Asian share markets rose on Monday, tracking tech-driven gains on Wall Street. Hopes for a year-end rally have grown as dip buyers late last week helped equities recover from a slide driven by doubts over AI exuberance and the scope for Federal Reserve easing.

Wall Street extended its rebound for a second straight session on Friday, erasing losses from earlier in the week, as technology stocks once again powered broader market gains.

Here's a table showing how US stocks performed on Friday:

Source: Equitymaster

At present, the BSE Sensex is trading 435 points higher, and the NSE Nifty is trading 150 points higher.

Infosys, Tata Steel, and Tech Mahindra are among the top gainers today.

UltraTech Cement, M&M, on the other hand, are among the top losers today.

The BSE Midcap index is trading 0.6% higher, and the BSE Smallcap index is trading 0.6% higher.

Sectoral indices are trading positively today, with stocks in the realty and healthcare sectors witnessing buying.

The rupee is trading at Rs 89.7 against the US dollar.

Tata Steel Boosts Stake in Subsidiary

Tata Steel on Friday, December 19, announced an equity infusion of Rs 13.54 billion (bn) into its wholly owned foreign subsidiary, T Steel Holdings Pte. Ltd. (TSHP). The investment was made through the subscription of 149 crore equity shares of TSHP, each with a face value of $0.1008.

Following the transaction, TSHP continues to remain a wholly owned subsidiary of Tata Steel.

Previously, in August, Tata Steel had infused Rs 31 bn into the Singapore-incorporated subsidiary through the acquisition of 353.23 crore equity shares.
 

Piramal Finance to Divest Shriram Life Stake

Mumbai-based non-banking financial company Piramal Finance announced plans to divest its entire 14.72% stake in Shriram Life Insurance to Sanlam Emerging Markets (Mauritius) for Rs 6 bn, according to a regulatory filing.

The transaction is expected to be completed by the end of the current financial year, subject to the receipt of requisite regulatory approvals.

Piramal Finance said the divestment aligns with its strategy of monetising non-core assets, adding that it intends to pursue similar actions for its remaining non-core investments.

The proceeds from the stake sale will be utilized to strengthen the company's balance sheet.

During FY25, Piramal Finance earned Rs 0.12 bn in dividend income from its investment in Shriram Life Insurance.

Sanlam Emerging Markets (Mauritius) Ltd. is a wholly owned subsidiary of Sanlam Emerging Markets Pty Ltd and forms part of the Sanlam Group. The South Africa-headquartered Sanlam Group is a pan-African financial services conglomerate with operations in over 30 countries, including key emerging markets such as India.
 

RITES Signs Transport Mou with Botswana

RITES Ltd., a leading transport infrastructure consultancy, has signed a Memorandum of Understanding (MoU) with the Government of Botswana, through its Ministry of Transport and Infrastructure.

Under the agreement, RITES will work with Botswana to support the development and modernization of the country's transport infrastructure, with a strong focus on railways.

The partnership aims to improve efficiency, safety and reliability by using modern technology, the best global practices and training programmes to strengthen local capabilities.

As part of the MoU, RITES will provide technical support for railway projects, including the supply of rolling stock, commissioning, repairs, operations and maintenance, and the modernization of railway workshops.

The collaboration will also cover wider transport infrastructure projects such as highways, bridges, airports and buildings.

In addition, RITES will offer training and capacity-building programmes, share technical expertise, provide quality checks and inspections, and deploy IT solutions such as train operations and passenger management systems.

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