Ashoka Buildcon stocks surge during early deals on December 15 after the construction major secured a letter of award (LoA) for a Rs 769.41-crore road project in Goa. The mentioned project is for the six-lanning link road (NH-1665) with paved shoulder configuration to Mopa Airport in Goa on engineering procurement and construction (EPC) mode.

The pubic issue of HP Adhesives secured bids for 📊40.21 lakh equity shares against the issue size of 25.28 lakh equity shares. The IPO has been subscribed 1.59 times on the first day of bidding. Retail investors bought 8.74 times of their reserved portion of shares. However, the part set aside for non-institutional investors and qualified institutional buyers are yet to place bids for the offer.

Medplus Health Services' IPO was subscribed 1.76 times on Day 3 so far. Investors placed bids for 2.21 crore equity shares against the IPO size of 1.25 crore equity shares. Retail investors bid for 3.01 times their reserved portion and employees put in bids 1.82 times their allotted quota. Medplus is backed by marquee investors including Lavender Rose of the Warburg Pincus & Premji Invest.

Data Patterns' IPO generated a healthy response from investors so far. The public issue secured bids for 2.88 crore equity shares against the IPO size of 70.97 lakh equity shares, thus getting subscribed 4.07 times on Day 2 of bidding. Retail investors have put in bids for 7.19 times the portion set aside for them, and the reserved portion of non-institutional investors was subscribed 1.93 times.

Sandhar Technologies stocks were in focus on Wednesday after it inaugurated its Nalagarh production unit in HP. The unit will be manufacturing sheet metal components/parts such as frame parts, complete frames, handlebars, swing arms and other sheet metal parts for two-wheelers. It will also strengthen Company’s presence in the sheet metal components space within the Two Wheeler Segment.

Mahindra and Mahindra (M&M) stocks gained on December 15 after CLSA reiterated the ‘buy’ call on Mahindra and Mahindra and raised the target price to Rs 1,220 from Rs 1,090 per share. According to the foreign research house, the sharp turnaround in consolidated earnings and RoE is going to drive re-rating. It estimates the consolidated RoE to reach 16 per cent by FY23 from 9 per cent in FY21.

Paytm's shares plunged during early deals on Wednesday as a lock-in period for the company's institutional investors ended on Wednesday. This created more pressure on the digital payments firm after a dismal debut last month. Paytm shares crashed more than 27% in India's largest public offering last month. Since the listing on Nov. 22, the stock has logged losses for 13 of the 18 sessions.

RailTel Corporation of India announced that the Ministry of Railways has finalised the appointment of V. Shanker, Executive Director (Planning), Railway Board as Part-time Government Director on the Board of Directors of the company. Post this announcement, V. Shanker would be the Part-time Govt. Director on the Board of the Company w.e.f. December 13, 2021.

CARE Ratings improved the credit rating on Tamilnadu PetroProducts Limited long-term bank facilities to A from A-, with a stable outlook. The operational and financial performance of Tamilnadu Petroproducts was considered while assigning the ratings. Additionally, the rating on long-term bank facilities Rs176cr has been upgraded from the previous rating of CARE A-; Stable to CARE A; Stable.

SpiceJet signed a settlement deal with De Havilland Aircraft of Canada (DHC) on December 13. DHC is the aircraft manufacturer of the DHC-8-400 aircraft. Post this agreement, all related proceedings before the UK Court and execution proceedings before the Delhi High Court have been stayed and will be withdrawn upon compliance with the settlement terms.

Glenmark Pharmaceuticals-led Ichnos Sciences collaborated with Almirall S.A. for the IL-1RAP antagonist ISB 880. Post this deal, Almirall is granted global rights to develop and commercialize this monoclonal antibody for autoimmune diseases. Ichnos will retain rights for antibodies acting on the IL-1RAP pathway for oncology indications.

Infosys Consulting, a unit of Infosys, acquired 100% of the share capital of Singapore Telecommunications Ltd’s (Singtel) delivery centre in Malaysia – Global Enterprise International Malaysia – for SGD 6 million (about $4.4 million). The mentioned deal will strengthen the IT Service major's presence in Malaysia as a strategic delivery and sales hub in South East Asia for global clients.

Saudi Aramco is exploring opportunities to invest in Reliance New Energy Solar Limited (RNESL)after both firms had earlier announced the scrapping of $15 billion investment in Reliance's oil-to-chemicals (O2C) business. RNESL in October acquired REC Solar Holdings for $771 million, moving closer to achieving the goal of generating or enabling the generation of 100GW of solar energy.

SBI Board nodded to exploring possibilities to sell 6% in SBI Funds Management Private Limited through a public issue route. The mentioned deal will go ahead after securing all regulatory approvals. In February 2021, Bloomberg cited that the country’s largest bank is looking to raise $1 billion through this IPO. SBI’s mutual fund is currently valued at about $7 billion.

Singapore-based crypto hedge fund Three Arrows Capital invested over $84 million in Ethereum ($ETH), post its price declined below the $4,000 mark. Etherscan data revealed Three Arrows Capital withdrew millions from cryptocurrency trading platforms Binance and Coinbase onto its wallet. The firm transferred 14,833 ETH, worth approximately $56 million, from the exchanges to its wallet.