Tag: nifty today

Sensex rebounds 412 pts, Nifty reclaims 17,750 after RBI policy as market halts 3-day losing streak

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian equity benchmarks made a comeback on Friday amid broad-based gains, after the RBI left key rates unchanged and continued with its ‘accommodative’ stance at the end of a bi-monthly review. Gains across sectors, led by financial, oil & gas and metal shares, pushed the headline indices higher.

The 30-scrip Sensex index rose 412.2 points or 0.7 percent to end at 59,447.2 and the broader Nifty50 benchmark settled at 17,784.4, up 144.8 points or 0.8 percent from its previous close. Both headline indices jumped around one percent each during the session.

Investors’ wealth increased by Rs 2.9 lakh crore on Friday, as the market capitalisation of BSE-listed companies rose to Rs 274.1 lakh crore.

RBI Governor Shaktikanta Das gave first hints of gradually shifting away from its pandemic-era monetary policy. The central bank’s policy action was widely viewed along expected lines.

The central bank’s Monetary Policy Committee raised its inflation forecasts and lowered GDP projections for the year ending March 2023.

“The RBI’s measures, being in line with market expectations, led to a relief rally. The focus has now shifted to the earnings season, which will start next week. The outlook for the banking sector is robust due to a rapid bounce in credit growth and an improvement in balance sheet,” said Vinod Nair, Head of Research at Geojit Financial Services.

Among blue-chip stocks, Grasim, ITC, SBI Life, JSW Steel, Adani Ports, Mahindra & Mahindra and Dr Reddy’s — closing between 2.6 percent and 6.1 percent higher — were the top gainers. On the other hand, Cipla, Tech Mahindra, Maruti Suzuki, NTPC and HCL Tech — declining between 0.6 percent and 2.3 percent — were the worst hit among the eight laggards in the Nifty50 pack.

Reliance Industries, ITC, ICICI Bank and Kotak Mahindra Bank were the biggest contributors to the gain in both main gauges.

Globally, investors kept an eye out for news flow on the ongoing Russia-Ukraine war and the recent COVID outbreak in China.

Here are some key factors impacting the market:

• • Geopolitical uncertainty: Global equities clocked gains cautiously. The European Union formally adopted its fifth package of sanctions against Russia over Ukraine. The measures included bans on imports of products such as coal, wood and chemicals.
  • Crude oil: Oil rates edged higher but stayed far below their recent peaks. Brent was last up 0.7 percent at $101.3 a barrel, and WTI up 0.9 percent at $96.9 a barrel. India meets the lion’s share of its demand for oil through imports.
  • Higher interest rates: The RBI has though kept the interest rates unchanged in its latest bi-monthly policy, it is widely expected to give them a lift of 50-100 basis points this year. Last month, the Fed announced its first hike in interest rates in more than three years.
  • Accelerating inflation: The RBI raised its forecasts for inflation for the year ending March 2023 and brought the focus back on consumer prices from growth — as it was before the pandemic. Businesses in India, as well as the world, continue to struggle against a sustained rise in commodity rates.
  • FII outflows: Foreign institutional investors have been net sellers of Indian shares for six months in a row. FII outflows from October through March have stood at Rs 2.3 lakh crore, provisional exchange data shows, though DIIs have made net purchases to the tune of Rs 1.7 lakh crore.
  • Concerns over slower-than-expected economic recovery: The RBI lowered its GDP growth forecasts for FY23. It now sees the country’s GDP to expand 7.2 percent for the year, as against its estimate of 7.8 percent in its February policy review.
  • High equity valuations: Experts have time and again flagged expensive valuations of Indian equities.
  • COVID: Investors are once again tracking updates about the pandemic closely ever since rising infections triggered curbs in a major industrial belt in China.

A majority of stocks from interest rate-sensitive spaces, such as financial services, auto and realty, held on to gains after RBI announcements. The Nifty Bank rose half a percent for the day.

The Nifty Metal was the top gainer among NSE’s sectoral indices, finishing the day 2.1 percent higher. JSW Steel rose 3.9 percent and Tata Steel 1.2 percent.

The Nifty IT edged 0.1 percent lower — the only index to slip into the red, ahead of the onset of the earnings season due next week.

Broader markets strengthened, with the Nifty Midcap 100 index closing one percent higher. Its smallcap counterpart climbed up 0.4 percent.

In the midcap and smallcap segments, Bharat Dynamics, Varroc Engineering, CEAT and Hathway Cable — rising around 9-15 percent — were the top gainers. On the flipside, RBL Bank, Escorts, Solara Active and Aarti Drugs — declining 2-7 percent — were the top losers.

