Nifty vaults past 10,000, Indigo skyrockets after Q4 & More | Top headlines
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Top headlines of the day: 1. Nifty vaults past 10,000 Sensex jumps over 500 points, Nifty hits 10000; first time since March 13. India announced phased loosening of lockdown restrictions over the last few days. Among Nifty stocks, Britannia Industries rose 6% to be the top gainer after the company reported a 26% year-on-year jump in its fourth-quarter net profit to Rs 375 crores on Tuesday post-market hours. Bajaj Finserv, Bajaj Finance, Tata Motors, HDFC Bank, IndusInd Bank, Hindalco, Tech Mahindra were among the other prominent gainers in the Nifty rising between 2.49%-4.90%. Meanwhile, HUL and Wipro, HCL Tech, Bharti Airtel were the losers in the Nifty. 2. Cyclone Nisarga approaches Mumbai Cyclone Nisarge grips western coast, Strong winds and High tide in Mumbai. Severe cyclonic storm Nisarga has made landfall on Maharashtra coast. The process will last for three hours and the cyclone will reach Mumbai and further hit Surat in a short time from now. About 43 National Disaster Response Force (NDRF) teams have been deployed in two states of Gujarat and Maharashtra. 21 teams are in Maharashtra. Nearly one lakh people have been evacuated from the cyclone spot. Mumbai Fire Brigade has been directed to stay alert. 3. PSU banks' privatisation on cards? NITI Aayog Yojana has proposed to plan and privatize select Public Sector Undertaking banks. High-level meetings have been arranged to discuss the underway to privatize public sector banks. The Finance Minister Nirmala Sitharaman had announced the Centre’s intent to open up all segments of the industry, including strategic sectors, to private capital. The finance minister had also mentioned there would be a maximum of four public sector companies in strategic sectors. Punjab and Sind Bank, Bank of Maharashtra, IOB, etc. are some names that could be privatized. It will, however, require a lot of background for the authorities to make something like this happen. 4. Indigo skyrockets after Q4 IndiGo Q4 results: The airline posted a loss of Rs 873 crore for the quarter compared to a net profit of Rs 590 crore in the corresponding quarter last year. India’s biggest carrier IndiGo plunged to a loss for the Jan-Mar quarter from a profit a year earlier on a weak operating performance. During a post-earnings conference call with analysts, CEO Ronojoy Dutta said the airline made an operating profit in the month of January and February but a loss of Rs 380 crore for the month of March. Flights resumed from May 25 and airlines have on average been able to fill barely half their flights. Watch the video for more details! Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3 Subscribe Now To Our Network Channels :- Times Now : http://goo.gl/U9ibPb The NewsHour Debate : http://goo.gl/LfNgFF To Stay Updated Download the Times Now App :- Android Google Play : https://goo.gl/zJhWjC Apple App Store : https://goo.gl/d7QBQZ Social Media Links :- Twitter - http://goo.gl/hA0vDt Facebook - http://goo.gl/5Lr4mC G+ - http://goo.gl/hYxrmj Website - www.etnownews.com
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