Tag: nifty

Market at Close | Correction in Nifty, Midcaps leaves investors poorer by over ₹5 lakh crore

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

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Indian stock markets took a beating on Monday (April 15) with benchmark Sensex and Nifty tumbling over 1% as the escalating conflict in the Middle East and weak trends from global markets unnerved investors.

Despite initial attempts at recovery during the trading session, the markets failed to sustain momentum and ultimately closed at the day’s lowest levels. Most sectoral indices slipped, contributing to a rise in the Volatility Index by 8%.

The market capitalisation of BSE-listed companies took a hit, erasing more than ₹5 lakh crore on Monday alone. The Sensex plummeted by 845 points to 73,400, while the Nifty dropped by 242 points to 22,278. Nifty Bank and the Midcap Index also witnessed significant declines, slipping by 791 points and 787 points, respectively.

From the Sensex basket, Wipro, ICICI Bank, Bajaj Finserv, Bajaj Finance, Tata Motors, Larsen & Toubro, Tech Mahindra and HDFC Bank were the major laggards. Nestle, Maruti and Bharti Airtel were the gainers.

In this volatile market environment, ONGC emerged as a rare gainer, closing 5% higher following a positive brokerage note. Meanwhile, select metal stocks saw buying interest due to rising prices, with Hindalco Industries registering a 2% increase.

Maruti Suzuki India managed to recover some losses from the previous session, closing with a gain of 2%. However, the financial sector remained under pressure, with all Nifty Bank constituents in the red. Notably, ICICI Bank emerged as a major drag on both the Nifty and Nifty Bank.

Among individual stocks, CONCOR witnessed a 4% decline from its intraday high after missing FY24 volume guidance. IT stocks continued to face pressure following TCS earnings, with several stocks experiencing declines ranging from 3% to 5%.

On a positive note, Exide Industries gained 3% as Morgan Stanley raised its target for the stock to ₹485. Additionally, city gas companies saw buying interest after the BJP’s manifesto mentioned ‘Piped Gas for All’. The market breadth heavily favoured declines, with the advance-decline ratio standing at 1:5.

In Asian markets, Seoul, Tokyo and Hong Kong settled lower while Shanghai ended in the positive territory. European markets were trading on a mixed note. Global oil benchmark Brent crude dipped 1.04% to $89.51 a barrel.

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

Market at Close | Sensex settles above 75,000-mark for first time, Nifty hits record high of 22,776

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

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The benchmark Sensex climbed 354 points to close above the record 75,000 mark for the first time, while the broader Nifty scaled a fresh lifetime high on Wednesday (April 10) on gains in FMCG, energy and metal shares.

The 30-share BSE Sensex climbed 354.45 points, or 0.47%, to settle at an all-time high of 75,038.15. During the day, the index spurted 421.44 points, or 0.56%, to hit a high of 75,105.14.

The Nifty advanced by 111.05 points, or 0.49%, to close at a record peak of 22,753.80. During the day, it jumped 132.95 points, or 0.58%, to reach a lifetime intra-day peak of 22,775.70. Additionally, the Nifty Bank surged by 256 points to settle at 48,987.

The midcap segment, in particular, demonstrated resilience by reclaiming losses from the previous day, outperforming both the Sensex and Nifty indices. This was fueled by robust performances from key players such as Reliance, ITC, and Bharti Airtel, which emerged as top contributors to the Nifty’s upward trajectory.

From the Sensex basket, ITC, Kotak Mahindra Bank, Bharti Airtel, State Bank of India, Asian Paints, Tech Mahindra, Reliance Industries and Nestle were the major gainers. Maruti, HDFC Bank, Larsen & Toubro and Mahindra & Mahindra were among the laggards.

In sectoral news, oil marketing companies celebrated healthy gains as crude prices experienced a dip, propelling stocks upwards by 3-6%. Similarly, chemical companies experienced a surge in buying activity following encouraging March export data, with Navin Fluorine International, Atul, Aarti, and Deepak Nitrite emerging as top gainers in the segment.

The market also witnessed notable movements in individual stocks, with Vedanta climbing by up to 10% after receiving an upgrade to ‘Buy’ from CLSA. Meanwhile, MCX extended its gains on the back of a positive brokerage note, registering an increase of up to 6%. However, Reliance Infrastructure faced challenges as it hit the lower circuit following the Supreme Court’s decision to set aside an arbitral award of ₹8,000 crore.

