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The Dow Jones ‌Industrial ‍Average rose ‍42.7 points, or 0.09%, at the ‌open to 48,105.98. The S&P 500 rose 32.6 points, or 0.48%, at ‍the open to 6,878.11​, while ‍the ⁠Nasdaq Composite ⁠rose 239.5 points, or 1.03%, to 23,481.493 at the opening bell.
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Ahmedabad, Adani Enterprises Limited (AEL), the flagship company of the Adani Group, on Friday announced the launch of its third public issuance of secured, rated, listed, redeemable, non-convertible debentures (NCDs) of Rs 1,000 crore, offering up to 8.90 per cent per annum.
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Avenue Supermarts, operator of DMart, posted a 13% YoY increase in standalone Q3 revenue to Rs 17,613 crore, while its store count rose to 442. The provisional update reflects steady growth momentum for the retail chain, supported by continued expansion and consistent improvement in revenue across its operations.
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PNB reported a steady Q3 update with global business rising 9.6% YoY to Rs 28.92 lakh crore and advances growing 11%. Deposits saw healthy expansion, while domestic business improved 9% YoY. The bank’s shares gained over 1% as it continued to trade above key moving averages, reflecting strong investor interest.
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Five Sensex heavyweights, Maruti Suzuki, SBI, Reliance Industries, L&T, and M&M, hit fresh 52-week highs on Friday amid a strong market rally.
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Marico delivered a steady Q3 performance with revenue growth in the high twenties and improving India volumes. Lower copra costs aided margins, while Parachute remained resilient and value-added hair oils grew strongly. International markets posted double-digit growth. Marico expects sustained volume-led expansion and sequential margin improvement in the coming quarters.
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LIC has incurred losses of over Rs 10,400 crore in just two days as ITC shares plunged 14% following a steep excise duty hike on cigarettes. The tax increase triggered heavy selling and multiple broker downgrades, with analysts warning that significant price hikes may be required to offset the higher duty burden.
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Indian government bonds slipped on ‍Friday after a weak ​auction revived supply concerns, with traders wary ahead of the ⁠states’ January-March borrowing calendar due later in the day.
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Siddhartha Bhaiya, the celebrated contrarian investor behind the India Opportunities Fund, built a 33% CAGR track record by spotting smallcap and midcap multibaggers early. His bold calls—from raising 80% cash to shifting heavily into gold ETFs—turned Rs 10 lakh into Rs 4 crore in 13 years, cementing his legacy.
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