Indian Stock Market

In a boost for employees, the Godrej Board approved the allotment of 50,319 equity shares to employees under the Employee Stock Grant Scheme, 2011. The announcement was made official in an exchange filing, issued on July 4. The face value of the equity shares will be Rs 1 each. With this allotment, the paid-up equity share capital of the company stands increased to Rs 33,66,88,576.

Adani Groups Chairman Gautam Adani announced to the withdrawal of all FPOs worth Rs. 20,000 crores. Addressing the media on February 2, Adani said, the decision to return the FPO money of all the investors and shareholders was taken in the view of the 'Market Volatility'. "In my humble journey of over 4 decades as an entrepreneur I have been blessed to receive overwhelming support from all stakeholders," said  Adani.

Indian equities were slightly altered on May 23 after advancing over 3% the prior session, as a severe selloff in metal companies offset advances in automobile sector. The Nifty metals index fell 6.6 percent, while the Nifty auto index increased by 2%. The Indian government announced on May 22 that it will eliminate import duty on anthracite, PCI coal, and coking coal, with the goal of lowering raw material costs.

Equity opened in red, with BSE Sensex going down by 192.97 points at 60159.85 on November 11, 9:20 am, showed reports. Similarly, 50-scrip NSE was traded at 17951.50 which was reported to be down by 65.70 points. Besides, Firms that are involved in metal and consumer durables sectors were trading high, whereas the banking and information technology sector reported being trading at low, showed reports. 

India's biggest jewellery group Kalyan Jewellers plans for an Initial Public Offering during March 16-18. Reportedly, the price cap of shares has been set at Rs 86-87, along with a total share sale of Rs 1,175 crore. While capping 50% and 35% of the total issues respectively for institutional buyers and retail investors, Rs 20 million have been reserved for eligible employees. Currently, Kalyan Jewellers has over global 100 showrooms clocking… read-more