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From the time Sir Dorabji <keyword id="19904884" type="General" weightage="20" keywordseo="tata" source="keywords">Tata</keyword> sponsored a handful of Indian athletes to the 1920 Antwerp Olympics, Tata group has been a constant in India's sporting landscape and the conglomerate's involvement only grew under <keyword id="19981455" type="General" weightage="100" keywordseo="ratan-tata" source="keywords">Ratan Tata</keyword>, who considered sport a "way of life". The chairman emeritus of Tata Sons died here at the age of 86 on Wednesday after being admitted to a hospital on Monday for "age and related medical conditions". His death triggered an avalanche of tributes from eminent personalities from all walks of life and sports was no different. From being the title sponsor of the glitzy Indian Premier League of cricket to supporting lesser-followed sports like archery to owning a football team in the Indian Super League to sponsoring a high-profile chess tournament, the Tata group has been deeply involved with the country's sporting ecosystem. Most of this involvement grew during Ratan Tata's tenure. "He always believed in 'sports is the way of life' and we are happy to carry forward the legacy. We have been the torchbearer of sports with 19 sporting verticals from football, hockey, archery to horse riding, boxing, karate, racket sports. You name it, we have it," an official involved with the JRD Tata Sports Academy, which was inaugurated in 1991 in Jamshedpur, told PTI. The growth in Tata Group's sporting involvement under Ratan Tata was the continuation of a legacy. After all, Sir Dorabji Tata, who played cricket, tennis and football, was the first President of the Indian Olympic Association (1924). This was after he had financed the Olympic appearance of four track-and-field athletes and two wrestlers at the Antwerp Games, helping organise their trials in Pune as well. Tata Steel Chess, which is also called the 'Wimbledon of chess', is a marquee event on global chess calendar, held at <keyword id="20385206" type="General" weightage="20" keywordseo="wijk-aan-zee" source="keywords">Wijk Aan Zee</keyword>, the Netherlands. It wasn't always known that. It was Corus Chess Tournament for the longest time before Tata Steel took over the title sponsor company, thereby claiming the rights of this event from 2007 onwards. Five-time world champion and Indian chess legend <keyword id="20221790" type="General" weightage="20" keywordseo="viswanathan-anand" source="keywords">Viswanathan Anand</keyword> was among the first sports icons to pay tributes to the late industrialist, saying that he "touched all our lives". "It is with profound sadness that we bid farewell to a giant of industry and philanthropy. We received our Padma Vibhushan together, and I was truly touched by his humility and genteel nature," Anand wrote on X. "The chess fraternity owes much to the traditions that are so closely associated with the Tata Group. @tatasteelchess in Holland is an event that made us chess players particularly proud, especially when the Tatas took over Corus, and later starting a new tradition with @tschessindia," he added. "The chess world and I offer our deepest condolences to @RNTata2000, a human being who touched all our lives and always stood for the good of society. Rest in peace," Anand continued. Tata Foootball Academy started back in 1987 under <keyword id="23494114" type="General" weightage="20" keywordseo="russi-mody" source="keywords">Russi Mody</keyword>, the then chairman of Tata Steel, who had the backing of Ratan Tata for the project. The academy has been supplying national level footballers since early '90s with its some of its noted alumni being current All India Football Federation head and former goalkeeper Kalyan Chaubey, Rennedy Singh, Dipendu Biswas and Kiran Khongsai. "TFA has played a pioneering role in Indian football by focusing on nurturing young talent and contributing significantly to the development of football in the country," the official associated with JRD sports complex said. "He (Ratan Tata) was there at the launch of Jamshedpur FC in the ISL in 2017. he interacted with the players and coaches, took photos with them. They also presented him with a signed jersey. He was very happy to see the team coming up and playing in the top tier ISL," he recalled. The enigmatic businessman was there to launch the hockey academy in Jamshedpur in 2019. "...perhaps for the last time he was here," the official said. Hockey India said Ratan Tata will be remembered as a "shining gem". "Your vision and endless contribution to our nation will never be forgotten. Your legacy will forever live with us till eternity. Hockey India pays tribute to one of Modern India's Pioneers - Ratan Naval Tata," it added. The legendary <keyword id="19919207" type="General" weightage="20" keywordseo="sachin-tendulkar" source="keywords">Sachin Tendulkar</keyword> said Ratan Tata's legacy will continue through his foundations. "In his life, and demise, Mr Ratan Tata has moved the nation. I was fortunate to spend time with him, but millions, who have never met him, feel the same grief that I feel today. Such is his impact," <keyword id="20012835" type="General" weightage="20" keywordseo="tendulkar" source="keywords">Tendulkar</keyword> wrote. The Tata Archery Academy in Jamshedpur has been the training ground for ace Indian archers Deepika Kumari and Atanu Das for several years. Given Tata Group's involvement in India's Olympic movement, it was hardly a surprise to see an outpouring of tributes from some of country's top athletes. "I'm very sorry to hear about the passing of Shri Ratan Tata ji. He was a visionary, and I'll never forget the conversation I had with him. He inspired this entire nation. I pray that his loved ones find strength. Om Shanti," posted India's track-and-field Olympic gold-winner, Neeraj Chopra. India's first-ever Olympics medal winner in badminton, <keyword id="20204318" type="General" weightage="20" keywordseo="saina-nehwal" source="keywords">Saina Nehwal</keyword> described him as a great man. "Ratan Tata sir aapki legacy hamesha humare saath rahegi. RIP (sic). (A great man and true visionary. Tata sir your legacy will always remain with us," she said. One of India's greatest spin bowlers and former captain Anil Kumble said, "Mr. Ratan Tata's contribution extends far beyond business. His legacy of giving back to society will continue to inspire future generations. Rest in peace." "An institution who embodied Excellence, Vision and Humility. A Philanthropist par excellence. A massive loss to society. Condolences to the entire Tata family. God bless his soul #RatanTata," wrote former India player and coach <keyword id="19958622" type="General" weightage="20" keywordseo="ravi-shastri" source="keywords">Ravi Shastri</keyword>.

