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MARKETS: Sensex up 750 points, Nifty above 17,300; Infosys, Wipro rise 3%
Frontline indexes extended gains in midday trade, supported by positive support from global peers. The BSE Sensex rose 908 points to 58,109, while the NSE Nifty gained 17,370 points, up 268 points. Tech M was the top gainer in the Sensex, up 4.5%, followed by Dr Reddy’s, up more than 3%, on the back of strong third-quarter results. It was followed by IT giants Wipro, Infosys and heavyweight RIL, up 2.5-3%. BPCL is an additional gainer for Nifty, beating its earnings by nearly 4%.
In broader markets, the BSE midcap index outperformed its benchmark, rising 1.5%. Of this group, InfoEdge, Mindtree, UBL, Jubilant Foo, Canara Bank, India Hotels, AU Small Finance Bank and Godrej Properties were the top gainers, rising between 4-7%.
InfoEdge rose 7% among mid-cap stocks on the back of strong third-quarter results. The company posted a standalone net profit of Rs 1,332.5 crore, up 90.7% from Rs 698.7 crore in the third quarter of fiscal 2021. Its net sales rose 48.1% year-on-year to Rs 4,032.6 crore in the quarter.
Likewise, recently listed company Chemplast Sanmar traded 17% higher after the chemical company posted a 48% rise in consolidated PAT to Rs 236.86 crore in the December quarter on revenue of Rs 1,431.68 crore.
Elsewhere in Asia, markets were mostly higher after a strong overnight performance on Wall Street. Japan’s Nikkei 225 rose 1%, while Hong Kong’s Hang Seng also rose 1%. South Korea’s Kospi also rose 1.87%.
Complete News Source : Business Standard
Business
Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise
%20(3).jpg "Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise")
Tributes continue to pour in for Ratan Tata, with Virat Kohli and Jay Shah taking to their social media accounts to bid farewell to the industrialist.
Former Indian captain and batting legend Virat Kohli paid a touching tribute to Ratan Tata, the legendary business tycoon, who passed away on Wednesday night. Tata, a Padma Vibhushan recipient, was undergoing treatment in intensive care since Monday but breathed his last in Mumbai, leaving a profound impact on many across the nation.
Kohli expressed his condolences through his Instagram account on Thursday morning, sharing a heartfelt message along with a photo of the late industrialist.
Tata’s contribution to business, society, and philanthropy has been widely acknowledged, and his passing marks the end of an era.
The Board of Control for Cricket in India (BCCI) secretary, Jay Shah, also conveyed his sorrow, stating, “Deeply saddened by the loss of Shri Ratan Tata Ji. His leadership, integrity, and dedication to society set a remarkable standard for legacy. My heartfelt condolences to his loved ones. Rest in peace, Sir.” Shah’s words reflect the collective grief of a nation that has long admired Tata’s contributions to the country.
BCCI’s tribute
Additionally, the BCCI issued a statement about his demise.
“The BCCI expresses its deepest sorrow and joins the nation in mourning the passing of Shri Ratan Tata ji. His invaluable contributions across diverse fields have been instrumental in shaping India’s growth and success story.
His extraordinary legacy, founded on the principles of passion, empathy, visionary leadership, innovation, and excellence, will continue to inspire and guide future generations for years to come,” the statement read.
Ratan Tata, born on December 28, 1937, in Mumbai, embarked on his journey with the Tata Group in 1962 as a young executive. Over the decades, he transformed the group into a global conglomerate. His work was acknowledged with India’s second-highest civilian honour, the Padma Vibhushan, in 2008, and he received numerous accolades, including honorary doctorates from prestigious institutions in India and abroad.
Tata is survived by his family, including brothers and sisters Simone Tata, Jimmy Tata, Noel Tata, Aloo Tata, Shireen Jejeebhoy, Deanne Jejeebhoy, Leah Tata, Maya Tata, Neville Tata, Manasi Tata, Jamset Tata, Tiana Tata, and others, as mentioned in a family statement.
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