Investors on Dalal Street witnessed wealth erosion of over Rs 5.54 lakh crore on Friday as market participants preferred to book profits, amid weak global cues and concerns over hardening bond yields in the US and India.
Shares of the company traded over 5% higher at Rs 74.20 after the announcement of the buyback.
A spike in domestic and global bond yields spoiled investors’ appetite for risky assets on Friday.
Benchmark equity indices BSE Sensex and NSE Nifty cracked more than 3% on Friday following subdued global cues.
Seven companies including RailTel, Nureca, Heranba, IRFC, Indigo Paints, Home First Finance and Stove Kraft have raised around Rs 8,000 crore through an initial public offering in 2021 so far.
Dilip Buildcon has been declared as L-1 bidder for the tenders floated by the NHAI on Hybrid Annuity basis in the state of Tamil Nadu and Union Territory of Puducherry.
IndusInd Bank lost 3.43% today to trade at Rs 1071.65.
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SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall over 200 points at the opening bell.