Share Market LIVE: Sensex, Nifty to begin on stable note; Gift Nifty in green
Zee Entertainment Enterprise and Sony Pictures (Culver Max Entertainment).Financial creditors such as Axis Finance, IDBI Bank, and JC Flower ARC have opposed the merger due to Zee's outstanding dues to them.During the proceedings, senior counsel Janak Dwarkadas, representing ZEE, highlighted that ZEE has a public shareholding of 96.01%, with 70% of it owned by public institutions. (Full Report)Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher has recommended three intraday stocks for today:1] GRSE: Buy at ₹579.50, target ₹607, stop loss ₹570;2] REC: Buy at ₹166.50, target ₹172, stop loss ₹165; and3] Adani Enterprises: Buy at ₹2410, target ₹2530, stop loss ₹2370.
(Read More)The State Bank of India (SBI) announced today its plan to sell a 2% stake in the depository organization NSDL by offloading 4 million shares.According to a regulatory filing, SBI intends to participate in the Initial Public Offering (IPO) of National Securities Depositories Limited (NSDL) and will offer for sale up to 2% of its equity stake in NSDL, which amounts to 4 million equity shares. (Read More)On Monday, Foxconn announced its withdrawal from a $19.5 billion semiconductor joint venture with Vedanta Ltd.
The joint venture aimed to establish semiconductor manufacturing facilities in India. Foxconn has stated that it will no longer be pursuing the Vedanta JV for the ambitious semiconductor project.
Additionally, Foxconn is in the process of removing its name from the entity, which is now fully owned by Vedanta. The decision behind Foxconn's withdrawal has not been disclosed.
Last year, Foxconn and Vedanta entered into an agreement to establish semiconductor and display production plants in Gujarat, India. (Read More)Wall
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