GAGA Share Market News

[hfe_template id='11223'] [ad_1] Notwithstanding a below par election outcome, Narendra Modi-led National Democratic Alliance (NDA) government could still be in a position to bring the gas sector under the purview of Goods and Services Tax (GST) tax, Citi Research said in a note. The US brokerage remains constructive on the gas sector and picks GAIL (India) and Mahanagar Gas Limited (MGL) as its top bets in the energy sector. GAIL shares today jumped 8% to the day's high of Rs 210.85 while MGL gained 5% aiding Nifty Oil & Gas index's uptick. The 15-stocks index was among the top performing indices and was up 2.5% around 12:30 pm. All counters were trading in the green. Citi's optimism rested on the NDA government still possessing the requisite majority in the GST Council. It said that one of the significant developments in the Modi 3.0 government could be the bringing of the gas sector under the GST ambit. While this issue in itself is relatively less con...

[hfe_template id='11223'] [ad_1] About Rs 1.27 lakh crore was wiped off of Reliance Industries Ltd's (RIL) investors as shares of the company ended 7.5% lower on BSE today as poll counting estimates showed that Prime Minister Narendra Modi-led NDA alliance was not likely to score as much as exit polls had predicted in the 2024 Lok Sabha elections. Shares of RIL had made a new all-time high of Rs 3,029 on June 3 when the total market capitalization of the company hit at Rs 20.44 lakh crore. It currently stands at Rs 18.9 lakh crore. In the meantime, Sensex ended nearly 4,400 points lower on Tuesday while Nifty was down by 6%, dragged down by heavyweights Reliance Industries and financial stocks. From the Sensex pack, Reliance Industries, HDFC Bank, and ICICI Bank alone contributed to a 2012-point decline in the index while L&T, SBI, Axis Bank, NTPC, and Power Grid were other stocks dragging the index downwards. Also read: Adani suffers Rs 3 lakh crore shock as sto...