Mahindra Group has also appointed its CFO Manoj Bhat, as the new CEO of Mahindra Holidays Resorts India Ltd. The transition in leadership is scheduled for May 17, 2024.
Dipan Mehta says: “Whatever cash flows are coming through, I am just sitting on it. I am not investing afresh. Whenever a company is not living up to its potential, like something in speciality chemicals has largely underperformed, largecap tech has underperformed, but I still am positive on that sector.”
The NSE Nifty 50 index closed 0.72% lower at 19,512, while the S&P BSE Sensex fell 0.73% to 65,512. All the 13 major sectoral indices logged losses. High-weightage banks and oil & gas lost over 1% each, while public sector banks shed 3.09%
US stocks closed sharply higher on Friday with technology shares, as investors assessed Friday s jobs report that showed US hiring rose broadly in September but also that wage growth was slowing.