Today’s top morning headlines - 22nd December 2023

Good afternoon

Markets are trading in the green, with the NIFTY50 trading above 21,300 as of 1:00 pm. Here are the top stories for the day!

Top gainer: Tata Motors: 725 ▲ 16 (+2.3%)
Top loser: Grasim: 2,065 ▼ 20 (-0.9%)

:star: Allcargo Logistics rises on business restructuring
Shares of the logistics company rose nearly 10% intraday after the company approved the composite scheme for restructuring of businesses under Allcargo and Allcargo Gati Limited. As per the scheme, International Supply Chain (ISC) business will be demerged into a separate entity: Allcargo ECU Limited. Shareholders of Allcargo Ltd and Allcargo Gati will get direct shareholding in this new entity.

:star: MOIL gains after record-breaking production in 2023
Shares of the manganese ore miner rose more than 3% today after the company’s production surpassed 16 lakh tonnes as of 20 December in the ongoing calendar year, which is 26% higher than the previous best achieved in 2019. Moreover, sales for the calendar year, up to December 20, have exceeded 14 lakh tonnes, shattering the multi-year record set back in 2007.

:star: LIC shares hit 52-week high
Shares of the insurance giant hit a 52-week high of ₹821 per share after the company was granted a one-time exemption to achieve the mandated 25% minimum public shareholding (MPS) within the next 10 years from its date of listing, extended to May 2032.