Nifty futures on the Singapore Exchange-traded 58.5 points, or 0.34 per cent, higher at 17,280.50, signaling that Dalal Street was headed for a positive start on Friday. The Indian equities markets benchmark Sensex closed 89 points down in volatile trading on Thursday due to selling pressure in banking and financial stocks. The 30 stock S&P BSE Sensex closed 89.14 points or 0.15 per cent down at 57,595.68 points against its previous day’s close at 57,684.82 points. The Nifty closed 22.90 points or 0.13 per cent at 17,222.75 points. The Nifty had lost 69.85 points or 0.4 per cent on Wednesday.
Reliance Industries
The joint bid of Reliance Industries and Assets Care & Reconstruction Enterprise (ACRE) for debt-ridden Sintex Industries has been moved before the NCLT for approval after it was unanimously cleared by the lenders of the company.
Kotak Mahindra Bank
Canada Pension Plan and Investment Board has sold 4 crore shares of Kotak Mahindra Bank worth around Rs 6,800 crore. As per bulk deal data on BSE, the pension fund sold the shares at an average of Rs 1,700.10 apiece. Separately, Regents of the University of California bought 1,12,27,404 equity shares in the private sector lender at an average of Rs 1,699.05 per share
Oil marketing companies (OMCs)
Raised petrol and diesel prices by 80 paise a litre each on Friday, the third increase in four days. Meanwhile, India’s top fuel retailers IOC, BPCL and HPCL together lost around $2.25 billion in revenue between November and March by keeping petrol and diesel prices unchanged despite a sharp rise in global crude oil prices.
Future Enterprises
Has defaulted on payment of ₹93.99 crore to Punjab National Bank and Canara Bank under the one-time restructuring (OTR) plan. The due date for payment was 23 March. Future Enterprises is part of the Rs 24,713 crore deal announced by Future group in 2020, under which 19 companies operating in retail, wholesale, logistics and warehousing will be sold off to Reliance Retail.
IndusInd Bank
The private sector lender has agreed to sell its Rs 247 crore principal loans of Future Retail and Asian Hotels (North) Ltd to Edelweiss Asset Reconstruction Company at a consideration of ₹195 crore. The bank had invited offers for a Rs 142 crore secured principal loan given to Kishore Biyani promoted Future Retail and Rs 105 crore principal loan given to Asian Hotel Delhi under 15:85 basis.
Bharti Airtel
The telecom major will not buy 5G network equipment from Chinese vendors and will instead use equipment from European vendors such as Nokia and Ericsson, as well as openRAN-based 5G network provider Mavenir, among others. Airtel may also look at taking 100 MHz of 5G spectrum if it is affordable, but will be open for a lower quantum of airwaves if prices are high.
Axis Bank
SEBI levies Rs 5 lakh penalty on Axis Bank for flouting merchant banking (MB) regulations. The matter dates back to a period between August 2016 and August 2019.
Zomato
Zomato-backed Curefit revenue shrinks 67per cent to Rs 161 crore in FY21 from Rs 496 crore in FY20. The firm posted a loss of Rs 671 crore in FY21, entrackr website reported.
Kalpataru Power Transmission
SBI Funds Management acquired 14.5 lakh equity shares in the EPC company via open market transactions on March 23. With this, its shareholding in the company stands at 7.25 per cent, up from 6.27 per cent earlier.
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