The company informed the exchanges about the proposal from the Embassy group to merge 11 Embassy assets worth 61.9 million square feet into Indiabulls Real Estate.

The board has constituted a committee of the company to appoint merchant bankers, lawyers and valuers to arrive at the swap ratio and definitive agreements. The same will be placed before the board in four weeks.

Post filing of the scheme of amalgamation with relevant regulatory authorities, Sameer Gehlaut as promoter will initiate the process of depromoterisation along with existing promoter group entities.

Once the scheme is effective, Jitendra Virwani will be the new promoter of the amalgamated company along with his other promoter entities.

Shares fell as much as 5% to Rs 57.65 and are down for the fourth straight day.

• Benchmark indices gain after initial fluctuation
• Nifty up 0.5% at 10,674
• Sensex up 0.74% at 36,319
• Nifty Bank down 0.75% at 21,181
• Nifty Midcap Index down 0.3%
• Nifty Smallcap Index down 0.5%
• India Volatility Index down 2% at 25.76
• Nifty Media, FMCG and realty index fall over 1% each
• Nifty Metal index declines 1% as well
• Nifty I.T. continue to remain strong; up 5.1%
• Nifty Auto is the only other sectoral gainer; up 0.6%
• Infosys is the top Nifty gainer; up 11.85%
• Bharti Infratel is the top Nifty laggard; down 4%
• 531 stocks on the NSE trade with gains while 1,135 decline

India's currency opened flat in today's session after ending Wednesday's session with gains despite volatility in the equity markets.

The rupee opened at 75.20 against the U.S. Dollar as compared to Wednesday's close of 75.15. It was the second best performing currency in Asia on Wednesday.

India returned to a trade surplus for the first time in 18 years with imports falling more than exports. A goods trade surplus is not likely to continue, according to Barclays Bank, as domestic demand gradually recovers.

Yield on the 10-year government bond opened at 5.809% as compared to Wednesday's close of 5.813%.

Within the bond markets, traders will await any OMO announcements ahead of the sale of government debt worth Rs 30,000 crore on Friday.

• Revenue down 10% to Rs 697.9 crore
• Ebitda down 53% to Rs 38.4 crore
• Ebitda margin down to 5.5% from 10.7%
• Net loss of Rs 299.7 crore from net profit of Rs 41.92 crore
• Exceptional loss of Rs 293.29 crore as impairment charge post withdrawal of financial support to its material wholly-owned subsidiary Minda KTSN Plastic Solutions GmbH, Germany
• All numbers are consolidated and compared on a year-on-year basis

The company has informed the exchanges that its plant in Doddaballapur in Karnataka has been shut for operations till July 21, 2020 or until further orders from the Karnataka Government.

The state government has imposed a lockdown in certain parts of the state in the wake of a rise in new Covid-19 cases.

Shares fell as much as 3% to Rs 56.3. The stock has declined in three out of the four trading sessions this week.