Business
Rally in equities continues; Sensex, Nifty settle 1% high

Amid rising Covid cases in the country, Indian equity markets continued with their uptrend and settled sharply higher on Tuesday.
Accordingly, Sensex and Nifty settled at 59,855 points and 17,805 points, up 1.1 and 1.0 from their previous close, respectively.
On Tuesday, banking, financial services, and oil and gas stocks rose the most.
“Despite surging Covid cases, investor sentiments remain positive globally as reports suggest lower impact of the new variant on economic recovery,” said Vinod Nair of Geojit Financial Services.
Among the stocks, NTPC, Pidilite Industries, Hindustan Zinc, ONGC, and Power Grid Corp rallied the most, rising 5.5 per cent, 5.1 per cent, 3.4 per cent, 3.3 per cent, 2.7 per cent, respectively, data showed.
Cadila Healthcare, Marico, Tata Motors, Abott India, and Coal India were some of the stocks that declined during the session.
According to Rohit Singre, Senior Technical Analyst at LKP Securities: “Strong move has been witnessed in Nifty as it managed to close a day at 17,805 with gains of more than 1 per cent and formed a bullish candle for the third consecutive session. We may see some more extension in current pullback towards 18,000-mark, while on the higher side the immediate hurdle is coming near 17,900-18,000-mark.”
Besides, shares of companies dealing in sugar also saw a sharp jump on Tuesday as brokerages turned bullish on the sector.
International
Tom Cruise ‘would love to meet someone special’ after three failed marriages

Hollywood star Tom Cruise has been married to Hollywood stars Mimi Rogers, Nicole Kidman and Katie Holmes, with the actor most recently being romantically linked to Shakira.
The unlikely pair met at the Formula 1 Grand Prix and while it seems Tom was “very interested in pursuing” the singer, she wasn’t so keen, reports
A source has revealed Tom’s friends have now given him some dating advice as he searches for “the one.”
The comments come after it was revealed Shakira “begged” Tom to “stop flirting with her” as the situation became “too much” for her following her painful split with Gerard Pique.
The 46-year-old singer and Barcelona defender, 36, announced their shock breakup in June last year after 12 years together.
Gerard has since moved on with Clara Chia Marti, 24.
“She doesn’t want to embarrass or upset him, but there’s no attraction or romance on her part – she was just being friendly. She’s flattered but not interested,” an insider told Heat Magazine.
The insider added that Tom has been searching for the right woman for years and said he has “the highest standards” and won’t settle for “second best” in a potential lover.
Business
Tata Group signs ₹13,000-crore deal for EV battery plant with Gujarat govt

On Friday, the Tata group signed an outline agreement with the Gujarat government to establish a lithium-ion cell factory, investing approximately Rs 13,000 crore ($1.6 billion). This move aligns with India’s aim to develop its own electric vehicle (EV) supply chain.
The memorandum of understanding (MoU) was signed by Vijay Nehra, Secretary of Science and Technology, Government of Gujarat, and Rakesh Ranjan, CEO of Agratas Energy. The establishment of the plant aims to reduce Gujarat’s dependence on China and Korea, which are currently the major suppliers of battery cells to India.
The establishment of the factory aligns with the state’s ambitious targets of achieving 50% carbon emission-free energy and 100% electric vehicle (EV) adoption by 2030.
In April, Jaguar Land Rover (JLR), a subsidiary of Tata Motors, unveiled its electrification plan. JLR disclosed it would invest £15 billion (approximately $19 billion) over the next five years, with a focus on transforming itself into an electric-first and modern carmaker. As part of this strategy, JLR’s Wolverhampton plant in the UK, known for known for producing Ignenium internal combustion engines for their vehicles, will produce electric drive units and battery packs for their next-generation of vehicles.
Business
Bids worth ₹6,500 crore pour in for government’s stake sale in Coal India

The Indian government’s divestment bid hadn’t received the expected response in the past few years, as it has kept bringing down its target and still missed the Rs 65,000 crore target by more than 50 per cent last year. It called off the privatisaiton of firms such as Bharat Petroleum after failing to get bids, and Air India was also rescued by Tata when no one else stepped up to buy it. But the Indian government’s latest offer for sale of a stake in Coal India, has received an overwhelming response, with bids worth Rs 6,500 crore from institutional buyers.
Against its OFS for 8.31 crore shares of the state-owned coal producer, the government received bids for 28.76 units, which is 3.46 times the number of stocks on offer.
Positive signs at the beginning of the year
The shares were offered at a 7 per cent discount, as part of the first stake sale by the government in FY24.
With a target of raising Rs 51,000 crore via divestment this year, the government put up a 3 per cent stake in the PSU for sale.
Half of it was part of the OFS, and the other 1.5 per cent stake was set aside in case of oversubscription.
This was part of a 66 per cent stake which the Indian government holds in Coal India.
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