The broader Nifty closed at 11,993.05, falling by 233.60 points, or 1.91 per cent. On the Sensex chart, Bajaj Finance was the top loser, dropping 4.63 per cent, followed by SBI, IndusInd Bank, Maruti, HDFC, Hero MotoCorp, Axis Bank, ICICI Bank and RIL
ICICI Bank's valuation tumbled Rs 6,883.44 crore to Rs 3,48,532.24 crore, taking the worst hit among the top-10 firms.
The sale of the Lincoln House in the Breach Candy area of south Mumbai, which used to house the US consulate, to the billionaire chairman of the Pune-based Serum Institute, makes it the largest real estate deal in the country's financial capital.
The funds will be used to expand the merchant offerings across India to equip them with technology and various other services.
The NSE 50-share Nifty also spurted by 98.10 points, or 0.97 per cent, to end at 10,211.80
At the end of trade on the BSE, RIL's market capitalisation was Rs 7,14,668.54 crore, while India's largest IT firm by revenue TCS slipped to the second spot with a valuation of Rs 7,06,292.61 crore.
The broader NSE Nifty reclaimed the key 10,100-mark and touched a high of 10,155.65, before finally settling at 10,124.35
Tata Steel was the top gainer in the Sensex pack, rallying nearly 4 per cent, followed by Bajaj Finance, M&M, Bajaj Finserv and Reliance Industries. NSE Nifty advanced 33.95 points to a fresh high of 16,563.05.
The broader Nifty, after struggling, also managed to end above the 10,200-level.
The NSE Nifty after shuttling between 10,408.65 and 10,224 points, ended 58.30 points, or 0.57 per cent, lower at 10,245.25.
Cooking gas LPG price on Wednesday was hiked by Rs 50 per cylinder, the third increase in rates since May on firming international energy prices. Non-subsidised LPG now costs Rs 1,053 per 14.2-kg cylinder in the national capital, up from Rs 1,003 previously, according to a price notification of state-owned fuel retailers. Common households pay non-subsidised rates for the cooking gas they buy, after the government restricted subsidy to just poor beneficiaries who got connections under the Ujjwala scheme.
Yes Bank was the biggest gainer in the Sensex pack, soaring up to 15.19 per cent, followed Tata Motors, IndusInd Bank, SBI, Bajaj Auto, Asian Paints, Axis Bank, Tata Steel and Maruti, rising up to 9.82 per cent.
The Nifty too closed lower by 80.75 points, or 0.73 per cent, at 11,049.65 after hitting a low of 11,033.90.
SoftBank-backed mobility firm Ola, announced expansion of its employee stock options (ESOP) pool to Rs 3000 crore. Ola is also allocating an additional Rs 400 crore worth of stocks to employees in the run up to its IPO. The allocation rewards Ola's high impact employees and will lead to long term wealth creation for them.
On the Sensex chart, Vedanta was the biggest loser with 4.66 per cent decline. Other major laggards were were Tata Steel, IndusInd Bank, HDFC Bank, Kotak Bank, Axis Bank, HUL and Bharti Airtel, losing up to 3.36 per cent.
Mahindra and Mahindra was the top gainer in the Sensex pack, advancing over 7 per cent, followed by Bajaj Finance, Reliance Industries, Maruti, TCS, HDFC Bank and Tata Steel. On the other hand, Bajaj Auto, HDFC, Bharti Airtel and HUL were among the laggards.
Ace investor Rakesh Jhunjhunwala, his wife Rekha Jhunjhunwala, and eight other individuals on Wednesday settled a case related to insider trading in the shares of Aptech Ltd after paying more than Rs 37 crore. The amount included settlement charges, disgorgement of ill-gotten gains along with interest charges. The other eight individuals who settled the case are -- Rajeshkumar Jhunjhunwala, Shushila Devi Gupta, Sudha Gupta, Ushma Seth Sule, Utpal Sheth, Madhu Vadera Jayakumar, Chugh Yoginder Pal and Ramesh S Damani, according to two separate orders passed by Sebi. The orders come after the settlement applications by these perons with Sebi proposing to settle, "without admitting or denying the findings of fact and conclusions of law, through a settlement order".
The overall wireless subscriber base increased to 114 crore at the end of June
He said companies with a good strategy, technology, capital, liquidity and a motivated team will emerge as winners after the crisis.
The Shiv Sena has decided to move its MLAs to a luxury hotel at Powai in northeast Mumbai ahead of the Maharashtra Legislative Council polls, a party leader said on Friday, as the ruling coalition spearhead treads a cautious path after being outsmarted by the BJP in the last week's Rajya Sabha polls.
All Chinese nationals on the board of digital payments firm Paytm have been replaced by US and Indian citizens, while there is no change in existing shareholding, according to a regulatory filing of the company. Alipay representative Jing Xiandong, Ant Financial's Guoming Cheng, and Alibaba representatives Michael Yuen Jen Yao (US citizen) and Ting Hong Kenny Ho have ceased to be directors of the company, as per the regulatory document. According to a source, Paytm now has no Chinese national on its board.
