SGX Nifty was trading down by a whopping 400 points during the early hours of trade suggesting a deep red start for Dalal Street equity indices
Sensex and Nifty look set to enter the first trading session of the week under the firm grip of bears. SGX Nifty was trading down by a whopping 400 points during the early hours of trade suggesting a deep red start for Dalal Street equity indices. S&P BSE Sensex is currently placed at 54,333 while the NSE Nifty 50 is at 16,245 — both after having slumped more nearly 2.5% during the week. Global cues were also suggesting a negative opening with Hang Seng, Shanghai Composite, Nikkei 225, TOPIX, KOSPI, and KOSDAQ sitting deep in the negative territory.
TCS: The IT company announced that it will start its buyback worth Rs 18,000 crore from March 9. February 23 has been fixed as the record date for the same.
Nazara Technologies: Rakesh Jhunjhunwala-owned company has approved the issuance of equity shares worth Rs 25 crore to existing shareholders of Datawrkz Business Solutions. Shares will be issued on a preferential basis.
Coal India: BCCL, a subsidiary of Coal India, has posted a record 61 per cent growth in its production to 3.24 million tonnes (mt) in February this year over the corresponding month last fiscal. The company also claimed that it supplied 59 per cent more coal to power sector consumers during the current financial year.
Tata Steel: The company plans to produce a major portion of its steel from scrap-based production processes in the coming decade. The move is attempted to steer Tata Steel towards a less carbon-intensive process.
3i Infotech: The company has informed the bourses that it has been awarded a work order by Rajasthan State Pollution Control Board (RSPCB), for ‘Design, Development, Implementation and Maintenance of Integrated E-Governance Solution 2.0 for Rajasthan State Pollution Control Board covering end to end business processes under various Acts and Rules’, at a total contract value of Rs 12.85 crore.
FMCG stocks: Prices of consumer goods are likely to increase soon as companies try and keep up with rising raw material prices. Commodity prices have soared higher amid the current conflict between Russia and Europe.