Sensex drops 931 points and the Nifty hits a 2-month low due to a broad sell-off.

On October 22, the Nifty fell below 24,500 due to a combination of dismal sectoral performance, extended selling in the wider markets, and unfavorable global indications. In closing, the Nifty was down 309.00 points, or 1.25 percent, at 24,472.10, while the Sensex was down 930.55 points, or 1.15 percent, at 80,220.72. The BSE Smallcap index…

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Adani Cements would purchase a 46.8% share in Orient Cement at an equity value of Rs 8,100 crore

On Tuesday, Ambuja Cements, which Adani controls, declared that it has finalized a deal to buy Orient Cement Ltd (OCL) for an equity worth Rs 8,100 crore. According to the company, Ambuja will purchase 46.8% of OCL’s shares from its present proprietors and some public shareholders. Internal accruals will entirely finance the transaction. For Rs…

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JSW Energy and MSEDCL sign PPAs for 1,200 MW of combined solar and wind power.

JSW Renew Energy Limited and JSW Renew Energy Thirty Limited, the company’s step-down subsidiaries, signed Power Purchase Agreements (PPAs) with Maharashtra State Electricity Distribution Company Ltd (MSEDCL) on Friday for STU-connected Solar-Wind Hybrid Capacity, JSW Energy Limited announced. Two hybrid projects totaling 1,200 MW in capacity have PPAs signed by the company. Each project has…

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Benchmarks drop to two-month lows due to FPI withdrawals and poor earnings.

Benchmark indices extended their downward trajectory on Thursday, closing at their lowest points in almost two months due to disappointing earnings and ongoing selling by foreign portfolio investors (FPIs), which dampened investor sentiment. After posting dismal profits for the September quarter, Bajaj Auto saw a 13% decline, making it the biggest loss on the Nifty….

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September exports increase by a flat 0.5% while the trade deficit hits its lowest level in five months.

India’s merchandise exports increased somewhat year over year to $34.58 billion in September, albeit from a low base (-2.8%). However, with import growth also being moderate at 1.6%, the trade imbalance shrank to $20.78 billion, its lowest level in five months. With exports falling sharply by 9.3% year over year in August, the trade imbalance…

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Shares of Reliance Industries rise more than 1% following the news of a 1:1 bonus.

Mukesh Ambani’s Reliance Industries Limited (RIL) shares increased 1.1% to Rs 2,738.70 during intraday trading on Thursday after it was announced that October 28, 2024, would be the record date for identifying shareholders who qualify to get 1:1 bonus shares. Late on Wednesday, the company announced that its bonus issue had been approved by shareholders,…

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