In the pharmaceutical sector, Cipla and Alkem witnessed slight declines of 2% and 1%, respectively, in response to US FDA observation details for their units. Overall, the market breadth slightly favoured advances, with the NSE Adv-Decline ratio standing at 5:4.

In Asian markets, Tokyo and Shanghai settled lower, while Hong Kong ended in positive territory. Markets in South Korea were closed for elections. European markets were trading in the green. Wall Street ended mostly with gains on Tuesday. Global oil benchmark Brent crude climbed 0.18% to $89.58 a barrel.

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

Will the rally in gold and stocks coexist for the rest of 2024?

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

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Even though both gold prices and equities are marching to record highs, the former is likely to outperform equities this year as the expectation of an interest rate cut creates more excitement around the yellow metal. Further, a weakening dollar index also impacts gold prices.

Ahead of Wednesday’s US CPI release, the US dollar extended its fall for the fifth day in six trading sessions. Conversely, gold prices have rallied close to 30% from their October lows. Bullion added another 1.1% on Tuesday and is currently hovering at $2,365.35 per troy ounce.

However, a simultaneous rally in both risky and haven assets is very uncommon. Generally, both display an inverse relationship with each other, even though easing by the Federal Reserve should benefit both stocks and gold.

So far in 2024, gold prices have rallied by as much as 14.1% against last year’s return of 13.1%. In contrast, the dollar-denominated Nifty Index has gained just 4.1% since the beginning of the year. The outperformance of precious metal is happening for the first time since 2020. While the Nifty Index generated an average return of 16.2% between 2021 and 2023, gold yielded just 3% during the three years, with negative returns in both 2021 and 2022.

Historically, the stock market has been a better investment than gold. For instance, the Nifty Dollar index has been generating positive returns over the last eleven years through 2023, except in 2015. In contrast, the gold ended in the green only in five instances since 2013.

Economists attribute multiple reasons for the recent uptick in gold prices. According to them, heightened geopolitical risks in the Middle East and Ukraine, along with increased volatility in dollar value, have pushed the prices of yellow metal higher.

Moreover, buying by central banks also weighed on the latest surge in gold prices. Central banks buy gold as a measure to diversify their forex reserves and hedge against foreign currency risks. As part of their foreign exchange reserves, many central banks across the globe hold significant amounts of gold as reserves.

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

Market at Close | Sensex hits intra-day record high of 75,124 points but ends in the red

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

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The Indian stock markets tumbled on Tuesday (April 9), failing to sustain the record-breaking momentum it had seen at the opening bell. Despite surging to new intra-day highs, both the Sensex and Nifty ultimately retreated, closing the day in negative territory.

In the early hours of trading, the Sensex soared to an intra-day high of 75,124 points, while the Nifty peaked at 22,768 points. The Midcap Index, which had been on an impressive 11-day winning streak, finally succumbed to profit-taking pressure, ending the day 1% below its recent highs.

Market heavyweights like ICICI Bank, Infosys, and HDFC Bank provided some support to the Nifty, preventing a steeper decline, while Reliance Industries dragged down the index.

The banking sector witnessed a mixed performance, with the Nifty Bank managing to close higher, largely propelled by ICICI Bank’s contribution, while other banking stocks struggled to maintain momentum. Axis Bank, for instance, saw only marginal gains amid reports of Bain Capital potentially divesting its stake.

Metal stocks, on the other hand, experienced buying interest driven by rising prices, with Hindalco and Hindustan Copper emerging as the top gainers. However, stocks like REC and PFC extended losses from the previous session after quarterly updates fell short of expectations.

Page Industries reached its highest levels in two months, while Godrej Properties surged following a robust quarterly performance. Vedanta hit a 52-week high, buoyed by a 25% increase in stock value over the month.

Meanwhile, positive developments in the sugar industry, including reports of the government’s intention to divert more sugar for ethanol production, lifted stocks like Balrampur.

However, Gland Pharma faced a setback, declining over 3% after a significant change in shareholding. Overall, market breadth favoured declines, with the advance-decline ratio at 2:3.

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

Market at Close | BSE-listed companies hit market capitalisation of ₹400 lakh crore

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

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The benchmark equity indices Sensex and Nifty reached their fresh record highs on Monday (April 8), amid optimism in global markets and foreign fund inflows. Buying in index major Reliance Industries also fuelled the rally in equities.

