Indian stock markets will be closed on February 26, 2025, for Maha Shivratri. After a strong performance by Bharti Airtel, M&M, and HDFC Bank, trading will resume on February 27, 2025. The closure is part of the NSE and BSE holiday calendar, with 14 market holidays scheduled for the year.
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Bajaj group will take over Allianz's 26% stakes in their insurance ventures for Rs 24,180 crore, making both insurers entirely Indian-owned. Bajaj Finserv’s stake will rise to over 75% in both firms. This acquisition ends a 24-year partnership with Allianz, allowing both to pursue independent insurance strategies in India, enhancing shareholder value.
Investment platform Groww is set to raise about $250 million in a pre-IPO funding led by Singapore's GIC, boosting its valuation to $6.8 billion. The Bengaluru-based company aims to go public by December, targeting a valuation between $6 billion and $8 billion. Groww has rapidly expanded its financial services and increased its revenue significantly.
The Union Cabinet has greenlit an Rs 11,440 crore revival package for Rashtriya Ispat Nigam (RINL), addressing its debt issues. The package includes equity infusion and loan conversion to preference shares. This move aims to stabilize production, protect jobs, and ensure operational efficiency at the Visakhapatnam Steel Plant.
Sensex closed 1,235 points lower at 75,838 due to market volatility. Investors were concerned about US President Trump's trade policies and a potential Bank of Japan rate hike. Foreign funds sold stocks worth Rs 5,920 crore, and BSE's market capitalization fell by Rs 7.3 lakh crore. Markets are expected to remain under pressure.
A parliamentary committee will review the new Income Tax bill introduced by Finance Minister Nirmala Sitharaman. This bill aims to simplify the existing tax code by reducing the number of sections and word count significantly, and removing obsolete provisions, while establishing clear administrative frameworks and roles.
In 2024, the internet and e-commerce sector led in pay across all levels, with top executives earning an average of Rs 37 lakh. Professional services, business consulting, and media closely followed. Healthcare topped senior and middle-level pay due to digital integration and job growth. Bengaluru emerged as the top talent hotspot, while Mumbai excelled in senior-level salaries. Tier-2 cities Bhopal, Mysore, and Kanpur showed impressive growth in junior-level roles.
Shares of Coffee Day Enterprises surged 20% after the National Company Law Appellate Tribunal (NCLAT) set aside insolvency proceedings against the company. The stock reached its 52-week high on both BSE and NSE. The decision overturns an earlier order by the Bengaluru bench of NCLT.
RailTel Corporation's shares jumped 9.6% after securing a Rs 25.15 crore contract from HPCL for MPLS/Internet services over five years. Despite recent gains, RailTel stocks have seen a YTD decline of 16.80%. Currently trading at Rs 328 with a 6.10% increase, the stock shows neutral momentum with an RSI of 52.
Byju Raveendran, CEO of Byju’s, asserts that new evidence submitted in court reveals EY India’s significant role in collusion involving GLAS Trust during the company's insolvency proceedings. Raveendran insists the evidence will expose this 'massive fraud,' with a hearing scheduled at the National Company Law Appellate Tribunal on Tuesday.
Venugopal (Venu) Lambu has been appointed as the new CEO of LTIMindtree for a five-year term. Lambu, a three-decade IT veteran, takes over from Debashis Chatterjee, who led the company to a $4.3-billion IT enterprise. Lambu previously served as the CEO of Randstad Digital.