Wipro shares fall 8% Sebi Eased Norms of share auction

Nifty ended with positive note on Friday with 0.42% gain, Oil stock jumps due to diesel price hike and lift Indian Stock market.

Wipro shares fall 8% after reporting its Q3 earning for Oct-Dec, Wipro’s Q3 net profit up 18% which is less market expectations. Wipro indicating improved global demand for software services, but investors were unimpressed and pull down stocks.

Security Exchange board of India(SEBI), eased norms of share auction on Friday to make OFS (offer for sale) mechanism more economical efficient and transparent. SEBI remove the 25% margin money requirement for entities biding through auction route. SEBI has provided an option to institutional investors to bid for shares without paying any marginal Money.

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