SENSEX, NIFTY SNAP THREEDAY RALLY ON GLOBAL SELLOFF
MUMBAI: Breaking its three-day rising streak, the BSE Sensex on Tuesday fell over 300 points on heavy selling by market participants, in step with a global sell-off despite strengthening rupee and easing crude prices. Besides, profit-booking in recent gainers too fuelled the downward trend. The 30-share Sensex, after starting off lower at 35,730.77, continued to slide as selling pressure picked up momentum and hit a low of 35,416.18, before settling 300.37 points, or 0.84%, down at 35,474.51. The index had risen 633 points in the last two sessions on the back of increased foreign fund inflows. The 50share NSE Nifty too dropped by 107.20 points, or 1%, to 10,656.20. Intra-day, it traded between 10,640.85 and 10,740.85.
Makemytrip appoints Vipul Prakash as COO
NEW DELHI: Online travel firm Makemytrip on Tuesday said it has appointed Vipul Prakash as chief operating officer(coo) for Makemytrip and Goibibo. In his previous role, Prakash served as senior vice president—beverage category for Pepsico-india, Makemytrip said in a statement. In the role as COO, Prakash will be responsible for developing and executing strategic direction and priorities of the company, it added. “We are confident that his proven track record and extensive experience will extend Makemytrip’s upward trajectory,” Makemytrip co-founder and CEO India Rajesh Magow said.
Zircon Tech gets Sebi’s go ahead for IPO
NEW DELHI: Zircon Technologies, engaged in the business of label printing for packaging of products, has received markets regulator Securities and Exchange Board of India (Sebi) go ahead to float an initial public offering (IPO). With this, the total number of companies getting clearance from Sebi to launch IPO has reached 70 so far this year. Zircon Technologies (India), which had filed draft papers with Sebi in September, obtained the regulator’s observations on November 12, latest update with the markets watchdog showed. Sebi’s observations are necessary for launch of any public issue such as IPO, FPO and rights issue.
Emami Realty appoints Nitesh Kumar as CEO
NEW DELHI: Emami Realty, the real estate arm of Emami group, has appointed Nitesh Kumar as its new chief executive officer. He was earlier with the Delhi-based real estate firm TDI group. Kumar, who succeeds Kalyan S Ramamurthy, has an experience of 25 years, of which he spent 19 years in the TDI Group. He quit TDI group in September. Emami group spokesperson confirmed his appointment. Emami Realty has been amalgamated in July 2016 with Emami Infrastructure and has a pan-india presence with over 36 million sq. ft development at different stages of planning, construction and delivery across West Bengal, Uttar Pradesh, Tamil Nadu, Andhra Pradesh, Orissa, Maharashtra, and Sri Lanka. COMBINED FROM AGENCIES