Business News Live: Sensex Slips 600 Points, Nifty Plunges Below 18K


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At 11:06 am IST, the BSE Sensex was trading down 582.72 points at 60,243, the Nifty50 down 182.20 points at 18,013.65 and the Nifty Bank down 437.75 points at 41,971.05.

Business News December 23
Business News December 23

Dalal Street: Indian benchmark indices opened in the red on Friday, continuing to plunge further. Sensex lost more than 600 points today.

At 11:06 am IST, the BSE Sensex was trading down 582.72 points at 60,243, the Nifty50 down 182.20 points at 18,013.65 and the Nifty Bank down 437.75 points at 41,971.05.

CREATURES TO SEE ON DECEMBER 23

Reliance Industries: In a regulatory filing, Reliance Industries announced on December 22 that its wholly-owned subsidiary Reliance Strategic Business Ventures (RSBVL) has acquired a 23.3 percent stake in US-based robotics startup Exyn Technologies for $25 million.

Apart from this, India’s largest oil company, Indian Oil Corporation (IOC), has selected network services managed by Reliance Jio to connect one-fifth of its network of petrol pumps. Jio will connect 7,200 IOC sites with SD-WAN managed service solution, zero-touch provisioning and 24×7 real-time monitoring, the company said in a statement on Thursday.

Similarly, Reliance Projects and Property Management Services (RPPMSL) has completed the acquisition of 100 percent stake in Reliance Infratel for around Rs 3.72 billion.

GR Infrastructure Projects: The National Highway Authority of India has issued a certificate of completion, Delhi – Vadodara Green Field Alignment (NH-148N) portion, to the Engineers for the construction of an eight-lane access control expressway at Bharatmala Pariyojana, Madhya Pradesh. . The said project was considered suitable for commercial operation from November 30, 2022.

Apart from this, infrastructure investment trusts India Grid Trust and GR Infraprojects have joined forces to bid for identified power transmission projects worth Rs 5,000 crore.

Bank of Maharashtra: Seeking to raise money through bonds in private placement, the PSU lender has received bids of Rs 990 crore for the issuance of additional Basel III compliant Tier 1 bonds. The bank has accepted offers of Rs 880 crore, including a base issue of Rs 200 crore and a retained green shoe option of up to Rs 680 crore at a coupon rate of 8.74 per cent.

IRCTC: Government of India proposes to offer 40 lakh equity shares of Indian Railway Catering and Tourism Corporation to eligible employees at a price of Rs.680. The sales offer for employees will be open from December 23rd to December 26th.

Lupine Pharmaceuticals Inc: The company is voluntarily recalling 4 batches of Quinapril tablets due to the presence of a nitrosamine impurity, N-nitroso-quinapril, found to be above the acceptable daily intake (ADI) level in recent tests. However, to date, Lupine Pharmaceuticals has not received any reports of illness appearing in connection with this matter. Marketing of quinapril tablets was discontinued by Lupine Pharma in September 2022. Quinapril tablet is an angiotensin-converting enzyme (ACE) inhibitor indicated for the treatment of hypertension to lower blood pressure.




Date of publication: 23 December 2022 07:42 IST



Update Date: 23 December 2022 11:09 IST

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