The Tata effect on Indian sports: Ratan Tata's demise mourned by India stalwarts

<keyword id="19976119" type="General" weightage="20" keywordseo="Zee" source="keywords">ZEE</keyword> Entertainment Enterprises Ltd and <keyword id="19914172" type="General" weightage="20" keywordseo="Sony" source="keywords">Sony</keyword> Pictures Networks India on Tuesday said they have settled their disputes related to the failed USD 10-billion merger and have agreed to withdraw all claims against each other. The settlement stems from a mutual understanding between the companies to independently pursue future growth opportunities with a renewed purpose and focus on the evolving media and entertainment landscape, signifying the definitive conclusion of all disputes, the two companies said in a joint statement. ZEE Entertainment Enterprises Ltd and Culver Max Entertainment Pvt. Ltd. (CMEPL) have arrived at a comprehensive non-cash settlement, amicably resolving all disputes related to the merger co-operation agreement and the composite scheme of arrangement, it said. Under the agreement, the companies have mutually agreed to withdraw all respective claims against each other, in the ongoing arbitration at the Singapore International Arbitration Centre (SIAC), and all related legal proceedings initiated in the National Company Law Tribunal (<keyword id="6355809" type="General" weightage="20" keywordseo="nclt" source="Orion">NCLT</keyword>) and other forums, it added. The companies will also withdraw the respective composite schemes of Arrangement from the NCLT and inform the relevant regulatory authorities. In January this year, Sony had pulled out from the proposed USD 10-billion merger with ZEE Entertainment Enterprises Ltd citing failure to meet certain "closing conditions" by the Indian firm. The deal collapsed after over two years of announcing it. Subsequently, the two parties went to the courts. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-16-to-be-launched-on-september-9-heres-everything-we-know-so-far/articleshow/112828818.cms">Apple iPhone 16 to be launched on September 9 – here’s everything we know so far</a> <a href="https://www.businessinsider.in/stock-market/news/a-company-with-8-employees-looking-to-raise-12-crore-ended-up-getting-applications-worth-over-4700-crore/articleshow/112824522.cms">Delhi firm with just 8 employees seeks ₹12 crore via IPO, gets ₹4,700 crore worth of investor applications!</a> <a href="https://www.businessinsider.in/tech/news/telegram-comes-under-the-scanner-in-india-for-extortion-and-gambling-will-it-be-banned-in-india/articleshow/112807370.cms">Telegram comes under the scanner in India for extortion and gambling – will it be banned in India?</a>

Zee and Sony amicably settle disputes over their failed merger, withdraw claims

<keyword id="19941210" type="General" weightage="20" keywordseo="Kangana-Ranaut" source="keywords">Kangana Ranaut</keyword>’s much-anticipated film Emergency, a biographical drama centered on former Prime Minister <keyword id="19913949" type="General" weightage="20" keywordseo="Indira-Gandhi" source="keywords">Indira Gandhi</keyword>, has been delayed due to a certification battle with the Central Board of Film Certification (CBFC). Initially slated for a September 6 release, the film has faced hurdles as the CBFC's revising committee suggested certain cuts before issuing a certificate. The <keyword id="19905533" type="General" weightage="20" keywordseo="Bombay-High-Court" source="keywords" meta.keywordsubtype="org" meta.entityname="Bombay High Court" meta.hostid="261" meta.entityid="Bombay High Court">Bombay High Court</keyword> is now involved, with further hearings scheduled, raising questions about when the film will finally hit theatres. <h2>The battle for certification</h2>On Thursday, the CBFC told the Bombay High Court that a certificate would be issued to Emergency only if the recommended cuts were made. Ranaut, who directed, co-produced, and stars as Indira Gandhi in the film, had accused the CBFC of intentionally delaying the film's release by withholding certification. She suggested that the delay was politically motivated, especially given the upcoming elections in states like Haryana. The film's co-producer, <keyword id="20068359" type="General" weightage="20" keywordseo="Zee-Entertainment" source="keywords">Zee Entertainment</keyword> Enterprises, took the matter to court, seeking a directive for the CBFC to issue the required certificate. The division bench of Justices B.P. Colabawalla and Firdosh Pooniwalla expressed frustration with the CBFC’s indecision. In a previous hearing, the court had remarked that the censor board cannot sit on a fence and has to take its decision one way or the other as it would otherwise amount to curtailing the freedom of speech and expression. In response to the court’s directive, CBFC’s counsel Abhinav Chandrachud explained, “The committee has suggested some cuts before a certificate can be issued and the movie can be released.” Senior counsel Sharan Jagtiani, representing Zee Entertainment, requested more time to decide whether these cuts could be accepted, with the court now awaiting a final decision in the next hearing scheduled for September 30. The delay in certification stems partly from objections raised by some <keyword id="23262146" type="General" weightage="20" keywordseo="Sikh-organisations" source="keywords">Sikh organisations</keyword>, including the Shiromani Akali Dal, accusing the film of misrepresenting their community and historical facts. This controversy has only added to the uncertainty surrounding the film’s release, as sensitive portrayals of political and historical events often attract close scrutiny in India. <h2><keyword id="23323607" type="General" weightage="20" keywordseo="political-motivations" source="keywords">Political motivations</keyword></h2>The controversy has led to speculation about political motivations, with Zee Entertainment alleging that the certificate was being withheld due to the upcoming elections in Haryana. This claim has raised eyebrows, given that Kangana Ranaut has been a vocal supporter of the Bharatiya Janata Party (BJP) and is herself a BJP MP. The court even wondered aloud why the ruling party would take issue with the film. Emergency was expected to be a major release, particularly due to its portrayal of one of the most significant and controversial periods in Indian political history — the 1975-1977 Emergency imposed by then-Prime Minister Indira Gandhi. However, the film’s release is now dependent on the outcome of the ongoing court proceedings and whether Kangana Ranaut and Zee Entertainment are willing to comply with the CBFC’s suggested edits. The CBFC’s recommended cuts have not been publicly disclosed, leaving many wondering what specific elements of the film are in dispute. With the next court hearing scheduled for September 30, it remains to be seen whether Emergency will make its way to theatres soon or face further delays. (With inputs from PTI)

What will it take for Kangana Ranaut’s 'Emergency' to finally hit theatres?

New Delhi, Shares of <keyword id="19976119" type="General" weightage="20" keywordseo="zee" source="keywords">Zee</keyword> Entertainment Enterprises Ltd (ZEEL) tumbled 12 per cent in the mid-session trade on Wednesday amid reports that Sebi has found financial discrepancies in the accounts of the company. The stock of the company nosedived 11.58 per cent to Rs 170.65 apiece on the <keyword id="19895774" type="General" weightage="20" keywordseo="bse" source="keywords">BSE</keyword>. ZEEL shares plunged 11.39 per cent to Rs 170.70 per piece on the NSE. In the mid-session trade, the scrip also hit its lower circuit limit on the bourses. The 30-share BSE Sensex benchmark rose 90.17 points or 0.12 per cent to 73,147.57, while Nifty of the NSE rose 40.25 points to 22,237.20. As per the reports, during Sebi's probe into Zee's founders, the regulator discovered that approximately Rs 2,000 crore (equivalent to USD 241 million) may have been diverted from the company. However, the company spokesperson clarified that the reports related to accounting issues are "incorrect and false". The report suggested that the <keyword id="19901204" type="General" weightage="20" keywordseo="securities-and-exchange-board-of-india" source="keywords">Securities and Exchange Board of India</keyword> (Sebi) has been in conversation with senior officials at Zee, including its founders <keyword id="20115911" type="General" weightage="20" keywordseo="subhash-chandra" source="keywords">Subhash Chandra</keyword> and his son Punit Goenka, and some board members to explain their stance. Further, the report noted that the amount found missing is not final and may change after Sebi reviews the responses from the company executives. A ZEEL spokesperson said, "The reports and rumours pertaining to accounting issues in the company are incorrect and false. Pursuant to the Securities Appellate Tribunal (SAT) order, which granted relief to the current Key Managerial Personnel (KMP), the company has been in the process of providing all the comments, information or explanation requested by SEBI, and has extended complete co-operation on all aspects." On Tuesday, shares of ZEEL settled 8 per cent higher amid reports that Zee and Sony Pictures Networks (<keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>) are working to salvage their USD 10-billion merger. ZEEL shares have seen a massive downfall after the collapse of its merger with Sony Group Corp's India unit.

