Here is a collection of the most important stories this morning:
Bulls drive Nifty to 21,700, Sensex to new high; rally to continue on US Fed pivot, banking gains
Bulls ruled the Street on December 28 morning, charging the benchmark BSE Sensex and Nifty 50 to record highs of 72,281.63 and 21,728.3, as strong global cues, easing bond yields, and weaker dollar added enough fodder for the rally. The Nifty Bank index, too, clinched an all-time high of 48,589 in opening trades. Read more.
Solid start | Azad lists at Rs 720, over 37% premium to IPO price
Sachin Tendulkar-backed Azad Engineering saw a strong start on bourses on December 28, listing at 37.4 percent premium against its issue price. The stock began trading at Rs 720 on the NSE and Rs 710 on the BSE, while its IPO price was Rs 524. Read more.
DMDK founder and actor Vijayakanth dies after battle with illness in Chennai
Desiya Murpokku Dravida Kazhagam (DMDK) founder and general secretary Vijayakant, who was hospitalised in Chennai for pneumonia, passed away on December 28. He was 71. Read more.
10 midcap stocks that rewarded MF investors in 2023
Midcap stocks demonstrated an impressive performance in 2023, with the Nifty Midcap 150 TRI delivering an absolute return of 38 percent year-to-date (YTD). Many midcap stocks rallied and traded near their lifetime highs. Read more.
Zomato trades lower on Rs 402-crore show-cause notice for GST dues
Zomato shares traded 2 percent lower on December 28 after the food delivery aggregator received a Rs 402-crore show-cause notice from the goods and services tax (GST) authorities over unpaid dues. The tax amount alleged in the notice is based on the sum collected by the company as 'delivery charges' from customers on behalf of the delivery partners. Read more.
Social media, e-comm, gaming companies may be required to erase data of inactive users after 3 years
In the coming days, social media companies, e-commerce platforms, and online gaming services might be required to delete the personal data of users who have been inactive on these platforms for three years, as per an unreleased version of the draft rules of the Digital Personal Data Protection Act. Read more.
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