Sumitomo Mitsui Banking Corporation divested its 1.65% stake in Kotak Mahindra Bank for Rs 6,256 crore through block deals, with shares sold at Rs 1,940.8 apiece to various domestic and foreign investors. Kotak Mahindra Bank's shares closed higher, despite trading below key moving averages.
Privately owned and operated RaceTrac is expected to close the Potbelly acquisition in the fourth quarter, pending shareholder and regulatory approval. The merger would pair two venerable but very different companies.
Oracle shares soared 41% on Nasdaq after unveiling an AI Center of Excellence for healthcare. The rally pushed year-to-date gains above 100% and lifted co-founder Larry Ellison past Elon Musk as the worlds richest man. The surge was amid high volumes as nearly 43 million shares changed hands around 10:06 AM ET (7:40 India time).
Markets regulator Sebi on Wednesday cancelled the registration of 18 investment advisers for failing to pay renewal fees, a statutory requirement under its regulations.