Zee Entertainment shares tumble 12%, hit lower circuit limit

<ul><li>Culver Max Entertainment, terminated the two-year deal with <keyword id="19976119" type="General" weightage="20" keywordseo="zee" source="keywords">Zee</keyword> Entertainment on Monday.</li><li><keyword id="19914172" type="General" weightage="20" keywordseo="sony" source="keywords">Sony</keyword> is also seeking a $90 million termination fee from Zee, while the latter is refuting it and evaluating legal options.</li><li>Analysts downgraded the Zee stock as merger possibility was driving it for the last two years. </li></ul>The stock of <keyword id="20044563" type="General" weightage="20" keywordseo="zee-entertainment-enterprises" source="keywords">Zee Entertainment Enterprises</keyword> slumped by 32.7% on Tuesday, a day after Sony called off a merger deal with it. It was one of the top losers on Bombay Stock Exchange for the day. The bourses revised the lower circuit limit for the company to 35%. The stock closed at ₹155.9 per share by the end of the trading session. Culver Max Entertainment, formerly known as Sony Pictures Networks India, terminated the two-year deal with Zee Entertainment (ZEEL) of a possible merger on Monday. The merger could have created a $10 billion behemoth. Sony is also seeking a $90 million termination fee, which has led analysts to quickly downgrade the stock. “Merger with Sony was the key valuation driver to move up in the past two years. But given the termination, we downgrade Zee to ‘sell’,” says a report by Elara Capital. Troubles ahead? With the merger prospects gone, ZEEL valuation will slump back to its 2021 days, and brings back a lot of its earlier troubles to the fore. As per <a href="https://www.businesstoday.in/markets/stocks/story/troubles-mount-for-zee-punit-goenka-as-report-says-sebi-probe-reveals-up-to-rs-1000-cr-siphoned-414538-2024-01-23?utm_source=webengage&amp;utm_medium=mailer&amp;utm_campaign=newsletter&amp;utm_content=storypage">a CNBC TV18 report</a>, a probe by market regulator SEBI might spell even more trouble for the company. As per the SEBI report, Puneet Goenka, the CEO of the company might have siphoned as much as ₹800 crore from the company, as compared to the earlier reported figure of ₹200 crore. Added to that, analysts have also flagged off many issues around the company – both operational and governance-wise. In 2019, the company went through a promoter pledging crisis. After which, Zee promoters repaid loans with multiple stake sales that brought down its promoter shareholding from 42% to a mere 4%. Its earnings performance too has been dismal over the last two years. “Since the announcement of the merger, Zee’s profitability has eroded due to weak industry dynamics. For instance, on an absolute basis, Zee’s PAT slid around 48% over FY21–23,” said a report by CLSA. Ashwin Patil, Senior research analyst at LKP Securities expects more pain in the stock. "Zee is operationally facing a lot many challenges in the form of subdued advertising business, depleting viewership share in its key markets like Hindi GEC, Tamil and Marathi markets. The stock is seeing a free fall today and may see some buying post we see a further fall in it," he said. Zee, like most of its peers, might also face heavy competition from yet another mega media deal that’s in progress as per media reports. The Disney Hotstar merger with Reliance’s Viacom will threaten most players in the industry. “Meanwhile, Reliance’s Viacom and Disney+Hotstar deal shall get wrapped up soon. Both the entities together hold major cricket broadcasting rights such as IPL, ICC and other Indian bilateral cricket series. In our view, for Zee to be a serious player in sports and to scale up its OTT, it would need a financial partner,” said <keyword id="20055355" type="General" weightage="20" keywordseo="nuvama-institutional-equities" source="keywords">Nuvama Institutional Equities</keyword>.

Zee horror show: Stock slumps over 32% after merger with Sony is called off

New Delhi, Shares of <keyword id="19936674" type="General" weightage="20" keywordseo="reliance" source="keywords">Reliance</keyword> Industries on Thursday ended nearly 1 per cent higher after <keyword id="19936671" type="General" weightage="20" keywordseo="walt-disney-co" source="keywords">Walt Disney Co</keyword> and the firm announced the signing of binding pacts to merge their media operations in India to create a Rs 70,000 crore behemoth. The stock of the country's most valued firm in terms of market valuation ended at Rs 2,924.75, up 0.54 per cent on the BSE. During the day, it climbed 1.68 per cent to Rs 2,958. Shares of the company ended with a gain of 0.66 per cent at Rs 2,930.75 on the NSE. During the day, it went up by 1.60 per cent to Rs 2,957.95. The company's market valuation stood at Rs 19,78,794.25 crore. In the broader equity market, the 30-share BSE benchmark climbed 195.42 points or 0.27 per cent to settle at 72,500.30, and the Nifty went up by 31.65 points or 0.14 per cent to 21,982.80. Under the deal, coming just over a month after the failed USD 10 billion merger of rivals <keyword id="19976119" type="General" weightage="20" keywordseo="zee" source="keywords">Zee</keyword> and <keyword id="19914172" type="General" weightage="20" keywordseo="sony" source="keywords">Sony</keyword>, Reliance and its affiliates will hold 63.16 per cent in the combined entity that will house two streaming services and 120 television channels. Disney will hold the remaining 36.84 per cent, the companies said in a statement on Wednesday. Reliance has also agreed to invest at closing Rs 11,500 crore into the joint venture to give it the muscle to fight rivals such as Japan's Sony and Netflix. Media ventures of Reliance are housed in Network 18, which owns TV18 news channels as well as a plethora of entertainment (under the 'Colors' brand) and sports channels. NW18 also has stakes in moneycontrol.com, bookmyshow and publishes magazines. Its subsidiary NW18 owns news channels CNBC/CNNNews. Reliance separately owns a movie production arm - JioStudios, and majority stakes in two listed cable distribution companies, Den and <keyword id="20777796" type="General" weightage="20" keywordseo="hathway" source="keywords">Hathway</keyword>.

