What a day on D-Street! Both Sensex and Nifty hit all-time highs, with Sensex up by over 1,400 points, scaling Mount 83K and Nifty soaring nearly 500 points. Every Nifty stock and sectoral index ended in the green! On macro-front, India's inflation ticked up to 3.65% in August, with food prices sticking stubbornly high. IIP jumped 4.8% in July. On the corporate side, Kiran Mazumdar-Shaw says BioCon isn’t for sale, but the company’s exploring equity investments to cut down debt. Vijay Shekhar Sharma is focusing on profitability and compliance as Paytm aims to rebound. Plus, they’ll apply for a payment aggregator license soon. The Tamil Nadu government is likely to mediate as the strike at Korean tech major Samsung's Chennai plant enters the fourth day. Workers are pushing for better wages and union recognition.
Market at Close | Sensex tops Mount 83K, Nifty at lifetime high led by blue-chips
Benchmark Sensex reached a historic milestone, crossing the 83,000 mark for the first time. The BSE Sensex surged by 1,593.03 points, or 1.95%, to achieve an intra-day peak of 83,116.19 before closing at a record high of 82,962.71, up by 1,439.55 points, or 1.77%.
Meanwhile, the NSE Nifty also set a new record, climbing 470.45 points, or 1.89%, to finish at an all-time high of 25,388.90. During the day, the Nifty peaked at 25,433.35, a jump of 514.9 points, or 2%.
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Sensex, Nifty 50 hit record highs: These index names contributed to the sharp recovery
Sensex, Nifty hit a record high in Thursday's trading session. HDFC Bank, Reliance Industries and Bharti Airtel have led the recovery.
The market has seen a very sharp recovery from the lows of the day during the Nifty 50's weekly options expiry session. The index, which was stuck in the 24,800 - 25,150 range, suddenly surged past the 25,250 mark within minutes and even crossed the 25,400 mark, eventually ending nearly 500 points higher at 25,388.
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India's August inflation at 3.65%, food inflation at 5.66%
India’s retail inflation slightly increased to 3.65% in August, compared to July's 3.6% and 6.83% in the same month last year, according to the data released by the Ministry of Statistics and Programme Implementation on Thursday, September 12. A CNBC-TV18 poll had estimated August inflation at 3.4%.
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'I’ve built this business to last, not for sale', says Biocon's Kiran Mazumdar-Shaw on sellout rumours
Kiran Mazumdar-Shaw, Executive Chairperson of Biocon, has firmly dismissed rumours that the company is selling out, stressing her commitment to growing Biocon Biologics as an independent entity.
However, the Biocon Chairperson revealed that the company has been exploring equity investment options as part of its strategy to reduce debt levels. This follows Biocon’s strong focus on efficiency, growth in the biosimilars sector, and upcoming expansion plans.
Read More
Paytm founder Vijay Shekhar Sharma commits to profitability, compliance at AGM
Paytm founder Vijay Shekhar Sharma talked up the payment aggregator's profitability push and meeting regulatory compliance at the company's Annual General Meeting on Thursday, September 12.
"I want to re-state that instead of talking about EBITDA before ESOP, I want to talk about PAT (Profit After Tax). We want to commit to PAT profitability," Vijay Shekhar Sharma said at the AGM.
Sharma had earlier told analysts in July that Paytm would hit EBITDA profitability before employee stock option costs, even without the one-time UPI incentive.
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Tamil Nadu labour minister to meet Samsung officials in bid to resolve strike
The Tamil Nadu Government is likely to intervene in the ongoing faceoff between Samsung's plant workers and management at the company's Sriperumbudur unit, sources said.
The Tamil Nadu Labour Department has gone on record to say that it is playing a role in resolving issues between the plant's main labour union and Samsung management.
The development comes even as 1,500 Samsung workers at Sriperumbudur did not turn up for work for a fourth straight day, choosing to stage demonstrations outside the plant, demanding higher pay, shorter shift timings and recognition of their main labour union, the Samsung India Workers Union (SIWU). The protests are being led by SIWU head, E Muthukumar.
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Yet another Israeli airstrike on a UN school killed more than 20 people, including 2 children & 6 UNRWA staff members. Israel claimed it targeted Hamas militants planning an attack from the school. Over 90% of school buildings in the Gaza Strip have been severely or partially damaged in Israeli strikes.
75% disengagement problems with China sorted, militarisation of border a bigger issue, says Jaishankar
Roughly 75% of the "disengagement problems" with China are sorted out but the bigger issue has been the increasing militarisation of the frontier, External Affairs Minister S Jaishankar said on Thursday (September 12) on the lingering border row in eastern Ladakh.
