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Market Updates

The Markets are expected to open higher today as trend in GIFT nifty indicate a positive start for the broader index after Nifty closed 168 points higher at 20,855 on Tuesday.

State Bank of India:

The lender has proposed to acquire 20% stake from SBI Capital Markets (SBICAPS) in SBI Pension Funds for Rs 229.52 crore. Post acquisition, it will have 80% stake in SBI Pension Fund.

Ashok Leyland:

The automaker increased its stake in Switch Mobility's holding company to 92.19% from 91.63%. It had deployed around Rs 662.5 crore as the first tranche of a planned Rs 1,200 crore investment.

Canara Bank:

The bank looks to raise up to Rs 3,500 crore via tier?I bonds. The bidding starts on Dec. 7.

Bank of India:

The lender opened its QIP issue at a floor price of Rs 105.42 per equity share.

Somany Ceramics:

Sets Dec. 15 as record date for Rs 125 crore buyback. Company to buy back 15.18% stake at Rs 850 per share.

Power Grid Corporation:

The company emerged as a successful bidder to establish the Inter?State Transmission System Project in Khavda RE Park, Gujarat.

UCO Bank:

The Central Bureau of Investigation has carried out searches in 13 locations in connection with the company’s IMPS glitch case.

Ion Exchange:

The International Chamber of Commerce has rejected Ethingen Arbitration claim of Rs 149.56 crores for damages against the company.

Axiscades Technologies:

The company has acquired a 99.99% stake in EPCOGEN for Rs 26.25 crores.

Sanghi Industries:

The company and Incor Realty Projects have mutually agreed to an upward revision of the sale consideration of Rs 125 crore on account of certain improvements in the land condition and certain other factors.

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