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Home CURRENT AFFAIRS BUSINESS Stock Market Today: GIFT Nifty indicates a flat start; Tata Motors, Vodafone...

Stock Market Today: GIFT Nifty indicates a flat start; Tata Motors, Vodafone Idea in focus

The NSE IX's GIFT Nifty dropped, suggesting that Dalal Street would probably enjoy a calm start to the week.

Stock Market Today

Stock Market Today: GIFT Nifty on the NSE IX fell by 43 points to 22,672, indicating that Dalal Street will likely have a quiet start to the week. Friday saw a rise in Tokyo stocks as US tech shares increased and the yen declined vs the dollar. In early trading, the benchmark Nikkei 225 index was up by 257.37 points, while the Topix index as a whole gained 13.77 points and reached to 2,760.73. With investors questioning the direction of any Federal Reserve interest rate reduction and the uncertain prognosis for U.S. inflation, Asian markets remained quiet on Friday.

Stock Market Today: Stocks in focus

Wipro

Wipro Ltd. has announced that Malay Joshi, a seasoned employee, has been named CEO of Americas 1, the company’s largest and fastest-growing market. Joshi will succeed Srinivas Pallia, the current CEO, who has been in charge of the division since January 2021 until receiving a promotion recently. Joshi, who has worked for the Bengaluru-based IT company for about thirty years, will start in his new position right away. He will also become a member of the Wipro executive board, the business announced.

Tata Motors

When compared to the same period last year, Tata Motors’ fourth-quarter global wholesale sales increased by an amazing 8% to 377,432 units, as announced on April 10. In a statement, the business stated that during Q4FY24, global wholesales of its passenger vehicles—including electric vehicles—were at 155,651 units, a significant 15% rise over Q4FY23. With 4,436 units sold in FY24, the company’s subsidiary, Jaguar Land Rover (JLR), recorded an 81% increase in retail sales in India.

Vodafone-Idea

The telecom giant announced early on Friday its intention to launch a Follow-on Public Offer (FPO) of equity shares. It is aiming to raise up to Rs 18,000 crore. Offers for anchor investors will be accepted on April 16, as per the company’s exchange filing. The FPO is scheduled to commence next week, with subscriptions accepted from April 18 to April 22. Later on Friday, Vodafone Idea’s Capital Raising Committee will convene to discuss and determine the pricing range and discount for the FPO. Starting from April 15 until the conclusion of the offer, Vodafone Idea will conduct meetings and roadshows for analysts and investors.

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