In a significant milestone, BSE-listed companies collectively achieved a market capitalisation of ₹400 lakh crore for the first time. The Sensex, the flagship index of the Bombay Stock Exchange closed at an unprecedented 74,869 points, while the Nifty soared to 22,697 points, setting a fresh record. Riding the wave of optimism, the Nifty Bank also surged to 48,717 points, reflecting robust performance in the banking sector.

The momentum was further bolstered by the Nifty Midcap Index, which extended its winning streak for the 11th consecutive session. The Nifty Bank registered a healthy increase of 89 points to reach 48,582, and the Midcap Index added 19 points to finish at 50,041.

Automobile stocks witnessed a surge in demand following encouraging reports from the Federation of Automobile Dealers Associations (FADA) regarding monthly sales figures. Eicher Motors and Maruti Suzuki India emerged as the top gainers in this segment.

Meanwhile, insurance stocks attracted investor interest ahead of monthly updates, with SBI Life Insurance gaining over 2% during the session. However, Adani Ports faced pressure, slipping by 2% as the company witnessed block deals worth more than ₹900 crore.

In a significant development, Exide Industries witnessed its biggest gain in 18 years, surging by up to 19% after announcing an agreement with Hyundai related to electric vehicles (EVs). However, Nestle faced a setback, falling nearly 2% after increasing royalty payments to its parent company.

Info Edge witnessed a notable uptick, surging by 10% after reporting healthy billings in the fourth quarter. Similarly, Voltas reported strong updates for the same period, resulting in a 6% jump in its stock price.

Despite ending higher, Godrej Properties retreated from its highs following strong sales figures for its Gurugram project. Positive brokerage recommendations propelled GAIL India to gain more than 5%. However, Bandhan Bank witnessed a decline of 6% after the announcement of CS Ghosh’s retirement as MD and CEO.

REC faced selling pressure after reporting loan growth below market expectations, leading its stock to fall by 4%. The market breadth slightly favoured declines, with an advance-decline ratio of 1:1.

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

Market at Close | Sensex, Nifty end flat after status quo policy by RBI

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

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The equity benchmark indices Sensex and Nifty registered marginal gains to hit fresh lifetime highs on Friday (April 5) after the Reserve Bank of India (RBI) maintained the status quo on key interest rates.

The 30-share BSE Sensex inched up 20.59 points or 0.03% to settle at 74,248.22. The index oscillated between the intra-day peak of 74,361.11 and the low of 73,946.92. The broader NSE Nifty with a marginal gain of 0.95 points at 22,513.70. As many as 28 components of the 50-share benchmark ended in the red.

Despite the overall flat performance of the benchmark indices, the Midcap segment continued its remarkable rally for the tenth consecutive day, while the Nifty Bank closed higher, propelled mainly by HDFC Bank’s strong contribution.

However, oil marketing companies (OMCs) faced pressure amid concerns over rising crude oil prices, dampening their performance in today’s trading session. On the other hand, HDFC Bank, along with ITC and Kotak Mahindra Bank, helped limit losses on the Nifty.

Other heavyweights like Asian Paints, Maruti, Titan and JSW Steel also saw heavy selling. In contrast, Kotak Mahindra Bank, Bajaj Finserve, HDFC Bank, ITC and SBI bucked the trend and ended the session with a gain of up to 2.09%.

Bajaj Finance emerged as one of the top Nifty losers following its quarterly update, while insurance companies saw gains ahead of the release of monthly data, with stocks rising by 1-5%. SBI Card witnessed short covering, leading to a 5% increase in its stock price, while Marico reported a healthy quarterly update, prompting buying interest in its shares.

Furthermore, Godrej Properties experienced a significant jump in its stock price after announcing the sale of a Mumbai project worth ₹2,600 crore. Despite reports of potential policy revisions by the Ministry of Oil, city gas companies saw rises in their stock prices.

The market breadth favoured advances, with an advance-decline ratio of 3:2. Moreover, the market capitalisation of BSE-listed companies reached a record high of ₹399.5 lakh crore.

Asian markets were lower, with Japan’s Nikkei 225 losing 1.96% and Hang Seng of Hong Kong declining 0.01%. South Koran index Kospi fell 1.01%. European markets were trading in the red. Germany’s DAX and London’s FTSE 100 lost 1.57% and 0.90%, respectively, while the CAC40 of France went down by 1.36%.

