The Sensex and Nifty indices in India experienced a decline today, with the Sensex falling 1.13% to 61,054.29 and the Nifty dropping 1.02% to 18069.00.
As you can see, the Nifty 50 had a mixed day, with Titan gaining 2.34% to reach Rs. 2732.90, Ultratech rising 1.69% to Rs. 7628.80, and Maruti Suzuki climbing 1.68% to Rs. 8948.65. Nestle also experienced gains, rising 1.50% to Rs. 22019.85, while Hero MotoCorp went up by 1.30% to Rs. 2647.25. On the other hand, HDFC Bank lost 5.91% to reach Rs. 1625.65, HDFC declined 5.58% to Rs. 2702.30, and Indusind Bank dropped 5.40% to Rs. 1073.30. Hindalco also experienced a decline of 2.53% to Rs. 434.25, and UPL went down by 2.28% to Rs. 714.85.
Today's market decline was mainly caused by the fall of HDFC Bank and HDFC, which was due to the reshuffling of the MSCI index. The IT stocks were the most affected, particularly in the financial services sector.
In terms of quarterly results, Piramal Enterprises saw its Q4 loss widen to Rs. 196 crore. Meanwhile, Blue Dart Express's net profit fell to Rs. 69 crore in Q4, and Safex Chemicals' revenue increased 82% to Rs. 1437 crore in the same quarter. On the other hand, Britannia Industries reported a 47% increase in Q4 net profit to Rs. 559 crore, with revenue up by 13%, while Marico's Q4 net profit rose 18% to Rs. 305 crore, and revenue increased by 3.6%.
What is 'Bailout' ?
In financial news, a bailout refers to the act of providing funding to a company that is struggling with the heavy burden of loans to save it from being shut down. This support can be provided by an organization or even the government in emergency situations for the country or any other emergency reason.The company which is saved from falling due to loans is called a bailed out company.
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