Wipro shares fall 4% after a huge block deal - Shares of Wipro fell nearly 4% to ₹258 on NSE after a huge block deal. Around 0.4% stake of the company changed hands in a single block deal.
While buyers and sellers were not known immediately, the Azim Premji Trust, part of the promoter group that owns 74.3 per cent in the software services provider, plans to sell a minimum of 0.29 percent, or 1.78 crore shares through block deals, according to sources who spoke on the condition of anonymity as the information is not public yet. The stock traded at 16.5 times its estimated forward earnings per share compared to 15.2 times for the two-year historical average.
Opening Bell: Sensex, Nifty Open Lower Indian equity benchmarks opened lower, tracking its Asian peers amid signs China is trying to slow down the country’s equity rally and after cuts to economic forecasts at the European Central Bank reignited concern on global growth. The S&P BSE Sensex fell as much as 0.31 per cent to 36,610.47 and the NSE Nifty 50 fell as much as 0.39 per cent to 11,015. The
Rupee Opens: The Indian rupee opened lower by 17 paise at 70.17 per dollar on Friday versus previous close 70.
Asian markets slip: Asian stocks were headed for harm on Friday after the European Central Bank slashed its growth forecasts and launched an emergency round of policy stimulus, leaving investors fearing the worst for the global economy.
ONGC shares slipped by more than 3% to hit the day's low at Rs 147, to emerge among the biggest Nifty losers.
Wipro Shares | Market Update | Rupee | Asian Market | ONGC Shares
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