Stock Market Today: The GIFT Nifty on the NSE IX fell by 124 points, or 0.58%, to 21,700.50 on Tuesday, indicating that Dalal Street was off to a good start. Nifty surpasses 21,650 while the Sensex gains 400 points. On the daily chart, Nifty formed a bearish engulfing candle on Monday after closing 198 points lower. The Nifty’s short-term trend has declined from its peak following a brief increase, and it appears that selling pressure has begun to build up from the 21,750–21,850 levels. With support from lower crude oil prices in international markets countered by a weak trend in domestic equities, the rupee gave up all of its early gains and ended the day just 1 paisa higher at 83.14 against the US dollar.
Stock Market Today: Stocks in focus
Bajaj Auto
The board of the company approved a proposal to buy back up to 4,000,000 shares at a face value of Rs 10 each for Rs 10,000 per share, with a maximum consideration of Rs 4,000 crore. Following this approval, the company announced a share buyback. The board of the company established a buyback committee and gave it authority to take any actions it deemed appropriate, necessary, or expedient in relation to the offer.
Tata Motors
In comparison to the same period last year, the company’s subsidiary Jaguar Land Rover reported a 27% increase in total wholesales at 101,043 units in the third quarter that ended in December. During that time, JLR produced the highest wholesales in eleven quarters.
Adani Enterprises
Mumbai International Airport Ltd (MIAL), the company’s step-down subsidiary, has prevailed in the arbitration case against the Airports Authority of India. Due to a force majeure, MIAL is currently exempt from paying its monthly annual fee for the period of March 13, 2020, to February 28, 2022.
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