Stock Market Today: Dalal Street was destined for a bad start on Thursday as the Nifty on the NSE IX trading lower by 58.5 points, at 22,037. Thursday’s opening of Tokyo equities was lower, following declines on Wall Street as investors focused on important impending economic data.In early trading, the benchmark Nikkei 225 index slid 0.52 percent, or 201.57 points, to 38,494.40. The Topix index as a whole declined 0.24 percent, or 6.40 points, to 2,641.11. In anticipation of producer pricing data and other hints about the inflation trend ahead of the Federal Reserve meeting next week, investors grabbed profits in chipmaker companies on Wednesday, which caused the S&P 500 and Nasdaq to slightly decline.
Stock Market Today: Stocks in focus
Paytm
As part of its annual performance review, One 97 Communications, the parent company of Paytm, plans to let go of more staff members from a variety of divisions, at least four persons with knowledge of the matter informed Moneycontrol. This choice is made at the same time as the RBI is criticising Paytm’s payment bank for flaws in their due diligence procedure. According to the aforementioned sources, several departments have been directed to reduce their personnel by up to 20 percent, however the precise number of affected employees was not immediately apparent. We started this process two weeks ago.
Reliance Industries
The acquisition of Paramount Global’s whole 13.01% share in Viacom18 Media has been approved by the corporation. The deal was revealed via US regulatory documents, with a reported value of $517 million (Rs 42.86 billion). Comedy Central, Nickelodeon, and MTV are just a few of the 40 television networks that make up Viacom18, which is mostly controlled by RIL. Paramount has confirmed that it will carry on with its content licencing relationship with Viacom18 once the acquisition closes, according to Reuters. The closing of Reliance and Disney’s previously announced merger pertaining to their TV and streaming media assets in India is a prerequisite for the completion of this transaction.
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