BUSINESS
Tata Steel, UK govt sign pact for 1.25bn pounds lifeline to Port Talbot plant
The project will bolster UK's steel security and it will be the first major step towards decarbonisation of the local steel industry, reducing direct emissions by 50 million tonnes over a decade.
Auto, IT stocks lead Nifty’s surge to all-time high levels
Nifty scaled fresh life highs on Friday, rising for the third consecutive session to close at 20,192, up 89.3 points, while Sensex climbed 320 points to close at 67,838.
11-day gains spree of Sensex longest streak since Oct 2007
While Sensex climbed 320 points to close at 67,838, Nifty also scaled fresh life highs on Friday, rising for the third consecutive session to close at 20,192, up 89.3 points.
Vodafone Idea hits new 52-week high on speculation of equity infusion by new investor
Vodafone Idea was up 7.61 per cent at Rs 11.73 at close of trade on BSE. Heavy volumes of the shares were trade with a combined volume of 703 million shares on BSE and NSE.
Databricks raises $500 mn, takes its valuation to $43 bn
The series is led by T Rowe Price Associates and existing investors, including Andreessen Horowitz, Baillie Gifford, ClearBridge Investments, funds, and Counterpoint Global (Morgan Stanley), Fidelity Management & Research Company, Franklin Templeton, GIC, among others.
NTPC top performer in Nifty’s rally from 19k to 20k
After a volatile and long journey from 18k to 19k, the Nifty-50 added the next 1,000 points (19k to 20k) relatively faster — only 52 trading days (from Jul’23-Sep’23) vs. 425 trading sessions (from Oct’21-Jun’23) during its journey from 18k to 19k, as per a report by Motilal Oswal Financial Services.
Infosys only Indian firm in TIME’s top 100 World's Best Companies of 2023
“Infosys has been featured in TIME World’s Best Companies 2023 list. We are among the top 3 global professional services firms and the only brand from India in the Top 100 global rankings,” the company said in a post on X (formerly Twitter).
Oil prices on track for 3rd consecutive week of gains
Brent crude was trading above $94 per barrel at the time of writing while West Texas Intermediate flirted with the $91 per barrel mark, Oil Price reported.
Hawkish stance of US Fed likely to keep gold prices muted
Gold is currently trading at $1,960, and has been fluctuating in the range of $1,880-$1,960 during the last one month
Bluechips providing resilience to market rally
Even though the undercurrent of the market is bullish the high valuations and new risks like surging crude and rising dollar index can impact the market negatively, he said.
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