L&T has acquired Cafe Coffee Day-owner V G Siddhartha's 20.32 per cent stake in Mindtree and has also placed an order with brokers to pick up another 15 per cent shares from the open market.
Benchmark Sensex declined 224 points on Wednesday, snapping its four-session winning streak, mainly due to sell-off in IT and pharma counters amid rising concerns over possible aggressive interest rate hikes to tame high inflation. The 30-share index rebounded more than 1,200 points from the early lows before settling at 60,346.97 points, a total loss of 224.11 points or 0.37 per cent compared to Tuesday's closing level. The broader NSE Nifty closed lower 66.30 points or 0.37 per cent at 18,003.75 points.
The deal size and project completion deadline were not disclosed in the announcement, but people in the know have pegged the deal at over Rs 6,000 crore, reports Aneesh Phadnis.
Bajaj Finserv was the top gainer in the Sensex pack, rallying around 7 per cent, followed by Bajaj Finance, HDFC, L&T, ICICI Bank, Sun Pharma and NTPC. On the other hand, Tech Mahindra, ITC and M&M were the laggards.
Fuelled by the $57.8-billion merger of HDFC twins (HDFC Ltd and HDFC Bank), M&A (merger and acquisition) transactions in India touched a record high of $124.2 billion in the first half of 2022-23. Bankers said with several transactions, including the government's stake sale in IDBI Bank and Hindustan Zinc in the pipeline, the ongoing financial year will end up as the best year for M&A activity in the country. Apart from the HDFC transaction, the $6.5-billion acquisition of Holcim stake by the Adani family and L&T's $3.2-billion acquisition of Mindtree added to the record transactions in the first half of FY23.
HCL Tech was the top loser in the Sensex pack, dropping 1.80 per cent, followed by Reliance Industries, HDFC Bank, TCS, Tech Mahindra, L&T, Maruti, Bajaj Finance and HDFC.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Bajaj Finance was the top gainer in the Sensex pack, rising around 3 per cent, followed by Bharti Airtel, Sun Pharma, Reliance Industries and SBI. NSE Nifty advanced 184.60 points to 16,955.45.
A key feature of the new version is to identify the people transacting on its portal by linking each user ID with the person's permanent account number (PAN), followed by a two-factor authentication through mobiles and email IDs. Those who cannot complete the KYC requirements cannot use the portal.
With the Big Four information technology services players having disappointed the Street, the focus is on mid-cap IT players who seem to have met expectations, according to analyst reports and management commentary on the demand environment.
Equity benchmark Sensex climbed 154 points to end at a fresh all-time high on Monday, tracking gains in ICICI Bank, L&T and Kotak Bank amid persistent foreign fund inflows and a largely positive trend in global markets.
Kotak Bank was the top loser in the Sensex pack, dropping over 2 per cent, followed by Sun Pharma, Bajaj Finserv, L&T, Bajaj Finance, HUL and Titan.
Bharti Airtel was the top gainer in the Sensex pack, rising around 3 per cent, followed by HUL, HDFC, ITC, IndusInd Bank, SBI, Sun Pharma, ONGC, Tech Mahindra, L&T and Asian Paints. On the other hand, Kotak Bank, Nestle India, Tata Steel, Bajaj Finance and HDFC Bank were among the laggards.
Ultratech Cement was the top gainer in the Sensex pack, surging 4.37 per cent, followed by Tata Steel, IndusInd Bank, L&T, Reliance Industries, SBI, HDFC, HDFC Bank, Axis Bank, ONGC and ITC.
IndusInd Bank was the top gainer in the Sensex pack, spurting over 5 per cent, followed by Bajaj Finserv, HCL Tech, Bajaj Finance, Kotak Bank and Axis Bank. NSE Nifty jumped 203.15 points to 17,780.00.
Bharti Airtel was the top loser in the Sensex pack, dropping 2.23 per cent, followed by Reliance Industries, L&T, Sun Pharma, HDFC Bank, Maruti, Titan and Kotak Bank.
Indian IT players, over the past few years, have pressed the paddle on re-training of their employees as new technologies take centre-stage.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
IndusInd Bank was the top gainer in the Sensex pack, surging around 5 per cent, followed by Sun Pharma, Reliance Industries, Infosys, Kotak Bank and Tech Mahindra. On the other hand, HDFC, PowerGrid, Axis Bank, ICICI Bank, NTPC and L&T were among the laggards.
Tie-up with MBDA will have Indian partner as majority shareholder; first product likely in 2 years.
