Nifty(+1%) in green, Jio to raise $1.5Bn & more
Market Summary
Indices gain amidst mixed global cues Financials lead market rebound, Nifty end at day’s high with a gain of 125 pts.
Companies
SBI (+3%) today. Yesterday SBI hiked its interest rates by 20 basis points. Bajaj Finserv (+2%) has revised its gold loan interest rates which is starting at 9.50%. Axis Bank(2%) even though IRDAI imposed Rs 2Cr penalty. L&T (-2%) as SEBI approved the sale of L&T Investment Management and L&T Mutual Fund to HSBC Mutual Fund.
Sectors
Nifty PSU Bank (+4%), Nifty Bank (+2%) & Nifty Pvt Bank (+2%) are up as bank stocks shine in the market.
News of The Day
1. Shares of Bajaj Auto (+2%) after the company posts the highest-ever quarterly operating profits. (India Times)
2. Jio is in talks with Global lenders to raise $1.5Bn. The funds will be raised through external commercial borrowings to buy 5G network gear from Nokia. (India Times)
3. ReNew Power will invest Rs 30,000Cr over the next 2 years to scale up its wind and solar energy capacities. (Economic Times)
4. Aviom India Housing Finance plans equity raise of $30Mn. The funds will be utilized to grow loan assets to Rs 1,300Cr (Economic Times)
5. Eupheus Learning aims to double revenue to Rs 300Cr by March, Plans to hire 150 people by November. (Moneycontrol)
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