From the Sensex pack, Hindustan Unilever, Asian Paints, Bajaj Finance, Nestle, Bajaj Finserv, Reliance Industries, Larsen & Toubro, Maruti, Infosys and Bharti Airtel were the major laggards.
Benchmark BSE Sensex rose by 319 points on Monday on gains in IT and financial stocks after positive quarterly results amid supportive global cues. The 30-share BSE barometer rose by 319.90 or 0.53 per cent to close at 60,941.67. The index opened higher and gained more than 400 points to scale the 61,000 level. It touched a high of 61,113.27 and a low of 60,761.88 in the day.
Billionaire Mukesh Ambani's Reliance Industries Ltd is the most valuable private company in the country, as per Hurun India's 2022 Burgundy Private Hurun India 500 list. The list, which was released on Tuesday, stated that with a value of Rs 16.4 lakh crore, Reliance is India's most valuable company, followed by Tata Consultancy Services (TCS) with Rs 11.8 lakh crore and HDFC Bank with Rs 9.4 lakh crore. Reliance is also the highest taxpayer with a payout of Rs 16,297 crore and the most profitable company with a bottomline of Rs 67,845 crore in 2022-23.
The scheme has been extended to all categories of employees.
Tata AIG India Life Insurance has tied up with Fanklin Templeton Investments to introduce a new plan InvestAssure, a unit linked insurance plan to provide security cover with the opportunity to get high returns on insurance premium.
The improving outlook for the power sector has caught the interest of dividend yield funds. In the first four months of the current financial year (2023-24, or FY24), five of the six largest dividend yield funds have shown a notable increase in their exposure to stocks within the power sector. Some have even introduced new stocks to their portfolios.
Tata Steel was the biggest gainer in the Sensex chart, rising 2.39 per cent, followed by Tata Motors, Power Grid, Reliance Industries, UltraTech Cement, NTPC, Nestle, HUL, Mahindra & Mahindra, Wipro, Kotak Mahindra Bank and Asian Paints. In contrast, Bajaj Finance, IndusInd Bank, Axis Bank, Bharti Airtel, Bajaj Finserv, ICICI Bank, Infosys and Titan were among the laggards.
Business Standard got in touch with CEOs and corporate promoters around the countr. Is India Inc shocked? Surprised at the tone and tenor of the letters? Most shied away from a comment, some were diplomatic and only a few were ready for plainspeak.
One of the reasons why conviction rates in India are poor is that "adventurism and megalomania overtakes our investigators and professionalism takes a back seat," Jaitley said on Twitter.
In a rare honour, chairman of Tata group of companies, Ratan Tata was on Wednesday made honorary economic advisor to the booming east Chinese city of Hangzhou.
Equity benchmarks Sensex and Nifty ended on a mixed note on Wednesday as the euphoria about the Budget fizzled out, with investors going for profit-taking ahead of the Fed interest rate decision. The 30-share BSE benchmark Sensex climbed 158.18 points or 0.27 per cent to settle at 59,708.08 after it trimmed most of the intra-day gains. During the day, it had zoomed 1,223.54 points or 2 per cent to 60,773.44.
Enthused by rave reviews that its Rs 100,000-car Nano got at the auto fair recently, the country's largest automobile company Tata Motors is embarking on a dealership network expansion drive.
Banks make loans available at lower rates to attract high networth customers
Among Sensex shares, HDFC Bank fell the most by 2.58 per cent, followed by SBI (2.12 per cent), HDFC (2.09 per cent), and IndusInd Bank (2.02 per cent). Axis Bank, Bajaj Finserv, M&M, L&T, Reliance, Infosys and TCS were among the major losers. In contrast, Tata Motors, Maruti, NTPC, Sun Pharma, Power Grid and Titan were among the gainers.
Rohit Sharma fined for slow over-rate against Delhi Capitals
Ratan Tata on Friday asked it to give 'support and opportunity' to Prime Minister Narendra Modi for delivering on his promises.
Docomo is looking to expand its reach beyond Japan and sees India and Africa as key emerging markets.
