ZEEL(+16.55%) Surges as Zee-Sony Merger Gets NCLT Nod; Paytm(+2.33%) Gains 2% on RBI's UPI-Lite Limit Hike to Rs 500

Incremental CRR Imposed by RBI to Drain Rs 1 Lakh Crore from Banking System.

Market Summary

Closing Bell: Nifty below 19600, BANKNIFTY slips below 44600, on weekly expiry, Sensex tanks 300 pts, FMCG Healthcare, and PSU Banks slips.

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Market News

ZEEL(+16.55%) Stock Surges 16% as Zee-Sony Merger Gets NCLT Nod: Rapid Intraday Rise to ₹278.55. 🚀

RBI Holds Repo Rate Steady at 6.5%, CPI inflation raised to 5.4% from 5.1% for FY24, April-June GDP growth seen at 6.6%. 🧾✔️

IRCTC(-0.34%) Shares Slip as Q1 Profits Dip 7% to Rs 231 Crore, Revenue Surges 17.5% Impacted by Operating Margins. 🚂📉

Paytm(+2.33%) Shares Rise 2% as RBI Proposes UPI Lite Transaction Limit Increase to Rs 500 from Rs 200. 💸🚀

Bata India's(-3.20%) Q2 FY23 Performance: Net Sales Rise 1.6%, Net Profit Decline 10.45%. 👟📉

Page Industries(+2.64%) Q1 FY24 Net Profit Dips 23% to Rs 158.35 Crore, Revenue Falls 7.5% to Rs 1240 Crore. 📉💰

Granules India(-6.36%) Shares Slide 6% as Q1 FY24 Net Profit Plummets 62.4% to Rs 47.9 Crore, Revenue Declines 3.3% YoY. 💊📉

CarTrade Tech(+1.34%) Shares Surge 7% Intraday on Impressive 307% YoY Profit Jump, Revenue up by 18% in Q1FY24. 🚗

Grasim Industries(-0.83%) Q1 Net Profit Slumps 56% to Rs 355.3 Crore, Revenue Declines 14% to Rs 6,237.6 Crore. 📉