Paytm, Zomato, PNB, Infibeam Avenues and others
Astute futures on the Singapore Stock Exchange traded 255.5 points, or 1.53%, at 16,908, signaling Dalal Street was heading for an early gap on Wednesday. India’s stock market snapped a five-day winning streak on Tuesday, led lower by negative global indices. The Nifty 50 index ended down 208 points at 16,663 while BSE Sensex lost 709 points and closed at 55,776 levels. The Bank Nifty index lost 289 points and closed at 35,022 levels.
IL&FS transport networks
The company has entered into a share purchase agreement (SPA) with Axis Trustee Services (as trustee of Roadstar Infra Investment Trust and others) to sell a 100% stake in subsidiary Sikar Bikaner Highways. The consideration for the sale is Rs 375.5 crore which will be received in the form of Trust Units.
Softbank managing partner Munish Ravinder Varma has resigned from the board of digital financial services firm One97 Communications, which operates under the Paytm brand, and PB Fintech, according to the two companies’ regulatory filings on Tuesday.
Indian food delivery company Zomato Ltd has completed an all-stock merger with Blinkit that values the instant delivery service at between $700 million and $750 million, TechCrunch reported on Tuesday, citing a source familiar with the matter. The company will also acquire a 16.66% stake in robotics company Mukunda Foods.
The Rs 604.76 crore open bid by Burman Group through various entities to acquire an additional 26% in battery and flashlight maker Eveready Industries India Ltd is set to open on April 26, 2022, according to a regulatory filing. of the society.
National Bank of Punjab
The state-owned National Bank of Punjab has reported loan fraud of more than Rs 2,000 crore in the non-performing account of IL&FS Tamil Nadu Power Co. Ltd.
Lower crude prices are expected to impact oil company stocks.
The company announced on Tuesday that it has appointed Dinesh Thapar as chief financial officer.
Investors will keep an eye on the sector due to weak selling pressure from the Rupee and the REIT. Infosys, TechM, Wipro will be the center of attention
REITs are likely to sell more in anticipation of a rate hike by the US Fed.
The board has approved the appointment of Sunil Bhagat as the company’s chief financial officer, replacing Hiren Padhya.
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