Indian equity benchmarks scaled their fresh all-time highs in Wednesday’s early deals, led by gains across all sectors. The 30-share BSE Sensex pack surged 476 points or 0.67 per cent to trade at 71,913, while the broader NSE Nifty moved 140 points or 0.65 per cent up to trade at 21,593. Mid- and small-cap shares were positive as Nifty Midcap...
Business
EU investigates Elon Musk’s X over breaches of social media law
The European Union is investigating social media company X over suspected violations of the Digital Services Act (DSA) in its first probe under the law. “Today we open formal infringement proceedings against @X” under the Digital Services Act, European Commissioner Thierry Breton said Monday in a post on the platform formerly known as Twitter. “The Commission will now investigate X’s...
JSW’s Sajjan Jindal accused of rape, Mumbai Police registers FIR after Bombay HC’s order
Mumbai Police filed an FIR (first information report) against steel baron and managing director of JSW Group Sajjan Jindal On December 13 at a police station in the Bandra-Kurla Complex (BKC) area of Mumbai after a 30-year-old woman accused him of raping her. Mumbai Police has booked Sajjan Jindal under IPC 376 (rape), IPC 354 (assault or criminal force to...
Bulls power Sensex 969 pts higher, Nifty above 21,450; Bank Nifty at 48,000
Bulls ran wild in Dalal Street throughout this week, with benchmark indices hitting record high day after day. Nifty and Sensex gained over 2 percent this week, while Nifty Midcap 100 index and Nifty Smallcap 100 index was up 2.6 percent and 3.3 percent, respectively. Other than this, the top sectoral performer this week emerged to be Nifty IT index...
Indices end at record highs on dovish Fed; Sensex jumps 930 points led by IT stocks
India’s benchmark stock indices hit new record highs on Thursday, buoyed by a global market rally that extended to regional markets. The S&P BSE Sensex surged 1,000 points and Nifty 50 climbed above 21,200 intraday. The Sensex ended at 70,514.20, up 929.60 points, while the Nifty closed at 21,182.70, up 256.35 points. This surge followed the U.S. Federal Reserve’s indication...
IndiGo flies past United Airlines to be 6th largest carrier in market value
IndiGo has become the sixth largest airline in terms of global market capitalisation with a valuation of $13.80 billion, surpassing United Airlines at $13.48 billion, after parent InterGlobe Aviation shares closed up 1.73 percent to Rs 2,982.50 on the BSE. Delta Air Lines leads the squad at $26.54 billion. The InterGlobe Aviation shares crossed Rs 3,000 for the first time, marking their longest winning...
Cognizant aims to sell office assets in Bengaluru, Hyderabad
The company intends to divest its 10-acre campus in Gachibowli, Hyderabad, as well as a 14-acre campus in Siruseri, Chennai, in line with its cost-cutting restructuring plan to save $400 million over two years, including vacating 11 million square feet of office space, The Economic Times reported. Cognizant is re-evaluating its entire real estate portfolio and has given up rented...
SpiceJet shares rise 7%, hit 52-week high in early trade; here’s why
Shares of airline SpiceJet Ltd rose over 7% to a fresh 52-week high after the airline said the company shall soon be listing its securities on National Stock Exchange of India. The move will help the airline to reach wider investor base, it said. Sentiment around the stock was also positive as the company’s board will meet today to consider options to...
Adani Total Gas shares zoom 110% in a month
Shares of Adani Total Gas Ltd snapped their sharp four-day upward run in Friday’s trade. The stock was last seen trading 1.73 per cent lower at Rs 1,139. At this price, the multibagger scrip has gained 109.78 per cent in the past one month. Out of which, 53 per cent of the spike came in last five sessions. Despite the mentioned rise,...
RBI retains repo rate at 6.5 pc for fifth time in a row
The Reserve Bank of India on Friday decided to keep the policy rate unchanged at 6.5 per cent for the fifth time in a row as it maintains a tight vigil on inflation. The rate increase cycle was paused in April after six consecutive rate hikes, aggregating to 250 basis points since May 2022. Announcing the bi-monthly monetary policy, RBI...
India on course to become 5th-largest market for travel and tourism
India is poised to become the next big travel market in the world, projected to hit the fifth rank in outbound travel with spends of $89 billion in 2027 as compared with the current 10th position with $38 billion in 2019. The projections are in a report by Bernstein that tries to identify the potential big markets for travel. In...
Paytm Share Price hits 20% lower circuit Limit on brokerage downgrades
Shares of One97 Communications, the parent entity of digital payment app Paytm, tumbled in today’s trade, hitting the lower circuit limit of 20%, reaching ₹650.45 apiece. This sharp fall came after the company announced plans to cut down on small ticket loans amid regulatory changes. According to analysts, the company’s decision to shift focus away from small ticket-size Buy Now, Pay Later...