Top gainers in the Sensex pack included Yes Bank, Sun Pharma, IndusInd Bank, Tata Steel, HUL, Vedanta, Tata Motors, ICICI Bank, ITC, HDFC and Bajaj Auto, that rose up to 3.75 per cent.
The NSE Nifty settled the day 96.80 points, or 0.94 per cent lower, at 10,224.95
The bank has already set up 68,000 'Yono cashpoints' and is in the process of scaling it up massively to over 1 million in the next 18 months, which will make the necessity to have a card even less.
Investors turned cautious after India's trade deficit widened to a more than three-and-a-half-year high of $16.6 billion due to costlier crude oil imports
According to JP Morgan, it seems that Jio is willing to go for the jugular in chasing market share if this hurts some of its standing rivals like Vodafone and Idea to a point from where they find it difficult to fight back.
Revenue up 15.8% at Rs 34,261 crore over year-ago period.
India's largest telecom operator Reliance Jio gained over 79 lakh mobile users in March, comfortably surpassing the combined net adds by rivals Bharti Airtel and Vodafone Idea during the month, according to data released by TRAI on Friday. Bharti Airtel added 40.5 lakh wireless users, and interestingly Vodafone Idea gained 10.8 lakh customers during March (compared to the previous month). Reliance Jio added a staggering 79.18 lakh wireless subscribers in March, taking its customers base to about 42.29 crore.
Shares of ICICI Bank may outperform those of HDFC Bank in the near-term, analysts said recently, after the Sandeep Bakhshi-led private sector lender reported a strong set of numbers for the July to September quarter (Q2) of financial year 2023-24 (FY24). The result, they said, reiterated that ICICI Bank is maintaining a sustainable and prudent growth led by tech-driven initiatives as against HDFC Bank, which is facing merger related challenges. According to analysts at Prabhudas Lilladher, ICICI Bank is valued at par with HDFC Bank at 2.2x/1.9x on FY25/26E core adjusted book value (ABV) basis.
Reliance Jio has paid about Rs 10,700 crore to the telecom department towards outstanding amount for spectrum acquired in 2016 auction, sources said. The payment was made by Jio last week, sources added. With this, the company has made full payment with regard to spectrum bought in 2016 auction, and the outstandings now pertain to 2014, 2015 and 2021 auction.
Among the Sensex firms, Bajaj Finance emerged as the biggest gainer by climbing 2.95 per cent. Tata Motors, Bajaj Finserv, IndusInd Bank, Sun Pharma, Mahindra & Mahindra, State Bank of India, Larsen & Toubro, HDFC, HDFC Bank, Maruti, Reliance Industries and Bharti Airtel were the other major winners. HCL Technologies, Axis Bank, ICICI Bank, Tech Mahindra and Titan were among the laggards.
The members of the Reserve Bank of India's (RBI's) Monetary Policy Committee (MPC) voiced different views on the interest rate and stance, with two of them indicating they may not vote for further rate increases even if Governor Shaktikanta Das and Deputy Governor Michael Patra maintain bringing down inflation as their primary objective, the minutes of the December review of the monetary policy showed. The other two members remained neutral. The MPC increased the policy repo rate by 35 basis points (bps) - which was lower than the previous three hikes of 50 bps. The repo rate has been hiked by 225 bps to 6.25 per cent since May this year.
The government on Tuesday announced a Rs 200 per cylinder cut in prices of domestic cooking gas as it looked to counter the cheaper LPG promise of the Congress in upcoming assembly elections in states like Madhya Pradesh.
IndusInd Bank was the top laggard in the Sensex pack, sinking over 12 per cent, followed by Bajaj Finance, ICICI Bank, Axis Bank, M&M, Tata Steel, ONGC and Maruti. On the other hand, Bharti Airtel, Hero MotoCorp and Nestle India were the gainers. NSE Nifty plummeted 280.40 points, or 3.03 per cent, to 8,981.45.
HDFC Bank was the top gainer in the Sensex pack, rallying nearly 4 per cent, Infosys jumped over 3 per cent. Sun Pharma, NTPC, HCL Tech, Tech Mahindra, HDFC, RIL and TCS also closed with gains. On the other hand, Axis Bank was the top laggard, followed by ITC, ICICI Bank, IndusInd Bank and Maruti Suzuki.
The wider NSE Nifty too fell by 61.40 points or 0.57 per cent to end at 10,618.25.
The broader NSE Nifty shuttled between 10,784.65 and 10,689.80, before ending 21.30 points, or 0.20 per cent, lower at 10,718.05.
State Bank of India was the top gainer, as it climbed 4.46 per cent after it slashed interest rate on savings account deposits by 50 bps to 3.5 per cent on balance of up to Rs 1 crore.
Financial stocks led by Axis Bank, SBI and ICICI Bank hogged the limelight, rising by up to about 9 per cent.
An official said that there were stringent norms at MDL on data security.
