Stock Market Today: GIFT Nifty on the NSE IX increased by 44 points to 22,156.50 on Monday, indicating that Dalal Street was off to a good start. Monday’s opening movement in Tokyo equities was limited, following Wall Street’s drop on inflation data that dashed expectations of an early Federal Reserve interest rate cut. On the daily chart, the Nifty finished Friday 139 points higher and above the 22,000 mark, indicating indecision. It appears that the index will test all-time highs next week.
Stock Market Today: Stocks in focus
Bajaj Auto
The date of record for calculating the entitlement and names of equity owners eligible to participate in the buyback has been set by the Board of Directors’ buyback committee at February 29. A proposal for the buyback of up to 40 lakh shares at a price of Rs 10,000 each, or Rs 4,000 crore, was authorised by the board on January 8.
Tata Power
A wholly-owned subsidiary of REC Power Development and Consultancy has sent a Letter of Intent (LOI) to the Tata Group company to purchase Jalpura Khurja Power Transmission, a project special purpose vehicle (SPV). Built on a build-own-operate transfer model, the Jalpura Khurja Power Transmission Project would supply transmission service for 35 years after the scheduled date of commercial operation (SCOD), which is 18 months after the date of SPV acquisition. The project is expected to cost 838 crore rupees.
Paytm
Paytm announced that it has joined forces with Axis Bank to handle merchant payment settlement. According to a press release from the firm, One97 Communications has formed an escrow account with Axis Bank and moved their nodal account there. The parent company of Paytm, Paytm QR, Soundbox, and card machines, One97 Communications, will carry on with business as usual for all of its merchant partners.
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