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

Market at Close | Sensex, Nifty hit record highs led by HDFC Bank

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

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The equity benchmark indices Sensex and Nifty rebounded sharply to hit record fresh highs on Thursday (April 4), propped up by buying in IT, consumer durables and financial stocks amid expectations of robust corporate performance.

The 30-share BSE Sensex surged 350.81 points, or 0.47%, to settle at its lifetime high of 74,227.63. During the day, the index oscillated between the high of 74,501.73 and the low of 73,485.12.

The broader NSE Nifty also hit its fresh peak of 22,514.65, gaining 80 points, or 0.36%. As many as 31 components of the 50-share benchmark ended with gains. Both indices had ended lower in the previous two sessions.

Among the Sensex constituents, 20 stocks ended the session in the green, with HDFC Bank, Titan, Tech Mahindra, and Asian Paints being the major gainers. TCS, Maruti, Kotak Mahindra Bank and Bajaj Finserv were the other gainers. In contrast, SBI, Bharti Airtel, JSW Steel, PowerGrid, ITC and Reliance closed trading with losses.

HDFC Bank’s shares surged over 3% following a strong Q4 update, bolstering the Nifty by 80 points. Meanwhile, the Midcap Index breached the 50,000 mark for the first time, capping off its ninth consecutive day of gains.

Market breadth favoured advances with an advance-decline ratio of 2:1, underscoring broad-based optimism. Oil and gas stocks faced headwinds amid concerns over higher crude prices and the prospect of a windfall tax. Several stocks in this sector witnessed declines of up to 3%.

Similarly, Dabur witnessed a sharp downturn following its quarterly update, registering a decline of over 4%. Conversely, gold finance companies Manappuram and Muthoot Financial continued their ascent, riding on the back of sustained increases in gold prices.

Meanwhile, Titan Industries saw a 2% increase ahead of its quarterly update, while UPL surged over 2% amidst speculations surrounding its potential IPO plan for the seeds business.

Angel One faced a setback, with its shares falling by 4% as gross client acquisitions slowed for the third consecutive month. Healthcare player Aster DM Healthcare surged over 8% on the back of expansion plans.

Elsewhere in Asia, Seoul and Tokyo ended with gains, while Hong Kong and Shanghai were closed for a holiday. European markets were trading in green. The US markets closed Wednesday’s session on a mixed note. Meanwhile, global oil benchmark Brent crude climbed 0.36% to $88.67 a barrel.

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

NSE revises lot size for Nifty 50 derivative contracts by half; Revision also for Financial Services, Midcap

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

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The National Stock Exchange has revised the lot size for the Nifty 50 derivative contracts to 25 from the current lot size of 50.

The lot size of the Nifty 50 contracts was earlier slashed to 50 from 75 earlier in April 2021.

Additionally, the NSE has also revised the lot size for the Nifty Financial Services index to 25 from the earlier 40 and for the Midcap index to 50 from the earlier lot size of 75.

Lot size for the Nifty Bank has been left unchanged at 15.

However, one must note that these changes are not effective for the April F&O series, which expires on April 25.

All weekly, monthly, quarterly and half yearly expiries with the revised lot size will be available to trade from the May series for the Nifty 50.

The first weekly expiry of the revised contracts will take place on May 2, while the first Monthly expiry will take place on May 30.

For the Financial Services index, the revised lot size will be made available from the July F&O series and will have its first expiry on July 30, 2024. There is also no revision in the market lot of weekly contracts expiring until July 23, 2024. There is also no revision the market lot of existing monthly expiries between April-June.

Revised market lots for the Financial Services index weekly contracts will be available from August 2024.

For the Nifty Midcap index, there is no revision in market lots of existing monthly expiries until June 24, 2024. The first monthly expiry of the revised lot will be on July 29, 2024. Weekly contracts with expiry dates up to July 22, 2024 will also not see any revision in lot size.

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, Nifty close flat as banks, IT stocks drag but broader markets continue outperformance

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

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Indian shares snapped the three-day gaining run on Tuesday (April 2) with benchmark Sensex dropping by 110 points owing to profit-taking in select private banks and auto counters amid weak trends from the US markets and foreign fund outflows.

The benchmark 30-share BSE Sensex declined by 110.64 points, or 0.15%, to settle at 73,903.91. During the day, the index dropped by 270.78 points, or 0.36%, to a low of 73,743.77. The broader 50-share NSE Nifty dipped 8.70 points, or 0.04% to 22,453.30. Both Sensex and Nifty scaled lifetime high levels in intra-day trade on Monday before settling around 0.5% higher.

