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India’s benchmark stock indices closed at record highs, buoyed by gains in banking, energy and FMCG stocks. The Sensex closed 0.71% higher at 59141.16 and Nifty ended 0.63% higher at 17629.50.
Nifty Bank (2.22%), FMCG (1.24%) and Energy (1.47%) were the top sectoral gainers. Metal and IT sectors lost 0.62% each.
Indian rupee was almost flat as it lost only 2 paise to close at 73.52 against the US dollar.
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ITC: The company’s shares jumped as much as 8% to Rs 233.3 on BSE — its biggest intraday surge since May 20, 2020. The jump is attributed to rising consumption of cigarettes on gradual unlocking of the economy, uptick in hotel occupancy and improving FMCG on higher discretionary demand, according to analysts.
Vodafone Idea: Shares of the telecom operator hit through the roof soaring 25.7% to close at Rs 11.25. The surge was due to investor optimism for the outlook of the company after the Union Cabinet approved a relief package to the telecom sector.
State Bank of India: The public sector lender said it will offer credit score-linked home loans at 6.70% irrespective of the loan amount. For home loans above Rs 75 lakh, the interest rate has been reduced to 6.7%, from 7.15%. This will help borrowers to save more than Rs 8 lakh, for a Rs 75 lakh loan with a 30-year tenure. The bank has also removed the interest distinction between salaried and non-salaried borrowers. Hence, there will be no occupation-linked interest premium charged to home loan borrowers.
BHEL: The government-owned enterprise commissioned a solar photovoltaic plant of 25 MW capacity in Andhra Pradesh. The plant is situated at NTPC Simhadri in Andhra Pradesh and the 25 MW floating SPV project covers an area of 100 acres, BHEL said.
TVS Motor: The company launched its new motorcycle TVS Raider in the 125cc segment and its price starts from Rs 77,500. The Raider will have a reverse LCD digital speedometer, optional five-inch TFT cluster which has an interface to interact with the driver with a voice assistant, multiple ride modes.
Tata Steel: The company said it would convert its heavily polluting steel mill in the Netherlands to a cleaner mills powered by natural gas or hydrogen by the end of the decade, if the Dutch government would shoulder part of the costs, according to Reuters news report. “This relates to subsidies, building of infrastructure for the transport of hydrogen and necessary permits”, Tata Steel Netherlands said, without providing financial details.
Power Finance Corporation: The company said it has issued bonds worth 300 million euros for a tenure of seven years. Th company said the issuance saw a strong participation from institutional investors across Asia and Europe and was oversubscribed 2.65 times. The pricing of 1.841% is the lowest yield locked in by an Indian issuer in the euro markets, it added.