News for BF Investment Limited (BFINVEST.BO)

Benchmark indices close higher, Nifty auto gains, Nifty media falls, top gainers include Mahindra & Mahindra, Power Grid.

Market regulator, the Sebi on Thursday announced a framework for special call auctions with no price bands for price discovery of investment holding companies.

IndusInd Bank, Cipla, Tata Steel, Adani Ports SEZ and Coal India Ltd were among the top losers on NSE.

The Nifty Realty index was trading 0.94 per cent down at 1121.3.

The Nifty Pharma index was trading 0.1 per cent down at 19509.0.

A family feud within India's Kalyani Group has escalated, with sibling rivalry between Bharat Forge Chairman Baba Kalyani and sister Sugandha Hiremath over control of Hikal. Legal battles, ownership disputes, and boardroom struggles have unfolded, shedding light on the family's complex financial legacy.

The biggest Nifty gainers were Tata Steel, L&T, JSW Steel, Titan Company and IndusInd Bank, while losers were Dr Reddy's Laboratories, Sun Pharma, HCL Technologies, Infosys and Britannia Industries

Sensex, Nifty updates on 25 Sep 2023: Benchmark indices Sensex and Nifty closed flat on Monday in a highly volatile trade amid a weak trend in global markets and continuous foreign fund outflows. After gyrating 461.6 points during the day, the 30-share BSE Sensex eked out a marginal gain of 14.54 points or 0.02 per cent to settle at 66,023.69. During the day, it hit a high of 66,225.63 and a low of 65,764.03. The broader Nifty settled marginally up 0.30 points at 19,674.55.

A new regulation concerning the disclosure of family arrangements by listed companies is exacerbating rifts between feuding shareholders. The latest example is Bengaluru-based TD Power Systems (TDPS), currently enmeshed in a legal dispute before the Karnataka high court over ownership of its 16 per cent equity. Vijay Kirloskar, who is asserting a claim over the 16 per cent stake held by Mohib Khericha (chairperson of TDPS) and Nikhil Kumar (managing director of TDPS and nephew of Kirloskar), has sent a letter to the market regulator, Securities and Exchange Board of India (Sebi), and stock exchanges. He accuses TDPS of insufficient disclosure concerning shareholder agreements.

The company plans to delist its equity shares pursuant to a Scheme of Arrangement with ICICI Bank.

The company said delisting proposal will provide the public shareholders an opportunity to realise immediate and certain value for their equity shares.

In this week, Foreign institutional investors (FIIs) sold equities worth Rs 4,643.05 crore, while domestic institutional investors (DIIs) bought equities worth Rs 3,026.27 crore.

Among sectors, Nifty Information Technology index shed 5.3 percent, Media index fell 1 percent and Metal index down 0.5 percent.

In Nifty the trend for the near term is likely to remain sideways to positive as long as it remains above the falling channel, says Rupak De, Senior Technical Analyst at LKP Securities.

Indian rupee lost 33 paise to close at 82.83 per dollar on February 10 against its February 10 closing of 82.50.

Among broader indices, BSE Largecap ended flat, while Smallcap and Midcap indices outperformed the main indices with a gain of 1.4 and 2 percent

Among sectoral indices, BSE Metal index sheds 4.3 percent, Power index fell 3.3 percent, and Energy and FMCG indices ended down 1 percent each. The BSE Realty index added 2.5 percent, Telecom index rose 2 percent and Capital Goods index gained nearly 2 percent

For the week, BSE Sensex lost 940.37 points or 1.54 percent to settle at 59,900.37 and Nifty50 fell 245.85 points or 1.35 percent to close at 17,859.45 levels.

Indian rupee ended flat at 82.72 per dollar on January 6 against its December 30 closing of 82.73.