Shares of Tata Motors continued their gaining streak for the second consecutive session, rising over 4 per cent on the Bombay Stock Exchange, in an otherwise weak market. Bharat Sanchar Nigam Ltd (BSNL) expects to save around Rs 600 crore in wage bills after 78,569 employees from its workforce opted for Voluntary Retirement Scheme (VRS). State Bank of India (SBI) reduced its external benchmark-based rate by 25 basis points to 7.80 per cent. Read for more top stories from the world of business and economy:
During September-December quarter, shares of Tata Motors surged as much as 54 per cent and was also the top gainer among BSE Auto and Nifty Auto indices.
Boosted by the development, share price of Reliance Capital was locked in the 4.85 per cent upper circuit at Rs 14.05 on the BSE.
State-run Bharat Sanchar Nigam Ltd (BSNL) is also looking at monetising its land assets worth Rs 73,000 crore in order to turn profitable.
SBI also said that new home buyers would now be able to get loans at an interest rate of 7.90 per cent per annum as compared to the earlier 8.15 per cent.
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