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Biz EOD: Tata Motors' shares jump 4%; BSNL to save Rs 600 cr; SBI cuts EBR by 25 bps

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twitter-logo BusinessToday.In        Last Updated: December 30, 2019  | 22:03 IST
Biz EOD: Tata Motors' shares jump 4%; BSNL to save Rs 600 cr; SBI cuts EBR by 25 bps
Top stories from the world of business and economy.

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:

1. Tata Motors shares jump over 4% on winning new order; spike 54% in December quarter

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.

2. Reliance Capital share hits 5% upper circuit as IRDAI restores 100% shareholding in RGICL

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.

3. BSNL eyes Rs 600 crore savings in wage bills after 78,569 employees opt for VRS

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.

4. SBI gives New Year gift to home, car buyers! Cuts external benchmark rate on loans by 25 bps

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.

5. This tech startup doesn't want to be like Google, Facebook

Houm.me is essentially a service-led platform where a user owns digital space to store their digital assets safely and privately.

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