Category: BUSINESS

Eight of the 10 most valued companies added Rs 1,45,194.57 crore in their total market valuation last week with Tata Consultancy Services and HDFC Bank emerging as leading gainers. During the holiday-truncated week, the Sensex advanced 1,308.39 points or 3.49 per cent. The market valuation of Tata Consultancy Services (TCS) zoomed Rs 37,692.7 crore to Rs 9,46,632.85 crore, emerging as the biggest gainer among the top 10 firms. HDFC Bank’s valuation jumped Rs 34,425.67 crore to Rs 6,09,039.90 crore. The market capitalisation of HDFC gained Rs 25,091.57 crore to Rs…

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Reliance Industries on Saturday announced Rs 7,350 crore investments by Singapore sovereign wealth fund GIC and global private equity firm TPG Capital in its retail unit, taking the total fundraising in the last one month to Rs 32,197.50 crore. While GIC invested Rs 5,512.5 crore in Reliance Retail Ventures Ltd (RRVL) for a 1.22 per cent stake, TPG took 0.41 per cent interest for Rs 1,837.5 crore, the company said in statements issued past midnight. These investments value Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore,…

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The rupee strengthened by 22 paise to 73.54 against the US dollar in opening trade on Thursday, as positive domestic equities and weak American currency buoyed investor sentiments. At the interbank forex market, the domestic unit opened at 73.60 against the US dollar, then gained further ground and touched 73.54, registering a rise of 22 paise over its previous close. On Wednesday, the rupee closed at 73.76 against the US dollar. “Asian currencies have started stronger against the US dollar this morning and could lend support,” Reliance Securities said in…

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Equity benchmarks Sensex and Nifty opened on a choppy note on Wednesday tracking losses in financial stocks amid mixed cues from global markets as investors turned cautious after the first US presidential debate. After opening in the positive territory, the 30-share index turned volatile and was trading 49.01 points or 0.13 per cent lower at 37,924.21, and the NSE Nifty slipped 1.45 points or 0.01 per cent to 11,220.95. IndusInd Bank was the top loser in the Sensex pack, shedding around 2 per cent, followed by ICICI Bank, Axis Bank,…

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Equity benchmark Sensex opened on a strong note and surged nearly 400 points in early trade on Friday as investor sentiments improved amid positive leads from Asian markets and overnight gains on the Wall Street. The 30-share index was trading 395.08 points or 1.08 per cent higher at 36,948.68, and the NSE Nifty climbed 121.50 points or 1.12 per cent to 10,927.05. All Sensex components were trading higher with IndusInd Bank, M&M, TCS, Bajaj Finance, Bharti Airtel, Sun Pharma, Maruti, Tata Steel and Axis Bank gaining up to 3.22 per…

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The rupee appreciated 6 paise to 73.52 against the US dollar in opening trade on Wednesday, as gains in domestic equity market boosted investor confidence. Forex dealers said lower crude prices also helped the domestic unit to strengthen its ground. However, a strong dollar against major currencies overseas restricted the rupee’s gain, they added. At the interbank forex market, the domestic unit opened slightly lower at 73.59, but soon recovered to quote 73.52 against the US dollar, registering a rise of 6 paise over its previous close. On Tuesday, the…

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Equity benchmark Sensex tumbled over 300 points in early trade on Tuesday tracking losses in index-heavyweights Reliance Industries, Bajaj Finance and Maruti amid negative cues from global markets and foreign fund outflows. The 30-share BSE index was trading 305.12 points or 0.80 per cent lower at 37,729.02; while the NSE Nifty fell 97.10 points or 0.86 per cent to 11,153.45. Tata Steel was the top loser in the Sensex pack, shedding around 3 per cent, followed by Bajaj Finance, ONGC, Maruti, Bajaj Finserv, M&M and Titan. On the other hand,…

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Domestic equity benchmark Sensex jumped nearly 200 points in early trade on Friday tracking gains in index majors TCS, Reliance Industries and Sun Pharma amid positive cues from Asian peers. The 30-share BSE index was trading 186.37 points or 0.48 per cent higher at 39,166.22; while the NSE Nifty rose 62.70 points or 0.54 per cent to 11,578.80. Sun Pharma was the top gainer in the Sensex pack, rising around 3 per cent, followed by Tech Mahindra, Tata Steel, TCS, Titan, PowerGrid, NTPC, Reliance Industries and Asian Paints. On the…

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The rupee depreciated 24 paise to 73.76 against the US dollar in opening trade on Thursday tracking muted domestic equities and strengthening American currency. At the interbank forex market, the local unit opened on a weak note at 73.70, then fell further to 73.76, registering a fall of 24 paise over its last close. On Wednesday, the rupee had strengthened by 12 paise to 73.52 against the US dollar. The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.32 per cent to 93.51. Meanwhile,…

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Domestic equity benchmark Sensex jumped over 200 points in early trade on Tuesday tracking gains in index majors HDFC twins, ICICI Bank and Reliance Industries amid positive global cues and sustained foreign fund inflow. The 30-share BSE index was trading 212.87 points or 0.55 per cent higher at 38,969.50; while the NSE Nifty rose 60.30 points or 0.53 per cent to 11,500.35. Titan was the top gainer in the Sensex pack, rising around 2 per cent, followed by Sun Pharma, HDFC, ICICI Bank, Bajaj Finance, NTPC, HDFC Bank and M&M.…

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