CMS Info Systems will make its Dalal Street debut today. The company raised Rs 1,100 crore via primary route offering its shares in the range of Rs 205-216 apiece between December 21-23.
IVRCL was pushed into liquidation after lenders rejected two separate resolution plans submitted by Shankar Sharma promoted First Global Finance Pvt Ltd and by Phoenix Asset Reconstruction Company in partnership with Devina Mehra, according to a liquidation order dated July 26, 2019.
Those are state-backed entities including Life Insurance Corporation of India, General Insurance Corporation of India and New India Assurance, the insurance regulator said in a release on Thursday.
Lenders, however, claim that the forensic audit is based on concerns about diversion of funds and irregularities in the operations of the company, said people in the know of the matter. The Hyderabad-based engineering, procurement and construction company has denied these claims.
The move is also aimed at demonstrating investor confidence in the bank where a change of guard on Christmas Day was immediately preceded by central bank intervention in board composition.
Nifty50 on Thursday settled the December futures and options series above the 17,200 level. The index formed an indecisive Doji candle on the daily chart for the second straight session as traders were unsure of the market direction ahead of the New Year. Mazhar Mohammad of Chartviewindia.in said the indecisive formations at the upper boundary of a downsloping channel are an indication that Nifty50 is preparing itself for a decisive move in either of the directions.
We can expect a quiet start to the day. The levels of 17,265 and 17,330 are expected to act as resistance points; the supports come in at 17,140 and 17,080 levels. The Relative Strength Index (RSI) on the daily chart is 49.00; it continues to stay neutral and does not show any divergence against the price.
The information technology giant is on the verge of taking over private sector banking major HDFC Bank in terms of market capitalisation. Infosys’ market capitalisation currently stands at Rs. 7.95 crore, just Rs. 15,000 crore shy of HDFC Bank’s.
The Dow Jones Industrial Average rose 33.85 points, or 0.09%, at the open to 36,522.48.
Mazhar Mohammad of Chartviewindia.in said the indecisive formations at the upper boundary of a downsloping channel are an indication that Nifty50 is preparing itself for a decisive move in either of the directions.
Warning! Information Posting in this website is only for educational purpose. We are not responsible for losses incurred in Trading based on this information.