Sun, Oct 6, 2024 1:18 PM
IT and banking will hold the Nifty steady; broader markets will see profits
A Flip by Avya Verma
New Delhi, Oct 6 (PTI) Equipped with ₹17,600 crore fundraising and a zero-debt status, Anil Ambani’s Reliance Group companies - Reliance Infrastructure Ltd and Reliance Power Ltd - are poised to execute their growth strategies, according to officials. In the past two weeks, both companies have announced raising ₹4,500 crore through preferential issues of equity shares.
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Taiwan’s Foxconn, the world’s largest contract electronics maker, beat expectations to post its highest-ever revenue for the third quarter on strong demand for artificial intelligence (AI) servers. Revenue for Apple’s biggest iPhone assembler jumped 20.2% year on year to T$1.85 trillion ($57.3 billion). ”The result exceeded the company’s original expectations of significant growth/”
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Hindalco Industries and JSW Steel are competing to acquire two copper mines in Jharkhand, with a combined capacity of three million tonne per annum, which are set to be auctioned off this month. Hindustan Copper Ltd is selling the mines as part of its expansion plans to increase domestic copper production and reduce imports.
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