Stock Market Today: On the NSE IX, the Nifty moved up 154 points, at 22,079, indicating that Dalal Street was off to a good start on Thursday. Thursday’s opening gains in Tokyo equities were aided by the weaker yen and US rallies following the Federal Reserve’s decision to maintain interest rate stability.Early trading saw the benchmark Nikkei 225 index rise 1.30 percent, or 520.75 points, to 40,524.35 while the Topix index as a whole gained 1.20 percent, or 33.10 points, to 2,784.07. The U.S. Federal Reserve kept its forecasts for interest rate cuts this year in the face of positive inflation shocks, which caused the dollar to weaken on Thursday. Despite investor concerns, the Fed did not adopt a more hawkish stance.
Stock Market Today: Stocks in focus
Wipro
Anne-Marie Rowland has been appointed as the new CEO of Capco by Wipro Ltd, per a filing made to the stock exchanges. As of April 1, 2024, Rowland—who presently serves as managing partner for Capco’s activities in the UK and Ireland—will take on the position of managing partner. Wipro paid $1.45 billion to acquire Capco, a British consultancy firm, on April 29, 2021. Rowland will take over for Lance Levy, who headed Capco’s executive operations for almost a decade. She will join the Wipro Executive Committee (WEC) and directly report to Thierry Delaporte, the company’s CEO and managing director.
TVS Motors
Two- and three-wheeler producer TVS Motor declared on Wednesday that for each share held as of the record date, it would issue four cumulative non-convertible redeemable preference shares (NCRPS), priced at Rs 10. These NCRPS are to be redeemed 12 months following the allotment date and will have an annual coupon rate of 6%.
Zomato
Zomato CEO Deepinder Goyal announced that there won’t be any on-ground rider segregation just one day after the company revealed plans to launch a “pure veg” fleet for clients who follow vegetarian diets. Goyal made it clear that all Zomato riders, regardless of the kind of order they are delivering, will be wearing red uniforms in a post on X published on March 20. This was different from the earlier declaration that the “pure veg” fleet would be recognised by their green uniforms. The app will now be the only way for customers to identify their “pure veg” fleet.
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