Here are the top stories this evening:
Taking Stock: Sensex reclaims Mt 60k, Nifty above 17,900
The Indian equity benchmarks closed higher on August 17, as cooling inflation and buying in PSU bank, power and information technology stocks saw the Sensex vault pass 60,000 after more than four months. At close, the Sensex was up 417.92 points, or 0.70 percent at 60,260.13, and the Nifty was up 119 points, or 0.67 percent at 17,944.30. It was the seventh straight session of gains, which is also the longest winning streak for the market since October.
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MC Exclusive | Wipro holds back April-June quarter variable payouts for mid, senior-level employees
Software major Wipro Limited has decided to pause variable payouts for the April-June quarter for mid and senior-level employees amid significant pressure on margins, people familiar with the development have told Moneycontrol.
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Blackstone to likely sell Sona BLW shares worth Rs 4,000 crore in block deal tomorrow
Promoter of US investment firm Blackstone, which holds 34.12 percent stake in the Indian auto ancillaries company Sona BLW Precision Forgings, will likely sell a 13.6 percent stake via block deal tomorrow, CNBC Awaaz reported on August 17. The stake holding is worth Rs 4,000 crore, the report added.
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Cabinet okays expansion of Emergency Credit Line Guarantee Scheme to aid travel, tourism sectors
The Union Cabinet has approved the expansion of Emergency Credit Line Guarantee Scheme (ECLGS) by Rs 50,000 crore to Rs 5 lakh crore, Information and Broadcasting Minister Anurag Thakur said on August 17. The additional funds will be made available exclusively for the travel, tourism and hospitality sectors, the minister said.
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Zomato-backed Shiprocket enters unicorn club with Rs 259-crore fundraise
Zomato-backed Logistics startup Shiprocket has raised Rs 259 crore in an extended Series E round at a post-money valuation of Rs 9,815 crore (around $1.2 billion), according to company filings with the Ministry of Corporate Affairs (MCA). The filings showed that Shiprocket has issued fresh shares to existing investors Temasek, Bertelsmann, Moore, PayPal and others.
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Syrma SGS Technology IPO Day 3 | Issue subscribed 2.27 times on support from QIB, NII
The maiden public issue of technology-focused engineering and design company Syrma SGS Technology on August 17 saw overwhelming response from all kind of investors, and got subscribed 2.27 times. The offer received bids for 6.48 crore equity shares against the IPO size of 2.85 crore shares, as per the data available on exchanges.
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Swiggy appoints Rohit Kapoor as CEO of its food delivery business
Hyperlocal e-commerce company Swiggy has appointed Rohit Kapoor as Chief Executive Officer, Food Marketplace. Kapoor’s last stint was in hotel aggregator OYO as its chief marketing officer.
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