In an interactive session at a think-tank in this Swiss city, Jaishankar said the Galwan Valley clashes of June 2020 affected the "entirety" of India-China ties, asserting that one cannot have violence at the border and then say the rest of the relationship is insulated from it.
The External Affairs Minister said negotiations between the two sides to find a solution to the problem are underway.
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Veteran CPI(M) leader Sitaram Yechury passes away aged 72
Veteran CPI(M) leader and party General Secretary Sitaram Yechury passed away on Thursday at the age of 72 due to complications arising from pneumonia. Yechury was admitted to AIIMS New Delhi on August 19, 2024, with a severe chest infection resembling pneumonia.
The senior leader, known for his impactful political career and deep-rooted commitment to Leftist ideology, had been initially admitted to the emergency ward before being shifted to the Intensive Care Unit (ICU) as his condition worsened.
Read More
Billionaire Isaacman embarks on historic private space walk
Billionaire Jared Isaacman and SpaceX engineer Sarah Gillis made history on Thursday, performing the world’s first commercial space walk. The pair left the Crew Dragon craft in turn, with Isaacman going first. While outside of the Dragon, they conducted a number of motions to test out the mobility of the space suits.
The pair left the Crew Dragon craft in turn, with Isaacman going first. While outside of the Dragon, they conducted a number of motions to test out the mobility of the space suits.
Read More
IT services giant Kyndryl sees India as pivotal to global growth
Kyndryl, the world's largest provider of IT infrastructure services, is positioning India as a critical hub for its global growth strategy. Martin Schroeter, Chairman and CEO of Kyndryl, highlighted India’s pivotal role in the company’s expansion.
He emphasised that while Kyndryl operates domestically and collaborates with both the government and industry within India, the country is increasingly becoming a source of innovation that drives global business.
Schroeter detailed Kyndryl's strategic initiatives, including their artificial intelligence (AI)-centric platform, Kyndryl Bridge, which underpins their service delivery.
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That’s all, folks! Keep up with the latest news, views and ideas to make money only on cnbctv18.com.
Beyond #Newsroom 📰
Follow the CNBC-TV18 channel on WhatsApp
Catch crispy news updates on the go!- CNBCTV18 Minis
Watch all #videos under one segment- CNBCTV18 Binge
We bring you real-time updates and analysis of the stock market- Real-time market updates
We'll see you tomorrow with another engaging ‘Top 10@10’
Market at Close | Sensex tops Mount 83K, Nifty at lifetime high led by blue-chips
Benchmark Sensex reached a historic milestone, crossing the 83,000 mark for the first time. The BSE Sensex surged by 1,593.03 points, or 1.95%, to achieve an intra-day peak of 83,116.19 before closing at a record high of 82,962.71, up by 1,439.55 points, or 1.77%.
Meanwhile, the NSE Nifty also set a new record, climbing 470.45 points, or 1.89%, to finish at an all-time high of 25,388.90. During the day, the Nifty peaked at 25,433.35, a jump of 514.9 points, or 2%.
Read More
Sensex, Nifty 50 hit record highs: These index names contributed to the sharp recovery
Sensex, Nifty hit a record high in Thursday's trading session. HDFC Bank, Reliance Industries and Bharti Airtel have led the recovery.
The market has seen a very sharp recovery from the lows of the day during the Nifty 50's weekly options expiry session. The index, which was stuck in the 24,800 - 25,150 range, suddenly surged past the 25,250 mark within minutes and even crossed the 25,400 mark, eventually ending nearly 500 points higher at 25,388.
Read More
India's August inflation at 3.65%, food inflation at 5.66%
India’s retail inflation slightly increased to 3.65% in August, compared to July's 3.6% and 6.83% in the same month last year, according to the data released by the Ministry of Statistics and Programme Implementation on Thursday, September 12. A CNBC-TV18 poll had estimated August inflation at 3.4%.
Read More
'I’ve built this business to last, not for sale', says Biocon's Kiran Mazumdar-Shaw on sellout rumours
Kiran Mazumdar-Shaw, Executive Chairperson of Biocon, has firmly dismissed rumours that the company is selling out, stressing her commitment to growing Biocon Biologics as an independent entity.
However, the Biocon Chairperson revealed that the company has been exploring equity investment options as part of its strategy to reduce debt levels. This follows Biocon’s strong focus on efficiency, growth in the biosimilars sector, and upcoming expansion plans.
Read More
Paytm founder Vijay Shekhar Sharma commits to profitability, compliance at AGM
Paytm founder Vijay Shekhar Sharma talked up the payment aggregator's profitability push and meeting regulatory compliance at the company's Annual General Meeting on Thursday, September 12.
