Moneycontrol Selects: Top stories this evening

A round-up of the big stories

Here is a collection of the most important stories this evening:

Market cap of BSE-listed companies hits $5 trillion first time ever

The market capitalisation of companies listed on BSE has crossed a record $5 trillion for the first time - hitting a fresh high on May 21 - data on the BSE website showed, underscoring an ongoing rally in the Indian stock markets. Read more

Kotak highlights 'unsustainable' valuations as 104 companies trade above 50x P/E, nine above 100x

Kotak Institutional Equities has cautioned that the valuations of numerous Indian companies are unsustainable. The domestic brokerage highlighted that 104 companies are trading at over 50 times PE, while nine companies are trading above 100 times PE. Read more

Jefferies raises share price target of this smallcap defence firm, sees 25% upside

International brokerage Jefferies raised its share price target of aerospace and defence player Data Patterns to Rs 4,135. Read more

Byju’s crisis: Employees grapple with financial distress, humiliation, emotional trauma

Raj, 27, climbed the ranks at Byju’s from a sales associate to a team leader in just three years. The latest promotion also came with a hike of 50 percent on his last salary of Rs 8.7 lakh per annum, encouraging him to finally take a leap of faith and buy a home for his parents in Mumbai. Read more

MC Selects

Vodafone Idea to raise Rs 2,075 cr via preferential allotment of shares to AB Group

Vodafone Idea has announced that its board has approved raising up to Rs 2,075 crore from Oriana Investments, an entity of promoter Aditya Birla Group, through a preferential share issue. Read more

TCS banks on responsible AI toolkit to support customers with regulatory concerns

Tata Consultancy Services (TCS), India’s largest IT services company, has launched a responsible artificial intelligence (AI) framework and toolkit for customers and cloud partners. Read more

Singapore Airlines flight makes emergency landing in Bangkok, one dead, 30 injuries reported

A Singapore Airlines flight from London made an emergency landing in Bangkok on Tuesday due to severe turbulence, officials said, with one passenger on board dead and local media reporting multiple injuries. Read more