Indian stock market shows strong performance as benchmark indices BSE Sensex and NSE Nifty gain over 0.75% on Thursday. Private lender HDFC Bank sells off housing loan portfolio worth $717 million while RITES consortium emerges as lowest bidder for $11.9 million project. Piramal Capital & Housing Finance, subsidiary of Piramal Enterprises, sells immovable property worth Rs 187 crore in Mumbai. Other major corporate actions such as ex-bonus and ex-dividend trading for Pulsar International and Sanghvi Movers, respectively, and strategic collaboration between Infosys and Sally Beauty Holdings Inc. to provide IT efficiencies through hyper-automation also to be watched out for on Friday.
Indian Stock Market Surges: Sensex and Nifty Gain over 0.75%
The Indian stock market witnessed a robust performance on Thursday, with benchmark indices BSE Sensex and NSE Nifty rising by over 0.75%. This surge comes amidst a positive global market sentiment.
Major Corporate Actions
Background
The Indian stock market has been witnessing a positive trend in recent months due to several factors, including:
FAQs
1. What factors contributed to the recent stock market surge?
2. What is the significance of the HDFC Bank loan portfolio sale?
3. How will the RITES consortium bid impact the company's growth?
4. What are the benefits of the Infosys and Sally Beauty Holdings collaboration?
5. How can investors participate in the ex-bonus and ex-dividend trading for Pulsar International and Sanghvi Movers?
As the modern work culture takes a toll on employees' mental and emotional health, Gen Z professionals are leading the charge for a new approach to work-life balance. Dubbed "micro-retiring," this trend involves taking short, independent breaks to rest, recharge, and refocus, rather than resigning or taking a sabbatical mid-career. While this trend empowers individuals to prioritize their well-being, experts highlight the importance of careful planning to ensure financial stability and avoid burnout. With mental health now in the spotlight, micro-retiring is becoming a legitimate and popular choice for young professionals seeking a more fulfilling and balanced life.
The Indian stock market started the day on a negative note, with the Sensex and Nifty both opening in the red. This was due to weak global cues, with the BSE Sensex shedding 160.86 points and the Nifty falling 75.9 points in early trading. However, some stocks showed positive performance, with Eternal leading the pack. Meanwhile, Nifty 50's early indicator Gift Nifty indicated a positive start for the day. The previous day, Foreign Institutional Investors were net sellers while Domestic Institutional Investors bought equities.
The Telangana Southern Power Distribution Company Limited (TGSPDCL) has introduced "Currentolla Praja Baata" in Nalgonda, Medak, Mahabubnagar, Ranga Reddy, and Hyderabad, aimed at enhancing power distribution in the region. Led by CMD Musharraf Faruqui, the initiative will involve over 9,500 employees who will personally visit different areas to interact with consumers and address complaints. This program hopes to minimize power losses, strengthen the network, and improve the quality and reliability of power supply in Telangana.
A new Randstad India report reveals insights about India's youngest workforce cohort and their expectations for their careers. Gen Z prioritizes financial security, flexibility, and a sense of purpose in their job, requiring employers to go beyond just providing a decent salary. With a preference for a combination of a full-time job and a side hustle, Gen Z's mobility is driven by the pursuit of growth, making it crucial for employers to invest in continuous learning and foster inclusive cultures to retain this transformative generation.
According to Randstad India's latest report, young professionals in India are redefining workplace norms by prioritizing factors like pay, flexibility, and personal values. The report also reveals that Gen Z values continuous learning through AI tools and is more concerned about the impact of AI on job security. This calls for businesses to adapt to changing preferences and attract the next generation of talent by offering a mix of technical excellence and personal autonomy. The findings also emphasize the need for inclusive cultures and flexible policies in order to build resilient, future-ready businesses.
With the Gen-Z workforce making up about 27% of India's population, companies are struggling to retain this energetic cohort. A recent report by Randstad highlights the need for a change in mindset from employers towards the Gen-Zs. While they have long-term aspirations, they are also quick to move on to new opportunities if they feel undervalued or underpaid. This poses a challenge for employers who must find ways to keep this ambitious and driven generation engaged and progressing within their organizations.
Union Home Minister and Minister of Cooperation, Amit Shah, congratulated Amul and Indian Farmers Fertiliser Cooperative Limited (IFFCO) for securing the first and second ranks in the global ranking for cooperatives. This achievement is a testament to the boundless potential of cooperatives, which are being transformed into a global model of empowerment and self-reliance by Prime Minister Narendra Modi. The dairy sector, which is the backbone of rural livelihoods in India, has combined farmer-led cooperatives, women's participation and scientific practices to achieve remarkable progress. Additionally, the National Co-operative Exports Limited, set up by the government, has achieved a significant milestone in exporting agricultural commodities.
After purchasing his retirement property in Swansea, David Barlow has been forced to live in a motorhome on his driveway due to persistent damp and mould issues. Despite complaints to his property managers, the issue has not been resolved and Barlow fears for his belongings. The problem is believed to have been caused by faulty insulation installed by British Gas, but the company denies responsibility. This situation has put a hold on Barlow's retirement plans and has left him feeling frustrated and stuck.
US-based private equity firm Tillman Global Holdings (TGH) is reportedly in advanced discussions to invest up to $6 billion in Vodafone Idea Ltd, which could lead to a change in operational control. However, the investment is contingent on the Indian government providing comprehensive relief covering AGR and spectrum payment dues. If the deal goes through, it could dilute existing promoter holdings, including those held by Aditya Birla Group and Vodafone Plc. While the news has boosted investor sentiment, analysts caution that government approval and debt restructuring clarity are key to the execution of the deal.
The Indian real estate market is undergoing a major shift with rising home prices, as apartments priced between Rs 2 crore and Rs 5 crore now dominate sales. This change has been highlighted by a Redditor who expressed concerns over the dwindling chances of middle-class buyers to afford a house. According to a Moneycontrol report, the trend is a result of big developers focusing more on luxury projects, leaving affordable housing in the backseat. As a result, home ownership for the middle-class seems like a distant dream, with even government employees struggling to afford these expensive properties.