"I want to re-state that instead of talking about EBITDA before ESOP, I want to talk about PAT (Profit After Tax). We want to commit to PAT profitability," Vijay Shekhar Sharma said at the AGM.
Sharma had earlier told analysts in July that Paytm would hit EBITDA profitability before employee stock option costs, even without the one-time UPI incentive.
Read More
Tamil Nadu labour minister to meet Samsung officials in bid to resolve strike
#TamilNadu government is likely to intervene as workers #strike at a #Samsung Plant near Chennai enters the fourth day. State Labour Minister could meet Samsung executives to find a resolution. @JudeSannith24 reports#SamsungStrike #SamsungWorkers pic.twitter.com/JUXo6ehOnN
— CNBC-TV18 (@CNBCTV18News) September 12, 2024
The Tamil Nadu Government is likely to intervene in the ongoing faceoff between Samsung's plant workers and management at the company's Sriperumbudur unit, sources said.
The Tamil Nadu Labour Department has gone on record to say that it is playing a role in resolving issues between the plant's main labour union and Samsung management.
The development comes even as 1,500 Samsung workers at Sriperumbudur did not turn up for work for a fourth straight day, choosing to stage demonstrations outside the plant, demanding higher pay, shorter shift timings and recognition of their main labour union, the Samsung India Workers Union (SIWU). The protests are being led by SIWU head, E Muthukumar.
Read More
Israeli airstrike hits UN school in Gaza, killing 20+ including children & UN staff
Yet another Israeli airstrike on a UN school killed more than 20 people, including 2 children & 6 UNRWA staff members. Israel claimed it targeted Hamas militants planning an attack from the school. Over 90% of school buildings in the Gaza Strip have been severely or partially damaged in Israeli strikes.
75% disengagement problems with China sorted, militarisation of border a bigger issue, says Jaishankar
Roughly 75% of the "disengagement problems" with China are sorted out but the bigger issue has been the increasing militarisation of the frontier, External Affairs Minister S Jaishankar said on Thursday (September 12) on the lingering border row in eastern Ladakh.
In an interactive session at a think-tank in this Swiss city, Jaishankar said the Galwan Valley clashes of June 2020 affected the "entirety" of India-China ties, asserting that one cannot have violence at the border and then say the rest of the relationship is insulated from it.
The External Affairs Minister said negotiations between the two sides to find a solution to the problem are underway.
Read More
Veteran CPI(M) leader Sitaram Yechury passes away aged 72
Veteran CPI(M) leader and party General Secretary Sitaram Yechury passed away on Thursday at the age of 72 due to complications arising from pneumonia. Yechury was admitted to AIIMS New Delhi on August 19, 2024, with a severe chest infection resembling pneumonia.
The senior leader, known for his impactful political career and deep-rooted commitment to Leftist ideology, had been initially admitted to the emergency ward before being shifted to the Intensive Care Unit (ICU) as his condition worsened.
Read More
Billionaire Isaacman embarks on historic private space walk
Billionaire Jared Isaacman and SpaceX engineer Sarah Gillis made history on Thursday, performing the world’s first commercial space walk. The pair left the Crew Dragon craft in turn, with Isaacman going first. While outside of the Dragon, they conducted a number of motions to test out the mobility of the space suits.
The pair left the Crew Dragon craft in turn, with Isaacman going first. While outside of the Dragon, they conducted a number of motions to test out the mobility of the space suits.
Read More
IT services giant Kyndryl sees India as pivotal to global growth
Kyndryl, the world's largest provider of IT infrastructure services, is positioning India as a critical hub for its global growth strategy. Martin Schroeter, Chairman and CEO of Kyndryl, highlighted India’s pivotal role in the company’s expansion.
He emphasised that while Kyndryl operates domestically and collaborates with both the government and industry within India, the country is increasingly becoming a source of innovation that drives global business.
Schroeter detailed Kyndryl's strategic initiatives, including their artificial intelligence (AI)-centric platform, Kyndryl Bridge, which underpins their service delivery.
Read More
That’s all, folks! Keep up with the latest news, views and ideas to make money only on cnbctv18.com.
Beyond #Newsroom 📰
Follow the CNBC-TV18 channel on WhatsApp
Catch crispy news updates on the go!- CNBCTV18 Minis
Watch all #videos under one segment- CNBCTV18 Binge
We bring you real-time updates and analysis of the stock market- Real-time market updates
We'll see you tomorrow with another engaging ‘Top 10@10’
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
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