Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading over one percent higher on Monday, after last week’s crash. BSE Sensex was hovering around 49,680, while the broader Nifty 50 index was trading above 14,700. Stocks of blue-chip companies such as HDFC Bank, ICICI Bank, Reliance Industries Ltd (RIL), Infosys, Tata Consultancy Services (TCS) were major contributors to Sensex’ up move. Telecom giant Bharti Airtel was the top BSE Sensex laggard, down nearly 3 per cent, followed by Bajaj-Auto and Dr. Reddy’s Laboratories. All the Nifty sectoral indices were trading in the positive territory led by Nifty Media, Nifty IT and Nifty Auto indices, all up nearly 2 per cent.
Reliance Strategic Business Ventures Limited (RSBVL), a wholly-owned subsidiary of Reliance Industries Ltd (RIL) has further increased its stake in the US-based urban transportation technology company SkyTran developing pod taxis. The company on Sunday, in a statement, announced raising its stake to a majority 54.46 per cent on a fully diluted basis with an investment of $26.76 million.