In Asian markets, Seoul, Tokyo, and Hong Kong experienced positive trends, while Shanghai traded lower. Meanwhile, the US markets closed in the green on Tuesday.
The company has acquired six adjacent industrial plots, totaling 38,054 square meters, to establish a greenfield manufacturing facility for PVC pipes and fittings.
The 30-share BSE Sensex climbed 122.10 points to settle at 71,437.19. During the day, it jumped 308.62 points to reach its all-time intra-day high of 71,623.71. The Nifty climbed 86.4 points to hit its record peak of 21,505.05. It finally closed higher by 34.45 points at 21,453.10.
In the morning session on Tuesday, benchmark stock market indices in India opened marginally higher as the global rally showed signs of cooling down following a period of robust gains.
The Board's approval for a preferential issue of 2,96,296 equity shares at Rs 135 per share reflects the company's commitment to strategic growth. However, the acquisition is contingent upon shareholder approval.
The real estate and agro-industry player's IPO features a fixed price issue with a price band set at Rs 180 per share. The issue size, comprising 3,480,000 shares, amounts to Rs 62.64 crores, and the lot size is 800 shares, ensuring accessibility for a diverse range of investors.
In the broader market scenario, the BSE Midcap index remained relatively stable, while the SmallCap index showed a modest gain of 0.3 percent.
Speaking at a programme organised by Manthan in Hyderabad, Rajan said that if the nation does not expand quicker, it will age demographically before it becomes richer, meaning that there is the burden of an ageing population to deal with at that point.
The decision has been taken amid representation received from the industry to review the December 7 order that banned use of cane juice and sugar syrup with immediate effect.
The 30-share BSE Sensex jumped 969.55 points to settle at its record closing high of 71,483.75. Meanwhile, the Nifty climbed 273.95 points to settle at its new closing high of 21,456.65.
The overnight MCLR rate has been set at 8 per cent, while the rates for one-month and three-month tenors have been increased to 8.20 per cent from 8.15 per cent respectively. SBI is the leading bank in the banking sector. Therefore, there is a possibility that other banks will also follow suit and m
At the interbank foreign exchange market, the rupee opened flat at 83.30 against the dollar. It moved in a tight range of 83.32 and 83.29 in morning deals.
Addressing Bihar Business Connect 2023, Pranav Adani, Managing Director (Agro, Oil and Gas) of Adani Enterprises, said the group intends to raise its investment in the state to Rs 8,700 crore from the current Rs 850 crore.
At the same time, retail inflation increased to 5.55 percent in November after reaching a four-month low of 4.8 percent in October.
The 30-share BSE Sensex ended higher by 929.60 points, while the Nifty gained 256.35 points.
The early trading session showcased remarkable momentum in banking stocks, with notable gains in stocks like Tech Mahindra, Axis Bank, HDFC Bank, SBI, and others contributing to the impressive surge.
The second quarter Q2 cheered up the economy and it is already visible in industrial stocks.
With expectations of strong performance in H2FY24, driven by robust demand prospects amid industrial growth and increased power consumption, the brokerage sets a target of Rs 87 for the stock, which is currently trading around Rs 64.
After dropping to its all-time intra-day low of 83.42, the rupee finally settled at 83.40, a fall of 3 paise from the previous close.
As the trading day commences, the Sensex has a bearish start, opening at 69,518 points, while the Nifty records a slump, touching 20,906 points.
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