UTI's legacy and brand recognition, together with a robust distribution network and access to public sector money, could work in its favour, and help it command a premium
Reliance Industries Ltd was the biggest wealth creator during the five-year period from 2018 to 2023 while Adani Enterprises Ltd was the top all-round wealth creator, according to a study by Motilal Oswal Financial Services. The study, based on stock market performance of companies, said for the fifth time in succession, Reliance emerged as the largest wealth creator, adding Rs 9,63,800 crore wealth over 2018-23. It was followed by Tata Consultancy Services (Rs 6,77,400 crore wealth addition), ICICI Bank (Rs 4,15,500 crore), Infosys (Rs 3,61,800 crore) and Bharti Airtel (Rs 2,80,800 crore).
Michael Dell clinched shareholder approval on Thursday for his $25 billion offer to buy and take Dell Inc private, ending months of conflict with the company's largest investors and removing the uncertainty surrounding the world's No. 3 PC maker.
Before opening its first outlet in the country on November 9, the US fast food chain, Burger King Corporation, had approached the HC seeking an assurance that companies it had sued for trademark infringement will not approach lower courts for stay orders against its launch.
Twitter Inc named Anthony Noto as CFO, putting the well-regarded former Goldman Sachs executive who led its successful November IPO in charge of finances.
They researched their companies well, didn't believe in the market chatter and advise to stay invested for long term.
The Sensex ended down 251 points at 27,351 and the Nifty shed 65 points to close at 8,228.
Reliance reported record pre-tax profit from its retail and telecom businesses. The two now account for nearly 32 per cent of EBITDA, up from close to 25 per cent previously.
The IMD attributed the projection to a weakening of El Nio and the Indian Ocean Dipole turning positive.
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