#RupeeAtClose | #Rupee ends at 83.39/$ against vs Thursday’s close of 83.40/$ pic.twitter.com/qwiXCYTQmC

— CNBC-TV18 (@CNBCTV18Live) April 2, 2024

From the Sensex basket, Kotak Mahindra Bank, HCL Technologies, ICICI Bank, Infosys, Tata Consultancy Services, Wipro, Tech Mahindra and Larsen & Toubro were the major laggards. Mahindra & Mahindra, Nestle, Tata Motors and IndusInd Bank were among the gainers.

Banking heavyweights and ITC majors weighed down on the Nifty, with ICICI Bank and TCS emerging as the top drags. The Nifty Bank slipped 33 points to 47,545 due to this drag.

On the positive side, Aditya Birla Fashion and Retail saw a significant surge, rising up to 16% following its announcement to demerge Madura Fashion. Another notable gainer was AB Capital, which rose more than 11% on a positive note from Macquarie.

In the automotive sector, Bajaj Auto and TVS Motor stocks witnessed gains, while Hero MotoCorp closed lower following the release of its March sales figures. Defence stocks saw a robust surge after a positive brokerage report, with BEL hitting a record high.

The Fast Moving Electrical Goods (FMEG) sector also witnessed an upward trend, driven by IMD’s commentary on an upcoming heatwave, with Voltas leading the pack with a rise of more than 3%. Mahindra & Mahindra Financial Services ended nearly 4% higher on the back of its March business update, showcasing a strong performance.

Cement stocks staged a sharp recovery on reports of an impending price hike, contributing to the overall positive sentiment in the market. In the real estate sector, Godrej Properties and Oberoi saw gains, while DLF fell following a brokerage note. The NSE advance-decline ratio stood at 4:1.

In Asian markets, Shanghai settled lower while Tokyo, Seoul and Hong Kong ended in the positive territory. European markets were trading mostly in the green. Wall Street ended mostly lower on Monday.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹ 522.30 crore on Monday, according to exchange data. Global oil benchmark Brent crude climbed 1.61% to $88.83 a barrel.

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

Market at Close | Sensex, Nifty hit record intra-day highs as bourses begin new fiscal with a flourish

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

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The Indian stock markets started the new fiscal on a firm note on Monday (April 1) with benchmark Sensex and Nifty scaling fresh record high levels in intra-day trade before settling in the green, backed by firm trends in Asian markets and foreign fund inflows.

Extending its winning momentum to the third day in a row, the 30-share BSE Sensex jumped 363.20 points or 0.49% to settle at 74,014.55. During the day, it zoomed 603.27 points or 0.81% to hit its record intra-day high of 74,254.62.

The NSE Nifty climbed 135.10 points or 0.61% to 22,462. During the day, it jumped 203.05 points or 0.90% to hit the all-time peak of 22,529.95.

The Midcap Index was the star performer of the day, surging nearly 2% to close at 48,912. Despite the positive momentum, both the Midcap Index and Nifty Bank remain nearly 1,000 points away from their respective record highs.

From the Sensex basket, JSW Steel, Tata Steel, UltraTech Cement, NTPC, Larsen & Toubro and HDFC Bank were the major gainers. Titan, Nestle, Bharti Airtel and IndusInd Bank were among the laggards.

The market breadth remained firmly in favour of advances with the NSE advance-decline ratio standing at 8:1. Metal stocks were in focus, surging on the back of healthy manufacturing data from China. The Nifty Metal Index was up by 4%.

However, the auto sector faced some headwinds due to mixed sales figures for March, with Eicher Motors declining nearly 2%. Rising gold prices boosted shares of Muthoot and Manappuram Finance, with both stocks gaining 5% each.

On the other hand, FMCG stocks were under pressure ahead of monthly updates, with Titan and Godrej Consumer emerging as the top losers. Coal India saw its stock rise by more than 2% following its March and FY24 business updates. Indus Towers also ended the day on a positive note, surging nearly 8% after a positive brokerage report.

Real estate developer Prestige Estates saw its shares jump 8% after the company raised ₹2,001 crore from ADIA and Kotak AIF. Meanwhile, PNB Housing Finance rallied 13% following rating upgrades from CARE and ICRA. GM Breweries was up by over 12% after the company announced plans to consider a bonus issue.

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