Bears remain in control on Dalal Street and analysts believe any pullback will be used to short the market. Broader markets have tanked strongly in the last few trading sessions while large-caps have offered no respite. “Markets have corrected by ~10% from their peak driven by consistent FIIs selling, tightening monetary policy by central banks globally and concern over economic recovery due to rising omicron cases. The overall market breadth remains negative and would require strong positive triggers for changing the current negative trend,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal. He added that it is time to maintain a cautious view over the next few days.
MapMyIndia: Shares of C.E Info Systems or MapMyIndia will begin trading today. The Rs 1,039 crore IPO was subscribed a total of 154.71 times earlier this month, with the Non-Institutional Investor portion subscribed a massive 424.69 times.
Bharti Airtel: The telecom operator lost 489,709 subscribers in the month of October, according to TRAI data. Bharti Airtel’s base declined 0.14% to 353.97 million.
Wipro: The IT company on Monday said that it has signed an agreement to acquire Austin, Texas headquartered Edgile, a transformational cybersecurity consulting provider that focuses on risk and compliance, information and cloud security, and digital identity. The deal is worth $230 million.
Escorts: The construction equipment and farm machinery manufacturer informed the bourses that its shareholders have agreed to issue 93,63,726 equity shares of the company on a preferential allotment basis to Kubota Corporation of Japan.
Jubilant Ingrevia: Specialty chemical manufacturing company, Jubilant Ingrevia, on Monday said that it has issued Commercial Papers Worth Rs 100 crore last week. The tenure of the commercial papers is 46 days with 3.85% coupon.
Balrampur Chini Mills: The company has won an order to supply Ethanol to Oil Marketing Companies. The firm will supply 1.57 lakh kilolitres of Ethanol to both Public Sector and Private Sector OMC.
Shree Cement: Officials from Shree Cement on Monday met Chief Minister YS Jagan Mohan Reddy and held discussions for setting up a Greenfield Cement plant in Guntur district at an estimated cost of Rs 1,500 crore.