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At 9:27 am IST, the BSE Sensex was down 23.26 points at 61,775.77 and the NSE Nifty was down 5.50 points at 18,409.40.
Mumbai: Indian indices opened in the red, with the BSE Sensex falling nearly 200 points to later recover to trade flat. Asian Paints, TCS, Infosis, Dr Reddy’s Labs are currently the biggest losers on the BSE.
At 9:27 am IST, the BSE Sensex was down 23.26 points at 61,775.77 and the NSE Nifty was down 5.50 points at 18,409.40.
ACTIONS TO WATCH ON DECEMBER 16
Akis Bank: The private lender announced in an exchange filing on Thursday that its board has approved the allotment of 12,000 unsecured, rated, quoted, subordinated, taxable, non-convertible, Basel III compliant Tier II bonds (series – 30) of face value of Rs 1 crore each, for cash, per pair aggregating up to Rs 12,000 crore at a coupon rate of 7.88 per cent per annum payable annually, on a private placement basis. The bonds will be listed on both BSE and NSE.
Reliance Industries: Reliance Ventures’ FMCG arm Reliance Consumer Products on Thursday launched its indigenous consumer packaged goods (CPG) brand ‘Independence’ in Gujarat. Mukesh Ambani’s daughter Isha Ambani said Independence will offer a wide range of products like staples, processed foods and other daily staples. Although the company is gearing up for a national rollout, it was launched on Thursday in Ahmedabad, Gujarat.
Wipro: Indian multinational IT giant Wipro has announced a partnership with Finastra, one of the world’s largest fintech companies based in London, England, offering a portfolio of solutions for financial institutions of all sizes. Wipro has partnered with Finastra to drive digital transformation for corporate banks in the Middle East. This multi-year engagement, aligned with the region’s vision to rapidly digitize and strengthen cross-border trade, will make Wipro the exclusive implementation and go-to-market partner for implementing Finastra’s trade finance solutions in the region.
Deepak Fertilizers: On Thursday, December 15, Deepak Fertilizers announced the demerger of its mining chemicals and fertilizers businesses. A corporate restructuring plan has been approved by the board members of Smartchem Technologies (STL), a subsidiary of Deepak Fertilisers, with the aim of unlocking the growth potential of each of the businesses. They approved demerger of TAN business (mining chemicals) from STL into Deepak Mining Services (DMSPL) and merger of Mahadhan Farm Technologies (MFTPL) with STL.
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