In the past session TCS saw a significant block deal where 0.65% shares were offloaded. Reports indicated that the shares were sold by Tata Sons but the buyer remains unidentified. Does the share sale indicate any kid of financial strain in the system?
Recent media reports revealed a significant block deal at Rs 4,035 per share, with undisclosed buyers. This transaction involved Tata Sons, the promoter entity of TCS, divesting a 0.64% equity stake in the technology behemoth on Tuesday, March 19.
What are analysts making of the situation? Here are some views from leading market voices on the road ahead and stock’s prospects
Zomato and Paytm Share Price: Shares of Zomato rose 2.8% to an intraday high of Rs 267 from its previous close of Rs 260.03. The surge in stock price came a day after its board acquired Paytm’s entertainment ticketing business.
The food-delivery company has proposed to acquire the ticketing business for a value of Rs 2,048 crore. However, the ticketing business will continue to run on the Paytm app for a period of 12 months for a smooth transaction, said Zomato in an exchange filing.
“As part of the transaction, 280 employees will move to Zomato. There is no other major physical infrastructure being acquired,” said the company.
The upcoming week in the primary market is poised for a moment of respite, as no new initial public offerings (IPOs) are slated to debut in the mainboard segment. Instead, investors will witness the launch of only three new public issues available for subscription, following a notably hectic period.
In the previous week, attention was drawn to the opening of two mainboard IPOs: Popular Vehicles & Services and Krystal Integrated Services, with the collective aim of raising ₹901 crores. Concurrently, investors saw the listing of three companies – R K SWAMY, JG Chemical, and Gopal Snacks – adding to the market’s activity.
Key IPOs to watch this week
Enser Communications
Enser Communications IPO commenced its subscr…
The Indian stock market reached to an all time high on Friday, with the Nifty surging to an all-time high of 22,297.50 points, and the BSE Sensex peaking at an impressive 73,427.60. The driving force behind this surge primarily emanated from the exceptional performance of financials and energy stocks.
Although the benchmarks indices are trading lower today, Nifty down by 0.37% and BSE Sensex lower by 0.43% as of 11:12 am. The market experts express confidence in the resilience of domestic equities, even in the face of fading hopes for an early US rate cut.
The marke…
The world’s biggest record labels are suing two artificial intelligence startups, taking an aggressive stance to protect their intellectual property against technology that makes it easy for people to generate music based on existing songs.
The Recording Industry Association of America said it filed twin lawsuits Monday against Suno AI and Uncharted Labs Inc., the developer of Udio AI, on behalf of Universal Music Group NV, Warner Music Group Corp. and Sony Music Entertainment. The complaints allege the companies are unlawfully training their AI models on massive amounts of copyrighted sound recordings.
The RIAA, a trade group for record labels, is seeking damages of as much as $150,000 “per work infringed.” That could amount to potentially billions…
As the year wraps up, several things are clear in an otherwise confusing economic picture: the U.S. economy is slowing, the stock market is surging, most people according to polls believe that inflation remains a severe issue, and the mandarins at the Fed who are responsible for containing inflation are still concerned about inflation. But what is far from clear is whether in its dedication to bringing inflation back to its 2% target the Fed is following a rigid script rather than honoring their overall mandate to ensure economic stability. Or to put it bluntly, in cleaving slavishly to a specific number, is the Fed sacrificing a stable economy on the altar of abstract theory?
At its last meeting of 2023, the Federal Reserve board held interest rates steady and affirmed its commit…
Haraldur “Halli” Thorleifsson spent nine tense days unsure whether his job at Twitter had been terminated before he decided to tweet at owner Elon Musk on Monday, asking for an answer. What ensued was a public spat on the platform, during which Musk questioned Thorleifsson’s work ethic and disability, and accused him of seeking a “big payout.” Within a day, Musk was forced to backtrack and issue an apology to Thorleifsson, as it emerged that terminating his employment could be very costly for Twitter.
Thorleifsson joined Twitter when the company acquired his startup in 2021, under the leadership of co-founder and then CEO Jack Dorsey. He was celebrated by the media in Iceland, where he lives, for choosing to receive the purchase price as salary, rathe…