Tata Steel was the top loser in the Sensex pack, shedding around 3 per cent, followed by Tech Mahindra, HCL Tech, IndusInd Bank and Reliance Industries. NSE Nifty fell by 40.70 points to 17,888.95.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Market benchmark BSE Sensex rallied 635 points to 59,942 in the opening trade of the special Muhurat session on Monday to mark the beginning of Hindu Samvat year 2079. The 30-share index was trading higher by 635.12 points, or 1.07 per cent, at 59,942.27 in the first few minutes of trade. Similarly, the broader NSE Nifty surged 192.20 points or 1.09 per cent to 17,768.50.
TCS was the top gainer in the Sensex pack, rising around 2 per cent, followed by ONGC, SBI, L&T, Infosys, HCL Tech, ICICI Bank and Axis Bank. The broader NSE Nifty surged hit a record high of 14,109.40.
PowerGrid was the top loser in the Sensex pack, shedding over 4 per cent, followed by Reliance Industries, Asian Paints, Kotak Bank, Tech Mahindra and Bharti Airtel. NSE Nifty tanked 204.95 points to 17,196.70.
HCL Tech was the top gainer in the Sensex pack, rallying around 5 per cent, followed by Tech Mahindra, Infosys, PowerGrid, Sun Pharma, L&T and Nestle India. NSE Nifty climbed 137.90 points or 1.03 per cent to 13,466.30.
HDFC was the top gainer in the Sensex pack, rising around 3 per cent, followed by Bajaj Finance, HDFC Bank, IndusInd Bank, PowerGrid, UltraTech Cement, TCS, Tech Mahindra and L&T. On the other hand, ONGC, Maruti, Tata Steel, HUL, Bajaj Auto and Sun Pharma were among the laggards.
L&T set up the Armoured Systems Complex to manufacture and integrate advanced armoured platforms, such as self-propelled artillery Howitzers, future infantry combat vehicles, future-ready combat vehicles and future main battle tanks.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Equity investors' wealth jumped by over Rs 10.19 lakh crore in the three-day market rally to Monday. On Monday, the 30-share BSE Sensex soared by 1,041.08 points or 1.90 per cent to settle at 55,925.74. In three days, the bechmark has zoomed 2,176.48 points or 4 per cent. Helped by jump in equities, the market capitalisation of BSE-listed firms went up by Rs 10,19,936.84 crore to Rs 2,58,47,092.40 crore in three days.
HDFC was the top gainer in the Sensex pack, surging over 5 per cent, followed by M&M, L&T, Tata Steel, Bajaj Finance, HDFC Bank and Sun Pharma. On the other hand, IndusInd Bank, Hero MotoCorp, Bharti Airtel and Asian Paints finished in the red.
Top gainers in the Sensex pack included Hero MotoCorp, Reliance Industries, ICICI Bank and L&T, while Tata Steel, IndusInd Bank, ONGC, SBI and Infosys ended significantly lower.
Among Sensex stocks, L&T was the top loser, shedding 2.19 per cent, followed by ONGC, Titan, Sun Pharma, Hero MotoCorp and Infosys.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Asian Paints, IndusInd Bank, Nestle India, Maruti, Hero MotoCorp and HUL were also among the gainers, spurting up to 5 per cent. On the other hand, ONGC, L&T and PowerGrid ended in the red. NSE Nifty surged 205.85 points, or 2.29 per cent, to finish at 9,187.30.
Top gainers in the Sensex pack included ICICI Bank, Infosys, HDFC, IndusInd Bank, Tata Motors, Kotak Bank, Axis Bank, L&T, Yes Bank and HUL, spurting up to 2.64 per cent.
M&M was the top gainer in the Sensex pack, soaring over 10 per cent, followed by L&T, IndusInd Bank, Bajaj Finserv, SBI, Bajaj Finance, ICICI Bank and Kotak Bank. On the other hand, HUL, ITC, Titan TCS and Bharti Airtel were among the losers.
Equity investors have become poorer by more than Rs 18.74 lakh crore as the market continued to remain bearish for the fifth session on the trot on Thursday. The 30-share BSE Sensex tumbled 1,158.08 points or 2.14 per cent to end below the 53,000-level at 52,930.31 points on Thursday. Markets have been falling for five straight sessions and the BSE benchmark has tumbled 2,771.92 points or 4.97 per cent during this period.
Though the government says public and private shipyards compete on equal terms, public shipyards feast at the high table with the defence ministry, with only scraps being tossed to private shipbuilders.
Bajaj Finance was the top gainer in the Sensex pack, surging around 9 per cent, followed by IndusInd Bank, L&T, Bajaj Finserv, HDFC, SBI, ICICI Bank, HDFC Bank, ONGC and Axis Bank. On the other hand, Tech Mahindra, HCL Tech, Infosys, Nestle India, Sun Pharma and TCS closed in the red.
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