Nifty futures on the Singapore Stock Exchange traded 68.50 points, or 0.41%, at 16,439.50, signaling that Dalal Street was heading for a negative start on Thursday. The Sensex and Nifty suffered losses for the second straight session on Wednesday, pressured by sharp declines in IT, FMCG and pharmaceutical counters amid a mixed trend overseas. High crude oil prices, lackluster macro data and outflows of foreign funds also played havoc. The 30-stock Sensex BSE fell 185.24 points or 0.33% to settle at 55,381.17 in a choppy session. On similar lines, the broader NSE Nifty fell 61.80 points or 0.37% to end at 16,522.75.
State-owned NHPC Ltd aims to secure revenue of Rs 2,000 crore in the current financial year, its chairman and chief executive, Abhay Kumar Singh, has said. This is part of the securitization model the company has adopted in line with the Centre’s National Monetization Pipeline (NMP). India’s largest power generation company has appointed SBI Capital Markets Ltd for this exercise.
Reliance Brands Ltd (RBL) and Plastic Legno SPA have entered into a joint venture agreement whereby RBL will acquire a 40% stake in the European company’s toy manufacturing business in India.
Yes Bank Ltd has chosen JC Flowers Asset Reconstruction Co. as its joint venture partner to offload Rs 49,000 crore of bad debts as the private lender seeks to clean up its books and raise capital to fund credit growth.
Bank shareholders have raised questions about the lender’s financial situation amid two major resignations.
Nestle India is looking to tap into opportunities in new categories such as “healthy ageing”, “plant-based nutrition” and “healthy snacks” to drive growth in the country, its chairman and chief executive Suresh Narayanan said on Wednesday. .
Major automakers Maruti Suzuki, Hyundai and Tata Motors announced strong deliveries to dealers from May.
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