PVR stock price jumps as shareholders approve merger

The Markets Today in a nutshell

• Domestic benchmark indices ended on a positive note.
• The International Monetary Fund on Tuesday cut its global growth forecast for next year to 2.7%. the IMF predicted that India will continue to remain on track to become one of the fastest-growing economies in the world.

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News you could use

?Wipro’s net profits drop 9.6% to Rs. 2,649.1 crore
Wipro reported a weaker-than-expected second quarter profit hit by higher employee expenses. The company also sighted low earnings from clients in US. The company’s quarterly expenses jumped 19.2 percent while staff attrition in the IT services business fell to 23% from 23.3% at the end of September.

?Coal India signs agreements with 3 PSUs for gasification projects
State-owned Coal India Ltd has signed agreements with three public sector undertakings—Bharat Heavy Electricals Ltd (BHEL), Indian Oil Corporation Ltd, and GAIL (India) Ltd—to set up four surface gasification projects. It aims to gasify 100 million tonnes (mt) of coal into syngas for use in downstream production of value-added chemicals in the next eight years to reduce the import of crude oil, which is used to produce syngas.

?PVR stock price jumps as shareholders approve merger
The company’s shareholders approved the merger with Inox Leisure. The announcement was notified in a regulatory filing by Inox Leisure. The two boards of the country’s largest multiplex chain operators approved an all-stock merger to create a film exhibition entity with a network of more than 1,500 screens.

News from the IPO world?

• Tracxn Technologies IPO subscribed 2 times on Day 3
• Rs. 12,000 crore IPOs are coming to Dalal Street
• Kaynes Technology gets SEBI’s go ahead to float IPO

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