March 20 saw UltraTech Cement’s shares open at Rs 9,535, registering a notable increase of over one percent in early trading. This surge comes on the heels of the Competition Commission of India (CCI) granting approval for UltraTech Cement’s proposed acquisition of Kesoram Cement’s business segment from Kesoram Industries. The acquisition, which specifically targets Kesoram’s … Read more
March 19 witnessed a significant uptick in the share price of One 97 Communications, the parent company of Paytm, as it soared nearly 5% following its previous session’s gains. Notably, the stock has witnessed a remarkable 14% surge over the past three days. This bullish momentum coincides with Yes Securities’ decision to upgrade the payments … Read more
Amidst a significant market downturn, the Nifty Smallcap 250 index has witnessed a substantial decline of over 8 percent, while the Nifty Midcap 150 index has also experienced a downturn of 5 percent over the past month, reflecting a pronounced selloff across the broader market. The recent market correction has instilled apprehension among retail investors, … Read more
As trading commenced on Tuesday, benchmark indices witnessed a downward trend, with the Nifty 50 slipping by 108.30 points or 0.49 percent to reach 21,947.40 by 9:49 am. Similarly, the BSE Sensex saw a decline of 333.07 points or 0.46 percent, trading at 72,415.35. Investors observed cautious trading amidst prevailing market conditions, with the indices … Read more
Japan’s central bank made a historic move on Tuesday by abandoning its long-standing negative interest rate policy, signaling the start of a gradual retreat from one of the globe’s most assertive monetary easing initiatives. In a significant shift, the Bank of Japan opted to elevate the policy short-term rate from its previous level of -0.1 … Read more
In a recent exchange filing, the Adani Group vehemently refutes media assertions regarding an expanded investigation by US prosecutors into alleged bribery activities within India. The group adamantly rejects the claims made in a Bloomberg report, labeling them as “false”. Adani Enterprise Limited, a key entity within the conglomerate, went further to emphasize that they … Read more
According to reports, Kishore Biyani, the founder of Future Group, has put forth an intriguing proposition to settle the Rs 571-crore debt owed by Bansi Mall Management, the entity that owns SOBO Central Mall in Mumbai’s Haji Ali. Biyani’s offer amounts to Rs 476 crore, aimed at reaching a one-time settlement with a consortium of … Read more
Veritas, collaborating with Genesys International Corporation Limited, has clinched a significant contract from the Brihanmumbai Municipal Corporation (BMC), cementing its foothold in urban development initiatives. This partnership is tasked with spearheading a transformative project aimed at developing, implementing, and maintaining a cutting-edge 3D City model along with change detection leveraging Geospatial Technology, catering to BMC’s … Read more
On March 19, Aditya Birla Sun Life AMC experienced a notable 2 percent decline in its opening trading session. This drop came in the wake of an announcement made by the company the previous day, where it disclosed that its promoters, Aditya Birla Capital and Sun Life (India) AMC Investments, had given the green light … Read more
Catch the Latest Stirring Developments as Top Companies Take Center Stage Before the March 19, 2024 Opening Bell. These developments across various sectors reflect ongoing changes and initiatives within the Indian market, shaping investor sentiment and market dynamics.
Gold prices saw a modest uptick on Monday amidst market apprehension ahead of significant events later in the week, notably the Federal Open Market Committee (FOMC) announcement scheduled for Wednesday. Early afternoon trading in New York witnessed XAU/USD edging up by around 0.2%, finding support around the $2,150 mark. With the March meeting of the … Read more
Tata Consultancy Services (TCS) saw a notable decline of over 2% in its share value on March 19, as a substantial transaction unfolded. A staggering 2.02 crore shares, accounting for 0.6% of TCS’s equity and valued at an impressive Rs 8,900 crore, changed hands at an average price of Rs 4,043 per share. The seller … Read more
Tata Sons is poised to initiate the divestment of a 0.65 percent stake in Tata Consultancy Services (TCS), its flagship company, through an open market transaction slated for Tuesday, as per information provided in a term sheet. The plan involves the sale of 23.4 million shares at a floor price of Rs 4,001 per share. … Read more
Narayana Murthy, the co-founder of Infosys, has made a substantial gesture by gifting his four-month-old grandson, Ekagrah Rohan Murty, 15 lakh shares valued at over Rs 240 crore. In a recent off-market transaction reported in regulatory filings, the 77-year-old transferred the shares to his grandson, representing 0.04 percent of Infosys’ stake, on Friday. This significant … Read more
Procter & Gamble India announced on Monday the appointment of Kumar Venkatasubramanian as its new chief executive officer, effective from May 1, 2024. Venkatasubramanian, aged 48 and an alumnus of IIM Calcutta, began his journey with P&G in the sales team in India in 2000. With over two decades of experience, mostly in India across … Read more
In January, Russia upheld its status as India’s leading crude oil supplier, contributing to almost a third of the country’s total crude imports, according to recent data from the commerce ministry. With a surge of 41% year-on-year, the value of crude oil imports from Russia reached a significant $4.47 billion. Sequentially, these imports rose by … Read more
Morgan Stanley’s chief Asia economist has expressed reservations regarding India’s ability to match China’s remarkable 8%-10% economic growth rates over the long term, despite maintaining optimism about India’s prospects. In an interview with Bloomberg Television, Chetan Ahya indicated that India’s economy is expected to sustain a steady growth rate of 6.5%-7% over the long term. … Read more
On March 18, Tata Steel’s stock surged by nearly 5 percent amidst substantial trading activity and numerous significant transactions, propelled by the vigorous growth in China’s industrial output. By 12:20 pm, Tata Steel’s stock was trading at Rs 148.6, marking a 4.9 percent increase from the previous day’s close. The trading volume for Tata Steel … Read more
Pratham EPC Projects witnessed an impressive debut on the NSE SME platform, with its shares commanding a 51 percent premium over the issue price of Rs 75, reaching Rs 113.30 on March 18. This listing has outperformed the grey market expectations, which had pegged the potential listing price at Rs 102. The grey market serves … Read more
Torrent Power witnessed a significant surge of almost 7 percent during the early trading hours on March 18, buoyed by the news of securing a letter of award for the development of 300 MW wind-solar hybrid projects. As of 9:42 am, Torrent Power shares were trading at Rs 1,226.60 on the NSE, indicating a strong … Read more