Market View 16th November 2023

Asian markets:

ADR Watch:

Commodities & Currency:

FIIs & DIIs:

News Update:

Bajaj Finance: The Reserve Bank of India barred the company from lending under its “eCOM” and “Insta EMI Card” products. The regulator said that it would review the supervisory restrictions after the company rectifies the deficiencies to the RBI’s satisfaction.

TCS: The IT major has set Nov. 25 as the record date for its Rs 17,000 crore buyback. The company will buy back up to 4.09 crore shares for Rs 4,150 apiece.

Dabur: The company’s two foreign subsidiaries, Dabur International and Dermoviva Skin Essentials, have been removed as defendants in multiple lawsuits filed in a U.S. court over allegations that their hair-relaxer products caused ovarian cancer, uterine cancer and other related health issues.

Satin Creditcare Network: A meeting of the board of directors of the company is scheduled to be held on Nov. 20 to consider the fund-raising proposal by way of the issuance of listed/unlisted, secured/unsecured, and non-convertible debentures on a private placement basis.

IIFL Finance: The NBFC will invest up to Rs 200 crore in arm IIFL Samasta Finance by way of subscription to 7,47,94,315 fully paid-up equity shares of face value of Rs 10 each, at a premium of Rs. 16.74 per share, through rights issue.

Suzlon Energy: Suzlon Group announced the RLMM listing of its S144-3 MW series of wind turbines, which are extendable to 3.15 MW, making them a formidable force in the market. This listing marks an important milestone for the successful commercialization of the product.

One 97 Communications: The company announced a partnership with global travel technology company Amadeus for the next three years. It will integrate Amadeus’s expansive travel platform, enhancing travellers’ experiences from search to booking and payments.

Source: Moneycontrol, Bloomberg Quint, Investing 

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