Business
Sensex drops 585 points to 56,521 in early trade, Nifty sheds 191 points
The major stock indexes Sensex and Nifty fell more than 1% in early trading on Monday due to sharp declines in financial stocks, IT stocks and auto stocks, and there are still concerns about the emergence of a new COVID variant Omicron.
30 shares of BSE Sensex fell 585.22 points, or 1.02%, to 56,521.93 points, of which 25 components lost money.
Due to declines in Adani Ports, Tata Motors and Hero MotoCorp, the broader Nifty of the National Stock Exchange fell 191.40 points, or 1.12 percentage points, to 16,835.05.
Among Sensex stocks, HDFC fell 1.61%, HUL fell 1.22%, and Maruti fell 0.88%.
Asian Paints, Bajaj Auto, UltraTech Cement, ITC, HDFC Bank, ICICI Bank, Infosys and SBI are the main losers.
After the Reserve Bank of India (RBI) allowed promoters to hold 26% of private banks in 15 years, IndusInd bucked the trend and rose by more than 1%. Bharti Airtel and RIL also rose, limiting losses in the index.
FII investors are net sellers of Indian stocks because they sold shares worth 5,785.83 crore last Friday.
As investors continue to evaluate the risks of the new COVID variant Omicron to economic recovery, Asian markets also fell.
Japan’s Nikkei 225 Index fell 0.47%, Hong Kong’s Hang Seng Index fell 0.34%, and China’s Shanghai Composite Index fell 0.42%.
News Source : Hindustan Times
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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