Business
MARKET: Sensex down 300 pts, Nifty below 17150; PSBs, realty under pressure
The broader index was off the day’s lows in midday trade, but continued to come under selling pressure for the fourth straight session as global cues were uneven. The BSE Sensex fell 68 points to 57,544, while the NSE Nifty50 lost 25 points to 17,189.
Of the 30 Sensex stocks, 13 rose between 0.6-2%, led by gains in Bajaj Twins, Titan, Asian Paints, Wipro, Maruti, RIL and Tata Steel. On Nifty, Divis Labs, Cipla and Britannia were additional winners.
In the broader market, the BSE midcap and small cap indices continued to underperform, down 0.5% and 1.2%, respectively. Among midcap stocks, Tata Power, Sona BLW Precision, Bhel, Gujarat Gas, Adani Power, PFC, GlaxoSmithKline, Union Bank of India and Bank of India were the biggest losers, down 2-6%.
Sector-wise, the Nifty Pharma and Healthcare indexes were the only gainers, rising as much as 0.2%. Real estate, metals, IT and banks continued to come under pressure, trading down 1%.
Among individual stocks, shares of Biocon hit a six-month high of Rs 410.50 in intraday trade on Tuesday after its subsidiary Biocon Pharma received ANDA approval for U.S. posaconazole delayed-release tablets, up 3% on BSE U.S. Foods Drug Administration (USFDA).
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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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