43800 and 44000 levels.

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