Stock Market Today: GIFT Nifty on the NSE IX fell by 122.5 points to 22,140.50, indicating that Dalal Street is likely to have a poor start to the day. After Wall Street shares dropped on fresh concerns about inflation, Tokyo equities opened lower on Friday. The larger Topix index fell 0.21 percent to 2,656.11, while the benchmark Nikkei 225 index fell 0.60 percent to 38,575.91 in early trading. Concerns about when and how much the Federal Reserve might lower interest rates this year were heightened by hotter-than-expected U.S. inflation data on Friday, which helped to end the dollar’s three-week losing streak.
Stock Market Today: Stocks in focus
Paytm
Paytm obtained a third-party application provider licence from the National Payments Corporation of India on Thursday, the eve of the deadline of March 15th for Paytm Payments Bank to shut down. Thanks to this licence, Paytm’s users will have an additional payment option through its app after its banking division, Paytm Payments Bank, was shut down for breaking regulations. In similar news, there have been rumours that Paytm may cut its team sizes by 20%. But according to the business, this is just a “routine” employee evaluation.
Ashok Leyland
For $50 million, Creador, a private equity group that specialises in corporate investments in South and Southeast Asia, will buy a 19.6% stake in Hinduja Tech Ltd., an Ashok Leyland subsidiary that provides global mobility engineering R&D services. Hinduja Tech’s post-money equity valuation will be $255 million as a result of this transaction. According to the firm, the capital infusion will allow Hinduja Tech to improve its state-of-the-art laboratories, expand its reach internationally, and strengthen its capabilities in research and development.
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