Varun Beverages' shares fell 3.4% after raising Rs 7,500 crore through a QIP at a 4.97% discount. The company reported strong Q3 profit and revenue growth.
Europe is facing another winter of high energy prices as the luck of favourable weather and low Asian demand for LNG has run out. Despite efforts to diversify, Europe remains reliant on Russian gas, raising questions about its commitment to weaning itself off Russian energy while supporting Ukraine.
Tata Power's shares dipped 2.6% after announcing a partnership with Bhutan's Druk Green Power Corporation to develop 5,000 MW of renewable energy projects in Bhutan. The collaboration will focus on hydropower and solar projects, leveraging Bhutan's resources and India's energy demands.
Swaminathan Aiyar, Consulting Editor of ET Now, shared his insights on the Maharashtra and Jharkhand Assembly election exit polls, suggesting that while the BJP-led alliance might have a slight advantage in Maharashtra, the results remain uncertain. He highlighted the BJP's challenge with 'defector parties' and personally believes that the Congress-Uddhav Thackeray coalition might secure victory in both states.
Amid a weak market sentiment, the Nifty 50 index was able to snap its 7-day losing streak after settling 64.70 points or 0.28% higher at 23,518.50 in Tuesdays trading session.The index has fallen by nearly 10.5% from its peak of 26,277 made in September while the broader markets have also witnessed a slowdown. The Nifty smallcap 100 index has fallen around 6% in the month so far while the Nifty midcap 100 index has tumbled around 4%.Among the smallcap sector, stocks have witnessed a decline of as much as 78% from their 52-week high. Here is a list of 38 smallcap stocks that were the worst hit in the market decline:
U.S. regulators are urging a federal judge to order the breakup of Google, arguing that it's necessary to curb the company's monopolistic grip on the search market. The Justice Department's proposal includes forcing Google to sell its Chrome browser and implement measures to prevent Android from favoring its search engine.
PSP Projects share price: Adani Infra is set to acquire a 30.07% stake in PSP Projects from existing shareholder Prahladbhai S. Patel. The deal aims to boost PSP Projects' growth in the Indian infrastructure sector, with Adani planning significant investments. PSP Projects will retain its current leadership, but Adani Infra will gain equal board representation.
