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The Dow Jones Industrial Average rose 78.4 points, or 0.20%, at the open to 39,591.28.

Keith Gill, known as "Roaring Kitty" on YouTube and "DeepF***ingValue" on Reddit, was a key figure in the so-called Reddit rally, which saw shares of GameStop surge as much as 21-fold over two weeks in January 2021 before crashing to pre-surge levels in the subsequent days.

Warburg Pincus will acquire the stake through its affiliate Mango Crest Investment from all the sellers. Shriram Finance (SFL) holds a controlling stake in SHFL while private equity firm Valiant Partners L.P. (Valiant), Mauritius, holds the remaining ownership. As a part of this transaction, Valiant will also completely divest its equity stake to Warburg Pincus, the company filing said.

The S&P BSE Sensex rallied over 100 points while the Nifty50 closed above the 22,100 level. Sectorally, buying was seen in healthcare, realty and capital goods stocks while public sector, oil & gas, energy and auto stocks saw some selling pressure.

The sharp interest rate hikes of the past two years will likely take longer than previously expected to bring down inflation, several Federal Reserve officials have said in recent comments, suggesting there may be few, if any, rate cuts this year.

Short covering signals a shift in view on security from extreme bearishness to bullishness.

In the corresponding quarter of the last financial year, the company had reported PAT of Rs 466 crore.

The company highlighted that one of the key vectors for growth for the business will come through the store expansion. In the fourth quarter, it added 75 net new stores taking the total store count to 526.

UPL reported a significant 95% YoY drop in consolidated net profit to Rs 40 crore for Q4FY24, with revenue from operations also declining 15% YoY to Rs 14,078 crore. This decrease is attributed to lower post-patent market prices.