Overall market breadth favoured the bulls, with an advance-decline ratio of 2:1 as 1,453 stocks rose and 645 fell on NSE.

Global markets

European shares followed Asian markets higher amid gains in financial and commodity spaces. The pan-European Stoxx 600 index was up one percent at the last count and set to finish the week higher.

S&P 500 futures were up 0.2 percent, suggesting a positive start ahead on Wall Street.

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Catch latest stock market updates with CNBCTV18.com’s blog

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Sensex, Nifty50 leap to 11-week closing highs on HDFC twin boost: Key factors influencing market now

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian equity benchmarks began the week with a bang as the Nifty50 crossed the 18,000 mark for the first time in more than 10 weeks, backed by broad-based buying tracking cautious gains in global markets. Financial stocks zoomed led by HDFC Bank and HDFC shares, after the companies announced a merge. Globally, investors kept an eye out for more Western sanctions on Russia after Ukraine accused it of war crimes.

The 30-scrip Sensex index leaped 1,335.1 points or 2.3 percent to end at 60,611.7 and the Nifty50 settled at 18,053.4, up 383 points or 2.2 percent from its previous close — their highest since January 18. (Read more on the closing bell)

HDFC, HDFC Bank, HDFC Life, Adani Ports, Kotak Mahindra Bank, Hero MotoCorp, Hindalco and Divi’s — rising between 2.5 percent and 9.8 percent — were the top blue-chip gainers. On the other hand, only four stocks in the Nifty50 basket finished below the flatline: Infosys (down 1.1 percent), Tata Consumer (0.4 percent), Titan (0.2 percent) and JSW Steel (0.1 percent).

Besides the HDFC twins, Kotak Mahindra Bank, ICICI Bank and Larsen & Toubro were the biggest contributors to the upmove in both headline indices.

Here are some key factors impacting the market:

• Geopolitical uncertainty: Global equities rose but cautiously amid talk of yet more sanctions against Russia over its invasion of Ukraine.
• Crude oil: Oil rates edged higher but stayed far below their recent peaks. Brent was at $105 a barrel and WTI at $100 a barrel at the last count. India meets the lion’s share of its demand for oil through imports.
• Higher interest rates: Last month, the Fed announced its first hike in interest rates in more than three years. US central bank officials favour sharper hikes to curb a surge in inflation.
• Accelerating inflation: Higher input costs have fuelled fears about stagflation across global financial markets. Businesses in India as well as the world continue to struggle against a sustained rise in commodity rates.
• FII outflows: Foreign institutional investors have been net sellers of Indian shares for six months in a row. FII outflows from October through March have stood at Rs 2.3 lakh crore, provisional exchange data shows, though DIIs have made net purchases to the tune of Rs 1.7 lakh crore.
• Concerns over slower-than-expected economic recovery: Official data in end-February showed India’s GDP expanded a slower-than-expected 5.4 percent in the December quarter. Economists in a CNBC-TV18 poll had pegged the expansion at 5.7 percent.
• High equity valuations: Experts have time and again flagged expensive valuations of Indian equities. 
  
• COVID: Investors are once again tracking updates about the pandemic closely ever since rising infections triggered curbs in a major industrial belt in China.

The entire BFSI basket got a boost from the news, reflected in the Nifty Financial Services’ surge of 4.6 percent. The index emerged the top gainer among NSE’s sectoral gauges. The Nifty Bank and Private Bank indices jumped around four percent each.

“The market was lifted by the announcement of the merger between HDFC Bank and HDFC. The focus will now be on (quarterly) earnings reports and the RBI’s policy meeting this week,” said Vinod Nair, Head of Research at Geojit Financial Services.

HDFC and HDFC Bank shares finished the day close to 10 percent higher each — their biggest intraday gain in 13 years. Under the scheme of amalgamation, shareholders will get 42 shares in HDFC Bank for every 25 shares held in HDFC.

The India VIX — also known as the fear index — cooled off 4.6 percent to 24.1 during the session, reflecting the across-the-board strength in the market. Last month, Russia’ move to invade Ukraine had sent the index spiking to a 20-month high of almost 34.

In the midcap and smallcap segments, Godrej Agrovet, Easy Trip, Ujjivan Small Finance and RailTel — gaining around 10-19 percent — were among the top gainers. On the other hand, Team Lease, Lux, Nocil and FDC — declining 2-5 percent — were among the top losers.

Overall market breadth favoured the bulls, with an advance-decline ratio of 4:1 as 1,662 stocks rose and 442 fell on NSE.

