Stocks in Focus: GIFT Nifty traded at 19,781.50, marginally up 0.03%, indicating a tepid opening for domestic indices NSE Nifty 50 and BSE Sensex. On Tuesday, the NSE Nifty 50 rose 0.91% to settle at 19,689.85, while the BSE Sensex added as much as 566.97 points to 66,079.36.
“The Indian market completely recovered yesterday’s losses which was mainly due to the Hamas-Israel conflict. Moderation in crude prices and positive global cues on account of dovish remarks from Fed officials, which restrained US bond yields, aided the rebound. The domestic market’s primary focus is currently on the approaching result season, with optimistic expectations on earnings,” said Vinod Nair, Head of Research at Geojit Financial Services.
Bank of Baroda
The Reserve Bank of India has directed Bank of Baroda to suspend, with immediate effect, any further onboarding of customers onto its ‘bob World’ mobile application, based on certain supervisory concerns that RBI had observed in the Bank’s mobile banking onboarding processes. Further onboarding of customers on the ‘bob World’ application will be subject to further strengthening of related processes by the Bank to the satisfaction of RBI.
Birla Corporation
The Company has received an Order from the Office of Collector (Mining), Satna, Madhya Pradesh, imposing a penalty of Rs 8,42,86,858/- for excess production of limestone from the captive mining for the period from 2000-01 to 2006-07, without obtaining environment clearance as per EIA Notification 1994, according to the information available on the NSE.
Samvardhana Motherson International
The company has incorporated Motherson Group Investments USA Inc, Delaware (USA), as an indirect wholly owned subsidiary of Samvardhana Motherson International.
Wipro
The IT giant has granted Rs 146,761 Restricted Stock Units under Company’s ADS Restricted Stock Unit Plan 2004, to its identified employee(s)/ identified employee(s) of its subsidiary company. This grant is effective from October 10, 2023.
IDFC First Bank
The Bank has entered into an agreement for the sale of its office premises to the National Securities Depository (NSDL) IDFC for a consideration of Rs 200 crore. The space spanning 68,000 square feet is situated in Naman Chambers at Bandra Kurla Complex.
(With agency inputs.)