Latest Stock Market News

Promoters held 74.99 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 8.83 per cent and 6.25 per cent, respectively.

The current management is working tirelessly to restore REL to its rightful position as a leading player in the BFSI domain and closing these legacy issues remains a top priority as the company embarks on a new journey with new businesses and fresh funding on the horizon, it said.

“Near term overall market outlook seems to be a bit risky given what is happening globally and people are just starting to recognise the threat of inflation and the impact of monetary policy on stock valuations. It will be tough for index stocks like ICICI Bank to stand alone and up when the overall market is down. But on any deep correction, ICICI Bank will be the best bet in banking.”

Among Sensex stocks, Tata Steel, Tech Mahindra, HUL, Wipro and IndusInd Bank were the top losers, shedding between 2-3 per cent. Other IT biggies like Infosys, TCS and HCL Tech also fared among laggards, down over 1 per cent each.

The development seemingly brings the curtain down on an acquisition plan that was announced in 2020 and then became the cause of a legal battle between Amazon and Kishore Biyani-founded Future that was fought all the way to the Supreme Court as well as an arbitration tribunal in Singapore.

“It is important that we have very clear standards on what ESG is. Today that very basic definition is missing and that is why we are also hearing binary views. We are hearing about green washing and so on and so forth. That needs to be corrected and we need to have clarity and uniformity on what we are doing for ESG; but as an element yes, ESG is important and ESG must form the centre of corporate strategy, it cannot be a bolt-on affair.”

As of 31-Mar-2022, promoters held 0.0 per cent stake in the company, while FIIs held 18.64 per cent and domestic institutional investors had 1.8 per cent.

Tech Mahindra Ltd., incorporated in the year 1986, is a Large Cap company (having a market cap of Rs 123607.50 Crore) operating in IT Software sector.

The Tata Group firm posted a 30 per cent fall in its net profit to Rs 52.46 crore for the quarter ended March owing to increased expenses. The company had clocked Rs 74.99 crore net profit during the January-March period of the preceding 2020-21 fiscal.

On the technical charts, the 200-day moving average of the stock stood at Rs 1213.03.