Geojit’s Nair expects a decent start to the Q4 corporate earnings season supported by the IT sector and sees the RBI holding key rates and continuing with its ‘accommodative’ stance.

Global markets

European shares followed Asian markets higher though gains in healthcare names were offset by losses in banking and some industrial stocks. The pan-European Stoxx 600 index was up 0.4 percent in early hours.

S&P 500 futures were up 0.1 percent, suggesting a soft start ahead on Wall Street.

Technical view 

Ajit Mishra, VP-Research at Religare Broking, reiterated that the contribution of the banking pack is critical for the Nifty to test 17,800-18,100 levels though most sectors are participating in the market.

Catch latest stock market updates with CNBCTV18.com’s blog

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Closing Bell: Sensex drops 483 pts from day’s high, Nifty50 gives up 17,200 dragged by IT stocks

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian equity benchmarks ended a choppy session in the red on Friday dragged by IT and consumer shares, extending losses to a third straight session. Gains in oil & gas shares, however, lent some support. Globally, the Fed’s hawkish mood, shifts in Chinese economic policy and ongoing ructions in commodity markets due to the Ukraine crisis remained on investors’ radar.

Titan, Tech Mahindra, Maruti Suzuki, Indian Oil, Eicher, Hero MotoCorp and Nestle, closing between 1.3 percent and 3.4 percent lower, were the top blue-chip laggards. Titan faced selling pressure ahead of the company’s quarterly update due next week.

On the other hand, Bajaj Auto, Adani Ports, SBI, Reliance Industries and Asian Paints, up between 0.7 percent and 1.9 percent, rose the most among the 13 gainers in the Nifty50 pack. Reliance shares hit a five-month closing high.

Gains in Reliance Industries, SBI and Kotak Mahindra Bank saved both main indices from deeper cuts for the day.

“The domestic market will continue to follow global developments. An end to the war and a rise in oil supply can help India sustain its resilience else high volatility will be a concern in the short term,” said Vinod Nair, Head of Research at Geojit Financial Services.

The Nifty Consumer Durables was the worst hit among NSE’s sectoral indices, down two percent for the day.

IT stocks fell, with TCS, Infosys and Wipro falling 0.5-1 percent for the day. The Nifty IT index closed one percent lower.

Broader markets also weakened, with the Nifty Midcap 100 edging 0.1 percent at the close.

In the midcap and smallcap segments, BSE, Ajanta Pharma, Valiant Organics and Wockhardt — falling around 3-5 percent — were among the top losers. EIH, Hikal, Lemontree and Dhani Services — rising 6-10 percent — were among the top gainers.

Overall market breadth was in favour of the bears, with an advance decline ratio of 1:2 as 717 stocks rose on NSE and 1,415 fell.

Global markets

European shares recovered initial losses but were on course to end the week lower, following a largely weak session across Asian markets. The pan-European Stoxx 600 index was up half a percent at the last count.

S&P 500 futures were up 0.3 percent, suggesting a positive start ahead on Wall Street.

Catch latest stock market updates with CNBCTV18.com’s blog

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Closing Bell: Sensex drops 732 pts from day’s high, Nifty50 below 17,250 dragged by financial, IT shares

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian equity benchmarks gave up initial gains in a volatile session on Wednesday, dragged by financial, IT and auto stocks, as the mood across global equities turned sour after a promising start. Gains in oil & gas and metal shares, however, helped the headline indices avoid deeper cuts.

Nervousness persisted among investors on the ongoing Russia-Ukraine war, which completed nearly a month with no sign of de-escalation. The prospect of higher interest rates, days after the Federal Reserve and the Bank of England announced hikes, also dented investor sentiment globally.

Both headline indices finished the day down 0.5 percent. The 30-scrip Sensex index shed 304.5 points to end at 57,684.8, retreating as much as 731.7 points from the highest level of the day. The broader Nifty50 benchmark settled at 17,245.7, down 69.9 points from its previous close.

Among blue-chip stocks, Kotak Mahindra Bank, HDFC, Britannia, Bharti Airtel, Sun Pharma, Maruti Suzuki and Bajaj Auto — closing between 1.7 percent and 2.6 percent lower — were the top losers. On the other hand, Divi’s, Hindalco, Tata Steel, Dr Reddy’s, UPL, ITC and JSW Steel, rising between 0.8 percent and 2.5 percent, rose the most among the 21 gainers in the Nifty50 universe.

The HDFC twins, Infosys, Kotak Mahindra Bank and Bharti Airtel were the biggest drags on both main indices.

