News Overview

UltraTech has announced an open offer for a 26% stake in India Cements at ₹390 per share, a 4% premium to the recent closing price.

The company believes that the incorrect demand will be revised to reflect a tax liability of NIL, ensuring no material financial impact.

The company's revenue from operations declined by 1.7% to ₹10,068.1 Crore, compared to ₹10,244.6 Crore in the corresponding period of the previous fiscal year.

The company's strategic use of IPO proceeds for equipment purchase, debt repayment, and general corporate purposes

Under the contract, BHEL will handle the Engineering, Procurement, and Construction (EPC) of the power station.

The two primary data points that are due this week are the ADP national employment report and the non-farm payrolls report.

Ahead of the Bank of England's policy decision on Thursday, the value of sterling remained stable at a 2-1/2-week low relative to the euro.

Brent crude futures increased by 20 cents, or 0.3%, to $81.33 a barrel. West Texas Intermediate (WTI) oil futures for the United States increased by 9 cents, or 0.1%, to $77.25 a barrel.

Ola Electric Mobility Ltd's IPO is a significant event in the Indian EV market, providing investors an opportunity to participate in the growth of a leading player in the industry.

FPIs may have been upset about the budget, but the market indices gave a thumbs-up and, rightly so!