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Japanese tech giant SoftBank, through its affiliate SVF Growth Singapore Pte, is likely to sell 1.1% stake in food delivery company Zomato through block deals on Friday.

While major lenders have offered term sheets of up to ₹6,000 crore, smaller funds have shown interest in providing loans ranging from ₹800 crore to ₹1,000 crore, contributing to the larger financing package.

Both the brokerages have raised the target price for the shares by 3-5%. The average target price for the shares is ₹5,490, estimates from Bloomberg showed. While this implies that the stock is unlikely to gain much from the current levels, the shares are showing strength on technical charts.

​​Investors can bid for a minimum of 43 shares and in multiples of 43 shares thereafter.

OFS in state firms returned between 25 and 500% in 11 companies of the 17 in which New Delhi chose this route to dilute ownership. Only one offer is presently trading below OFS price.

Under the new framework, Sebi has introduced incentives for large corporates in case of surplus in the requisite borrowings and moderated disincentives if they fail to raise at least 25 per cent of their incremental borrowings through debt securities.

The bank declared net profit of Rs 275 crore for the September 2023 quarter compared to Rs. 223 crore in the same period a year ago. The bank’s stock closed 1.35 percent higher on Thursday to close at Rs 26.35 a share. Net interest margin or NIM, a measure of profitability from interest income from loans and mortgages improved by 35 bps from 2.98% to 3.33% on a year-on-year basis.

"We are attentive to recent data showing the resilience of economic growth and demand for labor. Additional evidence of persistently above-trend growth, or that tightness in the labor market is no longer easing, could put further progress on inflation at risk and could warrant further tightening of monetary policy," Powell said in remarks to the Economic Club of New York.

"Nifty is trading near the 50-day SMA (Simple Moving Average). For the traders now, the 50-day SMA or 19625 would act as a trend decider level. Above the same, we could see a technical bounce back till 19700-19735 levels. On the flip side, below 19625 the index could retest the level of 19520-19480," said Shrikant Chouhan, Head of Research (Retail) at Kotak Securities.