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The 30-share BSE Sensex closed down 254.33 points at 59413.27

The company shareholders have given their approval for the creation of the new unit on September 28 during the course of the 36th annual general meeting.

“FDI will always be a very small part of total investment. Ultimately there is a lot we have to do by ourselves in the sense of making ourselves cost competitive.”

“Maruti, Tata Motors, Bharat Forge are the names that are likely to do much better once we have a little bit of clarity on this supply related and the chip related issues.”

Citing technical indicators, an analyst at Mumbai-based brokerage Choice Broking says the Sensex has the potential to deliver up to 13 per cent upside from its current level. He says a number of positive technical indicators point towards extreme bullishness.

Sebi in an interim order passed on Monday banned Ramit Chaudhri, solutions design head of Infosys, and his accomplice Keyur Maniar of Wipro in an insider trading case involving the company’s strategic partnership with Vanguard announced last year.

The issue includes a fresh issue of equity shares worth Rs 1,350 crore as well as an offer for sale of 40,07,500 equity shares by existing shareholders and promoters.

Inox Leisure Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 4776.12 Crore) operating in Media & Entertainment sector.

Moreover, the stock consolidated after taking a heavy beating on Tuesday, when it ended as the worst performer in the Sensex stock.

In the spot market, highest purity gold was sold at Rs 45,957 while silver was priced at Rs 59,628 on Tuesday, according to the Indian Bullion and Jewellers Association.