Sensex falls 250 pts to 81,450; FMCG drags 2%; Godrej Consumer falls 10%
Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading lower on Monday. At 10 AM, the BSE Sensex was 170 points, or 0.21 per cent lower, at 81,538, while the Nifty 50 was at 24,623, down 53.90 points, or 0.22 per cent. After opening bell, more than half the stocks on the BSE Sensex were trading with cuts. Gains were led by Larsen & Toubro (up 1.25 per cent), followed by NTPC, JSW Steel, Bajaj Finance, and HDFC Bank. On the flip side, losses were capped by Hindustan Unilever (down 3.23 per cent), followed by UltraTech Cement, Mahindra & Mahindra, Infosys, and Nestle India. On the Nifty 50, 26 stocks out of the 50 in the frontline index were trading higher. Gains were led by Larsen & Toubro (up 1.52 per cent), followed by SBI Life, Bajaj Finance, Tech Mahindra, and BEL, while losses were capped by Hindustan Unilever (down 3.52 per cent), followed by Tata Consumer Products, Britannia, Nestle India, and UltraTech Cement.
Flipkart plans IPO within 12-15 months, prepares to shift base to India
India’s largest e-commerce platform Flipkart, valued at $36 billion, is gearing up for an initial public offering (IPO) within the next 12 to 15 months, according to a report by The Economic Times. This development could result in one of the most significant listings by a new-age company in India, showcasing the nation’s rise as one of the world’s largest startup ecosystems. The Walmart-owned company has secured internal approvals to shift its domicile from Singapore to India, an essential step toward the IPO. The public offering is expected to take place by the end of 2025 or early 2026, the report said. Flipkart’s move follows the successful public listings of companies like Zomato, Nykaa, and Swiggy, which have fuelled investor enthusiasm for consumer internet firms.
40 Delhi schools receive bomb threats via email; no suspicious items found
At least 40 schools in Delhi received bomb threats via email on Monday morning, according to The Indian Express. The schools include DPS RK Puram, GD Goenka Paschim Vihar, Mother Mary’s Mayur Vihar, The British School Chanakyapuri, Salwan Public School Mayur Vihar, Modern School Mandi House, Cambridge School, DPS Vasant Kunj, and several DAVs. Delhi Police, Bomb Disposal Squads, and fire department officials promptly responded, reaching DPS RK Puram and GD Goenka Paschim Vihar. The first alert came at 6.15 am for GD Goenka, followed by another at 7 am for DPS. No suspicious items have been found in the school premises so far.