Stock Market Today: The Sensex and Nifty50 in India are expected to open the week with minor losses due to mixed moves in global markets. The Singapore Exchange (SGX) Nifty futures, an early indicator of the Nifty50 index, were down 29 points or 0.2 percent at 17,848 at the last count ahead of the opening bell on Dalal Street, after falling as much as 52 points earlier in the day to 17,825.
Kotak Mahindra Bank to buy Sonata Finance for Rs 537 crore
On February 10, 2023, Kotak Mahindra Bank entered into share purchase agreements with the current shareholders of Sonata Finance Private Limited to acquire 2,64,53,256 equity shares of Sonata, each with a face value of Rs 10 and fully paid up, for a total consideration of approximately Rs 537 crore, constituting 100% of Sonata’s issued and paid up capital.
The transaction is subject to all necessary approvals, including those from the Reserve Bank of India.
Gross direct tax mop-up grows 24% to Rs 15.67 lakh crore
The finance ministry reported on Saturday that gross direct tax collections have increased by 24 percent this fiscal year to Rs 15.67 lakh crore. After adjusting for refunds, net direct tax collection stood at Rs 12.98 lakh crore, representing an 18.40 percent increase.
According to the CBDT, net collections are approximately 79 percent of the Revised Estimates (RE) of direct tax collection for the current fiscal year.
Stock Market Today: Nasdaq ends lower
The Nasdaq fell on Friday as megacap growth stocks were under pressure after Treasury yields pointed to higher interest rates, and shares of ride-hailing company Lyft fell after a disappointing profit forecast.
The Dow Jones Industrial Average ended up 169.52 points, or 0.5 percent, higher at 33,869.4, the S&P 500 gained 8.98 points, or 0.22 percent, higher at 4,090.48, and the Nasdaq Composite fell 71.46 points, or 0.61 percent, lower at 11,718.12.
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