Nelco hit an upper circuit limit of 10%

The Markets Today in a nutshell

• Markets end marginally higher amid volatility on first day of September series.
• Investors were cautiously optimistic as they anticipated the results of Federal Reserve Chairman Jerome Powell’s address at the Jackson Hole conference later today.

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News you could use

?Nelco hit an upper circuit limit of 10%
Intelsat, operator of one of the world’s largest integrated satellite and terrestrial network and leading provider of inflight connectivity (IFC), announced the beginning of Intelsat’s inflight connectivity services in Indian skies through an agreement with Nelco, India’s leading satellite communication service provider.

?Eicher Motors slipped 3.67 percent after CFO has tendered his resignation
The CFO of the firm Arunachalam’s resignation will take effect after working hours on 2 September 2022. The company stated that the appointment of a new CFO in his place would be intimated in due course.

?HDFC Bank fell after private lender announced that it has entered in a deal to acquire 9.94% stake
The company has entered into an indicative and non-binding term sheet with Go Digit Life Insurance, to acquire 9.94% stake in the company. In an exchange filing, HDFC Bank said that it has proposed an investment of between Rs 49.9 crore to Rs 69.9 crore, in two tranches, by subscribing to equity shares of the company, for an equity stake of up to 9.944% of the paid-up equity share capital of the company.

News from the IPO world?

• Sysma SGS Technology; made a strong debut with premium of 19% over its issue.
• Dreamfolks Services IPO; issue subscribed 50 times on the last day of IPO.

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