Zomato Surpasses Tata Motors and Bajaj Auto, Sensex and Nifty End in the Red

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In a significant development on Friday, December 20, 2024, the stock market witnessed a sharp decline. The BSE Sensex closed down by 1,176 points, settling at 78,041, while the Nifty saw a drop of 364 points, closing at 23,587. Out of the 30 Sensex stocks, 20 experienced gains while 10 saw declines.

Zomato Overtakes Tata Motors and Bajaj Auto: Market Cap Soars to ₹2.78 Lakh Crore

In a surprising turn of events, online food delivery company Zomato has now become a larger company than automotive giants Tata Motors and Bajaj Auto. Zomato’s market capitalization has surged to ₹2.78 lakh crore, surpassing both Tata Motors and Bajaj Auto. The company is now poised to join the prestigious Sensex index.

Other Major Headlines from the Market

  1. Gold and Silver Prices See a Dip: Gold prices dropped by ₹636, bringing the price of 24-carat gold to ₹75,377 per 10 grams. Silver also saw a decline, losing ₹1,902.
  2. India’s Wealthy to Double by 2027: According to research from the Anarock Group, the number of High-Net-Worth Individuals (HNIs) in India with assets over ₹8 crore is expected to rise to 16.5 lakh by 2027, up from the current 8.5 lakh.
  3. Adani Group to Invest ₹27,900 Crore in Bihar: Adani Group has announced a major investment of ₹27,900 crore in sectors such as thermal power, cement, logistics, and more in Bihar, which will generate 53,500 jobs.
  4. Google to Lay Off 10% of Employees in Managerial Roles: Google CEO Sundar Pichai announced that the company will reduce 10% of jobs in managerial positions, including Directors and Vice Presidents, amid increasing competition in AI.
  5. Bajaj Launches New Chetak 35 Series Electric Scooter: Bajaj Auto unveiled the updated Chetak 35 Series electric scooter, which offers improved features and a range of 153 km on a full charge, priced starting at ₹1.20 lakh.

As we head into the weekend, investors are watching the stock market closely, particularly with new developments like Zomato’s rise and key market shifts.



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