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The review is reportedly done to review whether the potential of support for the group entities from Tata Sons is greater than what the ratings agency had previously thought of. This is due to increasing operational and management linkages within the group.

ADOBE-Adobe surges as AI optimism fuels annual revenue forecast

With its continued range-bound action within 23,300-23,500 levels, Nifty is not showing any early breakout signs on either side. A decisive move above 23,500 levels may open an upside breakout and a slide below 23,300 levels could mean a chance of downside breakout of the range movement in the near term.

U.S. oil refiner Phillips 66 said on Friday it would sell its 25% stake in the Rockies Express Pipeline (REX) for about $1.28 billion, including debt, to a subsidiary of Tallgrass Energy.

The market capitalisation of BSE-listed firms hit another record high of Rs 434.88 lakh crore on Friday as the BSE benchmark scaled new closing peak, rallying for the third day running.

Nifty Bank concluded the volatile week above 50K with weekly gains of 0.4%. It managed to recoup losses, leaving the bulls content. From the index, Federal Bank, Bank of Baroda and PNB saw buying activity and closed with gains of over 1% each. Selling was seen in SBI, IndusInd Bank and AU Small Finance Bank.

The billionaire businessman did so via the open market. He bought this stake in AEL in two tranches. Between May 10 and 14, he reportedly bought an additional stake of 0.42% in the group’s flagship company through Kempas Trade and Investment. He followed it up with a 0.92% stake purchase through Emerging Market Investment DMCC.

Domestic brokerage firm Prabhudas Lilladher said that it values Nifty at 5% premium to 15-year average PE 20.2x to arrive at bull case target of 27,102 as it showed conviction on large cap firms like ITC, RIL, HDFC Bank among others.

The 30-share BSE benchmark Sensex surged 182 points to settle at 76,993. The broader NSE Nifty rose 67 points and ended at 23,466. State-run companies and energy stocks also contributed to the rally on expectations of continued capital expenditure spending by the new government. The IT sector was the top sectoral loser, dropping 0.9%. The market capitalisation of all listed companies on BSE surged by Rs 3.2 lakh crore to Rs 434.86 lakh crore.