“Volatility is back due to inflationary pressures triggered by supply constraints. Consistently rising input costs and falling demand due to the surge in COVID cases in parts of the world, the war and high commodity prices are impacting earnings growth,” said Vinod Nair, Head of Research at Geojit Financial Services.

The India VIX — known in market parlance as the fear index — rose 3.4 percent to settle at 24.9. Last month, Russia’s move to invade Ukraine had sent the gauge soaring to a 20-month peak of almost 34.

Auto stocks took a beating amid rising input costs. The Nifty Auto was the worst hit among the sectoral gauges, falling one percent. Maruti Suzuki, Bajaj Auto, Tata Motors and Hero MotoCorp dropped 1-2 percent.

Tata Steel, JSW Steel, Vedanta and Hindalco led the metal pack higher. The metal index rose 1.2 percent.

Broader markets finished the day on a mixed note. The Nifty Midcap 100 rose 0.6 percent but its smallcap counterpart declined 0.2 percent.

In the midcap and smallcap segments, Lakshmi Machine, Chambal Fertilisers, Dhani Services and Hinduja Global — sliding around 4-10 percent — were the top losers. On the flipside, L&T Finance, Suven Pharma, Future Retail and IFB Industries — jumping 7-16 percent — were the top gainers.

Overall market breadth was in favour of the bears, with an advance-decline ratio of 2:3 as 823 scrips rose on NSE and 1,210 fell.

Global markets

European shares retreated from initial one-month highs amid lingering worries over the economic fallout of the Ukraine crisis. The pan-European Stoxx 600 index was down 0.2 percent at the last count.

S&P 500 futures were down 0.3 percent, suggesting a weak start ahead on Wall Street. Earlier on Wednesday, Asian equities scaled three-month peaks.

Catch highlights of the March 23 session with CNBCTV18.com’s blog

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Closing Bell: Sensex rebounds 1,059 points from day’s low, Nifty50 reclaims 17,300; VIX down 2%

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian equity benchmarks made a smart recovery in the second half of a choppy session on Tuesday, led by strength in IT, financial, oil & gas and auto shares. However, weakness in pockets such as pharma and consumer scrips played spoilsport.

Globally, a drop in crude oil prices after five days of gains aided market sentiment, though investors remained cautious tracking news updates about the Russia-Ukraine war.

Headline indices finished the session 1.2 percent higher each. The Sensex ended 696.8 points higher at 57,989.3 and the Nifty50 benchmark settled at 17,315.5, up 197.9 points from its previous close — both recovering all of their previous day’s losses.

ALSO READ: Nifty50 defends 200 DMA boldly

The 30-scrip index rebounded 1,059 points from its intraday low.

Among blue-chip stocks, Tech Mahindra, Bharat Petroleum, Tata Motors, Reliance, Bajaj Finserv, ITC, Indian Oil and TCS — closing between 2.2 percent and 4.2 percent higher — were the top gainers. On the other hand, Hindustan Unilever, Nestle, Britannia and Cipla, falling between 1.6 percent and 2.9 percent, were the worst hit among the eight laggards in the Nifty50 universe.

Reliance Industries, Infosys, TCS and ICICI Bank were the biggest movers for both Sensex and Nifty, contributing more than 400 points to the gain in the 30-scrip index.

“The domestic market started with a negative bias taking cues from rising crude prices and hawkish signals from Fed on aggressive policy tightening. However, the trend reversed as European markets opened on a positive note buoyed by hope that Ukraine may consider working towards a truce,” said Vinod Nair, Head of Research at Geojit Financial Services.

The Nifty IT rose the most among NSE’s sectoral gainers, closing two percent higher.

Gains across most BFSI stocks helped the banking and financial services gauges finish the day with gains of almost one percent.

Stocks of state-run oil marketing companies Indian Oil, BPCL and HPCL jumped 1.5-3 percent, after the three raised the retail prices of petrol and diesel after a gap of more than four months. 

Broader markets also recovered their intraday losses in the afternoon, with the Nifty Midcap 100 and Nifty Smallcap 100 indices finishing 0.3 percent higher each.

In the midcap and smallcap segments, top gainers were Chalet Hotels, Ratnamani Metal, Mahindra Holidays and Schneider, rising around 8- 13 percent. Caplin Point, IDFC First Bank, Future Retail and Wockhardt, falling 3-15 percent, were among the top losers.

Overall market breadth was largely neutral with a negative bias at the close, as 962 scrips rose and 1,080 fell on NSE.

The India VIX — known in market parlance as the fear index — eased 2.2 percent to settle at 24.1, having risen to as high as 25.2 during the session.

