Nestle, Titan, ICICI Bank, Tata Steel, IndusInd Bank, ITC, JSW Steel and State Bank of India were the other laggards. Among the gainers, Tata Motors jumped nearly 6 per cent. Larsen & Toubro, Sun Pharma, Kotak Mahindra Bank, Bajaj Finance and Power Grid also ended in the positive territory.
Benchmark Sensex hit the historic 83,000 level for the first time on Thursday and the Nifty settled at a lifetime high after a rally in blue-chip shares, surge in global markets and foreign fund inflows. A sharp fag-end rally drove the 30-share BSE Sensex to the 83,000 level for the first time. The barometer surged 1,593.03 points or 1.95 per cent to hit its lifetime intra-day peak of 83,116.19 in the last hour of trade.
The 18-year-old also created history as he surpassed the legendary Viswanathan Anand to take the No 1 spot among Indian chess players in the live ratings.
From the Sensex pack, Tata Motors, NTPC, Bajaj Finserv, Power Grid Corp, Titan, Asian Paints, IndusInd Bank, Maruti Suzuki India and Tata Steel were among the biggest gainers. Sun Pharmaceuticals, ITC, Hindustan Unilever, Bharti Airtel, UltraTech Cement and Reliance Industries were among the laggards.
A senior official of Tata Steel on Wednesday indicated that the steel major might provide a rehabilitation package for the 1,700 workers slated to lose their jobs due to the partial mothballing of its subsidiary, Corus' Teesside plant in Britain.
Magnus Carlsen, the undisputed world number one for over a decade, believes chess ratings today are somewhat "deflated" compared to the past but remains unfazed by the possibility of someone surpassing him.
Among the 30 Sensex companies, Reliance Industries, Bharti Airtel, UltraTech Cement, Sun Pharma, Adani Ports, Axis Bank, NTPC and Bajaj Finance were the biggest gainers. Mahindra & Mahindra, Tata Steel, Tech Mahindra and JSW Steel were among the laggards.
As part of restructuring, Tata Steel UK informed its lenders on Tuesday that it would prepay debt of over 200 million pounds to continue its objective of making its European operations debt-free. Non-recourse debt is a secured loan that is availed of by pledging collateral but there is no personal liability on the part of the borrower.
World champion Viswanathan Anand suffered a shocking last-round defeat against Wang Hao of China and had to be content with a joint third finish at the 75th Tata Steel Chess tournament in Wijk Aan Zee, The Netherlands.
Earlier this week, Tata Steel vice-president (safety and long products) Hridayeshwar Jha had said that there was scope for a 'correction in prices of the long steel products depending on market conditions and the monsoon season." Leading domestic steel producers, including SAIL, JSW Steel, have already announced a reduction in prices of the long steel products by up to Rs 2,000 per tonne effective August 1.
Broader markets outperformed benchmark indices with BSE Midcap and BSE Smallcap up 0.5% and 0.6%.
India's leading steel companies hope the Modi 3.0 Budget will continue the massive capital expenditure currently underway, focusing on infrastructure development, manufacturing, and fair trade. The infrastructure segment is the largest steel user, and the government's focus has fuelled steel consumption even as international markets have underperformed. According to provisional statistics, steel consumption grew 13.6 per cent in FY24, reaching 136 million tonnes (mt), according to a CRISIL report.
Among the 30 Sensex companies, UltraTech Cement, Larsen & Toubro, Tata Motors, Nestle, Tata Steel, Hindustan Unilever, Bajaj Finance, Reliance Industries, Mahindra & Mahindra and State Bank of India were the biggest laggards. In contrast, Bharti Airtel, Infosys, JSW Steel, Tata Consultancy Services, Wipro and NTPC were among the biggest gainers.
Anish's emergence comes as India witnesses an exciting era in chess, with young talents like Erigaisi, R Praggnanandhaa, and D Gukesh shine internationally.
The 21-year-old stayed on course towards capturing his maiden professional title when he shot a two-under 68 in the second round to to open up a three-stroke lead over second placed Zai Kipgen and Mukesh Kumar.\n\n
Among the 30 Sensex companies, JSW Steel, Tata Steel, Axis Bank, Reliance Industries, ICICI Bank, Hindustan Unilever, Kotak Mahindra Bank and Asian Paints were among the biggest gainers. In contrast, Mahindra & Mahindra, Sun Pharma, NTPC, Wipro, State Bank of India and Power Grid were among the laggards.
Equity benchmark BSE Sensex tumbled nearly 700 points to sink below the 79,000 level on Tuesday, extending its losses for the second straight day due to selling pressure in HDFC Bank, SBI and ITC amid fresh foreign capital outflows. The 30-share BSE Sensex tumbled 692.89 points or 0.87 per cent to settle at 78,956.03. During the day, it tanked 759.54 points or 0.95 per cent to 78,889.38.