RIL shares climb nearly 1% after announcing mega merger

<ul><li><keyword id="19912128" type="General" weightage="20" keywordseo="chandra" source="keywords">Chandra</keyword> hit upon the idea to launch a TV channel after he saw big hotels showing CNN via satellite dishes during the Gulf War.</li><li><keyword id="19976119" type="General" weightage="20" keywordseo="zee" source="keywords">Zee</keyword> was India’s first private TV channel and had pioneered many superhit TV shows, reality shows and kickstarted the careers of many media barons.</li><li>Chandra entered the infrastructure business and planned a hostile takeover of IVRCL which failed.</li><li>By the mid-2010s, his new ventures had piled up a huge debt which pushed him to sell stake in crown jewel, Zee.</li></ul>Remember Hum Paanch? <keyword id="20328693" type="General" weightage="20" keywordseo="zee-antakshari" source="keywords">Zee Antakshari</keyword>? Phillips Top 10? These shows, now shared around social media by nostalgia lovers, were the first taste of Hindi TV programmes for many millennials. The generation saw the country move away from one or two channels with very limited entertainment programming; with the entry of private companies into satellite programming, forcing Indians to buy TVs that needed remotes. The man who made this revolution possible was Subhash Chandra, a bright young man from Hisar. Born into an Agrawal Bania family, Chandra entered into business early in his life, and in the 70s before TV wasn’t around in India. After his family business fell into debt, he had to abruptly leave college, go back to Haryana and work on repaying debts. He started off running a pulse polishing mill with moderate success, but his fortunes improved as he supplied grains to Food Corporation of India (FCI). By late 80s and early 90s, he was exporting rice and soybeans to Russia, and had also started a packaging company. It was all running smoothly, until one election season he saw that politicians were renting out vans with projectors and screens for their roadshows. He later learnt that Five-Star Hotels owned satellite dishes and were telecasting CNN during the Gulf War. That’s when the idea of broadcasting content with ads in between came to him, he told Outlook Business in <a href="https://www.outlookbusiness.com/specials-34/secret-diary-of-an-entrepreneur_2018/live-in-the-present-dont-recount-and-regret-the-past-4353">Secret Diary of Subhash Chandra</a>. <div type="image" title="hum paanch twitter" msid="107136147" hostid="261" caption="&amp;lt;p&amp;gt;Source: Twitter (Now X) &amp;lt;/p&amp;gt;"></div> The realm of reality TV As he went about it, he was laughed off by DD executives, who coolly told him that they employ hundreds of people and equipment worth thousands of crores. He then intended to lease a transponder in Hong Kong and broadcast from there. STAR’s Li Ka-shing was not so receptive to the idea of broadcasting business in India. After many twists and turns, he rented a transponder; and India’s got its first Hindi channel in the Star bouquet in 1992. Initially there was only three hours of programming, with reruns of old DD serials. But it soon branched<a href="https://www.livemint.com/Opinion/JV7xB6PWkkl5q2Glq8tT8K/The-zee-story-turns-20.html"> out with chat shows </a>like Chakravyuha. Many media barons like Ronnie Screwala who produced the chat show started their careers at Zee. Pritish Nandy also had a show on it called Fiscal Fitness. The hugely popular Aap Ki Adalat, which now airs on India TV, also debuted on Zee. Rajat Sharma, its popular interviewer, also expanded the group’s political vista. The Union Minister Smriti Irani was briefly a stringer for Zee News which was launched later by the group. She, however, also became the star of Star Plus’ super hit TV show Kyunki Saas Bhi Kabhi Bahu Thi in early 2000s. In addition to comedy shows, Zee diversified into drama shows like Neena Gupta starring Parampara in addition to <keyword id="20328692" type="General" weightage="20" keywordseo="zee-horror-show" source="keywords">Zee Horror Show</keyword>. Its hugely popular Antakshari show was hosted by stars like Renuka Shahane, Pallavi Joshi and Annu Kapoor. <div type="image" title="annu kapoor" msid="107136187" hostid="261" caption="&amp;lt;p&amp;gt;Source: Twitter (Now X)&amp;lt;/p&amp;gt;"></div> Bags of fan mail In spite of growing success, Chandra had to convince advertisers to shift from print and outdoor ads to TV advertising. He did it by lugging along bags of fan mail sent by viewers of his shows. By the time other players saw how valuable reaching all over India with Hindi shows was, he was miles ahead. He added more channels across movies, music in addition to news, across languages to his bouquet. By the time the world entered the new millennium, he had captured a large chunk of India’s eyeballs, not to mention hearts. The deal with Richard Li, son of Li Ka-shing also included an option to buy 25% stake in the venture within a year. By the time he realised it was good business, the option had long expired. Chandra refused to sell him the stake, took his company public, and the issue was subscribed 60 times over. The goatee-sporting man had become one of India’s first media barons and a billionaire. A failed hostile takeover By 2004, his media conglomerate was running steady, but Chandra, true to himself, was already hunting for the next big bet. The sector he chose was infrastructure. Back then, India was building roads, adding power generation as well as distribution assets, and setting-up ports and airports with a renewed fervour. Many small regional players like GMR and GVK became national companies after they won large-scale airport projects. It seemed like a good business. However, by the time Chandra entered it in 2008, the sector was showing signs of fatigue, due to credit crunch and more. Players were seeing the effects of adding heavy debt onto books. One such company was Hyderabad-based IVRCL which had a good set of projects, sizeable orderbook but was crushing under debt, in 2012. It was borrowing money for working capital purposes, and projects were moving ahead slower. Chandra believed that a hostile takeover of the company would catalyse its infra business which was executing a few highway projects. He went in and acquired a tad over 12% stake in the company when IVRCL too changed track. It stopped bidding for new projects, started monetising its projects and paring down its debt. Eventually Chandra had to sell off his stock at a loss. Takeovers are a high stakes game. Though the financials were never disclosed, the assumption, based on the company’s market cap at that time, he might have spent ₹200 crore on it. On the other hand, its own infrastructure business never scaled up later on, and continued to report deep losses for the next few years. It was a strategy gone wrong, as he later admitted in his open letter. Politics to pledging In 2016, Chandra made his political debut to become a Rajya Sabha MP representing BJP in Haryana. The close contest between him and the Congress candidate R K Anand was also interesting in other ways too. Chandra was declared winner after 14 votes were made invalid as they used the wrong pens. In 2022, Chandra changed his ‘native home <a href="https://www.newslaundry.com/2022/06/08/why-subhash-chandras-rajya-sabha-dreams-are-now-congresss-nightmares">town’ to Rajasthan</a> and filed his nomination as an independent candidate backed by BJP. He however accepted defeat after he fell short of over 40 votes. On the other end, his business was branching out into many businesses, with varying successes, soaking in capital. It entered financial services, acquired Peerless Mutual Fund, investment banking, private equity and much more. It went into education with a chain of K-12 schools, gold refineries in addition to related media businesses like Fun Cinemas and Dish TV. He also had plans for a wellness company. These expansions came at a cost, and a huge debt. The group soon had 87 operating companies which had straddled debt to the tune of ₹17,000 crore, as per estimates. How was so much money raised? The promoters had to pledge their shares in listed entities like Zee Entertainment, Dish TV, Zee Media Corporation, SITI Networks, <keyword id="19960022" type="General" weightage="20" keywordseo="zee-learn" source="keywords">Zee Learn</keyword> and Shirpur Gold refinery. Reports suggest that <a href="https://www.thequint.com/amp/story/news%2Fbusiness%2Fdoes-zee-news-need-a-commercial-bank-subhash-chandra#read-more">anywhere between 60-90% of their </a>shares in these companies were pledged with lenders in the mid-2010s. The chickens however came to roost in 2018 when the<a href="https://economictimes.indiatimes.com/markets/stocks/news/ilfs-crisis-spilling-beyond-finance-chandras-zee-feeling-the-heat/articleshow/67734787.cms?from=mdr"> NBFC IL&amp;FS bankruptcy spooke</a>d the markets, making it tough for him to rollover debt. The loss of crown jewel Soon, the promoters were forced to sell the stake that they had pledged. Zee’s promoter shareholding fell from 42% to a dismal 4% in its crown jewel, Zee Entertainment. In the meanwhile, its flagship Zee’s earnings also started dwindling, worrying analysts and investors; that led the market regulator to look into it. Between 2021 and 2023, its profits slid by 48%. In 2021, for the second time in two years, Chandra admitted to his mistakes that led to default. He announced <a href="https://economictimes.indiatimes.com/industry/media/entertainment/media/subhash-chandra-claims-91-debt-with-43-lenders-settled/articleshow/85007881.cms?from=mdr">that he had settled</a> 91% of his debts with 43 lenders. “I have no regrets for parting with a substantial ownership in the business and specially in the jewels of the crown,” he said in an open letter. Apart from the promoter crisis, the businesses were moving at a slow pace too. Satellite pay TV has become less attractive to viewers now used to streaming. Dish TV, owned by his brother, has been losing steam as well. Edtech is facing its own existential crisis. His digital ventures of Zee5 progressed but at a slow rate due to heavy competition. There are no updates on his plans for its metaverse venture, oddly named Maayaverse. On top of it, Zee’s plans to merge with Sony fell through, after two years of negotiations. Sony is also seeking a $90 million termination fee, which Zee intends to contest. That means more legal troubles, barely a year after it settled a dispute with J C Flowers, an asset reconstruction company. Chandra and his son Puneet Goenka are now part of a <a href="https://www.ndtv.com/india-news/sebi-subhash-chandra-punit-goenka-sebis-flowcharts-explain-how-zee-bosses-allegedly-faked-loan-recovery-4119857">probe by market regulator SEBI</a>, to see if money was siphoned off from the listed entities. That would be a tough spot to any businessman, let alone one who is devoid of crown jewels and without a seat in the parliament. SEE ALSO <a href="https://www.businessinsider.in/thelife/personalities/webstories/subrata-roys-journey-from-lucknows-sahara-shahar-to-londons-grosvenor-house-to-tihar-jail/slidelist/105234003.cms">Subrata Roy’s journey from Lucknow’s Sahara Shahar to London’s Grosvenor House to Tihar Jail</a>

