Nifty, Sensex Indecisive – Weekly closing report
Moneylife Digital Team
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We had mentioned in last week’s closing report that Nifty, Sensex were directionless. The major indices faced a correction this week. The trend of the major indices in the week is given in the table:
On Monday, the indices suffered a major correction and ended with huge losses. On the NSE, there were 241 advances, 1,740 declines and 313 unchanged.
Flipkart announced that it will work with Adani Logistics to strengthen Flipkart’s supply chain infrastructure and further enhance its ability to serve its rapidly growing base of customers. In addition, Flipkart will set up its third data centre at Adaniconnex’s Chennai based facility.
Quess Corp acquires residual 30% stake in Conneqt
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Quess Corp acquires balance 30% stake in Conneqt
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Wipro, Ashoka Buildcon, National Fertilizers in focus
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Quess Corp, a business services platform, said it will acquire the residual 30% equity stake in Conneqt Business Solutions from Tata Sons for ₹208 crore.
Quess had acquired 51% of Conneqt in November 2017 and further increased its stake in Conneqt from 51% to 70% in May 2019 via infusion of primary capital, which was later used to fund its acquisition of Allsec Technologies, a CLM and HRO services provider.
The combined strength of Conneqt and Allsec would provide Quess a sizeable base to expand its CLM and BPM capabilities with emphasis on digital services and international expansion, said Quess in a statement.