As temperatures soar across the country, amid searing heat wave, analysts see power demand hitting fresh record highs this year. The time, therefore, may be opportune to add related stocks on dips as higher demand boosts earnings visibility, they said. On April 18, India's electricity demand touched a new high of 216 gigawatts.
The BCCI on Friday announced the fixtures of the upcoming edition of the Indian Premier League
Tata Group Chairman emeritus Ratan Tata expressed the confidence that India will re-emerge as an economic power.
The problem, says Chandrasekaran, arises from the lack of access to services, including healthcare, education and financial services.
The Jain brothers' $300 mn-worth Girnar Software has really humble roots.
One thing has remained constant through the Indian economy in the last seven decades: the dominance of family-owned businesses. Krishna Kant reports.
Banking and capital goods stocks were out of favour, while oil and auto stocks saw buying interest.
Rising for the second straight session, equity benchmark Sensex climbed 142 points on Thursday following buying in IT and finance stocks amid a higher opening in European markets. After a see-saw session, the 30-share BSE Sensex ended 142.43 points or 0.23 per cent higher at 60,806.22. During the day, the index witnessed a high of 60,863.63 and a low of 60,472.81.
Jio Financial Services, the demerged financial services unit of Reliance Industries, will be listed on bourses on August 21, according to an exchange notification. Jio Financial Services Ltd (JFSL) demerged from Reliance last month and is currently listed under a dummy ticker after its price discovery at Rs 261.85 but there is no trading happening in the scrip. The listing on BSE and NSE has been scheduled a day before FTSE Russell plans to drop JFSL from its indices.
The government is close to approving a proposal by Micron Technology to set up an assembly, testing, marking and packaging (ATMP) facility in the country involving an investment of about $1 billion. The world's fifth largest semiconductor company, based in Idaho, USA, will use the facility to process some of its own wafers, manufactured across the globe.
Vistara'a launch, the steel plant at Kalinganagar and e-commerce venture are the ones most awaited for
During the 11 years ending FY15, Tata Sons cumulatively earned dividend income of around Rs 31,500 crore from TCS.
Among Sensex shares, Bajaj Finserv fell the most by 4.08 per cent. Bajaj Finance declined by 3.01 per cent, Tata Steel by 2.2 per cent, Wipro by 2.09 per cent, Tata Motors by 1.96 per cent, IndusInd Bank by 1.9 per cent, SBI by 1.75 per cent, Tech Mahindra by 1.66 per cent and HCL Tech by 1.2 per cent. TCS, Infosys, Power Grid, Maruti, Reliance, HDFC twins, L&T, M&M, NTPC and Ultratech Cement were also among the losers.
With passenger growth pegged at 14 to 15 per cent, airport infrastructure could be a make or break business for both new players and incumbents.
MD Shinzo Nakanishi also rules out entering ultra low-cost car segment.
IndusInd Bank was the biggest gainer on the Sensex chart, rising 4.75 per cent, followed by M&M, L&T, NTPC, ITC, Ultra Cement, Tata Steel, Maruti and SBI. In contrast, Bajaj Finance, Tech Mahindra, Infosys and Sun Pharma were among the losers, shedding up to 2.30 per cent.
The migration of domestically developed intellectual property to foreign corporations within India reflects an anomaly in the demand pattern of the country's job market, points out Kanika Datta.
The Tatas and the Dubai-based Istithmar Group may increase their stake in Delhi-based low-cost carrier SpiceJet, which has a 10 per cent market share in Indian aviation market. While the Tatas, who currently hold 7 per cent stake in the company through Ewart Investment, may hike their shareholding to 15 per cent, Istithmar is likely to raise its stake from 13 to 30 per cent, sources said.
World champion Viswanathan Anand played out a quick draw with Hikaru Nakamura of United States while debutant P Harikrishna beat local player Anish Giri in the first round of the 'A' group of Tata Steel Chess tournament that got underway in Wijk Aan Zee, The Netherlands on Sunday.
Chandrasekaran, who is the co-recipient of this year's USIBC Global Corporate Leadership Award, also said it is possible to have a limited deal between India and the US before the elections there in November if both sides work together to get something done and not try to solve all issues at once.
Shares worth over Rs 2,800 crore in four Tata firms, including TCS and Tata Motors, pledged by Tata Sons have been released.
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