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Azim Premji, group entities offload Rs.7,300 crore shares in buyback

Thursday, September 12, 2019, 5:59 PM

Azim Premji and entities controlled by him have sold shares worth Rs.7,300 crore during Wipro's buyback offer that closed last month. Post the buyback, the promoter holding in the IT services company stands at 74.05% compared to 73.83% earlier. Notably, Premji has contributed $21 billion to his education-focused Azim Premji Foundation, which includes 67% of economic ownership of Wipro.
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RCom tanks over 48% as firm approaches bankruptcy court

Monday, February 4, 2019, 5:03 PM

Anil Ambani-controlled Reliance Communications (RCom) shares were down nearly 50% on Monday after the company decided to go for insolvency proceedings through NCLT following its failure to sell assets for paying back its lenders. RCom's per share price hit an intraday low of Rs 6 on the Bombay Stock Exchange. RCom has a debt of around Rs 46,000 crore on its books.
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Intel shares fall after downgrade: 'It takes forever to turn the ship'

Tuesday, December 4, 2018, 7:53 PM

Northland Capital Markets lowered its rating on Intel stock on Tuesday to underperform from hold, saying the chipmaker's weakened demand will hold back growth. "Intel maneuvers like a battle ship," Northland analyst Gus Richard said in a note to clients. "It takes forever to turn the ship and even longer to change momentum." Intel shares slipped 1.4 percent in premarket trading.

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