Stock Market Weekly Recap - 23 Sep to 27 Sep

The market maintained a positive outlook, with Sensex and Nifty posting gains for the third consecutive week. The steady rise of both indices signals healthy market conditions, supported by favorable economic data and strong investor confidence.

On Friday, September 27th, the Nifty 50 closed at 26,178.95, after touching an all-time high of 26,277.35, marking a 1.18% weekly increase, while the Sensex closed at 85,571.85, after touching an all-time high of 85,978.25, marking a 1.09% weekly increase.

Nifty 50: Top Gainers and Losers

Top Gainers

Top Losers

Important Highlights between 23 Sep to 27 Sep

Zee Media Approves Rs.200 Crore Fundraising Through Warrants

Zee Media Corporation's board has approved a plan to raise Rs.200 crore by issuing warrants. This initiative aims to bolster the company's financial standing and support its growth objectives. The warrants will be offered to select investors, allowing them to convert these into equity shares at a later stage. This approach provides Zee Media with immediate capital while offering investors a chance to benefit from the company's future growth. The move aligns with the company's strategy to improve liquidity and invest in potential expansion opportunities.

Fedbank Financial Services Appoints Shyam Srinivasan as Non-Executive Chairman

Fedbank Financial Services has named Shyam Srinivasan as its new Non-Executive Chairman, in line with its efforts to strengthen governance and leadership. With his vast experience in the financial services industry, Srinivasan is expected to provide key insights and guidance to the board. This appointment underscores Fedbank's dedication to enhancing its operational frameworks and maintaining strong oversight amid a dynamic market environment.

Ola Launches HyperService to Boost EV After-Sales Support

Ola CEO Bhavish Aggarwal has unveiled HyperService, a new initiative designed to greatly improve after-sales support for electric vehicle customers. The plan includes expanding the number of company-owned service centers from 500 to 1,000 by December 2024, along with the training of 100,000 third-party mechanics by December 2025. Ola also guarantees 1-day repair resolutions, offering backup scooters in case of delays. Additionally, the upcoming MoveOS 5 update will introduce AI-powered diagnostics to proactively detect and resolve vehicle issues, enhancing customer service and the overall ownership experience.

Lloyds Engineering Works Approves Rs 1.32 Crore Loan and Implements Governance Enhancements

Lloyds Engineering Works Limited, in its recent board meeting, announced several key decisions, including the approval of a ?1.32 crore vehicle loan facility from HDFC Bank and the establishment of an Executive Committee to manage various responsibilities. The board also approved the Cost Audit Report for the 2023-24 fiscal year and reconstituted its Internal Committee in accordance with the Sexual Harassment of Women at Workplace Act. These actions reflect the company's ongoing commitment to strengthening corporate governance and enhancing its financial standing.