Tata Motors’ shares surge over 20%

New Delhi: Shares of Tata Motors on Wednesday jumped over 20% after the company said it will raise $1 billion (Rs 7,500 crore) in its passenger electric vehicle (EV) business from TPG Rise Climate at a valuation of up to $9.1 billion. The stock jumped 20.43% to settle at Rs 506.75 on the BSE. During the day, it zoomed 23.56% to its 52-week high of Rs 519.95. PTI

New Delhi
Basic customs duty on edible oils scrapped

The government on Wednesday scrapped basic customs duty on crude varieties of palm, sunflower and soyabean oils as well as cut duties on refined edible oils to ease retail prices of cooking oils and provide relief to consumers during the festive season. pti

New Delhi
Wipro Q2 profit rises 17% to Rs2,930.6 crore

IT company Wipro posted a 17% jump in consolidated net profit to Rs 2,930.6 crore for the quarter ended on September 30. The consolidated revenue increased by about 30% to Rs 19,667.4 crore during the quarter compared to Rs 15,114.5 crore it registered in the corresponding quarter of 2020-21. PTI

New Delhi
PNB slashes interest rate on gold loan

State-owned Punjab National Bank on Wednesday slashed the interest rate on loans against gold jewellery and Sovereign Gold Bond by 145 basis points or 1.45 percentage points as part of its festive offer. PNB now offers loans against Sovereign Gold Bond at 7.20% and loans against gold jewellery at 7.30%, the bank said. PTI