From A to Zee: Subhash Chandra’s spectacular rise and fall

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> surged in morning trade on Friday despite negative cues in global markets. </li><li>Leading the morning gains were IT, FMCG and PSU bank stocks. </li><li>Both the benchmark indices are up by 0.3%, with Sensex hovering at 62,079 points and Nifty50 hovering at 18,374 points.</li></ul>India’s benchmark indices Sensex and Nifty50 surged in morning trade on Friday despite negative cues in global markets. Leading the morning gains were IT, FMCG and PSU bank stocks. Both the benchmark indices are up by 0.3%, with Sensex hovering at 62,079 points and Nifty50 hovering at 18,374 points. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Industries </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.66% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.78% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.27% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grasim Industries </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.48% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consumer </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.10% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid Corporation </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.55% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.09% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bhartti Airtel </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.42% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.98% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.34% </td></tr></tbody></table> Source: NSE, as on May 26, 2023 Earlier on Thursday, markets closed in the green after a recovery in the fag-end of the trading session, closing 0.2% higher. Gold prices edged lower to ₹59,500 per 10 grams while silver was hovering at ₹70,200 per kilogram. Crude oil prices edged lower, with Brent crude hovering at $76 per barrel. <cmsannotation type="cmsannotation" annotationid="Global markets remain in a flux over US debt ceiling" comment="subhead" text="Global markets remain in a flux over US debt ceiling">Global markets remain in a flux over US debt ceiling</cmsannotation> Global markets remained in a flux over the US debt ceiling crisis. While Dow Jones fell 0.11%, S&amp;P 500 closed 0.88% higher on Thursday. The tech-heavy Nasdaq rallied 1.71%. Sentiments in Asian markets were similarly mixed, with Hang Seng falling 1.97%, followed by Shanghai Composite which was down 0.55%. Taiwan Weighted was up 1.12%, while Nikkei 225 gained 0.97%. KOSPI edged up too, gaining 0.2%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> <keyword id="6372205" type="General" weightage="80" keywordseo="zee" source="Orion">Zee</keyword> Entertainment: The media and entertainment company reported a net loss of ₹196 crore in the March quarter as against a profit of ₹182 crore a year ago. Revenue declined 9% YoY to ₹2,112 crore. Vodafone Idea: The telco trimmed its losses in the March quarter to ₹6,419 crore from ₹6,563 crore a year ago and ₹7,988 crore in the December quarter. Its revenue rose 3% YoY to ₹10,532 crore, while average revenue per user (ARPU) remained flat sequentially at ₹135. Reliance Industries: The company’s FMCG arm, Reliance Consumer Products, completed the acquisition of a 51% stake in Lotus Chocolates for ₹74 crore and also subscribed to the company’s non-cumulative redeemable preference shares for ₹25 crore. Earnings today: <keyword id="6354737" type="General" weightage="100" keywordseo="ongc" source="Orion">ONGC</keyword>, <keyword id="46869" type="General" weightage="20" keywordseo="mm" source="Orion">M&amp;M</keyword>, Sun Pharmaceuticals, Bharat Heavy Electricals, Avalon Technologies, Indigo Paints, Samvardhana Motherson International, TCI Express, Grasim Industries, among others. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/lic-shares-surge-over-3-after-it-posts-a-five-fold-jump-in-q4-net-profit/articleshow/100495712.cms">LIC shares surge over 3% after it posts a five-fold jump in Q4 net profit</a> <a href="https://www.businessinsider.in/stock-market/news/adani-enterprises-titan-eicher-motors-tata-motors-reliance-and-other-big-companies-performance-in-nifty-50/articleshow/100474408.cms">Big boys drive Nifty50’s revenue and profit growth in FY23</a> <a href="https://www.businessinsider.in/business/corporates/news/gqg-partners-rajiv-jain-doubles-down-on-his-adani-bet/articleshow/100450041.cms">GQG Partners’ Rajiv Jain doubles down on his Adani bet</a>

