Sensex Today | Share Market Live Updates: India’s benchmark indexes ended at fresh all-time highs on Monday, aided by strong domestic macroeconomic data and elevated bets of a US rate cut in March, while analysts saw momentum picking up in the ongoing rally after the ruling Bharatiya Janata Party’s victory in key state elections. US stocks and bonds rallied Friday...
Business
Adani Group Stocks Surge As Markets Hit Record High
Adani group shares extended gains on Monday amid a record breaking rally in the broader market following state poll results, taking the total market valuation of group companies to close ₹ 12 lakh crore mark. Adani Green Energy zoomed 9.43 per cent to close at ₹ 1,123.35 apiece, Ambuja Cements rallied 7.32 per cent to ₹ 474.45, flagship firm Adani Enterprises advanced 7.07 per cent to...
LIC intends to set up office in GIFT City during this financial year
Life Insurance Corporation (LIC) is planning to open office in GIFT International Financial Services Centre Gandhinagar (Gujarat) during the current fiscal to further its overseas business. LIC’s presence in the Gujarat International Finance Tec (GIFT) City-International Financial Services Centre (IFSC) will enable the company to expand its global business. “We are going to open our branch very soon in the...
Tata Technologies Share Jumps From ₹ 500 To ₹ 1,400 On Day 1
Tata Technologies Ltd shares soared to an impressive 180 per cent above their issue price during their maiden trading session on Thursday, marking the most spectacular debut on the Indian stock market so far in 2023. The shares commenced trading at ₹ 1,200 on the National Stock Exchange (NSE) and ₹ 1,199 on the BSE, representing a staggering 140 per cent premium over their...
Adani Power Takes Up Green Ammonia Combustion Pilot Project At Mundra Plant
As the world leaders converge in the UAE for the COP28 this week to chalk out strategies for climate mitigation, Adani Power announced it has taken up a green ammonia combustion pilot project at its Mundra plant. As part of the project, the Mundra plant, a large private sector power plant, will co-fire up to 20 per cent green ammonia...
Auto sales reached milestone in 42-day festive period; 37.93 lakh vehicles sold: FADA
The 42-day festive period – starting on Navratri and ending 15 days after Dhanteras – saw a new milestone in car sales, said Federation of Automobile Dealers Associations (FADA) in a new report released on Tuesday. The association said that significant growth was observed in two-wheeler, three-wheeler, commercial vehicles as well as passenger vehicles categories, as compared to the previous...
LIC exploring possibility of setting up a fintech arm: LIC Chairman
Insurance giant Life Insurance Corporation of India (LIC) is exploring the possibility of setting up its own fintech arm as part of a potential business model, although specific details about the initiative are yet to be finalised. The state-run insurer has appointed a consultant to steer the project and is in discussions with potential partners. The fintech arm would help...
Tata Technologies IPO closes with bids worth ₹1.56 lakh crore
The highly-awaited Tata Technologies IPO closed on Friday evening with a record high 70x bids worth ₹1.56 lakh crore, surpassing the country’s biggest IPOs. Tata Group saw a huge success with its first initial public offering in the last 20 years – Tata Technologies IPO – with the three-day issue closing on Friday evening with overall subscriptions of nearly 70...
Afghanistan permanently closes Indian embassy in Delhi, cites ‘policy shift’
In a major development, the Embassy of the Islamic Republic of Afghanistan announced permanent closure in New Delhi owing to the “persistent challenge from the Indian government.” Releasing an official statement on the closure of its diplomatic mission in New Delhi, the Afghan embassy said, “the decision follows the embassy’s earlier cessation of operations on September 30, a move made...
Byju’s Asked To Pay ₹ 9,000 Crore For Violating Foreign Funding Laws
The Enforcement Directorate (ED) has issued a notice to edtech major Byju’s, asking it to pay ₹ 9,000 crore for allegedly violating foreign funding laws, sources have said. The company has, however, denied receiving any such communication from the authorities. According to sources in the ED, Byju’s received foreign direct investment (FDI) of around ₹ 28,000 crore between 2011 and 2023. The edtech major,...
Bharti Airtel mulls $1-bn fundraise to repay spectrum dues
Sunil Bharti Mittal-led Bharti Airtel is reportedly exploring a fundraise of around $1 billion (around Rs 8,330 crore) to prepay a bulk of its remaining dues relating to the spectrum bought in 2015. This fundraise could also include a potential bonds issue. According to a report in The Economic Times, the telco giant is expected to engage with top global...
Rupee slips 2 paise to 83.25 against US dollar in early trade
The rupee slipped by 2 paise to 83.25 against the US dollar on Friday as a firm greenback in the overseas markets weighed on investor sentiments. At the interbank foreign exchange market, the rupee opened flat at 83.23 against the US currency following overnight losses in crude oil prices. However, a firm US dollar and weak domestic equity markets restricted...