The board of the company will meet to consider and approve the proposal for issuance of non-convertible debentures by way of private placement in one or more tranches.

Besides, a number of board meetings are scheduled for today. Advani Hotels will meet to decide on an interim dividend. Also, Shree Securities will meet to consider stock split, while Murudeshwar Ceramics board will meet to mull issue of warrants.

The Nifty Auto index was trading 0.08 per cent up at 11391.45.

The Nifty IT index was trading 0.32 per cent down at 29377.1.

Shares of IIFL Wealth Management and Advani Hotels & Resorts will go ex-dividend today. While IIFL Wealth had announced an interim dividend of Rs 20 per share, Advani Hotels had announced an interim dividend of Rs 1.4 per share.

The transactions happened at around Rs 84 per share. Earlier in the day, the stock hit a 20 per cent upper circuit.

As of December quarter shareholding data, Delta Corp held a 33.63 per cent stake in Advani Hotels & Resorts. From the sale, Delta Corp collected Rs 5.86 crore.

Advani Hotels and Resorts rallied after RK Damani picked a stake in the company, whereas Solara Active Pharma continued to hit its upper circuit

On Monday, shares of Asian Hotels (North) and Royal Orchid Hotels rallied 20 per cent each to Rs 99.9 and Rs 98.40, respectively. EIH Associated Hotels and Advani Hotels and Resorts gained 16 per cent each to Rs 385.55 and Rs 84.50, respectively.

The Council approved a cut in tax rates on rooms with a tariff of Rs 7,500 and above to 18 percent and those with tariff below Rs 7,500 to 12 percent. GST on room tariff below Rs 1,000 has been scrapped.