Birla holding firm Pilani to raise Rs 1,000 crore
Birla holding firm Pilani:
In the exchange on Tuesday, the company announced to the exchanges that Pilani Investment & Industries was holding some of the companies within the Birla group, by issuing commercial papers Rs 1,000 crore, a form of short-term bonds.
The fundraising, which has 59 percent shareholder shareholding control of Kumar Mangalam Birla, planned to invest in group firms and to raise the stakes of those firms, according to company capital.
The Pilani Investment shareholding a matter of legal proceedings for nearly two decades since Birlas on the loggerheads with Harsh Lodha who left with a major shareholder in the Birla family.
April 22nd Stock Market Update Sensex and Nifty
On the third day of the week, the stock market trading with the bullish trend. The Sensex traded with a gain of 382.03 points reached 31,018.74 level with 1.25% up. Whereas, Nifty traded with a gain of 95.15 points reached 9,076.60 level with 1.06% up.
In the border market, the S&P BSE Midcap traded with a gain of 9.69 points reached 11,486.75 with 0.084% up. Whereas, S&P BSE SmallCap traded with a loss of 6.23points reached 10,558.62 with 0.059% down. At the same time, Nifty bank traded with a gain of 8.25 points reached 19,417.60 with 0.04% up.
Top Gaining stocks: Zee Entertainment Enterprises, Reliance Industries, Hero Motocorp, Asian Paints, and Maruti Suzuki India Ltd.
Losing Stocks: Oil & Natural Gas Corporation, Vedanta, Power Grid Corporation of India, Bharat Petroleum Corp, Hindalco Industries, and Indian Oil Corporation Ltd.