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“Normally, the markets tend to bottom out around August-September and we see a good rally going into the year end in the mid-term years for the US markets and that should help us. What will really work out for us is to wait for July-August and let the central bank actions happen.”

The rupee Wednesday lost 0.4% and was the third-worst performing Asian currency after the Philippine peso and Thai Baht. On June 13, the local unit had hit 78.28/$, its erstwhile record low.

Shares of Banas Finance will turn ex-rights today. The company had announced a rights issue of 24 shares for every 25 shares held, offered at Rs 20 apiece.

Allsec Technologies will merge with technology-enabled staffing and outsourcing services firm Quess Corp in an all-stock deal.

Stocks that were in focus on Wednesday included names like JSPL which plunged by about 6 per cent, Jain Irrigations which was up more than 10 per cent, and ITI which rose more than 17 per cent.

​​"These plants will help in distribution of natural gas through liquefaction in new city gas distribution areas, liquefaction of gas at isolated fields and will support setting-up of LNG fueling stations and in bunkering. It will be first of its kind in the country to introduce portable and scalable liquefaction units." the company said.

The board also approved convening of an extraordinary general meeting on Friday, 15th July 2022, to seek approval of shareholders for the aforesaid preferential Issue. Earlier this week, the telco had announced that it intends to raise up to Rs 500 crore from its UK promoter.

As per the scheme, the outstanding of the state power distribution companies - including the principal and late surcharge - will be frozen. They will be given the flexibility to pay the outstanding amount in up to 48 installments. The generation companies will have to forego further late payment surcharge on the frozen amount.

Interest in distressed power companies has recently increased due to a shortage of power supply and the government nudge to state-owned banks to finance them.

In its report to the government, the committee opined that any exemptions on moratorium could hinder the IBC process. Under the law, the central government has powers to exempt any regulator or financial arrangement from the ambit of moratorium.