Sensex climbed 477.99 points or 0.80 p꧑er cent to scale 60,545.61 on Monday, whereas Nifty surged 151.75 points or 0.85 per cent to 18,068.55. Titan was the biggest gainer in the Sensex pꩵack, spiking over 4 per cent, followed by UltraTech Cement, Bajaj Finserv, Tech Mahindra, Kotak Bank and HDFC.
Private lender IndusInd Bank had a day full of woes, as it fell 12.33 per cent during trade hours to Rs 1,042.10 on the BSE. It eventually closed at 10.71 per cent lower at Rs 1,061.45 Private lender on Thursday had said allegations of lapses in governance and accounting norms leading to 'evergreen' loans by the bank are "inaccurate and baseless". It was responding to an Economic Times report, whic𒈔h stated that acting as whistleblowers, several people, including senior employees of the IndusInd Bank's Bharat Financial Inclusion (BFIL), have informed the Reserve Bank of India (RBI) about governance lapses and accounꦺting norms meant to be 'evergreen' loans.
It said that loans are disbursed by the BFIL only after the Biometric authorisation of the customers. However, due to a technical glitch in May 2021, nearly 84,000 loans were�ꦗ� disbursed without the customer consent getting recorded at the time of loan disbursement.
Automobile manufacturer Mahindra & Mahindra wo🌞uld be revealing its second-quarter res꧅ults on Tuesday. Last week, the vehicle manufacturer reported a nearly 6 per cent year-over-year fall in vehicle sales in October at 41,908 units. Th𒀰e company mentioned that shortage o𓆉f semi-conductor parents continued to affect its operations.
Auto component maker Bosch is also scheduled to reveal its quarterly numbers today. The company had reported a net profit of Rs 260 crore in the June-end quarter compared to a los♒s of Rs 121 crore reported in the corresponding period, last year. Its revenue had more than doubled on a year-over-year basis to Rs 2,443 crore in the first quarter. How it responded to the duress enabled by the second wave of COVID-19 would be of much inter💞est to investors.
Reliance Industries is expected to garner sizeable attention on Tuesday. It announced on Tuesday that it would 🐽exit the last of its shale gas assets in the United States. 💎It would divest its holding in EagleFord shale gas assets for an undisclosed amount. "Reliance Eagleford Upstream Holding, LP, a wholly-owned step-down subsidiary of RIL, announced the signing of agreements with Ensign Operating III, LLC, a Delaware limited liability company to divest its interest in certain upstream assets in the Eagleford shale play of Texas, USA," the company stated.
Biscuit ma⛎ker Britannia ꦑreported a 23 per cent rise on a YoY basis to Rs 384.22 crore for the September-end quarter. Revenue grew 5.5 per cent to reach Rs 3,607.4 crore in Q2, this translates to a 5.5 per cent increase over the corresponding period, last year.
🦋In other developments, KFC-franchise operator in India Sapphire Foods informed that it has raised Rs 933 crore from anchors prior to IPO rollout on Tuesday. The company would allocate 7.9 million equity shares to 53 anchor investors at Rs 1,180 per share. The total transaction size is now Rs 932.96 crore. Digital payments enabler Paytm's IPO was subscribed only 18 per cent on the first day of bidding. Supposed to be the country's biggest and most-awaited IPO, its parent One97 Communication received bids for 88.23 lakh equity shares against the offered size of 4.83 crore shares. Today would be the second day of its subscription.
