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HomeCURRENT AFFAIRSBUSINESSStock Market Today: GIFT Nifty indicates a flat start; Zomato, Maruti Suzuki...

Stock Market Today: GIFT Nifty indicates a flat start; Zomato, Maruti Suzuki India in focus

Nifty futures on the Gift Nifty traded 1 point down at 21,075.50, indicating a sluggish start to the trading day.

Stock Market Today: Nifty futures on the Gift Nifty traded 1 point down at 21,075.50, indicating a sluggish start to the trading day. Indian equity indices ended the week in the red, driven down by FMCG, IT, and metal firms, as investors took a pause ahead of the Reserve Bank of India’s monetary policy decision on Friday. The BSE Sensex fell 132 points, or 0.19%, to end at 69,521, while the NSE Nifty fell 36 points, or 0.17%, to 20,901. Oil prices rebounded early Friday but were on track to decline 6% for the week, holding near six-month lows, as investors worried about sluggish Asian energy demand paired with increasing US oil supply.

Stock Market Today: Stocks in focus

Zomato

Shares of online meal delivery service Zomato Ltd are in the spotlight today, following allegations that Japanese tech giant SoftBank is planning to sell Zomato shares for Rs 1125 crore in a block sale. The shares would be auctioned for Rs 120.50 per share. Zomato shares closed at Rs 121.80 on the BSE, up 2.44% from the previous session. It was not immediately clear who would be the buyers in this transaction.

Olectra Greentech

Vasai Virar City Municipal Corporation in Mumbai has awarded the electric bus maker a letter of award (LoA) for the supply and maintenance of 40 electric buses. The order for 40 electric buses is for an outright sale and will be delivered over a seven-month period. This order is worth Rs 62.80 crore.

Maruti Suzuki India

The country’s largest automaker has got an order from the Gujarat Goods and Services Tax (GST) Authority to withdraw an earlier show-cause notice for a Rs 1.79 crore demand on September 29 from July 2017 to March 2018 on account of the reconciliation of tax returns filed by the company

Disclaimer: (This information is provided solely for informational purposes. It is important to note that investing in the market or a business idea involves market risks. Before investing money as an investor/ owner/ partner, always consult an expert. DNP News Network Private Limited never advises to invest money on stocks or any specific business idea. We will not be liable for any financial losses.)

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