Top market news today - 25th November 2024

Top gainer: ONGC 258 ▲ 12 (+5.23%)
Top loser: JSW Steel 949 ▼ 28 (-2.90%)

:star: Zomato shares jumped as much as 7.46%
Shares of Zomato, the online food delivery company, jumped as much as 7.46% to ₹283.93 apiece on the NSE in the morning trade on Monday, November 25, as the stock will enter the benchmark BSE Sensex, replacing JSW Steel. Besides, Zomato has also received shareholder approval to raise ₹8,500 crore through qualified institutional placement (QIP). The company passed a board resolution for this fundraise just ahead of its rival Swiggy’s IPO. As per reports, Zomato has hired investment bank Morgan Stanley to initiate the process of the new QIP round.

:star: IFCI shares jumped nearly 15%
Shares of IFCI jumped nearly 15% to ₹64.18 apiece on the BSE; the company’s board approved the consolidation of IFCI Group companies. “The board of IFCI at its meeting held on November 22, 2024, has considered and accorded in-principle approval to consider consolidation of IFCI Group,” the filing read.

:star: RITES shares rose as much as 13% to ₹310 apiece
RITES shares jumped as much as 13% to ₹310 apiece on the BSE. The stock gained after the firm informed exchanges that it has received a revised estimate of ₹532 crore for an electrification project under the Northeast Frontier Railway. The revised total cost for the project stands at ₹531.77 crore, excluding GST, which marks an increase from the original cost of ₹288.44 crore.