Asian equities rose to follow the positive lead from Wall Street where a rally in the world’s largest technology companies drove stocks to fresh all-time highs.Equity benchmarks opened higher in both Japan and South Korea, with Australian shares also recording gains.The US stock market opened mixed on Monday, with two main indices gaining.Here’s a table showing how US stocks performed on Monday:
Source: EquitymasterAt present, the BSE Sensex is trading 109 points higher and NSE Nifty is trading 34 points higher.SBI, Adani Ports, and HDFC Bank are among the top gainers today.ITC, Trent and M&M other hand are among the top losers today.The BSE Midcap index is trading 0.7% higher and the BSE Smallcap index is trading 1% higher.Sectoral indices are trading mixed today with stocks in the metal sector and realty sector witnessing most buying.Meanwhile, stocks in the FMCG sector and consumer durables sector witnessing selling pressure.The rupee is trading at Rs 84.73 against the US dollar.In commodity markets, gold prices are trading 0.2% higher at Rs 76,811 per 10 grams today.
Torrent Power Opens QIPTorrent Power on Monday announced the opening of its Qualified Institutional Placement (QIP), with the floor price set at Rs 1,555.8 per equity share.The floor price represents a discount of 1.6% discount to the stock’s closing price of Rs 1,581.1 on Monday.Last month, a media report had reported that Torrent Power, the energy arm of the Gujarat-based Torrent group, was planning to raise as much as Rs 30-40 bn through a qualified institutional placement (QIP) of shares.The proposed QIP is aimed primarily at building a cash stockpile for acquisitions, as well as for organic growth initiatives such as capital expenditure for new projects, working capital requirements, debt repayment, etc.Earlier this year, Torrent Power’s shareholders had approved a fundraising of up to Rs 50 bn. The company may raise the full amount of Rs 50 bn if there is strong investor demand, it reported.
KPI Green’s Shares to be in FocusKPI Green Energy’s share price will remain in focus on 3 December after the company received the largest-ever order worth Rs 13.1 bn from Coal India.The company is going to set up a 300 MWAC (405 MWDC) Ground mounted Solar PV plant including Operation & Maintenance (O&M) services on a comprehensive basis for a period of five years on an engineering, procurement, and construction basis at GIPCL’s Solar Park, Khavda, Gujarat.On 30 November, the company emerged as the successful bidder for the above-mentioned project.The company had posted a 101% jump in its Q2 net profit at Rs 698.3 m YoY.
VI Launches AI-Based Spam Detection
Vodafone Idea (Vi) on Monday became the latest telecom operator to announce the launch of a spam management solution. Similar to Bharti Airtel and BSNL, Vi’s spam filter will be powered by Artificial Intelligence (AI) and Machine Learning (ML) and has already identified 24 million spam texts.The filter will proactively detect and flag potential spam messages to users through an automated process. Messages identified as spam will be tagged as ‘Suspected Spam’ to warn users instantly.The system continuously analyses incoming SMS messages using AI algorithms trained on millions of examples, identifying potential threats, including fraudulent links, unauthorised promotions, and identity theft attempts.Through ML, it will continually improve by adapting to new spam trends and evolving to address new types of spam as they emerge.Vi is continuously working to develop solutions to curb spam, including voice calls, to ensure its users are further protected from unsolicited calls.These measures are in addition to various existing solutions and practices, including simplifying the mobile app URL for filing spam complaints by enabling automatic pickup of spam content (SMS), sender number, and date, as well as whitelisting URLs in brand messages.
Tata Group Targets Aggressive GrowthTata Sons Chairman N Chandrasekaran has reportedly asked the CEOs of Tata Group companies to prioritise aggressive growth despite increasing uncertainties in domestic and global markets.During strategy discussions and business reviews, Chandrasekaran emphasised ambitious goals, asserting that growth opportunities must be seized promptly, even if margins are adjusted later.
Nazara Tech’s Investment PlanNazara Technologies has revealed plans to invest a total of Rs 1.9 bn in five different ventures to boost its growth in gaming and entertainment.Of this amount, Rs 1.5 bn will be directed towards strengthening its existing businesses, such as Sportskeeda, Nodwin Gaming, and Datawrkz.More By This Author:Sensex Today Ends 445 Points Higher; Nifty Above 24,250
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