Stock Market Today: Gift Nifty, the former SGX Nifty, denotes a prosperous beginning. At 23,283, Nifty futures on the Gift Nifty moved 55 points higher. When the S&P BSE Sensex closed 0.27% lower at 76,490, the NSE Nifty 50 index dropped 0.13% to 23,259 as well. Before giving up gains, the two benchmarks each had an opening rise of roughly 0.5% and reached record highs. Today the dollar hit a one-week high vs the yen and stay at a one-month high against the euro. The dollar’s strength is helped by increasing Treasury yields following unexpectedly positive employment data in the U.S. towards the end of the previous week.
Stock Market Today: Stocks in focus
IndiGo
The low-cost airline InterGlobe Aviation Limited, operating under the name IndiGo, is based in Gurgaon, Haryana, India. In terms of both passengers carried and fleet size, it is the biggest airline in India. As of April 2024, its share of the domestic market was 60.6%. According to sources, one of IndiGo’s promoters, InterGlobe Enterprises, intends to sell a block deal involving about 2% of the firm.
RVNL
The Ministry of Railways uses Rail Vikas Nigam Limited (RVNL), a central public sector organisation (PSU) in India, to carry out project implementation and create transport infrastructure. For a Central Railway project valued at Rs 138.45 crore, RVNL turned out to be the lowest bidder. Another news is that the Bangalore Metro Rail Corp project, valued at Rs 394 crore, has given the Siemens-RVNL partnership a letter of acceptance (LoA). It was established in 2003 in order to address the nation’s rapidly increasing infrastructure needs, expedite project implementation, and establish a railroad equipment construction business.
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