Nifty futures on the Singapore Exchange traded 255.5 points, or 1.53 per cent, higher at 16,908 signaling that Dalal Street was headed for a gap up start on Wednesday. Indian stock market broke a five day winning streak on Tuesday led lower by negative global cues. Nifty 50 index ended 208 points lower at 16,663 whereas BSE Sensex shed 709 points and closed at 55,776 levels. Bank Nifty index lost 289 points and closed at 35,022 levels.
IL&FS Transportation Networks
The company has entered into a Share Purchase Agreement (SPA) with Axis Trustee Services (as the trustee of Roadstar Infra Investment Trust and others) to sell 100 percent shareholding in subsidiary Sikar Bikaner Highways. The sale consideration is Rs 375.5 crore which will be received in the form of units of the Trust.
paytm
Softbank managing partner Munish Ravinder Varma has resigned from the board of the digital financial services company One97 Communications, which operates under the Paytm brand, and PB Fintech, according to regulatory filings by both companies on Tuesday.
Zomato
Indian food-delivery firm Zomato Ltd has reached an all-stock merger with Blinkit that values the instant-delivery service between $700 million and $750 million, TechCrunch reported on Tuesday, citing a source familiar with the matter. The firm will also acquire 16.66 per cent stake in robotics firm Mukunda Foods.
Eveready Industries
The Rs 604.76-crore open offer by the Burman group through various entities to acquire an additional 26 per cent in batteries and flashlights maker Eveready Industries India Ltd is slated to open on April 26, 2022, according to a regulatory filing by the company.
Punjab National Bank
State-owned Punjab National Bank has reported a borrowing fraud of over Rs 2,000 crore in the non-performing account of IL&FS Tamil Nadu Power Co. Ltd.
Oil stocks
Fall in crude prices is likely to have an impact on the oil firm stocks.
Bajaj Auto
The firm on Tuesday said it has appointed Dinesh Thapar as its chief financial officer.
IT stocks
Investors will keep an eye on the sector due to weak rupee and FPI selling pressure. Infosys, TechM, Wipro will be in focus
Bank Stocks
FPIs are likely to sell more in the anticipation of rate hike by the US Fed.
Infibeam Avenues
The board has approved appointment of Sunil Bhagat as Chief Financial Officer of the company, in place of Hiren Padhya.
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