BSE to auction investment limits for Rs 8,300-cr corp bonds

Leading bourse Bombay Stock Exchange (BSE) has said it will auction investment limits on Friday, to enable foreign investors to purchase corporate bonds worth over Rs 8,300 cr. The auction will be carried out on the BSE’s e-bidXchange platform from 3.30 pm to 5.30 pm, after the close of market hours.

The debt auction quota gives overseas investors the right to invest in the debt up to the limit purchased. A mock bidding session will be carried out on Thursday after the end hours of market to check the performance of the system.

Earlier, in this month, the corporate debt had attracted bids for Rs 12,005 cr from FPIs in an auction of investment limits for such securities, much higher than Rs 9,018 cr that was on offer.

Indian Oil Corpn’s shares fall after gaining 1% intraday

Shares of Indian Oil Corporation (IOC) spurted nearly 1 percent intraday on company’s announcement that it launches nation’s first electric vehicle charging station at a petrol pump in Nagpur. IOC shares were trading down by 0.05% at Rs. 395.80 at the mid-noon hours, on Wednesday.

The scrip touched an intraday high and a low of Rs. 399.10 and Rs. 392 respectively. In terms of equity volume, there were 1.81 lakh shares exchanged hands on the BSE. India's largest commercial enterprise, IOC, in collaboration with OLA, has launched the country’s first electric charging station at one of its petrol-diesel stations in Nagpur.

Wipro to open Rs 11,000 cr share buyback on Nov 29

IT major Wipro Limited has announced that it will launch its Rs 11,000-crore share buyback offer on November 29. Wipro will repurchase up to 343.75 mln fully paid-up equity shares, representing 7.06 percent equity capital of the company, for Rs 320 a unit.

The buyback offer is open to all fully paid-up equity shareholders with a face value of just Rs. 2 each, on a proportionate basis.

Share buybacks help improve earnings per share (EPS) and return surplus cash to shareholders, while also supporting share price during periods of sluggish market conditions