Sensex up 300 pts, at 81,400, Nifty 100 pts up at 24,900; Health leads
Indian benchmark equity indices, after opening on a muted note, were trading higher on Tuesday. At 11 AM, the BSE Sensex was up 295.85 points, or 0.37 per cent, at 81,345.85, and the Nifty 50 was at 24,895, up 99.75 points, or 0.4 per cent. At market open, more than half the stocks on the BSE Sensex were trading in the red. Loses were led by Tata Steel (down 3.35 per cent), followed by Tata Motors, Power Grid Corp., JSW Steel, and HCLTech, while the top gainers were Mahindra & Mahindra (up 1.57 per cent), followed by Hindustan Unilever, SBI, UltraTech Cement, and Axis Bank. On the Nifty 50, 29 of the 50 stocks were trading in the red. Mahindra & Mahindra (up 1.33 per cent), followed by Hindustan Unilever, Axis Bank, SBI, and Larsen & Toubro, were the top gainers, while loses were capped by Tata Steel (down 3.57 per cent), followed by Tata Motors, Hindalco Industries, JSW Steel, and BPCL.
Haryana election: Savitri Jindal, India's richest woman, leads from Hisar
JJP leader Dushyant Chautala is trailing from the Uchana Kalan assembly seat in Haryana, based on the trends reported by the Election Commission of India. The vote counting process for the Haryana assembly elections, which took place on October 5, commenced at 8 am on Tuesday. As of approximately 10:30 am, the trends indicated that Chautala was positioned fifth among the candidates for this seat. Initial trends from the counting process are expected by midday, offering early insights into the election outcomes. However, a clearer picture is likely to emerge by late afternoon, with final results for each constituency expected shortly after the vote count is completed. The declaration of results will be crucial in determining the political dynamics of Haryana for the upcoming term.
Airtel in talks to buy Tata Play as digital TV industry sees shake-up
Sunil Mittal-led Bharti Airtel is in advanced negotiations to acquire Tata Group’s loss-making Tata Play, the country’s largest direct-to-home (DTH) service provider, reported The Economic Times citing sources familiar with the matter. The move is seen as a strategic effort by Airtel to bolster its presence in the digital TV space, which faces slow growth, while strengthening its bundled services to increase non-mobile revenues. The potential sale would signal the Tata Group’s exit from its content and entertainment ventures, following its earlier divestment of the consumer mobility business to Bharti Airtel in 2017. That acquisition was Tata Sons Chairman N Chandrasekaran’s first major divestment since taking over the reins of the group.