Share Market LIVE: Sensex, Nifty expect muted start; Gift Nifty trades flat
₹2,134 crore in Indian stocks. Traders' sentiment has remained optimistic in domestic equities.
The market is placing its bets ahead of Q1 results for FY24.Vinod Nair, Head of Research at Geojit Financial Services said, “The market is maintaining its optimism; however, a profit-booking tendency is visible at the upper band as the recent rally has raised the market to the historic new high range. The momentum of the market has shifted from the frontlines of this year to the laggards like IT, commodities, and PSUBs.
The market is taking a breather ahead of the upcoming Q1 results."Genus Power & Infrastructure has announced that GIC, Singapore's sovereign wealth fund, will acquire a 74% stake in its new smart metering solutions venture for $2 billion. According to the press release, Gem View Investment, an affiliate of GIC, will hold the majority stake of 74% and will have controlling rights in the platform.
Genus Power & Infrastructure will retain the remaining 26% stake.This strategic investment by GIC highlights its interest in the smart metering solutions sector. By acquiring a significant stake in Genus Power & Infrastructure's venture, GIC aims to capitalize on the growth potential of the smart metering industry.Mahindra & Mahindra (M&M) has reported a 21% increase in domestic passenger vehicle sales for June 2023 compared to the same month last year.
The company sold 32,588 units of passenger vehicles in June 2023, whereas in June 2022, the figure stood at 26,880 units.According to a statement from M&M, the domestic sales of utility vehicles reached 32,585 units in June 2023, reflecting a growth of 22% compared to the same period in the previous year. In June 2022, the company had sold 26,620 units of utility
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