Sensex, Nifty firm up gains; IT shares show the way

Mumbai: Equity gauges Sensex and Nifty firmed up gains on Wednesday as a result of intense buying mainly in IT shares amid expectations of robust quarterly earnings and favourable economic data. At close, the Sensex quoted 134.32 points higher at 52,904.05 while Nifty advanced 41.60 points to end at 15,853.95 — the third straight session of gains for the index. PTI

New Delhi

Zomato initial public offer oversubscribed on Day 1

Food delivery platform Zomato’s IPO was oversubscribed on the opening day on Wednesday with retail investors bidding for 2.7 times the number of shares reserved for them. The offer received bids for 75.60 crore equity shares against an IPO size of 71.92 crore, stock exchange data showed. PTI

New Delhi

Wholesale inflation eases to 12.07% in June

The wholesale price-based inflation eased marginally to 12.07% in June as crude oil and food items witnessed some softening in prices. However, WPI inflation remained in double-digit for the third consecutive month in June, mainly due to a low base of last year. PTI

Mumbai

IL&FS expects to recover Rs58,000 cr by March’22

Infrastructure Leasing and Financial Services (IL&FS) on Wednesday said it expects to address Rs 58,000 crore or 95% of its estimated debt recovery target by March 2022. In April this year, the group had revised its estimates for aggregate debt recovery to Rs 61,000 crore beyond September 2021. PTI