Nifty futures on the Singapore Exchange traded 60.50 points, or 0.35 per cent, lower at 17,195.50, signaling that Dalal Street was headed for a negative start on Thursday. The 30-share BSE barometer opened higher on Wednesday and rose further to 58,416.56 in line with gains in Asian shares. However, profit-taking by investors in recent winners and lackadaisical buying at higher levels dragged down the index which tanked over 420 points to hit the day’s low of 57,568.59 points in the second half. The Sensex finally closed lower by 304.48 points or 0.53 per cent to settle at 57,684.82. During the day, it tanked 420.71 points or 0.72 per cent to 57,568.59. The broader NSE Nifty dipped 69.85 points or 0.4 per cent to finish at 17,245.65 with 29 of its stocks ending in the red.
The food delivery giant informed about dissolution of its step-down subsidiary Zomato Canada Inc.
Ruchi Soya Industries
The company’s follow-on public offer will open for subscription on March 24.
Tata Consultancy Services
The Rs 18,000-crore share buyback of Tata Consultancy Services (TCS) was subscribed more than 7.5 times on Wednesday – the last day for tendering of shares. Investors offered 30.12 crore shares during the buyback, which began 9, against the company’s offer of four crore shares. Analysts said the strong participation was because the buyback offer price of Rs 4,500 was 21 per cent above the current stock price.
Offshore bondholders of the company have received a formal communication that a Reliance Industries-linked entity will fully absorb $500 million of senior secured bonds, implying a full recovery for them even as domestic lenders, fearing a haircut, have appointed Saraf & Partners as their legal advisor to counsel them on how to maximise their recovery.
Income tax searches at the offices Hero Motocorp Ltd and the home of its chief executive, Pawan Munjal, on Wednesday was part of a “routine inquiry”, the company said. “We at Hero MotoCorp are an ethical and law-abiding corporate, and maintain the highest standards of impeccable corporate governance,” it added.
Kotak Mahindra Bank
Canada Pension Plan Investment Board is likely to sell up to 40 million shares, or 2.02 per cent of stake, in Kotak Mahindra Bank on Thursday through block deals. The Canadian pension fund will likely raise as much as Rs 7,079 crore through the stake sale. The floor price has been fixed at Rs 1,681.26 – 1,769.75 apiece.
HDFC Bank: The private sector lender has acquired 7.84 per cent stake in the open public digital infrastructure framework entity ONDC by investing Rs 10 crore in the entity. ONDC was incorporated in India on 30 December 2021 and is into creating an open public digital infrastructure to develop and transform the Indian digital commerce ecosystem for both goods and services.
Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.