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Reliance has fixed July 20 as the record date to determine eligible shareholders for the allotment of shares of the demerged entity. Under the demerger, shareholders of Reliance will get one share of the demerged entity Reliance Strategic Investments for every one share held by them in the conglomerate.

Profit climbed to ₹11,951.7 crore, beating estimates of ₹11,375.1 crore drawn from analysts polled by Bloomberg. The bank, which merged with its mortgage-lending parent HDFC from July 1, had posted profits of ₹9,196 crore in the same period last year. ETIG data showed that the bank had last posted a 30% profit growth in December 2019.

​Her portfolio leans towards more traditional stocks in manufacturing, textile, chemicals, and sugar stocks.​

Expect provisions to keep declining, led by lower slippages and better asset quality trends. Both the MFI and vehicle finance portfolio is showing improving trends. Building in slippages of 2.2% (Rs 16 billion). The key focus area would be the cost of funds given the sharp rise in raising deposits and ability to sustain current levels of loan growth

The spun-off entity will be included in Nifty 50 and few other indices for a brief period until it gets officially listed on the stock exchanges, NSE said in a release.

Sheela Foam has signed a deal to acquire a 35% stake in online furniture retailer Furlenco furniture for Rs 300 crore. The acquisition of a 95% stake in Kurlon Enterprises values the latter at Rs 2,150 crore. The company plans to complete the buyout by November this year. The acquisition will see Sheela Foam having a pan-India presence and diversification in the customer base.

The Dow Jones Industrial Average, however, falls 9.29 points, or 0.03%, at the open to 34,499.74. Investors are cautious ahead of quarterly results from industry heavyweights through the week. Bridgebio jumps 48% at open to highest since December 2021

Sectorally, buying was seen in banks, the public sector, energy, and oil & gas stocks while selling was seen in auto, realty, and telecom stocks.

The IPO of Netweb Technologies sailed through on Day 1 on strong demand from NII and retail investors.

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