The market partly recovered from yesterday’s losses on reports that more vaccines could be approved in the coming days. The 30-share pack Sensex advanced 660.68 points or 1.38 per cent to close at 48,544.06. The index traded in a 852-point range during the day. Its broader peer NSE Nifty rose 194 points or 1.36 per cent to settle at 14,504.80.
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The proposed investors for preferential allotment include Ward Ferry, Fairfax and RIMCO and warrants are being subscribed to by the promoters Nirmal Jain, Madhu Jain and R Venkataraman.
The issue will be a complete offer for sale of 1,15,08,704 equity shares of face value of Rs 5 each by promoter and investor selling shareholders. The offer includes an employee reservation portion as well. The company will not receive any proceeds from the offer since it involves only the Offer for Sale.
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Analysts advised investors not to get carried away and look to lighten up positions on rallies.
The appeal of emerging markets is waning due to the slow pace of vaccination amid the emerging risk of a new wave of the pandemic.
Infosys had a net worth of $9.6 billion and net cash of $4.6 billion as of December quarter, and therefore can buy back a maximum of $2.4 billion, based on 25 per cent of its net worth, without shareholder’s approval.
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Shares of Tata Motors jumped nearly 6 per cent after arm Jaguar Land Rover said that it is likely to report significant free cash flow in the March quarter and achieve break-even on a cash flow basis for the previous financial year.
Investors cheered the company’s update as the stock jumped, reacting to the management’s comments. Shares of Tata Motors ended 5.62 per cent at Rs 303 on the National Stock Exchange.
The selloff in the domestic equity market over the past six days has caused Adani’s wealth to plummet 17 per cent, or by Rs 92,000 crore ($12 billion), from its peak.
This is how the 30-pack Sensex moved in today’s session. It touched a high of 48,627.43 and a low of 47,775.32 to finally settle at 48,544.06
CLOSING BELL: Sensex soars 661 points on hopes of more vaccine approvals; Nifty tops 14,500; M&M surges 8%, TCS dips 4%
- Financials and RIL lead the market rally
- 23 of 30 Sensex stocks end the day in the green
- Index contributors: HDFC, HDFC Bank, ICICI Bank, Axis Bank, RIL
- Top Index gainers: M&M (7.81%), Bajaj Finserv (6.43%), Bajaj Finance (4.76%)
- Top Index losers: TCS (3.78%), DRL (3.75%), TechM (3.10%)
- All BSE sectoral indices except IT, teck and healthcare end the day in the green
- S&P BSE AUTO biggest sectoral gainer, up 4.30%
- S&P BSE Information Technology biggest sectoral loser, down 2.63%
- Volume toppers: Infosys, Bajaj Finance, DRL, TCS, SBI
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Price as on 13 Apr, 2021 03:30 PM, Click on company names for their live prices.
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Price as on 13 Apr, 2021 02:47 PM, Click on company names for their live prices.
Mutual funds also significantly increased their holding in the company in the final quarter of FY21. They held a 12.25 per cent stake in the company as of March 31, as against 4.99 per cent as of December 31.