Nifty ended flat with a gain of 1 point, awaiting an upside breakout. Artisan Partners divested a 1.2% stake in Indus Towers. S&P 500 hits a fresh record high. Vedanta considers minority stake sale in Zambian copper assets. Apollo Tyres’ Q3 net profit jumps 78%. Alibaba misses revenue estimates, boosts share buyback. Sobha’s net profit falls 53%. Foreign portfolio investors turn net sellers. JK Paper reports a 29% decline in net profit. Oil prices rise on lower-than-expected rise in US crude stockpiles. Get all the latest updates on the stock market.
Alibaba Group Holding Ltd’s cloud division is weighing a private round to raise funds from Chinese state-owned enterprises ahead of the business’ market debut in Hong Kong, Bloomberg News reported. The tech giant could potentially raise about $1.38-$2.75 billion through its Cloud Intelligence Unit fundraising, according to sources.
