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.
Billionaire Mukesh Ambani's four-year-old telecom venture Reliance Jio has been ranked the fifth strongest brand globally behind the likes of Ferrari and Coca-Cola. The Brand Finance's Global 500 ranking of the strongest brands globally, which determined the relative strength of brands, is topped by WeChat, according to its annual report on most valuable and strongest global brands.
The rate of price rise has been on a decline for the past four months.
Puri will hang up his boots this October as he will reach the maximum age limit of 70 for a chief executive officer of a private bank. Puri has been at the helm of HDFC Bank for the past 26 years, since its inception in 1994.
Bir Singh Yadav, from Bahlolpur village in Noida, enacted the "symbolic suicide" at the Dalit Prerna Sthal where he has been camping along with scores of protestors belonging to the Bharatiya Kisan Union (Lok Shakti).
The market breadth has turned sharply positive since May amid hopes that a decline in Covid-19 infections will lead to a revival in the economy. At 3.8, the advance-decline ratio (ADR) for May was the best since June 2020. So far this month, the ratio has remained above three - in simpler words, for every declining stock, there were nearly four advancing stocks in May and three this month. ADR is a popular market breadth indicator, with a ratio of more than two signalling an extremely bullish undercurrent.
Larsen & Toubro (L&T), India's largest construction and engineering player, has lost as many as 14 large orders in the country because companies that don't possess adequate technical expertise and experience, of late, have won the projects by bidding lower, claimed A M Naik, non-executive chairman of L&T. But the company has made up for the losses by winning projects overseas, where it has acquired a sizeable market share amid tough competition from large global players, he said.
The government is exploring legal options, including bringing an Ordinance, to tackle the problem of income-tax litigation on reassessment notices under old, time-barred norms, according to official sources. This has come in the wake of writ petitions filed by companies and individuals in recent weeks to challenge the validity of the notices issued by the tax department between April 1 and June 30 and under the old norms.
>With 40 out of 70 IPL 2022 games completed, the crucial playoff spots are slowly starting to take shape. Shailesh Karkera finds out how teams may fare in the crucial second half of IPL 2022.
'They thought the controversy would die down and they could release the film with the same title (Mental Hai Kya). But far from dying down, the controversy surrounding the title is growing.'
Both the exchanges advised their trading members to exercise additional due diligence while trading in illiquid stocks either on own account or on behalf of their clients.
'Mann's decision is a welcome move. The other three members of the panel, who have shown pro-new farm laws stance should also follow Mann's suit'
Paytm will look to raise up to $1.5 billion as part of primary share sale, leading up to its initial public offering (IPO), which is planned for November, a person familiar with the developments said. The company is looking to file its draft red herring prospectus (DRHP) by July, according to sources. According to this person, though the details of the listing are being worked out, Paytm may take the qualified institutional buyer (QIB) route to list and issue fresh equity to raise funds.
The broader Nifty scaled its life-time (intra-day) high of 12,311.20, before ending 40.90 points, or 0.33 per cent, higher at 12,256.80. Other gainers included Ultratech Cement, Maruti, Kotak Bank, Asian Paints and HUL.
On the Sensex chart, Bajaj Finance was the top gainer, rallying around 8 per cent, followed by IndusInd Bank, Bajaj Finserv, Infosys, ICICI Bank, Axis Bank and HCL Tech. On the other hand, NTPC, ITC, PowerGrid and Tata Steel were among the laggards.
TCS was the top gainer in the Sensex pack, rising around 4 per cent, followed by ONGC, ICICI Bank, HDFC Bank, Dr Reddy's, HDFC and HCL Tech. NSE Nifty advanced 76.65 points to 14,581.45.
The regulator is more carefully scrutinising applications by infrastructure investment vehicles that have a limited number of investors. They have been asked to broaden their investor base before application approval, according to two people familiar with the matter. The Securities and Exchange Board of India is concerned about the structure being used for getting around tax requirements, according to one of the sources.
Bharti Airtel was the top gainer in the Sensex pack, rallying around 4 per cent, followed by Bajaj Auto, TCS, Titan, HCL Tech and Reliance Industries. On the other hand, IndusInd Bank, Tata Steel and HDFC Bank were among the laggards.
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