At the start of 2016, HDFC Bank, Infosys, ICICI Bank, L&T and Axis Bank were the top five picks of fund managers
L&T received bids for 5.54 crore shares on Thursday at the close of market hours. This is 108.09 per cent higher than the total offer, as per information available on the BSE. The open offer - for Rs 980 a share - opened on June 17 and is scheduled to close on Friday.
The bulk of the erosion in terms of value took place in India's most-valued firms. For instance, Mukesh Ambani-led Reliance Industries alone has lost Rs 3.8 trillion in m-cap, followed by HDFC Bank, which has seen its value erode by Rs 2.45 trillion and Tata Consultancy Services (TCS), which has lost Rs 1.85 trillion to stand at Rs 6.24 trillion, making it India's most-valued.
The fiercest corporate battles in India probably have been fought by the Ambanis. Dhirubhai Ambani, the founder of Reliance Industries, first locked horns with Bombay Dyeing's Nusli Wadia over polyester. Then, there was a corporate battle with Larsen & Toubro.
The 30-share Sensex ended up 11 points at 20,894 and the 50-share Nifty closed 16 points higher at 6,205.
Market participants are wary of wild swings expected in stocks on May 16 - the poll results day, and therefore refraining from taking leveraged bets now, say analysts
Construction major Larsen & Toubro invested $160.80 million in its wholly owned unit in the United Arab Emirates for business in financial services.
Infosys, TCS and HCL Technologies ended 1-2% higher due to weakness in rupee.
Yes Bank was the biggest gainer in the Sensex pack, rallying 11.48 per cent amid reports that private equity firms have showed interest in buying a major stake in the private sector lender.
'We cannot understand why the government is facilitating the import of artillery when our indigenous guns are doing so well.'
Four L&T executives, 2 from RIL and 1 from Tech Mahindra own over Rs 100 crore (Rs 1 billion) each in stock options.
According to a source, the founders, which include Subroto Bagchi, N S Parthasarathy and Krishnakumar Natarajan (who together hold about 13 per cent), may look at selling their shares as well in the open offer that concludes on June 28.
Experts say the focus is on preserving liquidity as there is uncertainty over the duration and impact of the 21-day nationwide lockdown imposed to check the spread of COVID-19.
Larsen & Toubro, country's biggest engineering and construction major, said its net profit dropped 12 per cent.
Larsen and Toubro (L&T), ICICI Bank and Reliance Industries (RIL) were the top-three stocks that accounted for over 60 per cent of the 991-point gain in the Sensex between October 15 (Sensex at 19,057) and October 29 (Sensex at 19,978). Larsen and Toubro, which was the top gainer among the Sensex stocks, was also the largest contributor, adding 336.09 points to the Sensex's total gains.
DRDO plans to build a tank for use in the mountains and in the jungles.
Investors are likely to remain cautious tomorrow on account of March series F&O expiry.
Rediff reader Srinivas Samudrala, 58 from Telangana shares his story.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The project holds strategic significance as Zojila Pass is situated at an altitude of 11,578 feet on the Srinagar-Kargil-Leh National Highway and remains closed during winters due to heavy snowfall.
The broader NSE Nifty, on the other hand, ended 2.70 points, or 0.02 per cent, lower at 11,555.90 in its third straight day of losses.
Shiv Sena has so far expressed concerns over car shed for the city's planned metro network, the bullet train and the West Coast refinery projects.
Most of these road contracts are spread across Andhra Pradesh, Haryana, Karnataka, Odisha, Rajasthan, Tamil Nadu, Uttarakhand and West Bengal, with the government struggling to restart them.
The ministry of defence has set a goal of $26 billion, including export of $7 billion for the industry by 2025-26 through its Defence Production Policy 2018.
Given the military's requirement for watertight cyber and communications security, L&T will establish a Security Operations Centre which will deal with security threats.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
L&T, Ircon International and Tata Projects have showed interest in a tender issued by the National High Speed Rail Corporation, implementing agency for the project. The tender is for construction of stations, bridges, viaducts, maintenance depots and tunnels.
Chatterjee said the compNY is not aware of any major client concerns at this point.
The survey noted that in a market like India, where there is high attrition levels, employer branding is very important as it provides an advantage to attract and retain top talent.
L&T is pursuing a controlling stake of 66 per cent in the mid-tier IT firm, for Rs 10,700 crore.
A symbol of self-reliance, India's space endeavours are a model for public-private partnership.
Markets ended flat amid a volatile trading session on Monday led by engineering major Larsen & Toubro.
Further stimulus measures are expected in the upcoming Budget where the focus is likely to be on reforms, including some structural measures such as reducing red tape and boosting foreign direct investment. The meeting with industrialists is in the series of discussions that Modi has had during the last couple of weeks to seek suggestions to revive growth.
Three employees of a company were on Thursday arrested in connection with the collapse of a portion of an under-construction bridge near the international airport in Mumbai in which three people were killed, the police said.
To sell off L&T IDPL, Nabha Power; transfer Hyderabad Metro to an InvIT.
The decline was due to an increase in interest costs.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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