India's Pentala Harikrishna secured two wins on the last day but could only finish second, half a point behind Japanese-American wizard Hikaru Nakamura who lived up to his top billing to clinch the Tata Steel Chess India Rapid tournament, in Kolkata, on Sunday.
In FY23, Indian operations accounted for 41.6 per cent of the consolidated revenue of India's top five multinationals, up from 34 per cent in FY18 and 33.2 per cent and 34.2 per cent in FY21.
The profit of the company before exceptional item and tax stood at Rs 1,302 crore (Rs 13.02 billion), from Rs 1,398 crore (Rs 13.98 billion).
The CAG report had alleged the government had passed on financial gains of Rs 1.86 lakh crore to private companies by not auctioning the coal blocks.
'The global median of whistle-blower complaints is 1.5 per cent of the total employees. India's reporting is far away from this average.'
Three Indian companies Wipro, Tata Steel and Tata Power have been named among the World's Most Ethical Companies.
The assurance was given by Vietnamese Prime Minister Nguyen Tan Dung when India's Finance Minister Pranab Mukherjee called on him in Hanoi.
The Obama administration is appreciative of the investment made by Indian-owned multinationals to create new jobs in the United States as is evident from the visit of Acting United States Secretary of Commerce Rebecca Blank to Thomas Steel Strip, a Warren, Ohio-based Tata Steel unit.
Viswanathan Anand had to be content with a joint third place finish following a draw with compatriot Vidit Gujrathi in the 13th and final round of the Tata Steel Masters, in Wijk Aan Zee, The Netherland.
Investors' wealth eroded by Rs 9.51 lakh crore on Monday morning, following a crash in equity markets where the benchmark Sensex tanked over 2,400 points, mirroring a sharp plunge in global peers. The 30-share BSE benchmark tanked 2,401.49 points to 78,580.46 in early trade. Following the sharp decline in equities, the market capitalisation of BSE-listed firms dropped by Rs 9,51,771.37 crore to Rs 4,47,65,174.76 crore ($5.35 trillion) during the morning trade.
Among the Sensex components, Nestle, Maruti, IndusInd Bank, ICICI Bank, Hindustan Unilever, Larsen & Toubro, Tata Consultancy Services, Infosys, HDFC Bank and Axis Bank were the major laggards. Tata Steel, JSW Steel, Power Grid, Tech Mahindra and State Bank of India were among the gainers.
Among the Sensex pack, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Bajaj Finance, IndusInd Bank, Bharti Airtel and Nestle were the biggest gainers. Tata Consultancy Services, Sun Pharma, Infosys and Tata Motors were among the laggards.
In the Sensex pack, Mahindra & Mahindra tanked over 6 per cent after the company cut the prices of its SUV models to boost demand. Mahindra & Mahindra said its XUV700's fully-loaded AX7 range now starts at Rs 19.49 lakh, a price cut of over Rs 2 lakh. Tata Steel, Tata Consultancy Services, HCL Technologies, State Bank of India, JSW Steel, Tata Motors and Kotak Mahindra Bank were other losers.
Tata Steel on Wednesday reported Rs 916.77 crore (Rs 9.16 billion) consolidated net profit for the July-September quarter of the current fiscal on higher income.
Managing director of Tata Steel B Muthuraman and vice chairman of Goldman Sachs group Suzanne Nora Johnson are among the 20 business labour and civil society leaders named by the UN to serve on Global Contact group.
Noel Tata -- the half-brother of late Rata Tata -- who takes over as chairman of Tata Trusts, has been with the Tata Group for over four decades, slowly rising through the ranks in the salt-to-software conglomerate. Having functioned mostly under the shadows of his illustrious half-brother, Noel (67) will now have the responsibility of leading the Tata Trusts -- broadly comprising Sir Ratan Tata Trust & Allied Trusts, and Sir Dorabji Tata Trust & Allied Trusts -- that hold a controlling 66 per cent stake in Tata Sons, the holding and promoter firm of Tata Group companies.
Tata Steel on Tuesday said it will sell equity shares worth $2.3 billion in domestic and overseas markets, besides $6.1 billion in debt to fund acquisition of Anglo-Dutch firm Corus Group Plc.
Riding on rising steel prices and sales, the world's sixth-largest steel firm, Tata Steel reported 41 per cent jump in its net profit for the quarter ended March 2007 at Rs 1,104 crore (Rs 11.04 billion) on sales of Rs 4,980 crore (Rs 49.8 billion).
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