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#714 Daily Money Show | Money Purse Stock Market News
Original: # 714 Daily Money Show | Money Purse Stock Market News
Takeaway
Polycab tax raid weighed on stock; Allcargo restructuring splits domestic/international ops; Adani Green looks at $1bn family investment.
Summary
- Sensex +241 to 71,106; Nifty +94 to 21,349; Bank Nifty -0.73%.
- Polycab stock crashed nearly 5% on news of Income Tax searches at 50 locations of top management.
- Allcargo Logistics announced restructuring: demerging international business into separate listing; merging Gati into domestic business.
- Adani Green Energy board meeting Dec 26 to discuss fund raise — Adani family may invest $1bn to fund bond refinancing and business expansion.
- DRI investigating wind energy companies (ReNew subsidiary Ostro Beswada, Siemens Gamesa) for misdeclaring imported Chinese wind turbine parts to avoid duty; Tata Motors targeting 100k EV sales this FY (from 50,443).
polycaballcargoadani-green
Original description
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