Stock Market Today: Dalal Street appeared to be off to a good start on Wednesday as the GIFT Nifty on the NSE IX moved higher by 53 points, at 21,915. Wednesday, one day after the Bank of Japan’s much-anticipated announcement to cease its negative interest rate policy, saw the yen hover near a four-month low against the US dollar and a 16-year low against the euro. As of Wednesday, nine stocks—Bharat Heavy Electricals (BHEL), Biocon, Hindustan Copper, Indus Towers, Piramal Enterprises (PEL), RBL Bank, Tata Chemicals, Steel Authority of India (SAIL), and Zed Entertainment Enterprises—are included in the F&O trade prohibition list.
Stock Market Today: Stocks in focus
TCS
The US-based Central Bank has selected TCS BaNCS to upgrade its key technology infrastructure, according to a statement made by TCS on Tuesday. According to a stock exchange statement, the goal of the Central Bank’s strategic partnership with TCS is to create flexible and easy-to-use customer onboarding processes that will support the bank’s further growth.
UltraTech Cement
The proposed takeover of the Kesoram Cement Business by UltraTech Cement from Kesoram Industries received approval on Tuesday from the fair trade authority, CCI. Under the terms of a comprehensive arrangement scheme dated November 30, 2023, UltraTech Cement Ltd will purchase Kesoram Industries Limited’s grey cement segment in this proposed merger.
Vodafone-Idea
The business announced in an exchange filing on Tuesday that it will assign equity shares valued at Rs 1,440 crore from optionally convertible debentures (OCDs) to ATC Telecom Infrastructure. ATC will own 2.9% of the revised shares after the conversion. ATC petitioned VIL on March 18, 2024, in line with the conditions of the OCDs, for the conversion of 14,400 OCDs, worth a total of Rs 1,440 crore, into 1.44 billion fully paid-up equity shares, each having a face value of Rs 10.
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