Latest news with #JaspreetBhullar
Business Standard
6 hours ago
- Business
- Business Standard
Sensex zooms 1,026 pts, Nifty crosses 25,250 as Trump signals Israel-Iran ceasefire
The key equity indices traded with impressive gains in the mid-morning trade, tracking a sharp rally in Asian markets after US President Donald Trump announced a ceasefire agreement between Iran and Israel. The easing of geopolitical tensions led to a pullback in global crude oil prices, providing further support to domestic equities. The Nifty traded above the 25,250 mark. Auto shares advanced after declining for the past trading session. At 11:30 ST, the barometer index, the S&P BSE Sensex, zoomed 1,025.94 points or 1.25% to 82,924.41. The Nifty 50 index rallied 305.95 points or 1.22% to 25,277.56. In the broader market, the S&P BSE Mid-Cap index rose 0.87% and the S&P BSE Small-Cap index added 1.05%. The market breadth was strong. On the BSE, 2,836 shares rose and 886 shares fell. A total of 186 shares were unchanged. The initial public offer (IPO) of Globe Civil Projects received bids for 1,18,70,649 shares as against 1,17,32,392 shares on offer, according to stock exchange data at 11:18 IST on Tuesday (24 June 2025). The issue was subscribed 1.01 times. The issue opened for bidding on Tuesday (24 June 2025) and it will close on Thursday (26 June 2025). The price band of the IPO is fixed between Rs 67 and 71 per share. An investor can bid for a minimum of 10 equity shares and in multiples thereof. The initial public offer (IPO) of Ellenbarrie Industrial Gases received bids for 4,12,069 shares as against 1,51,08,983 shares on offer, according to stock exchange data at 11:18 IST on Tuesday (24 June 2025). The issue was subscribed 0.03 times. The issue opened for bidding Tuesday (24 June 2025) and it will close on Thursday (26 June 2025). The price band of the IPO is fixed between Rs 380 and 400 per share. An investor can bid for a minimum of 37 equity shares and in multiples thereof. The initial public offer (IPO) of Kalpataru received bids for 6,91,416 shares as against 2,28,26,516 shares on offer, according to stock exchange data at 11:20 IST on on Tuesday (24 June 2025). The issue was subscribed 0.03 times. The issue opened for bidding on Tuesday (24 June 2025) and it will close on Thursday (26 June 2025). The price band of the IPO is fixed between Rs 387 and 414 per share. An investor can bid for a minimum of 38 equity shares and in multiples thereof. Buzzing Index: The Nifty Auto index added 1.60% to 23,835.55. The index declined 0.92% in the previous trading session. Samvardhana Motherson International (up 3.24%), Exide Industries (up 2.89%), TVS Motor Company (up 2.66%), Tata Motors (up 2.18%), Mahindra & Mahindra (up 2.13%), Ashok Leyland (up 1.95%), Hero MotoCorp (up 1.4%), Bajaj Auto (up 1.35%), Eicher Motors (up 1.27%) and MRF (up 0.93%) added. Stocks in Spotlight: Hindustan Construction Company (HCC) rose 0.93%. The company announced that Jaspreet Bhullar has tendered his resignation from the position of managing director and chief executive officer (CEO) of the company, effective from 23 June 2025. Gland Pharma rose 1.91% after the company announced that it has received an Establishment Inspection Report (EIR) from the U.S. Food and Drug Administration (USFDA), indicating the closure of the inspection at its Visakhapatnam facility Mahindra Lifespace Developers advanced 1.67% after the company announced the launch of its redeveloped residential project Mahindra 'Codename64 in Malad (West), Mumbai. Global Markets: US Dow Jones futures jumped 291 points, pointing to a strong open for Wall Street. Asian indices soared on Tuesday after President Donald Trump claimed that Iran and Israel had agreed to a ceasefire. However, neither country has officially confirmed accepting the proposed timeline. Overnight in the US, all three major indices closed higher as investor nerves eased following Irans relatively muted response to the US airstrikes over the weekend. The Dow gained 0.89%, the S&P 500 rose 0.96%, and the Nasdaq advanced 0.94%. Tesla shares surged over 8%, leading the Nasdaq's gains, after the company launched its long-awaited Robotaxi service in Austin, Texas. Sentiment also got a boost from Fed Governor Michelle Bowman, who signaled that a rate cut could be on the table at July's meeting, provided inflation and labor market data remain supportive. Speaking in Prague, Bowman also downplayed the inflationary impact of Trump's proposed tariff wave, calling it temporary. All eyes now turn to Fed Chair Jerome Powell, who begins two days of testimony before Congress starting Tuesday.
Business Standard
9 hours ago
- Business
- Business Standard
HCC MD & CEO Jaspreet Bhullar resigns
Hindustan Construction Company (HCC) announced that Jaspreet Bhullar has tendered his resignation from the position of managing director and chief executive officer (CEO) of the company, effective from 23 June 2025. Hindustan Construction Company is the flagship company of Hindustan Construction Company Group (HCC Group) and is involved in engineering and construction of infrastructure projects such as dams, tunnels, bridges, hydro, nuclear and thermal power plants, expressways and roads, marine works, water supply, irrigation systems and industrial buildings across the country. The company's consolidated net profit fell 63.4% to Rs 90.08 crore on a 22.5% drop in revenue from operations to Rs 1,373.70 crore in Q4 FY25 over Q4 FY24. Shares of Hindustan Construction Company rose 0.57% to Rs 30.25 on the BSE.
