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#727 Daily Money Show | Money Purse Stock Market News
Original: # 727 Daily Money Show | Money Purse Stock Market News
Takeaway
Polycab cratered 20% on Rs 1,000 crore unaccounted cash sales finding; EV bus push and JSW Cement IPO buzz drove specific stock moves.
Summary
- Sensex up 63 points to 71,721; Nifty up 28 points to 21,647; mid-cap +0.73%, small-cap +0.83%.
- Polycab stock fell 20%+ after income tax raids on 50 premises uncovered ~Rs 1,000 crore unaccounted cash sales; Rs 4 crore cash seized, 25 bank lockers restricted.
- Shiva Cement up 14% on news JSW Group planning JSW Cement IPO (Rs 6,000 crore) — JSW Cement owns 59% in Shiva.
- Government considering Rs 30,000 crore de-risking fund for 8 lakh electric buses by 2030 — positive for Olectra Greentech, JBM Auto, Tata Motors, Ashok Leyland.
- Adani Group's airport business may IPO after triggers like Navi Mumbai airport operationalization; Kalyani Steels won bankrupt Kamineni Steel acquisition at Rs 450 crore.
market newsPolycabJSW
Original description
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