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Market Opening - An Overview
SGX Nifty futures were trading 0.15% higher at 17,765, signalling that Dalal Street was headed for a flat-to-positive start on Thursday.
Most Asian stocks fell as investors were worried over the Federal Reserve’s plan for aggressive policy tightening and China’s Covid lockdowns. Japan’s Nikkei fell 0.25% and Topix was down 0.31%. Hang Seng inched down 0.02%, while CSI 300 was up 0.37%.
Indian rupee closed 20 paise lower at 75.96 against the US dollar on Thursday.
FII/DII Trading Data
Stocks in News Today
Tata Steel: The company said that the Kolkata bench of the National Company Law Tribunal (NCLT) has approved the resolution plan submitted by its wholly-owned subsidiary Tata Steel Mining Limited, for the acquisition of debt-laden Rohit Ferro-Tech Limited.
Mahindra & Mahindra (M&M): The car manufacturer said that it has terminated a deal to sell its bankrupt unit, SsangYong Motor Co, to South Korean electric carmaker Edison Motors Co. The caompany in an excahnge filing cited Edison’s inability to deposit the bid amount for the termination of the deal.
Infosys: The IT major and Rolls-Royce extended strategic collaboration with the launch of joint ‘Aerospace Engineering and Digital Innovation Centre in Bengaluru. The innovation centre will provide high-end research and development (R&D) services integrated with advanced digital capabilities to Rolls-Royce’s engineering and group business services from India.
SpiceJet: The Delhi High Court granted interim protection from arrest to the company’s promoter Ajay Singh in a case of an alleged fraud related to the transfer of shares of the airline to certain individuals. “No coercive action till the next date of hearing,” said Justice Anoop Kumar Mendiratta who listed Singh’s anticipatory bail application in the case for further consideration on May 24. Meanwhile, the court directed Singh to join the investigation and keep the disputed shares frozen.
Lupin: The drug maker said it has launched merzee capsules, a medication used to prevent pregnancy, in the us market. the mumbai-based drug maker has launched the product in the US market under exclusive license, marketing and distribution agreement with Slayback Pharma, Lupin said.
Sonata Software: The company’s board has approved the appointment of Samir Dhir as CEO of the company with effect from April 8, 2022. Srikar Reddy is voluntarily stepping down as CEO and will be continuing as Managing Director of the company.
Cholamandalam Investment and Finance Company: The company said disbursements for Q4FY22 stood approximately at Rs 12,718 crore, up 58 percent compared to Rs 8,071 crore of disbursements in the year-ago period. Collection efficiency on billing improved across all product segments and stood at 138 percent in Q4FY22 as against 120 percent in the year-ago period.
Sobha: The realty company achieved a total sales volume of 1.34 million square feet of super built-up area and the highest ever realisation of Rs 1,109.6 crore for the quarter ended March 2022. It achieved a sales of 1.33 million square feet of super built-up area and realisation of Rs 1,072 crore in the year-ago period. The average realisation per square feet stood at Rs 8,265 crore in Q4FY22, against Rs 8,014 crore in Q4FY21.