At $9.1 billion valuation, BII will have a stake of 2.75-4.76% in the new EV company
The funds will be utilized primarily to create and market a world-class electric SUV portfolio with advanced technologies
Stocks to watch today: IT behemoth Tata Consultancy Services (TCS) is slated to report June quarter 2022 numbers (Q1FY23); Dr Reddy's received two observations from USFDA for its Andhra plant
The Mahindra Group stocks, barring Tech Mahindra, have outperformed the benchmark indices considerably so far in 2022, and look fairly strong on the charts poised for more gains ahead.
The Mumbai-based $15.8 billion cars-to-factory equipment conglomerate took the wraps off its Scorpio-N late Monday, an automobile it bills as the "Big Daddy of SUVs"
Company expects car will impress buyers considering premium offers like Toyota Fortuner, Jeep Meridian and MG Gloster
While the food prices continue to remain high, the company believes that a better compensation for farmers would create a positive sentiment and lift demand for tractors and agri-implements
CLOSING BELL: The top laggards were Bajaj Finserv, IndusInd Bank, Bajaj Finance, Hindalco, Tech M, Tata Motors, ICICI Bank, Adani Ports, NTPC, and TCS
Stocks to watch today: Dhanlaxmi bank saw no outcome or resolution in their EGM meeting; Media stocks are expected to hog limelight ahead of day 2 of IPL's media rights auction.
Revival in tractors, improvement in supply, and margin gains are other key triggers for the auto major
While the outlook for tractors has improved, analysts expect the auto business to be the key growth driver over the next couple of years.
CLOSING BELL: Among individual stocks, Titan, Infosys, M&M, L&T, Reliance Industries, HCL Tech, TCS, and Tech M were the lead gainers
Stocks to watch: Crude oil-related stocks will hog the limelight today as Brent crude has surged past $120/barrel-mark
Analysts also believe that the government's export duty hike on steel and plastic bodes well for the auto sector due to elevated commodity inflation.
CLOSING BELL: The RBI also announced revised inflation and GDP growth forecasts in-line with market expectations
CLOSING BELL: JSW Steel, Titan Company, SBI Life, RIL, Kotak Bank, Tata Consumer Products, Tata Steel, Nestle India, and Eicher Motors were the other notable gainers
Many other state governments are expected to announce its Caravan tourism programme shortly
Brokerage and financial firm JM Financial Institutional Securities has given a 'buy' call for Hindalco Industries, Mahindra & Mahindra, Zomato, Bharat Forge, Prestige Estates, and Gujarat State Petronet.
M&M's tractor volumes during the quarter declined to 91,769 units over 100,696 units in the same period a year ago
Here are the top headlines on Thursday