Business News Highlights: Core Sector Growth In January At 3.6% Versus 4.9% In December
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At 10 am on Thursday, the Sensex surged by 290.74 points or 0.40 per cent to reach 72,595.62, while the Nifty rose by 60.30 points or 0.27 per cent to stand at 22,011.50. Among the stocks, 1381 witnessed an uptrend, 1606 experienced a downturn, and 105 remained unchanged.
On Wednesday, Indian equity benchmarks faced a decline exceeding one per cent, fueled by selling pressure across diverse sectors, notably impacting small and midcap stocks. The Sensex wrapped up the day at 72,304.88, registering a decrease of 790.34 points or 1.08 per cent, having touched a low of 72,222.29. Similarly, the Nifty fell to 21,918.85 during the session before settling at 21,951.20, down by 247.10 points or 1.11 per cent compared to the previous close.
Reliance Capital Limited (RCL) announced on Wednesday the possibility of delisting its shares from the stock exchanges in accordance with the approved resolution plan. Trading in the stock has been suspended, with its latest recorded decline of 4.46 per cent, reaching Rs 11.79 on Friday.
"The equity shares of RCL will stand delisted from the stock exchanges in accordance with the order of the NCLT read with SEBI (Delisting of Equity Shares) Regulations, 2021. The liquidation value of the equity shareholder of RCL is NIL, and hence, equity shareholders will not be entitled to receive any payment, and no offer will be made to any shareholder of RCL," RCL said.
"The entire existing share capital of RCL is proposed to be cancelled and extinguished for NIL consideration by virtue of the NCLT Approval Order such that IIHL and/or the Implementing Entity, and its nominees, are the only shareholders of the Corporate Debtor. The stock exchanges shall take all necessary actions to delist the equity shares of RCL; in accordance with the Approved Resolution Plan read with applicable law, including, but not limited to, the SEBI (Delisting of Equity Shares) Regulations, 2021, as amended and shall pass necessary orders/directions to this effect," the firm added.
India's GDP Growth Recorded At 8.4% In Q3 FY24
India's economy experienced an 8.4 per cent surge in GDP growth during the third quarter (October-December) of the financial year 2023-24, according to the figures released by the National Statistics Office on Thursday. As a result, the country's economic growth rate for FY24 is now estimated at a robust 7.6 per cent.
India's April-Jan Fiscal Deficit Stands At 64% Of Entire Year's Target
The fiscal deficit of the Central government for the ten-month period from April 2023 to January 2024 in the current financial year was recorded at Rs 11.03 lakh crore, according to data released by the Controller General of Accounts on Thursday. This translates to 63.6 per cent of the revised estimate of Rs 17.35 lakh crore for the entire year, suggesting that government expenditure remained within the aimed range of fiscal prudence.
IPO Of Mukka Proteins Subscribed 2.47 Times On Day 1
On the first day of bidding, Thursday, the initial public offering (IPO) of Mukka Proteins, a manufacturer of fish meal, fish oil, and fish soluble paste, was subscribed 2.47 times. According to NSE data, the Rs 224 crore initial share sale garnered bids for 13,81,99,060 shares against the 5,60,00,435 shares on offer.
Otipy Join Hands With ONDC To Sell Fruits, Vegetables
GPT Healthcare Shares Surge Almost 8% In Opening Trade
Shares of GPT Healthcare Ltd, the company behind the ILS Hospitals brand, closed with a premium of almost 8 per cent on Thursday compared to its issue price of Rs 186. The stock debuted at Rs 216.15, marking a 16.20 per cent increase on the BSE. Throughout the day, the company's shares surged by 18.11 per cent, reaching Rs 219.70.
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