Read more about Top headlines: Direct tax compliance may ease, RBI open to digital currency on Business Standard. Business Standard brings you the top headlines of the day
Movers & Shakers | Top 10 stocks that moved the most last week
Experts feel the volatility will continue in the coming truncated week as we are moving closer to Budget and expiry of January derivative contracts. January 24, 2021 / 10:25 AM IST The BSE Sensex fell 156.13 points to 48,878.54 and the Nifty50 lost 61.80 points at 14,371.90, while the broader markets underperformed frontliners for the second consecutive week. Experts feel the volatility will continue in the coming truncated week as we are moving closer to Budget and expiry of January derivative contracts. Bajaj Auto | The stock gained over 14 percent after the two-wheeler manufacturer, clocked its highest ever standalone profit at Rs 1,556.3 crore in December 2020, rising 23.4 percent compared to the year-ago period, driven by volume growth and operating performance. Its revenue increased by 16.6 percent year-on-year to Rs 8,910 crore, which was also the highest for a quarter. Volumes grew by 9 percent YoY
Nifty, Sensex may be under pressure – Weekly closing report
Moneylife Digital Team
The major indices had rallied this week with the Sensex crossing the 50,000 milestone but faced a major correction soon after, ending with a net loss over previous Friday’s closing price.
On Monday, the major indices opened high but declined and ended with losses. On the NSE, there were 420 advances, 1,512 declines and 311 unchanged.
HDFC Bank standalone profit for the Oct-Dec 2020 quarter (Q3FY21) grew 18% YoY (year-on-year) to Rs 8,758.3 crore. Net interest income grew by 15.1% YoY to Rs 16,317.6 crore.
IndiaMART Intermesh reported 29% YoY rise in net profits for Q3FY21 at Rs 80.2 crore compared to Rs 62 crore. Revenue grew 9% YoY to Rs 198 crore compared to Rs 181.5 crore.
The SEBI, in its letter of approval, listed a number of conditions in accordance to the Composite Scheme of Arrangement. The regulatory body has also referred to the apprehensions raised by Amazon.
Mukesh Ambani moves up ‘rich list’ by 2 slots
January 23, 2021
Reliance Industries Chairman Mukesh Ambani - THE HINDU×
Reliance Industries chief’s net worth stands at $91 b
The fortunes of Mukesh Ambani are closely tied up with the ebb and flow of the stock market, and now with the Sensex touching the 50,000-mark, the billionaire has also moved up two slots in the global rich list.
The Chairman and Managing Director of Reliance Industries Ltd (RIL) is now the seventh richest man globally with a net worth of $91 billion.
Zhong Shanshan, the richest
However, Zhong Shanshan, Chairman of the Chinese bottled-water company Nongfu Spring, continues to be the richest Asian with a networth of $100 billion, and ranks the sixth richest globally. Zhong with a networth of $93.8 billion as of January 8 had dethroned Ambani (with a networth of $88 billion then) to become the richest Asian, according to data collated by Hurun Research.