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“The Final hearing before the Ministry of Corporate Affairs in New Delhi for obtaining sanction on the Scheme of Arrangement for demerger is fixed on Thursday, December 29, 2022, as per the directives of MCA issued during the hearing held on 16th December 2022,” said the filing by the shipping company.

"Gold prices traded higher in the Asian trading hours. Comex gold prices are trading up by 0.32 per cent at USD 1,795 per ounce," said Dilip Parmar, Research Analyst at HDFC Securities.

"Shares of sugar companies rose intraday as news spread that the government might raise the sugar export limit following a January assessment of domestic production. Up till May 31, 2023, the government approved the quota-based export of 60 lakh tonnes of sugar in November," said Mohit Nigam, Fund Manager & Head - PMS, Hem Securities.

The company has proposed to buy back 10 lakh shares of face value of Rs 2 each at Rs 850 per share for an aggregate amount of Rs 85 crore through a tender offer process.

The government launched an offer for sale to offload 5% stake in the ticketing services major on December 15 and 16

The funds from the issue, if approved, will enable the company to strengthen its brand and distribution channels, fulfill its additional working capital requirements for expansion of its businesses and enable investments in product design upgradation and system technology upgradation among others.

Shapoorji Pallonji proposes to sell 47,33,515 shares or 2.5% stake, and Daruvala will offer 20,28,649 shares or 1.1% in the company

Nifty gained 151 points and settled at 18,420, while Sensex ended with gains of 468 points following heavy buying in banking, oil and FMCG shares after two sessions of losses.

Under the gold standard, the intrinsic value of a currency is used to fluctuate in tandem with its face value, causing most economies to operate with almost negligible inflation.

Market expectations about the peak Fed fund rate has not moved higher despite hawkish comments from Fed policymakers. Investors reckon that growth concerns will prompt the U.S. central bank to pivot to rate cuts in the later half of 2023.