The combined market capitalisation of companies listed on the BSE surged past $5 trillion on Tue. As many as 21 companies saw their market capitalisation surge by at least $10 bn over the last 6 months. While Reliance Industries added as much as $38 bn but others like SBI, Bharti Airtel, LIC, and HAL also contributed anywhere between $19 bn to $28 billion to the overall market cap surge.
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Apollo Tyres is likely to launch a ₹1,000 cr block deal with an option to increase, according to CNBC-TV18 sources. The floor price for this block is expected to be in the range of ₹460-465 per share. Private equity major Warburg Pincus, via its subsidiaries, holds a substantial stake exceeding 13% in Apollo Tyres. Shares settled 2% lower in trade on Tuesday, closing at ₹482.60 apiece on the NSE.
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Altria (NYSE: MO) is commonly regarded as a defensive stock. That is, when you want to play defense against a potential bear market, this is the type of stock you want to own. No one knows exactly where markets will head from here. But if you want to protect your nest egg, keep reading. Make sure you own Altria stock if this 1 thing happens. If a bear market hits, you'll want to own Altria stock.
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