Stock market today: Sensex closed 474 points, or 0.71 per cent, higher at 67,571.90 while the Nifty closed the day at 19,979.15, up 146 points, or 0.74 per cent.
"We recommend investors to buy RIL before the record date i.e. 20th Jul23 and believe it to be a more economical way to buy Jio Financial Services which is likely to list at Rs 160/share (1x RILs treasury stock value)," said Eesha Shah of Axis Securities.
As the banking sector enters the highly anticipated results season, market experts analyze the derivatives outlook. With open interest at relatively lower levels and a lighter position in Bank Nifty, experts foresee potential upside and lower downside risks. The sector s performance amid ongoing sectoral rotation remains a key factor to watch.
Following a 7% stake sale, the promoter stake has been reduced from 80.82% in Patanjali to 73.82%. Accordingly, the company has now become compliant with minimum public shareholding requirements of 75%.