OPENING BELL: Stock Market Began With Huge Losses Today

The Indian stock market began with huge losses today, January 25, 2024. At 10.30 am, the Sensex lost 555 points and is trading at 70,514.81 points, and the Nifty lost 143 points and is trading at 21,310.80 points. However, the Indian rupee opened marginally lower at 83.11 per dollar against the previous close of 83.07.

Tata Steel will hold a shareholders’ meeting today (January 25, 2024), where the company will consider its merger with subsidiary Indian Steel and Wire Products, as per a filing with the exchanges. However, the meeting will be conducted through audio-visual mediums at 11 a.m. today, January 25.

Tata Steel approved the merger of its subsidiary, Indian Steel and Wire Products, along with the amalgamation of six more subsidiaries in 2022. In fact, the company had approved the amalgamation of Tata Steel Long Products, Tinplate Company of India, Tata Metaliks, TRF, The Indian Steel & Wire Products, Tata Steel Mining Limited, and S&T Mining Company with Tata Steel, according to its stock exchange filing released on September 22, 2022.