Rajiv Jain, Chairman & CIO of GQG Partners, mentioned that they find China confusing because while stock prices have decreased, policy and political issues persist. As a result, they haven't increased their investment in China and remain significantly underweight in the country, with only 4 or 5% exposure.
US-based GQG Partners is in talks to buy a stake in Vedanta. A big block deal worth over Rs 2,600 crore took place in Vedanta. The stake sale could be part of the Anil Agarwal-led mining companys efforts to raise capital to repay debt.
Shares of natural resources major ended more than 4% lower at Rs 267.95 on the NSE. The shares, which had been pledged by its parent entity for funds, were released by its lenders only last week, enabling the sale of these shares.
Indices end near records; Sensex gains 529 pts; RIL up 2.5%, Infy dips 1%
Frontline indices ended the session near record highs on Thursday as investors went on Christmas holiday in a festive mood. Reports that Britain and the European Union have closed in on a free-trade deal, while short covering in banking counters back home lifted the indices.
That apart, hopes for more fiscal spending and expectations that coronavirus vaccines will become more available next year also supported global sentiment.
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The S&P BSE Sensex gained 529 points, or 1.14 per cent, to settle the day at 46,973.5 levels. Sun Pharmaceuticals, Axis Bank, Reliance Industries, HDFC, and Bajaj Finance, up between 2 per cent and 3 per cent, closed the day as top gainers on the Sensex. On the downside, profit-booking in IT and FMCG stocks resulted in Infosys, Nestle, and HCL Tech ending the day as top drags.
Vedanta shares surge over 13% on large trades
Updated : December 24, 2020 12:28 PM IST
19.1 crore shares (5.1 percent equity) worth Rs 3,042 crore changed hands via block deals on the BSE and NSE.
The stock rose as much as 13.3 percent to the day s high of Rs 170.5 per share on the BSE. share
The share price of Vedanta surged over 13 percent on Thursday after 19.1 crore shares (5.1 percent equity) worth Rs 3,042 crore changed hands via block deals on the BSE and NSE.
The stock rose as much as 13.3 percent to the day s high of Rs 170.5 per share on the BSE. Just in two trading sessions, the stock has risen nearly 20 percent.