Sensex, Nifty50 surge in morning trade led by IT, FMCG and PSU bank stocks

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="80" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> witnessed a see-saw movement in the first half of trading on Thursday. </li><li>Realty, bank and auto sectors dragged the indices down, while FMCG and IT sectors advanced. </li><li><keyword id="90570" type="General" weightage="20" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword>, an early indicator of how the markets may perform, was up 0.27% or 47 points early in the morning today. </li></ul>India’s benchmark indices Sensex and Nifty50 witnessed a see-saw movement in the first half of trading on Thursday. Realty, bank and auto sectors dragged the indices down, while FMCG and IT sectors advanced. While the 30-stock Sensex was down 0.06% to 59,717 points, the 50-stock Nifty50 was down 0.09% to 17,549 points as at 1 p.m. on Thursday. Earlier on Wednesday, markets witnessed a rout with both Sensex and Nifty50 declining 1.53%. All the sectoral indices closed in the red, with metals, banks, IT and realty among the top losers. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.36% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.20% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.58% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.35% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.30% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.27% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.29% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan Company </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.79% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.06% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.25% </td></tr></tbody></table> Source: NSE, as at 1 p.m. on February 23, 2023 However, comments of two members of the RBI Monetary Policy Committee (MPC), Jayant R Varma, and Ashima Goyal, could offer some comfort to the markets. Varma and Goyal both voted against RBI’s 25 basis point hike earlier in February, saying that any further hike would adversely affect India’s economic growth. <cmsannotation type="cmsannotation" annotationid="US markets mixed on fears of further rate hikes" comment="subhead" text="US markets mixed on fears of further rate hikes">US markets mixed on fears of further rate hikes</cmsannotation> Fear of further rate hikes led to the S&amp;P 500 and Dow Jones Industrial Average declining – while S&amp;P 500 closed 0.16% lower, Dow Jones fell 0.26%. The tech-heavy Nasdaq, however, gained 0.13%. The US Fed’s minutes from the January 31-February 1 meeting showed there were no surprises – the consensus among Fed officials was that the pace of rate hikes should be slowed down to 25 basis points. However, the minutes did outline the hawkish outlook of the central bank. Asian markets were mixed on Thursday morning, with Taiwan Weighted gaining the most at 1.52%, followed by KOSPI at 1.25%. Hang Seng was up 0.64%, while Shanghai Composite gained 0.14%. Nikkei 225, however, fell 1.36%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> <keyword id="6358361" type="General" weightage="80" keywordseo="biocon" source="Orion">Biocon</keyword>: Kotak Special Situations Fund have invested ₹1,070 crore in the biopharma major. The company plans to utilise the proceeds for financing its subsidiary Biocon Biologics acquisition of the biosimilars business of its partner Viatris. <keyword id="6357252" type="General" weightage="20" keywordseo="hero-motocorp" source="Orion">Hero MotoCorp</keyword>: The two wheeler maker has initiated operations of its public charging infrastructure in Bengaluru, Delhi and Jaipur. Vida, powered by Hero, has set up nearly 300 charging points at 50 locations across these three cities for public use. <keyword id="51166" type="General" weightage="80" keywordseo="zee-entertainment" source="Orion">Zee Entertainment</keyword>: The bankruptcy court has admitted two of Essel Group’s listed companies <keyword id="6372205" type="General" weightage="100" keywordseo="zee" source="Orion">Zee</keyword> Entertainment Enterprises and Siti Network for insolvency proceedings, which will impact the merger process of Zee and Sony. Orient Cement: The cement maker has terminated proposal to set up a cement grinding unit at Tiroda, Maharashtra with Adani Power Maharashtra. Delhivery: Internet Fund III Pte, a fund managed by Tiger Global Management has sold 1.7% stake in the supply chain company for ₹414 crore through open market transactions. <cmsannotation type="cmsannotation" annotationid="Stocks in F&amp;O ban" comment="subhead" text="Stocks in F&amp;O ban">Stocks in F&amp;O ban</cmsannotation> Vodafone Idea is the only company banned in the F&amp;O segment today. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/india-incs-q3-earnings-largely-meet-analyst-expectations-but-consumption-slowdown-a-worry/articleshow/98154526.cms">India Inc's Q3 earnings largely meet analyst expectations, but consumption slowdown a worry</a> <a href="https://www.businessinsider.in/business/news/sell-off-by-fiis-does-not-impact-markets-retail-participation-is-more-important-says-sebi-executive-director/articleshow/98153452.cms">Sell off by FIIs does not impact markets; retail participation is more important, says SEBI executive director</a> <a href="https://www.businessinsider.in/stock-market/markets/news/more-money-to-made-on-investment-beyond-nifty50-stocks/articleshow/98142890.cms">More money to be made on investment beyond Nifty50 stocks</a>

Markets witness choppy trading as realty, bank and auto indices drag

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> fell in the first half of trading on Tuesday after a flat opening in the morning. </li><li>Dragging the indices down were FMCG, oil &amp; gas and metal stocks. </li><li><keyword id="90570" type="General" weightage="20" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword>, an early indicator of how the markets may perform, was up 0.05% or 9 points early in the morning today.</li></ul>India’s benchmark indices Sensex and <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword>50 fell in the first half of trading on Tuesday after a flat opening in the morning. Dragging the indices down were FMCG, oil &amp; gas and metal stocks. SGX Nifty, an early indicator of how the markets may perform, was up 0.05% or 9 points early in the morning today. While the 30-stock Sensex was down 0.2% or 120 points to 59,167, the 50-stock Nifty50 was down 0.2% or 36 points to 17,357 halfway through the day today. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.97% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.43% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports &amp; SEZ </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.52% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.27% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.54% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.87% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.46% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.77% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.35% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharat Petroleum </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.56% </td></tr></tbody></table> Source: NSE, February 28, 2023 Earlier on Monday, the markets saw volatile movement, closing the day in the red. While Sensex fell 0.3% to 59,288 points, Nifty50 declined 0.42% to 17,393 points. Most of the sectoral indices ended the day in red, with IT, metal and auto stocks falling the most. Worries of more rate hikes by the US Fed led to a decline in oil futures, with the Brent crude falling to $82 per barrel. <cmsannotation type="cmsannotation" annotationid="Global markets show positivity" comment="subhead" text="Global markets show positivity">Global markets show positivity</cmsannotation> Markets in the US closed in the green on Monday as buyers hunted for bargain purchases. The Dow Jones Industrial Average gained 0.22% while S&amp;P 500 closed 0.31% higher. The tech-heavy Nasdaq closed 0.63% in the green. In Asia, most markets were in the green on Tuesday morning, led by KOSPI at 0.9% and followed by Hang Seng at 0.59%. Nikkei 225 gained 0.43% while Shanghai Composite was up 0.15%. Taiwan Weighted, on the other hand, was down 0.72%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> <keyword id="6358032" type="General" weightage="20" keywordseo="spicejet" source="Orion">SpiceJet</keyword>: Carlyle Aviation Partners will acquire 7.5% stake in the airline to reduce debt by $100 million by converting outstanding dues and snap up shareholding in the cargo business. In addition, the airline will also tap the qualified institutional buyer (QIB) route to raise up to ₹25,000 crore. <keyword id="1553175" type="General" weightage="20" keywordseo="vodafone-idea" source="Orion">Vodafone Idea</keyword>: Shareholders of debt-ridden telco have approved the preferential issuance of up to ₹1,600 crore of optionally convertible debentures to vendor American Tower Corp. Dr Reddy’s Laboratories: The pharma company is planning to buy Mayne Pharma’s US generic prescription product portfolio for $105 million. For this, it will acquire the portfolio for an upfront payment of $90 million in cash, contingent payment of up to $15 million. Bharti Airtel: The company’s chairman Sunil Bharti Mittal said at the Mobile World Congress in Barcelona that he is hopeful of telecom tariffs being hiked by the middle of this year. The returns on capital in telecom business is very low, which is why the rate hike is expected this mid year. <keyword id="51166" type="General" weightage="20" keywordseo="zee-entertainment" source="Orion">Zee Entertainment</keyword>: Amid the insolvency proceedings in NCLAT, the NSE said that the company may move out of the OBC framework and the corresponding surveillance actions on it will be reverted. Also, the F&amp;O contracts for May 2023 expiry will be available for trading from February 28. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/passenger-vehicles-to-continue-driving-auto-sales-in-february-evs-gain-a-stronghold/articleshow/98272857.cms">Passenger vehicles to continue driving auto sales in February, EVs gain a stronghold</a> <a href="https://www.businessinsider.in/business/corporates/news/spicejet-to-raise-2500-crore-fresh-capital-convert-carlyles-debt-into-equity-and-demerge-cargo-biz/articleshow/98270557.cms">SpiceJet to raise ₹2,500 crore fresh capital, convert Carlyle’s debt into equity and demerge cargo biz</a> <a href="https://www.businessinsider.in/business/corporates/news/stock-price-run-up-in-paytm-nykaa-zomato-pb-fintech-delhivery-could-see-large-shareholders-cashing-out-bofa/articleshow/98274102.cms">Stock price run up in Paytm, Nykaa, Zomato, PB Fintech &amp; Delhivery could see large shareholders cashing out - BofA</a>

