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Indian markets experienced profit-taking on Monday following new record highs. Benchmark indices trimmed their gains to end the day flat but with a slight positive tilt. The S&P BSE Sensex reached a peak of 81,908, while the Nifty50 soared to a record high of 24,999.

As per a term sheet issued by IIFL Securities, Quality Investment Holdings (a Carlyle entity) will sell 1.66 crore shares at a floor price of Rs 775 each, aiming to raise Rs 1,256 crore. The floor price is 5% below Monday’s closing price of Rs 794.90.

Colgate Palmolive India reported a 33% rise in first-quarter profit on Monday, boosted by price hikes and steady domestic demand.

Steel products maker Goodluck India on Monday posted a 22 per cent rise in consolidated net profit to Rs 34.99 crore during the June 2024 quarter, helped by higher income. It had clocked Rs 28.59 crore profit in the year-ago period, the company said in an exchange filing.

Though the near-term uptrend status of Nifty remains intact, the market could probably show some more choppy movement or minor dip in 1-2 sessions before surging higher in the near term. Immediate support is at 24,600 levels.

The Indian rupee hit a record low of 83.74 against the U.S. dollar on Monday, closing at 83.7275. Corporate dollar demand and local equity outflows added pressure. The Reserve Bank of India likely intervened to prevent further decline.

Ola Electric IPO Latest News: Tiger Global, through its arm Internet Fund Pte, has acquired the shares at Rs 11.70 and will get around 549% return on investment through the IPO. The PE firm is selling about 63.6 lakh shares under the OFS and is likely to make a profit of Rs 49 crore.

On Monday, Nifty nearly hit 25k but retraced, while Sensex reached a new peak at 81,908. Both indices closed flat, with minimal changes.

The 30-share BSE benchmark Sensex rose 23 points or 0.03% to settle at 81,355. The broader NSE Nifty gained 1.25 points or 0.01% to end at 24,836. From the Sensex pack, L&T, Bajaj Finserv, M&M, UltraTech Cement, and SBI were the top gainers, rising 1-2.8% higher. On the other hand, Titan, Bharti Airtel, ITC, Tech Mahindra, and Kotak Bank ended in the red.

Book publishing small cap company Navneet Education today announced that its board of directors will consider a buyback of shares in the upcoming board meeting of the company, scheduled on August 1. The shares of the company surged 5% to Rs 163.20 on BSE following this announcement.