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Sensex falls 800 points, Nifty below 17,300; Pharma stocks slip

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3 years ago

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Sensex falls 800 points, Nifty below 17,300; Pharma stocks slip

Top-tier stock indexes extended losses and were at session lows in midday trading, each down 1.4 percent. The BSE Sensex fell 814 points to 57,830, while the NSE Nifty lost 250 points to 17,266.
On Sensex, L&T is now the biggest loser, down 2.6%, followed by HDFC Bank, Bajaj Twins, Dr Reddy’s and Infosys. SBI, Tata Steel PowerGrid, NTPC, Tech M and Reliance were the only six gainers on the Sensex index. Meanwhile, only 10 stocks in the Nifty50 index are in the green.
In the broader market, the BSE midcap and small cap indexes lost 0.9% and 0.6%, respectively.
In the primary market, the pace of Vedant Fashions’ IPO remains sluggish, with 17% subscribed so far as of the 2nd, while the retail segment is 27% subscribed.
Among stocks, Lupin fell 6% to Rs 816.25, down 9% in the past two sessions, as the drugmaker reported lower-than-expected margins and net profit in the third quarter of FY12 (Q3FY22) due to One-time costs associated with residues Provision for metformin returns and oseltamivir legacy returns.
Against the backdrop of the recently announced results for the quarter ended December 2021 (Q3-FY22), foreign brokerages remain divided on the outlook for Paytm’s stock and the company’s performance.
Asian shares were mixed on Monday, with mainland Chinese markets gaining after reopening after the Lunar New Year holiday last week. In midday trade, the Shanghai Composite was up 2.06%, while the Shenzhen Composite was up 1%.
On the other hand, Hong Kong’s Hang Seng lost 0.33%. In Japan, the Nikkei 225 lost 0.76% and the Topix lost 0.27%. The KOSPI also fell 0.43%.

Complete News Source : Business Standard

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Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise

Published

3 weeks ago

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October 10, 2024

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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.

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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.

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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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