PFC directors questioned the legal constraints on transferring Tata Sons shares in the event of a default. ET had earlier reported that Tata Trusts had stated that Tata Sons shares are not freely transferable.
The results were marked by a 5.4% drop in consolidated revenues to 8,003 crore and a 480 basis points decline in operating margin to 15.5%. Consolidated net profit dropped 44% to 694 crore.
In the first five trading sessions of November, FPIs sold equities worth 19,993.7 crore ($2,374.6 million) net according to the data from NSDL. This compares with a massive selling of 44,914 crore ($5,352.1 million) in the first five sessions of the previous month, forming nearly half of the total selling worth 94,017 crore ($11,195.4 million) for the whole month.
In its consultation paper, Sebi has proposed that only agreements, including shareholder, joint venture and family settlement, that affect the management and control of the firm and are known to the firm should be considered price-sensitive and included in the illustrative list of events under the definition of UPSI.
The Indian government is considering raising the wage ceiling for the Employees' Provident Fund Organisation (EPFO) to 21,000 and lowering the employee count threshold for mandatory enrollment from 20 to 10-15. These measures aim to expand social security coverage for workers, aligning with the upcoming Social Security Code.
There is possibility of more consolidation or minor weakness towards the key supports of 23,900-23,800. One may expect emergence of buying again from near the supports.
The shift in stock sentiment was observed after the company reported a net profi t jump of 145% and asset quality improvement, said Rajesh Palviya, head of technical and derivatives research at Axis Securities. Traders can buy in the range of Rs 105-103 with a stop loss of Rs 100 for a target of Rs 110-112, he said.
The ECB has already lowered borrowing costs three times since June and is widely expected to do so again next month. Holzmann is one of the most hawkish officials and was the sole dissenter on the initial rate cut.
