Business News in Hindi Live: Mixed trend in Asian markets, GNIFTY breaks 100 points
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HDFC Bank becomes second most valuable company, TCS slips to third position
Days after the merger of HDFC Ltd with private sector HDFC Bank, it has overtaken TCS to become the country’s second most valuable company in terms of market capitalisation. HDFC Bank’s stock stood at Rs 1,688.50 at the close of trading in the stock market BSE. In this way, the total market capitalization of the company has become Rs 12,72,718.60 crore, which is more than Tata Consultancy Services (TCS). The market capitalization of information technology giant TCS stood at Rs 12,66,891.65 crore. This is Rs 5,826.95 crore less than HDFC Bank. The merger of its parent company HDFC Bank with HDFC Bank has come into effect from July 1. This deal of about $ 40 billion has been considered the biggest merger of the Indian corporate world.
Approval to issue separate license for Satellite Earth Station Gateway
The Digital Communications Commission has approved a proposal to issue separate licenses for Satellite Earth Station Gateways (SESGs) connecting space communications with ground-based networks. An official source said that the licensee of SESG will not provide any service directly to the end customers. To be a part of it, a one-time entry fee of Rs 10 lakh will be imposed on them. The source said that the Digital Communications Commission (DCC) has approved the recommendation of Telecom Regulatory TRAI regarding Satellite Earth Station Gateway. The SESG licensee will be permitted to set up multiple SESGs to meet the requirements of satellite service providers. However, they will have to take separate permission from DoT before setting up each SESG. The SESG license will be valid for 20 years from the date of issue and can be renewed for 10 years.
Mixed trend in Asian markets Mixed trend in Asian markets GNIFTY breaks 100 points
Weakness is visible in the market on the last trading day of the week. GNITY broke 100 points in the pre opening. After a weak start on Thursday, the BSE Sensex jumped 474.46 points to close at a new all-time high of 67,571.90 during the day. At the same time, Nifty also closed at a new record level of 19,979.15 points with a gain of 146 points. Whereas, on Thursday, Dow Jones gained 164 points and closed at the level of 35,225.18.
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