Adani Market Cap up by 50% from Hindenburg Lows; PhonePe Raises $100 Million in Funding

IDBI Bank appoints Jayakumar S Pillai as Deputy Managing Director for a 3-years.

Market Summary

Closing Bell: Nifty above 18300, BANKNIFTY above 43850, Sensex gains 200 pts, IT and Metal rally.🚀

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Companies

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Sector

Metal companies witness surge in shares as Tata Steel, Hindalco, SAIL, and Vedanta join the rally, driven by export bookings and positive international price trends.

State aims to leverage the IT industry by providing necessary support and assistance.

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Market News

VRL Logistics Ltd(+10.16%) Reports Threefold Surge in Q4 Net Profit.🚀

Muthoot Finance(+8.63%) shares soar on robust Q4 results, reach new high at Rs 1,134.🚀

Adani shares emerge as top gainers, market capitalization crosses Rs 10 lakh crore after 50% surge from Hindenburg lows.🚀

Walmart aims to boost Indian exports to $10 billion by 2027, eyes toys, shoes, and bicycles.💰

RBI Governor Shaktikanta Das: Adequate Liquidity to be Maintained in Banking System, Repo Operation Addressed Banks Issues.

AB Fashion Reports Q4 Net Loss of ₹187 Crore, revenue Jumps 26% to ₹2,880 Crore.📉

CESC(-2.02%) Reports 2.1% Growth in Net Profit at ₹433 Crore, revenue Up 3% at ₹3,102 Crore.📉

SEBI proposes performance-linked management fees for mutual funds, industry reacts with concern.🧾

Power Grid Corporation of India records 4% YoY increase in profit for Q4 stock rises.⚡

TCS-led(+2.35%) consortium secures Rs 15,000 crore advance purchase order from BSNL; will deploy nationwide 4G network in India with Tejas Networks.🗼

HFCL(+0.62%) Secures Orders Worth ₹221 Crore for Optical Fiber Cables (OFC) and Unlicensed Band Radios (UBRs).

NCLAT Upholds GoFirst's Insolvency Order by NCLT, Lessors Directed to File Application.🧾

Meta Slapped with Record $1.3B European Union Privacy Fine and Ordered to Halt Data Transfers to US.💰

China-owned Gland Pharma reports 56% decline in Q4 profit, shares drop 16%.📉