Eclerx services to consider buyback

The Markets Today in a nutshell

• Domestic benchmark indices ended on a negative note.
• Global stock markets tumbled after the US central banks raised its benchmark interest rate to the highest level in 15 years and signaled it will maintain higher rates throughout 2023.

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News you could use

? Zee Entertainment share price declines as IDBI Bank files application against the company
IDBI Bank filed an application against Zee Entertainment Enterprises claiming default of Rs 149,60,69,763. The bank’s purported claim arises under a Debt Service Reserve Agreement entered into by the bank and Zee for the financial facility availed by Siti Networks Limited.

? Eclerx services to consider buyback
Buy Back Committee of the Board of Directors of eClerx Services at its meeting held on December 15, 2022, approved December 27, 2022, as the ‘Record Date to determine the shareholders who would be eligible to participate in the Buy-Back. Additionally, it approved the final Buy Back price of Rs 1,750 per equity share and the aggregate amount of Buy Back is up to Rs 3,000 million.

? VRL Logistics stock price declines as promoter offloads stake
The promoter of VRL Logistics offloaded a 5.4 percent stake in the company for over Rs 273 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), Vijay Basavanneppa Sankeshwar sold 47.92 lakh scrips of the company, amounting to a 5.4 percent stake in the company.

News from the IPO world?

• Indegene files papers for around Rs 3,200 cr IPO
• Abans Holdings IPO subscribed 1.09 times on last day
• Landmark Cars IPO subscribed 51% on day three

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