Sensex, Nifty50 fall amid increased volatility: FMCG, oil & gas, metal stocks drag indices down

<ul><li><keyword id="20068359" type="General" weightage="20" keywordseo="zee-entertainment" source="keywords">Zee Entertainment</keyword> has backed out from a $ 1.4 billion licensing agreement with <keyword id="19976118" type="General" weightage="20" keywordseo="disney-star" source="keywords">Disney Star</keyword> for the TV broadcast right for cricket matches.</li><li>This is reportedly a fallout of collapse of its merger deal with <keyword id="19914172" type="General" weightage="20" keywordseo="sony" source="keywords">Sony</keyword>.</li><li>Sony Corporation had on Monday announced the termination of the $ 10 billion merger.</li></ul> Zee Entertainment has backed out from a $ 1.4 billion licensing agreement with Disney Star for the TV broadcast right for cricket matches as a fallout of collapse of its merger deal with Sony, according to industry sources. Zee Entertainment Enterprises Ltd (<keyword id="20115912" type="General" weightage="20" keywordseo="zeel" source="keywords">ZEEL</keyword>), which has already missed the first instalment of around $ 200 million, will not move ahead, industry sources told PTI. The instalment to be paid to Disney Star was part of the $ 1.5 billion investment committed by Sony Group after its merger with ZEEL, said another industry source while confirming the development. Sony Corporation had on Monday announced the termination of the $ 10 billion merger agreement with ZEEL, while seeking $ 90 million for breach of conditions besides initiating arbitration. As per the merger agreement between ZEEL and Sony, the Japanese entity was supposed to invest $ 1.575 billion in the merged entity and have a majority stake. There were no immediate comments from ZEEL over the development. Three days after Sony called off the deal, ZEEL MD &amp; CEO <keyword id="20130441" type="General" weightage="20" keywordseo="punit-goenka" source="keywords">Punit Goenka</keyword> addressed a townhall meeting of around 3,000 employees across the globe, in which he asked them to move forward and chase new opportunities. "Our industry is witnessing rapid changes, and these winds of change are giving us a new shape. We have to mould ourselves to be well-positioned in order to capitalise on the opportunities coming our way. We have been leaders over the last 3 decades and have delivered value to our stakeholders, year on year," he said. On August 30, 2022, ZEEL had announced entering into a strategic licensing agreement with Disney Star for television broadcasting rights of the ICC Men's and Under-19 global events for a period of four years. Disney Star will continue to exclusively stream all ICC tournaments through its digital platform Disney+ Hotstar, a joint statement had said. This was done with the in-principle approval from the International Cricket Council (ICC). Disney Star bagged the broadcast rights of all ICC events for four years from 2024 to 2027 for the Indian market from the sport's global governing body. As per the agreement, ZEEL was supposed to have exclusive television rights for ICC men's events, including the ICC Men's T20 World Cup, which will be played in 2024 and 2026, ICC Men's Champions Trophy (2025), and the ICC Men's Cricket World Cup (2027), along with key ICC U-19 events, it said. ZEEL on Wednesday approached the National Company Law Tribunal (NCLT) to get Sony to honour a $ 10 billion merger deal. Sony had resisted the demand by Subhash Chandra's son Punit Goenka, who was investigated by Sebi over fraud allegations, to stay on after the merger. It has also initiated appropriate legal actions to contest the claims of $ 90 million (Rs 748.5 crore) filed by Sony Group before the Singapore International Arbitration Centre (SIAC). SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-12-vs-oneplus-12r-heres-whats-different-between-the-two-devices/slidelist/107138750.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-12-vs-oneplus-12r-heres-whats-different-between-the-two-devices/slidelist/107138750.cms" target="_blank">OnePlus 12 vs OnePlus 12R – What distinguishes the two new smartphones</a> <a href="https://www.businessinsider.in/business/auto/news/rolls-royce-spectre-rolls-out-as-indias-most-expensive-electric-car/articleshow/107051636.cms">Rolls Royce Spectre rolls out as India’s most expensive electric car</a> <a href="https://www.businessinsider.in/tech/news/global-pc-shipments-decline-for-the-eighth-straight-quarter-hopes-pinned-on-ai-to-drive-sales/articleshow/106981182.cms">Global PC shipments decline for the eighth straight quarter; hopes pinned on AI to drive sales</a>

Zee Entertainment backs out from $1.4 bn deal with Disney Star

<ul><li>The <keyword id="6484188" type="General" weightage="100" keywordseo="sensex" source="Orion">Sensex</keyword> closed 0.99% or 600 points higher at 61,032 while the <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> ended 0.89% or 159 points higher at 17,929.</li><li>Meanwhile, all eyes were on the US inflation data to be released later today that would determine the course of interest rate hikes.</li><li>Adding to the cheer was inflows from foreign institutional investors (FIIs) in the last couple of days.</li><li>Most sectoral indices ended higher on Tuesday with FMCG, Metal, PSU bank and IT among top gainers.</li></ul>India’s benchmark indices Sensex and Nifty50 ended higher on Tuesday led by gains in shares of index heavyweight Reliance Industries, Adani companies and ITC amid positive global cues. Meanwhile, all eyes were on the US inflation data to be released later today, which would determine the course of interest rate hikes. Adding to the cheer was inflows from foreign institutional investors (FIIs) in the last couple of days. “Domestic indices edged higher, inspired by their global counterparts, as investors await the US inflation numbers today. The whammy over India’s retail inflation breaching the RBI’s tolerance level was cooled by WPI inflation easing to 4.73% in January. IT stocks were in focus as investors anticipated a slowdown in US inflation, which could result in favourable Fed policy,” said Vinod Nair, head of research at Geojit Financial Services. The Sensex closed slightly above 61,000 – at 61,032, up 0.99% or 600 points while the Nifty50 ended 0.89%, or 159 points, higher at 17,929. <keyword id="118623" type="General" weightage="80" keywordseo="adani-enterprises" source="Orion">Adani Enterprises</keyword> was among the top five gainers on the Nifty50 after the Gautam Adani-led flagship company reported a net profit of ₹820 crore for the December quarter compared with ₹12 crore loss last year. Top movers on the Nifty50 <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.61% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apollo Hospitals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.45% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.14% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.23% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RIL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.44% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Life Insurance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.54% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.88% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BPCL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.16% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports &amp; SEZ </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.86% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grasim Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.15% </td></tr></tbody><tbody><tr id="last-child" class="last-child"><td contenteditable="false" colspan="5">Edit</td></tr></tbody></table> On Monday both foreign institutional investors (FIIs) and domestic institutional investors (DIIs) were net buyers – while FIIs bought equities worth ₹ 1,322 crore, DIIs invested ₹522 crore. US markets edge higher Ahead of the release of the key inflation data on Tuesday, US markets rose sharply. The Dow Jones Industrial Average ended up 1.11% on Monday, while S&amp;P 500 closed 1.14% higher. The tech-heavy Nasdaq closed 1.48% higher. Asian markets were largely positive on Tuesday morning, led by the Taiwan TSEC 50 Index that was up 0.71%. Nikkei 225 was up 0.64%, KOSPI gained 0.53%, Shanghai Composite was up 0.28% while the Hang Seng was down 0.24%. Most sectoral indices ended higher on Tuesday with FMCG, Metal, PSU bank and IT among top gainers. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sectoral indices </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty PSU Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.04% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty FMCG </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.03% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Metal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.02% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty IT </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.99% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Fin Service </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.90% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.89% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Pvt Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.77% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Media </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.16% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Pharma </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.16% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Auto </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.36% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Realty </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.84% </td></tr></tbody><tbody><tr id="last-child" class="last-child"><td contenteditable="false" colspan="3">Edit</td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/india-a-long-term-investment-destination-even-among-g-20-countries/articleshow/97875443.cms">India a long-term investment destination even among G-20 countries</a> <a href="https://www.businessinsider.in/stock-market/news/fpis-offload-equities-worth-28851-crore-in-january-in-financial-services-oil-gas-stocks/articleshow/97862620.cms">FPIs offload equities worth ₹28,851 crore in January – financial services, oil &amp; gas stocks account for 79% of it</a> <a href="https://www.businessinsider.in/stock-market/news/adani-group-stock-prices-fall-on-monday-after-moodys-cuts-outlook/articleshow/97855581.cms">Adani Group stocks battered on Monday after Moody’s cuts outlook for four companies</a>

