UltraTech said its board will meet on Tuesday to consider a proposal from Samruddhi Cement to merge the cement business of group with itself.
Larsen & Toubro will sell its 11.49 per cent stake in the Aditya Birla Group-owned UltraTech Cement in the open market, after the latter waived its first right of refusal to buy the stake.
In June, Sensex went up 6.6% and Nifty 6.9%, their best monthly gains since December 2023.
Domestic markets conduct a special one-hour Muhurat trading session on Diwali every year to mark the beginning of the traditional Hindu calendar year, called 'Vikram Samvat'.
The cumulative m-cap of the companies listed on the BSE soared to a new peak of Rs 82,02,907 crore at 1200 hours.
Market benchmarks gave up intra-day gains to close in the red for the sixth session on the trot on Friday, capping a bruising week which saw a massive dash for safety amid rate hikes by global central banks and fears of slowing growth.
Investors cheered a sharp decline in the Current Account Deficit, which stands at a 4 year low as exports picked up and gold imports reduced.
ICICI Bank was the top loser along with index heavyweights RIL, ITC and HDFC.
Investor wealth zoomed over Rs 10.48 lakh crore in two days as the Budget-driven market euphoria continued to charge bulls on Tuesday.
Among key stocks, Tata Motors, Hero MotoCorp, L&T, Wipro, ICICI Bank, Dr Reddy's Labs and ICICI Bank, all up between 1%-3%
Capital goods shares continued to trade firm in late noon despite weak market trend on the back of encouraging core sector growth in February.
The main losers on the Sensex were Tata Steel, Hero Moto, BHEL, ONGC & Maruti Suzuki.
Engineering conglomerate fended off three corporate raids but emerged stronger.
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