Stocks in focus: GIFT Nifty was 0.24% higher during Wednesday’s early trading session at 19,361.5, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex. Domestic indices NSE Nifty 50 and BSE Sensex gave up their gains on Tuesday to end flat, continuing the range-bound trend. Nifty concluded just below 19,400, unable to breach the strong resistance level, landing at 19,396.45 with a marginal 0.01% gain.
“Despite the support of positive international markets, Indian equities struggled to maintain their upward momentum due to lingering apprehensions over ongoing global uncertainties. Sectors closely tied to the Western economy, such as IT and pharma, faced challenges, while domestic-oriented sectors, alongside mid- and small-caps, exhibited resilience and gained traction,” said Vinod Nair, Head of Research at Geojit Financial Services.
Brightcom Group
Sebi passed an interim order barring Brightcom Group (BGL) chairman and CEO Suresh Kumar Reddy and chief financial officer Narayan Raju from holding key managerial positions in any firm.
Vodafone Idea
Vodafone Idea to clear about Rs 2,400 crore of dues to the government by September, according to PTI. The company recently cleared pending dues of licence fees and spectrum usage charges of about Rs 450 crore for the March quarter of 2022-23.
Mphasis
LIC’s shareholding in Mphasis rose from 94.1 lakh shares to 95.3 lakh equity shares. Its total stockholding jumped from 4.991% to 5.054% of the paid-up capital.
Adani Energy
Gautam Adani’s energy firm has been fined Rs 2.24 lakh by the BSE and NSE respectively as Adani Energy failed to comply with certain rules and regulations, “including failure to appoint a woman director.”
Piramal Enterprises
Piramal Enterprises’ board of directors approved the public issuance of non-convertible debentures up to Rs 3,000 in one or more tranches.
RITES
RITES emerged as the lowest bidder floated by the Railway board. The estimated order value is Rs 65.4 crore as RITES will do service testing and inspection of rails as per IRS T-12 2009 for Indian Railways.
(With agency inputs.)