Sensex was down 456.42 points or 0.78% at 58330.25, and the Nifty was down 130.10 points or 0.74% at 17381.20. About 1821 shares have advanced, 1398 shares declined, and 137 shares are unchanged.
Sensex Slips 400 Points Today
Sensex Updates: TVS Motor Company on Monday said it has made fresh investment in the electric bike maker Ultraviolette Automotive. Zoho Corporation has joined along with TVS Motor in the latest round of Series C funding, to support Ultraviolette’s vision of developing high-performance mobility solutions for India and global markets, the two-wheeler maker said in a regulatory filing.
Industry attrition has recorded double-digit figures and this has been sending jobs to foreign shores, said Sanjay Jalona, MD & CEO, L&T Infotech. Jalona said, “We ourselves are seeing attrition balancing out. I mean attrition is plateauing and I think it has peaked.”
Online grocery delivery platform Grofers on Monday said it is rebranding itself as ‘Blinkit’ to reflect its pivot to quick commerce. The Zomato and SoftBank-backed company had started its quick commerce service with a 10-minute delivery promise a few months ago.
“A few months ago, we started on a journey to build the future of commerce with 10 minute delivery of most of the stuff our customers need in their daily lives… We learnt a lot as Grofers, and all our learnings, our team, and our infrastructure is being repurposed to pivot to something with staggering product-market fit quick commerce,” Blinkit said in a blogpost.
In a bid to “unlock value” for shareholders, Bajaj Electricals intends to create separate entities for its consumer and power businesses. The demerger is likely in nine months, Bajaj Electricals executive director Anuj Poddar said on Monday. Poddar said, “We will have an entity focused on the consumer business, and a separate entity focused on the power infrastructure business. The rationale for that is very clear and very compelling.”
Indian gold futures rose on Monday amid weakness in equities that boosted the safe-haven appeal of precious metals, though gains in the dollar overseas capped the upside. At 1:20 pm, MCX gold futures were up 0.1 percent at Rs 48,198 per 10 grams, having risen to as high as Rs 48,243 per 10 grams earlier in the day. MCX silver futures were up 0.3 percent at Rs 61,327 per kilogram, after rising to as high as Rs 61,412 per kilogram.
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