Adani Group to Acquire Majority Stake in Sanghi Industries(+4.97%); Dalal Street Shivers as US Credit Downgrade Rattles Investors

Industry Push-Back Prompts SEBI to Revise Mutual Fund Fee Plan New Options Aim to Limit Impact on AMCs.

Market Summary

Closing Bell: Nifty below 19600, BANKNIFTY slips below 45000, Weekly Expiry Tomorrow, Sensex tanks 670 pts, Metal, Media, and PSU Banks slips. 📉

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Market News

Adani Group's Expands Ambuja Cements to Acquire Majority Stake in Sanghi Industries(+4.97%). 🧾

Godrej Properties(-1.90%) QoQ Profits Plunge 70%, Revenue Down 32% at Rs 1,315 Crore. 📉

Sanghi Industries(+4.97%) Shares Soar to 52-Week High Ambuja Cements Set to Acquire Majority Stake in Rs 6,000 Crore Deal. 💸🚀

Adani Wilmar(-3.05%) Records Q1 Loss of Rs 79 Crore Edible Oil Price Slump Reflects in 12% Revenue Decline. 📉
Hero MotoCorp(-3.50%) Shares Extend Losses ED Raids Chairman's Residence, Stock Drops 3% Amidst DRI Case; Total Sales Decline 12% in July. 🕵️📉

Indian Overseas Bank(-2.96%) Reports Q1 Results Net Profit Surges 27.50% to Rs 500 Crore, 22% Rise in Net Interest Income, GNPA Declines to 7.13%. 💰

TVS Motor(+0.73%) Rides on July Performance 4% Sales Growth Fuels 1.3%. ✔️🏍️

Dhanuka Agritech(-1.53%) Q1 Profits Drop 32% at Rs 32.9 Crore, Revenue Declines 6% Intraday to Rs 369 Crore. 📉