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Daily Money Show #433: Stock Market News
Original: # 433 Daily Money Show | Money Purse Stock Market News
Takeaway
Nykaa drop was just bonus ex-date math; Aurobindo Pharma faces material PMLA risk so handle with caution.
Summary
- Market wrap: Sensex -419 pts to 60,613; Nifty -128 pts to 18,028; midcap -0.94%, smallcap -1.20%, Bank Nifty -0.43%; pressure from weak Disney+Hotstar US numbers, US tech selloff, and pending US CPI release.
- Nykaa stock 'fall' was actually 5:1 bonus issue ex-date — not real correction; anchor lock-in period ended today, CNBC reports Citi selling ₹250 cr worth of shares, block deal executed.
- Tata Motors filed for ADR delisting from NYSE (target Jan 2023 onwards) since their goal of attracting FIIs has been met domestically.
- Axis Bank: Government of India OFS to sell 4.65 cr shares (1.55% stake) at ₹830.63 floor price — Nov 10 for non-retail, Nov 11 for retail; pressured stock.
- Aurobindo Pharma whole-time director Sarath Reddy arrested by ED under PMLA in Delhi liquor money-laundering probe — company confirmed in exchange filing; Tata Power Renewable got LoA for 150 MW solar project in Solapur from MSEDCL; Sadhana Nitro to scale OBDT capacity from 550 TPA to 2000 TPA, started PAP production via nitrobenzene route.
daily-marketnykaaaurobindo-pharma
Original description
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