The buyback offer comprises purchase of up to 50,00,000 equity shares. The buyback offer size comprises 0.975 per cent of the total paid-up equity capital of the company.
The late session fall in Bank Nifty changed the direction of the market, leading to a marginal fall in the benchmark indices. Bank Nifty yet again resisted at its multiple point downward sloping trendline level at 25733.
Nifty Pharma index has come in as the healer in an otherwise sluggish market. Index has given a consolidation breakout at the 9420 level today and if the it sustains 9420, followed by 9628 on the upside, it has a long way to go.
The Trump administration's stress on Buy American Hire American policy which includes a proposal to make getting an H-1B visa tougher is likely to adversely impact Indian IT companies.
Kirloskar Oil Engines broke into a 52-week high after a media report claimed that Cummins India would be buying a controlling stake in the company.
Pursuant to government's vision of creating energy conglomerates to compete with global oil majors, BPCL and IOC have individually opted for a merger with GAIL (India). While GAIL is keen on merging with ONGC for better synergies.
Jindal Steel and Power (JSPL) among the other international bidders is competing for rail orders to supply 487,000 tonnes of steel to Indian railways to replace ageing tracks and to improve efficiency.
The Gautam Adani-led company Adani Transmission has played a masterstroke by buying the largest private power utility company in the country, Reliance Energy which distributes power to nearly 3 million consumers in the suburbs of Mumbai.
IT bellwether Tata Consultancy Services Ltd (TCS) has won an astounding $2.25 billion outsourcing contract, the largest ever bagged by an Indian IT firm.