Warburg Pincus affiliate Cloverdell Investment may offload 15.9 crore shares. The floor price is set at Rs 75 apiece. Cloverdell is hoping to rake in Rs 1,191.40 crore through the sale, reports said.
On the technical charts, Nifty formed a huge bearish engulfing candlestick. It broke the crucial support of 21,300 with a head and shoulder pattern. Now the next support lies at 21,000 coinciding with the 50-day moving average (DMA), says Sheersham Gupta, director and senior technical analyst at Rupeezy