Asian stocks wobbled on Friday while the dollar was steady, keeping the yen rooted near five-month lows in thin year-end trading as investors looked ahead to 2025.MSCI’s broadest index of Asia-Pacific shares outside Japan was slightly higher at 574.88, on course for a nearly 9% gain this year.US indexes drifted lower in light trading volumes on Thursday, as rising yields pressured some shares.Here’s a table showing how US stocks performed on Thursday:
Source: EquitymasterAt present, the BSE Sensex is trading 286 points higher and NSE Nifty is trading 93 points higher.Trent, Tata Motors, and Bajaj Auto are among the top gainers today.ONGC, TCS and HCL Tech hand are among the top losers today.The BSE Midcap index trading 0.3% higher and the BSE Smallcap index is trading 0.4% higher.Sectoral indices are trading mixed today with stocks in the telecom sector, auto sector, and Finance sector witnessing buying. Meanwhile, stocks in the IT sector and FMCG sector witnessing selling pressure.The rupee is trading at Rs 85.34 against the US dollar.In commodity markets, gold prices are trading marginally higher at Rs 76,915 per 10 grams today.
Dixon Technologies Signs MoUDixon Technologies’ wholly-owned subsidiary, Dixon Electro Manufacturing, has signed an MoU with Cellecor Gadgets to manufacture refrigerators and related components, according to a company filing on 26 December 2024.Cellecor is known as a leading Original Design Manufacturer and Original Equipment Manufacturer across products in the living appliances space like mobile phones, smart TVs, smartwatches, home, and kitchen appliances.Atul Lall, vice chairman and managing director of the company said the collaboration is aligned with the ‘Make in India’ initiative, and enhances Dixon’s reach in the high-margin refrigerator segment.Dixon has order book with marquee brands and has started mass production for Voltas, Kelvinator, Acer, Lloyd and BPL. The company has backwardly integrated many processes and has plans to further invest in deep freezers, mini coolers, wine chillers, two-door frost-free and side-by-side refrigerators.
RedTape Announces Bonus SharesShoe manufacturer RedTape has announced a 3:1 bonus share issue for its shareholders, along with a record date of January 3 to determine eligibility for an interim dividend of Rs 2 per share.The record date for this purpose will be announced by the company in due course.On a pre-bonus basis, the paid-up equity share capital of RedTape stands at Rs 276.4 m divided into 13.82 crore shares of Rs 2 each, which will become Rs 110.56 crore divided into 55.28 crore shares of Rs 2 each.This is the first ever instance of the company issuing bonus shares to its shareholders.A 3:1 bonus share issue means that for every 1 share held by an investor, the company will issue 3 additional shares for free.
L&T Eyes GrowthInnfrastructure major Larsen & Toubro (L&T) expects its construction and mining machinery business to grow at least 20 percent in the next fiscal year with the company planning to double sales in the next five years.Larsen & Toubro and Komatsu Ltd entered into a joint venture in 1998 to manufacture construction equipment and hydraulic components in India.From 1998 to 2013, the joint venture company was manufacturing hydraulic excavators at its facility in Karnataka. After that, it was jointly decided that Komatsu would focus on manufacturing and L&T would focus on distribution and after-sales.Later, L&T bought Komatsu’s stake in the Bengaluru plant, while Komatsu shifted its manufacturing facilities to Chennai.At present, Komatsu manufactures hydraulic excavators and a few dump truck models at its Chennai facility. However, L&T is entirely responsible for customer interaction, pre-sales, after-sales, service, spare parts, and warranty.
RBL Bank Divests their Stake
RBL Bank has sold its entire 8.16 per cent stake in DAM Capital Advisors Limited through an offer for sale (OFS) after the latter’s initial public offering (IPO), held from 19-23 December 2024.The transaction, amounting to Rs 1.6 bn (excluding taxes and related expenses), was disclosed by the bank in an exchange filing on Thursday.The sale involved 5.77 million equity shares with a face value of Rs 2 each, representing 8.16 percent of DAM Capital’s equity capital, sold at Rs 283 per share.Following this transaction, RBL Bank no longer holds any equity in DAM Capital.Prior to the IPO, RBL Bank had divested 1.06 million shares, representing a 1.5% stake in DAM Capital, through a secondary market transaction.The earlier transaction was below the threshold requiring regulatory disclosure under Securities and Exchange Board of India (Sebi) guidelines.Incorporated on 7 May 1993, DAM Capital is a financial services company providing a range of offerings.More By This Author:Sensex Today Ends Flat; Nifty Above 24,700Sensex Today Trades Higher; Nifty Below 23,800Sensex Today Ends Flat; Tata Investment, Tata Chemicals, Other Tata Stocks Up 3%
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