Sensex closes above 61,000 mark ahead of US inflation data led by gains in RIL, Adani stocks, ITC

<ul><li>Indian markets <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> end slightly higher after a choppy trading session on Tuesday.</li><li>Among sectoral indices, auto, FMCG, energy and metal closed in the red while banks, IT and pharma were amongst the top gainers.</li><li>HDFC Life and SBI Life topped the charts in the benchmark Nifty50 index, while metal stocks and Reliance Industries were amongst the top losers.</li></ul>Indian markets Sensex and Nifty50 end slightly higher after a choppy session on Tuesday as investors turn eyes on upcoming quarterly earnings season amid mixed cues from global markets. Besides, losses in shares of heavyweight stocks like Reliance Industries, ITC and steel companies capped the gains of the two benchmark indices. While the 30-stock Sensex edged up 0.21% or 126 points to close at 61,294, the 50-stock Nifty50 index ended 0.19% or 35.10 higher to close at 18,232 points. In the Nifty50 index, HDFC Life Insurance, SBI Life Insurance, Axis Bank and Titan were top gainers on the index. Among sectoral indices, auto (-0.42%), FMCG (-0.41%), energy (-0.10%) and metal (-0.53%) closed in the red while banks (0.51%), IT (0.78%) and pharma (0.72%) were amongst the top gainers. In the first trading session of the year, the benchmark indices <a href="https://www.businessinsider.in/stock-market/news/tata-motors-maruti-suzuki-eicher-motors-among-stocks-in-focus/articleshow/96672634.cms">closed higher</a> led by a rally in metal stocks and heavyweights like RIL, Infosys, ICICI Bank. Shares of oil companies RIL and ONGC witnessed a sell-off today after the government raised windfall tax on petroleum, crude oil and aviation turbine fuel. Windfall tax on crude oil has been raised to ₹2,100 per tonne from ₹1,700 per tonne earlier effective on Tuesday. Export tax on diesel has been increased to ₹7.5 per litre from ₹5 per litre while tax on aviation turbine fuel has risen to ₹4.5 per litre from ₹1.5 per litre earlier. Meanwhile, Brent crude oil price fell by 1.57% to $84.55 per barrel on Tuesday. Here are the top gainers and losers on the Nifty50 index on Tuesday <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.54% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.70% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Life </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.22% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.01% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.21% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.98% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.07% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.94% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.55% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RIL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.78% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: NSE Global markets While markets in the US were closed on account of holidays, European markets witnessed a rally. France’s CAC index surged 1.17%, while Germany’s DAX gained 1.39%. Asian markets, however, were mixed, with some markets still closed due to holidays. While the Hang Seng index gained 1.82%, Nikkei 225 was flat and the Shanghai Composite index gained 0.88%. The Taiwan Weighted index was up 0.61%, while South Korea’s KOSPI declined 0.31%. Meanwhile, investors are awaiting the minutes from the US Federal Reserve meeting scheduled on Wednesday. On the global front, Russia’s defence ministry has said that 63 Russian soldiers have been killed in a Ukrainian New Year’s Eve attack in the Russian controlled part of Donetsk province. Among individual stocks, The food delivery platform Zomato slipped 5% during the day and ended with over 2% fall as its chief technology officer Gunjan Patidar has tendered resignation. Patidar was among the first few employees of Zomato and built core tech systems for the company, the company said. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/december-auto-sales-fall-below-expectations-even-as-tata-motors-mm-post-strong-growth/articleshow/96686550.cms">December auto sales fall below expectations even as Tata Motors, M&amp;M post strong growth</a> <a href="https://www.businessinsider.in/stock-market/news/from-sah-polymers-to-chaman-metallics-four-ipos-that-will-raise-almost-110-crore-this-week/articleshow/96680142.cms">From Sah Polymers to Chaman Metallics – Four IPOs that plan to raise almost ₹110 crore this week</a> <a href="https://www.businessinsider.in/stock-market/news/stock-picks-for-2023-lt-sbi-axis-bank-among-top-brokerage-picks-for-the-new-year/articleshow/96667625.cms">Stock picks for 2023: L&amp;T, SBI, Axis Bank among top brokerage picks for the new year</a>

Sensex, Nifty50 end slightly higher after another choppy day; HDFC Life, SBI Life top gainers

New Delhi, Comedy-drama series "<keyword id="19554451" type="General" weightage="20" keywordseo="Aam-Aadmi-Family" source="Orion">Aam Aadmi Family</keyword>" will return for its fourth season on ZEE5, the streaming platform said on Monday. Directed by Himali Shah, the new chapter is set to premiere on ZEE5 on November 24. It stars Brijendra Kala (Satendra Sharma/Papa), Lubna Salim (Madhu Sharma/Mummy), Gunjan Malhotra (Sonu), and Chandan Anand (Bobby). "Aam Aadmi Family" will continue to bring to life the everyday adventures and misadventures of the endearing Sharma family, the makers said in a press release. Shah said the fourth season talks about how a family copes up with the loss of a loved one. "It's a familiar situation, but less talked about. It's second innings for Mummy and Papa, while Bobby is trying to find his calling, career wise. Sonu is dealing with long distance marriage. "It's the coming together of the entire family, despite their own problems. A big thank you to Arunabh Kumar, Shreyansh Pandey, Apoorv Singh Karki and ZEE5 for their guidance and partnership," the director said. Manish Kalra, Chief Business Officer, ZEE5 India said the streamer is happy to introduce the next installment of "Aam Aadmi Family". "With its inspiring humour and interesting family dynamics, this series certainly develops a relatable intuition for our viewers," Kalra said. "We are delighted to present season 4 of 'Aam Aadmi Family', a show that takes inspiration from the everyday lives of middle-class Indian families. This show is very special as it finds magic in the ordinary," added Nimisha Pandey, Chief Content Officer - Hindi Originals, ZEE5.

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