Market this week 10-12-2021

Market this week 10-12-2021
  • Shares of RIL rise 2% on JV with Abu Dhabi-based TA’ZIZ for chemical projects
  • Tanla Platforms reaches 52-week high with Vodafone Idea partnership
  • Tata Motors gains 2% on CV price hike
  • The share price of TeamLease Services rose 2% after its subsidiary was sold
  • Godrej Properties rises nearly 3% on a JV with TDI Group for a residential project in Delhi

Shares of RIL rise 2% on JV with Abu Dhabi-based TA’ZIZ for chemical projects

The company’s shares rose 2 percent in early trading on December 8 following the company’s announcement of a partnership with Abu Dhabi Chemicals Derivatives Company RSC Ltd (TA’ZIZ) for chemical projects in Ruwais worth USD 2 billion.

The Abu Dhabi Chemicals Derivatives Company RSC Limited (TA’ZIZ) and Reliance Industries Limited (RIL) have partnered to form TA’ZIZ EDC and PVC, a world-scale chemical production venture at the TA’ZIZ Industrial Chemicals Zone in Ruwais, UAE. With a $2 billion investment, the new joint venture will construct and operate chlor-alkali, ethylene dichloride (EDC), and polyvinyl chloride (PVC) production facilities.

Tanla Platforms reaches 52-week high with Vodafone Idea partnership

After the company announced a partnership with Vodafone Idea, Tanla Platforms’ share price reached a 52-week high of Rs 1,675.90 and locked at the 5 percent upper circuit on December 7.

Tanla and Vodafone Idea have announced a partnership where Tanla will be the exclusive provider of solutions to secure, encrypt and enhance the performance of international messaging on the Vi network. In the fourth quarter of this year, Wisely – a cloud-based platform co-developed with Microsoft – is anticipated to go live, leading the global enterprise market in digital interactions.

Tata Motors gains 2% on CV price hike

Following the company’s announcement that it will increase the prices of its commercial vehicles starting January 1, Tata Motors’ shares rose 2 percent in the early trade on December 7.

Tata Motors has announced an impending price hike for its commercial vehicle range. A price increase of 2.5 percent is expected to take effect from January 1, 2022.”The policy applies to vehicles in the M&HCV, I&LCV, SCV and bus segments, based on individual models and variants,” the company said in a statement. Increasing prices of commodities such as steel, aluminum, and other precious metals, in addition to higher raw material costs, have caused the rise in the price of commercial vehicles.

The share price of TeamLease Services rose 2% after its subsidiary was sold

Shares of TeamLease Services rose more than 2 percent to Rs 4,225.40 in morning trade on December 6 after the company announced selling its subsidiary IIJT Education.

On December 02, 2021, TeamLease signed a share purchase agreement in order to sell its entire shareholding in IIJT Education Private Limited. On December 03, 2021, the purchase agreement was completed. The sale means IJT Education Private Limited is no longer a wholly-owned subsidiary of the company and/or a Member of the TeamLease Group.

Godrej Properties rises nearly 3% on a JV with TDI Group for a residential project in Delhi

TDI group and Godrej Properties announced a joint venture to develop a residential project in New Delhi, prompting Godrej Properties shares to rise nearly 3 percent in early trade on December 6.

New Delhi’s Central Business District is one of the most premium locations in the country, and Godrej Properties is developing an ultra-luxury residential project with TDI group in Connaught Place .Approximately 125,000 square feet of saleable area is estimated to be available for the development, consisting mainly of residential apartments.

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