Stock Market Today: The GIFT Nifty on the NSE IX fell by 44.5 points, or 0.20 percent, at 22,099, indicating that Dalal Street would have a poor start to the week. The domestic equities markets’ surge and new inflows of foreign funds propelled the rupee’s strength, which it maintained for the ninth straight session, settling at a 9-paise gain against the US dollar on Monday. The BSE Sensex ended the day up 759 points, or 1.05%, at 73,328, while the NSE Nifty finished the day up 202 points, or 0.93%, at 22,097.
Stock Market Today: Stocks in focus
Zomato
Motilal Oswal Mutual Fund sold 4.5 crore equity shares in the food delivery giant through open market transactions, amounting to 0.51 percent of paid up equity. These shares were sold for an average of Rs 138.15 each. Motilal Oswal Flexi Cap Fund held 15.94 crore shares, or 1.83 percent of Zomato, as of December 2023.
PNC Infratech
In order to divest 12 road assets in Uttar Pradesh, Madhya Pradesh, Karnataka, and Rajasthan, PNC Infratech and its subsidiary PNC Infra Holdings have signed final agreements with Highways Infrastructure Trust (HIT), an Infrastructure Investment Trust (InvIT). Together with the earn-outs, the transaction has an enterprise value of Rs 9,005.7 crore.
Jio Financial Services
For the quarter that ended in December of FY24, Jio Financial reported a consolidated profit of Rs 293.82 crore, down from Rs 668.2 crore the previous quarter. Due to the company’s lack of dividend income in Q3 FY24 compared to Rs 216.85 crore in Q2 FY24, total revenue from operations was Rs 413.6 crore as opposed to Rs 608 crore during the same period. During the quarter, interest income increased to Rs 269 crore from Rs 186 crore in the preceding quarter.
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