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Stock market moves: Maruti Suzuki's share allotment, LIC increases stake in BoB, Wipro-NVIDIA collaboration

EditorHari Govind
Published 2023-11-21, 11:30 p/m
Updated 2023-11-21, 11:30 p/m
© Reuters.

NEW DELHI - Maruti Suzuki India's board is set to consider a proposal from Suzuki Motor Corporation regarding the allotment of shares this Friday. This corporate move comes as part of the strategic initiatives within the automotive industry, aiming to strengthen their long-term partnership and operational synergy.

In the banking sector, Bank of Baroda has seen its shareholding structure change with Life Insurance Corporation of India (LIC) increasing its stake to over 5%. This development occurred after LIC acquired additional shares, marking a significant shift in the bank's investor profile.

Meanwhile, in the retail and technology sectors, Titan Company has received approval from the Competition Commission of India (CCI) for a substantial stake acquisition in CaratLane Trading. This approval paves the way for Titan to increase its presence in the jewelry segment by acquiring stakes from the Sacheti family.

In technology news, Wipro (NYSE:WIT) has announced a collaboration with NVIDIA (NASDAQ:NVDA). This partnership is focused on accelerating the adoption of generative artificial intelligence among healthcare companies, highlighting the growing importance of AI in improving patient care and operational efficiency.

Furthermore, Tata Consultancy Services (NS:TCS) is bracing for a financial hit as it prepares a $125 million provision for punitive damages. This provision follows a decision upheld by the US Supreme Court that will impact TCS's third quarter results, underscoring the legal and financial risks multinational corporations face in overseas markets.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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