HomeCURRENT AFFAIRSBUSINESSStock Market Update: Nifty touches new high; Sensex climbs 400 points on...

Stock Market Update: Nifty touches new high; Sensex climbs 400 points on positive growth data, check details

The Sensex rose 424.04 points to 67,412.48, while the Nifty gained 121.70 points to 20,254.90.

Stock Market Update: While the S&P BSE Sensex was up 0.44% at 67,286.16, as of 9.35 am, the NSE Nifty 50 index increased by as much as 0.52% to 20,238.45, a new record high. At 10 in the morning, the Nifty gained 121.70 points to 20,254.90, while the Sensex increased 424.04 points to 67,412.48. India’s GDP grew 7.6% in the September quarter, beyond consensus projections, and it continued to be the fastest-growing major economy in the world thanks to industry and government expenditure.

Flair Writing Industries listed at premium

Flair Writing Industries’ shares enjoyed a robust market debut, consistent with the listings of Tata Tech and Gandhar Oil. At the issue price of Rs. 304, the shares began trading at Rs. 490 on the National shares Exchange and Rs. 505 on the BSE. On the final day of bidding, the Rs. 593-crore public issue was subscribed 46.68 times.

Stock Market Update: UltraTech Cement Ltd acquires cement business of Kesoram Industries

According to a filing with the markets on Thursday, UltraTech Cement Ltd., the parent company of the Aditya Birla group, has purchased Kesoram Industries’ cement division in exchange for shares. A share of UltraTech will be issued for every 52 shares of Kesoram, meaning that the offer price per share would be Rs. 173.15, which is 34% more than the previous close of Kesoram. The whole anticipated worth of the acquisition, including the debt that the company will assume from Kesoram, is Rs. 7,600 crore.

Disclaimer: (This information is provided solely for informational purposes. It is important to note that investing in the market or a business idea involves market risks. Before investing money as an investor/ owner/ partner, always consult an expert. DNP News Network Private Limited never advises to invest money on stocks or any specific business idea. We will not be liable for any financial losses.)

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