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Today's top stories, including FPIs staying net buyers of Indian equities for second session, Wipro's $100 million deal, Vedanta's $2 billion investment in Saudi, and more.
The Nifty closed 27.40 points, or 0.11% down at 24,194.50, while the Sensex ended 105.79 points, or 0.13%, lower at 80,004.06 on Tuesday, reversing a two-session rally.
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Overseas investors stayed net buyers of Indian equities for the second day after ending a 38-session selling streak on Monday. While domestic institutional investors remained net sellers for the second straight session.
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Vedanta plans to invest $2 billion in the construction of copper-processing facilities in Saudi Arabia. The company will build a new smelter and refinery with a capacity of 400,000 metric tons per year.
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Bitcoin experienced its longest losing streak since Donald Trump’s election victory, following a failed attempt to reach $100,000. The digital asset completed a three-day drop of roughly 6% through Monday before trading at $94,000 as of 7:30 a.m.
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The Central Board of Direct Taxes clarified that current PAN card holders will not need to reapply as they are integrated into the new PAN 2.0 system.
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Cars24 has experienced faster growth in its value-added services, including financial services and insurance, than in its core business during the financial year ending March 2024.
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Infosys will award 90% variable pay to its employees for the second quarter of the fiscal. The bonus payout was issued to all eligible junior and mid-level employees on Nov. 26.
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Wipro has secured a four-year, $100 million deal with Marelli, a Japan-based global automotive parts manufacturer. The project will focus on cloud transformation and improving operational efficiency to foster innovation and shorten time-to-market.
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Axis Asset Management Company and Axis Mutual Fund Trustee have reached a settlement with the market regulator SEBI over alleged violations concerning the charging of Total Expense Ratio to Asset Management Company books. The settlement, valued at over Rs. 16 lakh, resolves the matter without the companies admitting or denying the charges.
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