Equity benchmarks continued to be rangebound after hitting record highs in opening. Investors awaited the outcome of two-day RBI monetary policy due on Wednesday. The 30-share BSE Sensex was up 9.78 points at 31,319.27 and the 50-share NSE Nifty fell 3.50 points to 9,671.60. TCS was the biggest gainer among Sensex stocks, up 4 percent followed by Infosys, HDFC and SBI while ITC, Asian Paints, ONGC, L&T, Adani Ports, Tata Motors and Bharti Airtel were under pressure. The broader markets also entered into consolidation. About 1,152 shares declined against 881 advancing shares on the BSE.
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SBI – SBI will raise Rs 15,000 crore by selling 52.2 million shares through QIP. The issue price of QIP is Rs 287 per share, in which LIC will bid highest.
ICICI Bank – ICICI Bank has got approval from board to sell its stakes in ICICI Lombard. The Board has approved the sale of shares through IPO. In this IPO, Fairfax and ICICI Bank will sell both the shares.
Wipro – Company has received the approval from Shareholders’ to increase share capital. The company will increase the share capital to 1127 crore.