Global equities

European markets began the day in the green on the back of gains in the banking space on the prospect of aggressive rate hikes following hawkish comments from Fed Chairman Jerome Powell. The pan-European Stoxx 600 index was up half a percent at the last count.

S&P 500 futures were up 0.3 percent, suggesting a positive start ahead on Wall Street.

Technical view

“The Nifty50 took support at its 200-day simple moving average near 17,000 and reversed quickly. It also formed a long bullish candle on the daily chart, which is broadly positive,” said Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities.

He believes the 50-day moving average near 17,200 will now act as a trend decider level for traders.

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Catch latest stock market updates with CNBCTV18.com’s blog

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Nifty50 defends 200-DMA near 17,000 boldly amid volatility: Key factors impacting Street now

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Indian equity benchmarks staged a smart recovery in the second half of a volatile session on Tuesday, helped by a rebound in financial, oil & gas, IT and auto stocks. However, caution persisted among investors globally on account of geopolitical uncertainty arising out of the ongoing Russia-Ukraine war, a hawkish tone of major central banks and rising coronavirus infections in China.

The 30-scrip Sensex index gyrated in a range of more than 1,100 points, between around the 57,000-58,000 milestones. The broader Nifty50 benchmark managed to hold the psychologically important 17,000 mark as well as its 200-day moving average of 17,013.7 throughout the day.

It also managed to surpass its 50-day moving average.

The India VIX — known in market parlance as the fear index — finished the day down 2.2 percent to 24.1, having cooled off after jumping by the same degree during the session. Last month, Russia’ move to invade Ukraine had sent the index leaping to a 20-month high of almost 34.

Here are some key factors impacting the market now:

• Geopolitical tensions: The ongoing war between Russia and Ukraine, nearly a month after Russia invaded Ukraine, continues to keep investors nervous globally. Ukraine’s military said its residents should brace for more indiscriminate Russian shelling of critical infrastructure as US President Joe Biden issued one of his strongest warnings yet that Moscow is considering using chemical weapons. Russian troops have failed to capture any major Ukrainian city and are increasingly resorting to causing destruction to residential areas.
• Crude oil prices: Benchmark oil rates continued to rise for the fifth day in a row on Tuesday, though still 15 percent away from 14-year highs. Brent crude oil was last seen trading up 2.3 percent at $118.3 per barrel and West Texas Intermediate was up 2.2 percent at $112.4 a barrel. India meets the lion’s share of its ask for oil through imports.
• Higher interest rates: Last week, the Federal Reserve announced a rate hike of 25 basis points as expected — its first increase in more than three years. Fed Chairman Jerome Powell sounded confident about the strength of the US economy and its ability to handle tighter monetary policy. The FOMC, he said, is determined to take necessary steps to restore price stability. The Bank of England delivered a third straight hike in key rates, bringing borrowing costs back to pre-COVID levels. Back home, the RBI is due to conduct its bi-monthly policy review in April.
• Accelerating inflation: The more hawkish tone of central bankers comes at a time when rising prices of commodities — crude oil in particular — have stoked fears of stagflation. Businesses not just in India but around the globe are struggling against rising input costs.
• FII outflows: March is set to be a sixth straight month of FII outflows for Dalal Street. So far this month, FIIs net sold Indian shares worth Rs 44,579.3 crore, though DIIs have made net purchases to the tune of Rs 31,872.9 crore, providing some relief to market participants, provisional exchange data shows. FII outflows have been one of the primary reasons behind the headline indices’ retreat from the last of a chain of all-time highs last year. Till October 2021,  both Sensex and Nifty50 had scaled a series of peaks in a near one-sided 18-month-long liquidity-driven rally.
• Concerns over slower-than-expected economic recovery: Official data released in February showed India’s economy expanded by a slowed-than-expected 5.4 percent in the October-December 2021 period. Economists in a CNBC-TV18 poll had pegged the quarterly GDP growth at 5.7 percent.
• High equity valuations: Experts have time and again flagged expensive valuations of Indian equities. Dan Fineman of Credit Suisse told CNBC-TV18 on Tuesday that though the Indian market has always been at a premium to Asian peers, its premium valuations remain a concern. In his view, besides high valuations, oil is another issue for the Indian market.
  
• COVID: A recent increase in COVID cases in China, triggering curbs in a major industrial belt in the country, has remained on investors’ radar. Many experts are still divided over the pace of recovery in business as well as economic activity in India, even though the worst of the pandemic appears to be behind.

Catch latest stock market updates with CNBCTV18.com’s blog

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow