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Asian share markets made a wobbly start to the final full trading week of 2022, with the prospect of interest rates rising further next year taking the edge off a festive cheer.

The Nikkei fell by 1.1% while the Hang Seng was down by 0.5%. The Shanghai Composite is trading lower by 1.3%.

US stocks fell for the third consecutive session on Friday as investors continued to worry over the impact of tightening monetary policy on economic growth.

The Dow Jones ended lower by 0.9% while the tech-heavy Nasdaq Composite ended lower by 1%.

Here's a table showing the performance of US stocks on Friday:

Source: Equitymaster

Back home, Indian share markets are trading positively following the trend on SGX Nifty.

Benchmark indices extended gains today defying weak global cues.

At present, the BSE Sensex is trading higher by 266 points. Meanwhile, the NSE Nifty is trading up by 79 points.

Bharti Airtel and Power Grid are among the top gainers today. Infosys and Sun Pharma are among the top losers today

Broader markets are trading on a mixed note. The BSE Mid Cap index is trading lower by 0.2% and the BSE Small Cap index is trading higher by 0.1%.

Sectoral indices are trading on a mixed note with stocks in the capital goods sector, healthcare sector, and IT sector witnessing buying.

While stocks in the telecom sector, auto sector, and FMCG sector are witnessing selling.

Shares of Mahindra CIE Auto and V Guard Industries hit their 52-week high today.

IRCTC's share price defying the market trend rose 2% today. IRCTC's share price was falling last week after its OFS opened.

Sugar stocks are rising today, continuing last week's sharp-up move. This is on the back of hopes of a higher export limit.

According to reports, the government may consider increasing the sugar export quota for the current 2022-23 marketing year after assessing the domestic production in January.

In November, the government allowed the export of 60 lakh tonnes of sugar for the 2022-23 marketing year (October-September). India exported a record 111 lakh tonnes of sugar in the 2021-22 marketing year.

The rupee is trading at 82.7 against the US dollar.

In the commodity markets, gold prices trade higher by Rs 123 at Rs 54,223 per 10 grams.

Meanwhile, silver prices are trading lower by 0.4% at Rs 67,994 per 1 kg.
 

Tata Motors Subsidiary to Supply 921 Electric Buses

TML Smart City Mobility Solutions has signed a definitive agreement with Bengaluru Metropolitan Transport Corporation (BMTC) for supplying, maintaining and operating 921 electric buses in Bengaluru.

TML Smart City Mobility Solutions is a subsidiary of home-grown auto major Tata Motors.

TML Smart City Mobility Solutions will supply, operate and maintain 921 units of 12-metre low-floor electric buses for a period of 12 years.

According to the company till date, Tata Motors has supplied more than 730 electric buses across multiple cities in the country.

Speaking of Tata Motors, could it be the next Titan for the group?

So, every lakh turned into Rs 4.5 lakh.

Holding on to the stock till December 2020 would have fetched Rs 1.4 crore!

And there is more to it.

You did not even need a big sum to accumulate these crores. Even a tiny investment of Rs 1,000 per month in the stock of Titan, since 2002, would have led to mouth-watering results.

Take a look at how the power of compounding has gone wild here...

It remains to be seen whether Tata Motors lives up to the reputation of the top EV company in India and delivers gains like Titan.
 

Sun Pharma Receives Warning Letter

Sun Pharmaceutical Industries announced that its Halol Gujarat facility has received a warning letter from the USFDA regarding the inspection conducted from 26 April 2022 to 9 May 2022.

The warning letter summarizes violations with respect to current good manufacturing practice regulations. USFDA shall make public the contents of the warning letter in due course, said the pharma company.

Earlier, on 8 December 2022, the drug maker had intimated that the USFDA placed the Halol, Gujarat facility under import alert.

The import alert implied that all future shipments of products manufactured at this facility are subject to refusal of admission to the US market until the facility becomes compliant with current good manufacturing practice standards.

The USFDA had excluded 14 products from this import alert subject to certain conditions.

Sun Pharma is the world's fourth-largest specialty generic pharmaceutical company and India's top pharmaceutical company.
 

Jindal Power and Steel to Make Expenses Under PLI Scheme

Jindal Steel and Power (JSPL) will spend Rs 7,930 crore (about Rs 79.3 billion) under the PLI scheme for specialty steel to manufacture eight types of high-end alloys in the country.

JSPL is one of the qualifiers of the government's production-linked incentive (PLI) scheme which aims to increase the output of value-added steel using new-age technologies in the domestic steel sector.

On 9 December 2022, the government announced the selection of 67 entries with an investment potential of Rs 425 bn under the scheme.

The proposed investments are likely to generate 70,000 jobs and add 26 million tonnes of specialty steel capacity in the country.
 

PNB Housing Finance's New Scheme for Affordable Housing

PNB Housing Finance on Friday said it has opened 'Roshni' branches in various locations, including tier II and III cities, for deepening its customer base in the affordable housing segment.

Through its affordable home loan scheme Roshni, the city-based lender has also renewed its commitment towards the government's Housing for All mission.

Under this initiative, PNB Housing Finance will offer retail loans to individuals in the range of Rs 5 lakh to Rs 30 lakh.

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