The S&P BSE Sensex surged 364 points to end at 24,607 and the Nifty50 soared 107 points to close at 7,476.
If Cyrus's protestations of having no knowledge of his imminent dismissal are to be taken at face value, he was extraordinarily naive and insulated from the ground reality. There were enough straws in the wind to suggest that his relations with Ratan were fast deteriorating to a point of no return.
'China could place the currency on a par with global biggies. But it has to wait to be a serious challenger.'
Although now free, Mangal's ordeal may be far from over.
A reception often reserved for rockstars came the way of mining mogul Anil Agarwal when he started revealing nuggets of his ascent from a scrap-metal dealer to one of India's most prominent self-made industrialists on social media. And now he has been flooded with booking writing proposals and has even been offered money for a biopic. In February this year, Agarwal, 68, started tweeting his journey from Bihar to Mumbai first and then to London to head a globally diversified natural resources company with interests in zinc-lead-silver, iron ore, steel, copper, aluminium, power, oil and gas.
The rupee continued to slide against the pound sterling and finished at 102.64 as against 102.25 previously.
Infosys is likely to report strong revenue growth in the fourth quarter of FY19 on the back of momentum in the big deal space.
The rupee had slumped to its all-time closing low of 68.80 a dollar on August 28, 2013.
Indian equity markets are likely to witness volatility this week due to concerns over rising cases of coronavirus and expiry of derivatives contracts, analysts said. Further, progress surrounding the COVID-19 vaccine, related updates, US stimulus talks and global cues would dictate the market trend, traders said. "Going ahead, the market is likely to be volatile as sentiments oscillate between fear of rising COVID cases globally and optimism over vaccine progress. Investors would closely watch out development over the US stimulus talks," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Tata Motors has halved the volume outlook for its UK subsidiary Jaguar Land Rover Automotive (JLR) and warned of lower earnings as it sees the semiconductor shortage deepening in the September quarter of the current financial year, according to a notification issued by the company to the stock exchanges on Tuesday. The announcement caught investors unawares. They were hoping for a quicker recovery. Tata Motors' stock tanked 13 per cent (on July 6) from the day's high of Rs 358.10 and hit the lower circuit (Rs 311.45) in intra-day trades.
This is despite the private sector companies outperforming their public sector counterparts, reports Sachin P Mampatta.
Equity indices gave up early gains to close in the red for the third session on the trot on Wednesday, weighed by selling in banking and finance counters amid inflationary pressures and persistent foreign fund outflows. A weak rupee and lacklustre global cues also kept buying sentiment in check, traders said. The 30-share BSE Sensex opened on a firm footing but failed to hold on the momentum, finishing 237.44 points or 0.41 per cent lower at 58,338.93. On similar lines, the broader NSE Nifty dipped 54.65 points or 0.31 per cent to close at 17,475.65.
'Many of those who invested in NCD issues are those who traditionally put their money in fixed deposits...'
Sensex lost 76 points to end at 25,589 while Nifty shed 23 points to end at 7,649.
Arun Jaitley had proposed to set up a Public Debt and Management Agency.
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.
The IT major had reported a net profit of Rs 3,398 crore in the year-ago period, it said in a BSE filing.
John Bogle figured that cheap mutual funds, which just mirrored indices with little tracking error, would be a useful vehicle for wealth creation, recalls Devangshu Datta.
The US FOMC concludes its two-day meeting today while the Bank of Japan will start its two-day meeting today.
A plunge in fuel demand after the raging pandemic forced people to stay home and stifled the economy dealt a body blow to the firm's traditional cash cow oil refining and petrochemicals, even as consumer-facing businesses, which account for 35 per cent of the oil-to-telecom-to-retail conglomerate's revenues, continued to do well.
It has once again returned to strong growth after a brief hiatus, spurred by the return of investors' confidence (and cash) in India's online food ordering sector.
The BSE Sensex gained 104.63 points to end at 33,147.13, while the broader Nifty spurted 48.45 points to finish at 10,343.80.
The recently-created flexi-cap fund category is emerging as the hottest segment in the Rs 11-trillion equity mutual funds (MFs) space. Buoyed by the success of ICICI Prudential Flexicap Fund, other MFs are lining up new fund offerings (NFO) in this segment. Industry players say the flexi-cap category could emerge as the biggest segment in the equity MF space. Recently, ICICI Pru Flexicap's NFO collected a record Rs 10,200 crore.
Flipkart's co-founders Sachin and Binni Bansal made their debut at 86th position with a net worth of $1.3 billion each.
Bankers said as part of its debt reduction plan, Canada's Brookfield-sponsored India Infrastructure Trust acquired a pipeline for Rs 13,000 crore from East West Pipeline Ltd, an arm of Reliance Industries Holding Private Ltd, and all the liabilities are now off the subsidiary's books.
The capital markets regulator has incurred litigation expenditure in the range of Rs 4-5 crore (Rs 40-50 million) in each of the past three financial years, while such expenses could be even higher in the current fiscal ending this month.
Of the 80 new appointments, 51 women are becoming directors.
It appears that the BJP government has succeeded in managing the communication of the PNB scam in a manner that its adverse impact on its electoral fortunes is largely contained
But trading through the route still a minuscule portion of total turnover
FPIs sold shares worth a net Rs 1236.95 crore on Friday.
'Amitabh Bachchan Sir said some nice and encouraging things about the trailer, the way I directed it and, of course, about Abhishek's performance.'
Sensex ended above 26,000 led by telecom shares amid TRAI's spectrum sharing norms.
The NSE Nifty went past the 8,600-mark for the first time since November 1.
Wrapped in blue and orange wax paper, it's a familiar sight on the shelves of kirana stores across the country. Given how well travelled and mobile it is - starting its journey in Chennai, then turning to Singapore and now landing in Mexico - you could say it lives up to its name: Modern. Modern Food Enterprises, the company that manufactures and sells the bread in question as well as other bakery products under the "Modern" brand name, has recently been sold to the world's largest baking company, Grupo Bimbo, for an undisclosed amount. This latest transaction is the second change of guard at Modern within five years and third since the government divested the company at the turn of the century. At a time, when the National Democratic Alliance government has decided to privatise, or shut down, public sector enterprises except for those deemed strategic, Modern makes for a promising case study of how divestment led to the brand's growth, both in revenue and reach.
While UltraTech Cement has been the biggest value creator adding nearly Rs 99,000 crore to its market capitalisation, Grasim Industries has added around Rs 27,000 crore to its market cap.
Through the IPO, Burger King has raised Rs 450 crore, which will be used to rollout new outlets and retire debt.
ITC's net profit grew the fastest, followed by HUL and Asian Paints.
Risk-averse investors can hold up to 10 per cent of their portfolio in gold, while aggressive ones can keep five per cent.
