Indian Market:
Equity benchmarks slipped into red in last one and half hours of trade and closed with modest losses.
State Bank of India (SBI) reportedly plans to acquire a second bank in Indonesia and hopes to get 25% of its revenues from its overseas operations in the next three years. In 2006, SBI had acquired Indonesianbank PT Bank Indomonex.
Tata Consultancy Services (TCS) on Wednesday said it has entered into a multi-year agreement to accelerate hospitality firm Hilton Worldwide's technology strategy as part of the ''Hilton Worldwide Innovation Collaborative'' initiative.
Global Cues:
Most Asian shares rose on Wednesday, 22 December 2010 after a $6.3 billion banking deal sent Wall Street to new two-year high overnight. The key benchmark indices in China, Hong Kong, Japan, South Korea, Singapore and Taiwan were up by between 0.04% to 0.46%. But, Indonesia's Jakarta Composite fell 0.05%.
US stocks rose on Tuesday, 21 December 2010, as a big banking deal raised hopes that more acquisitions could be on the way. Toronto-Dominion Bank said on Tuesday it agreed to buy Chrysler Financial, which is owned by Cerberus Capital Management L.P., for about $6.3 billion in cash.
Japan said its exports in November rose 9.1% from a year earlier. It was the 12th consecutive monthly growth.
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