Indian stock market witnessed a broad-based buying, which lifted Indian stock market benchmarks—the Sensex and the Nifty 50—by more than 1 per cent each in intraday trade on Thursday, June 5. However, the key indices trimmed their gains to end around half a per cent higher, marking the second straight session of gains. The Sensex opened at 81,196.08 against its previous close of 80,998.25 and jumped over 900 points, or 1 per cent, to an
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June 5 (Reuters) – Procter & Gamble (PG.N), opens new tab said on Thursday it would cut 7,000 jobs, or about 6%, of its total workforce over the next two years, as part of a new restructuring plan to counter uneven consumer demand and higher costs due to tariff uncertainty. The world’s largest consumer goods company also plans to exit some product categories and brands in certain markets, executives said at a Deutsche Bank Consumer Conference in
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Shares of Dr. Reddy’s Laboratories surged 4 percent on Thursday amid a rally in the broader market. The company’s announcement of a strategic collaboration with Alvotech to co-develop, manufacture, and commercialize a biosimilar version of Keytruda (pembrolizumab) for global markets helped the stock to trade in the green today. Adding to the momentum, HSBC upgraded Dr. Reddy’s to a ‘Buy’ from ‘Hold’, and raised its target price to Rs 1,445, up from Rs 1,235. The pharma
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The Indian market ended higher today after a largely rangebound session, with the Nifty closing above the 24,600 mark and broader markets continuing to outperform the benchmarks. Quick-service restaurant (QSR) stocks witnessed strong buying interest, with Swiggy jumping 9% and Eternal Foods rising over 3%. Bharti Airtel advanced 2% following a positive brokerage note, while HDFC Bank closed 1% higher after SEBI approved the ₹12,500 crore IPO of its subsidiary, HDB Financial Services. On the
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Adani Airports Holdings Ltd (AAHL), a subsidiary of Adani Enterprises Ltd, has secured $750 million in external commercial borrowings from a consortium of international lenders. The funds will be used to refinance $400 million in existing debt, with the remainder allocated for capital expenditure at six airports and AAHL’s non-aeronautical businesses, Adani Enterprises said in a stock exchange filing on Wednesday. The financing round was led by First Abu Dhabi Bank, Barclays, and Standard Chartered Bank.
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