The breakdown of talks between Greece and its international creditors raised fears of Greece's exit from the euro zone.
The Chennai facility will continue to service Indian and non-European markets. In July 2009, Hyundai India's managing director H S Lheem had said the company was planning to move production to Turkey, the Czech Republic or Slovakia.
Indian imports of Russian oil plunged by a record in August month-on-month (M-o-M) as discounts on the fuel shrank in tandem with rising Brent oil prices. Higher crude prices will drive inflation or hurt earnings at oil companies and India's fiscal position if such spikes are not passed on to consumers. Indian purchases of Russian crude declined by around 24 per cent in August from July to the lowest level since January, with refiners expecting volumes to drop further amid rising rates of Russian benchmark Urals grade, substantial stocks at refiners, and planned maintenance at Indian refineries, according to ship tracking data and industry officials.
Russia on Wednesday said there will be no impact of the Western sanctions against it on the supply of S-400 missile systems to India.
Investors will maintain a cautious stance.
The 30-share Sensex ended down 90 points at 19,429 after hitting an intra-day low of 19,398 and the 50-share Nifty ended down 40 points at 5,881 after touching an intra-day low of 5,871.
Markets ended lower for the third straight day on Tuesday weighed down by profit taking in rate sensitives with bank shares leading the decline after hopes of rate cut by the central bank faded.
Sentiments remained upbeat for yet another session following healthy gains across Asian and a higher opening at European markets
Titan was the top gainer in the Sensex pack, rising around 4 per cent, followed by HDFC, Nestle India, IndusInd Bank, UltraTech Cement and Bharti Airtel. On the other hand, Bajaj Auto, Tata Steel and NTPC were the laggards.
IndusInd Bank was the biggest loser in the Sensex pack, shedding nearly 2 per cent, followed by Bharti Airtel, Reliance Industries, HDFC twins, SBI, HUL, Tata Motors, Nestle India and Axis Bank. On the other hand, Asian Paints, Tata Steel, Titan and L&T were among the gainers, rising up to 3.03 per cent.
The wider NSE Nifty touched a low of 10,652.40 before finishing at 10,671.40, showing a loss of 97.75 points, or 0.91 per cent.
The S&P BSE Sensex ended the session at 25,342, up 3 points while the Nifty50 closed at 7,738 points.
It was August 2007. Tata Steel was turning 100. Jamshedpur, its hometown, had an air of celebration. The line-up for the special event included the launch of Air Deccan's commercial flight connecting Kolkata and Jamshedpur, and release of Russi Lala's new book, Romance of Tata Steel. There was also the screening of The Spirit of Steel, a 20-minute documentary directed by Zafar Hai showcasing Tata Steel's legacy, and a corporate anthem penned by Javed Akhtar and composed by Shankar, Ehsaan and Loy.
The top gainers on the Sensex are Gail(India), HDFC, Infosys.
Textile stocks have exhibited a mixed performance so far this calendar year (CY23), amidst higher domestic cotton prices and tepid global demand. Shares of Page Industries, Dollar Industries, Lux Industries, and VIP Clothing have declined up to 13 per cent so far in CY23, as against a 9 per cent jump in the S&P BSE Sensex. On the contrary, shares of Arvind, Welspun India, Raymond, and Gokaldas Exports have gained up to 51 per cent, during the same period.
Flush with surplus capital and liquidity, European banks are increasingly looking for potential acquisition targets in India among other emerging economies.
Benchmark equity indices Sensex and Nifty ticked higher for the ninth straight session on Thursday, buoyed by fag-end buying in banking, financial and realty stocks amid encouraging domestic retail inflation data. Weak trends in IT counters and fall in the overnight US equity markets triggered by fresh concerns over recession, however, put a check on market's uptrend. In a largely subdued session, the 30-share BSE Sensex went up marginally by 38.23 points or 0.06 per cent to settle at 60,431.
Even though Bharat Forge's performance in the July-September quarter broadly met Street estimates and defence orders are on the rise, the subdued outlook for its global business has prompted some brokerages to adopt a cautious stance on the company. Analysts have reduced the company's earnings per share (EPS) estimates to account for the slow recovery of its overseas subsidiaries. Valuations are also trading at long-term averages, which could limit potential upsides.
The MG Motor India management is focused on scaling up and launching smaller cars to play the long game in the country, says Pavan Lall.
The GSAT-31 is a 'high power' communication satellite going to serve and replace some of the satellites that are going to expire soon.
Market meltdown and volatility pushed many traders to the sidelines.
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The broader markets traded positively with mid-caps and small-caps rising 0.5 per cent each on the BSE.
The NSE Nifty too recovered over 100 points, or 0.96 per cent, to end at 10,576.85.
Deserted streets, limited customers, no revenue generation, huge rentals and restricted operations have forced many outlets to put their shutters down permanently while many others are struggling to survive by retrenching staff and tightening their purse strings on several other expenses.
The 30-share Sensex, after opening on a strong footing, continued its upward march to hit an all-time high of 35,827.70. The NSE Nifty also hit a record intra-day high of 10,975.10, before finishing at 10,966.20, up 71.50 points.
The enduring legacy of trade routes lies in shared stories and religious diversity. Can the India-Middle East-Europe Economic corridor harness this legacy to empower nations, asks Arundhuti Dasgupta.
The World Photography Organisation has revealed the winners for the Sony World Photography Awards 2024.
IndusInd Bank was the biggest loser in the Sensex pack, shedding 7.46 per cent, followed by SBI, Tata Motors, M&M, Bajaj Finserv, Axis Bank and Infosys. In contrast, Tech Mahindra was the only winner.
Tata Steel UK is reformatting its operations in Port Talbot by investing 1.25 billion in an electric arc furnace facility with the UK government contributing 500 million. The project will take around three years to complete, if all the regulatory clearances come through. The facility will use scrap and be classified as green since it will utilise renewable power and cut carbon emissions considerably.
Subdued Asian and European markets due to escalating trade war between the US and China mainly led to caution on domestic bourses, brokers said.
'Rhetoric and chest-thumping are running high on India's recent growth record.'
'But will the giant waves developing elsewhere allow us to sail smoothly into fair winds?' asks Debashis Basu.
Pharma shares extended losses after the government's ban on combination drugs.
In the last three years, 20 gardens have changed hands, and 90 per cent of the buyers are from non-tea background.
From the Sensex pack, Tata Motors, Sun Pharma, Wipro, Tata Consultancy Services, UltraTech Cement, Tech Mahindra, Bajaj Finserv, HCL Technologies, Infosys and IndusInd Bank were the major laggards. NTPC, Power Grid, Reliance Industries, Tata Steel, HDFC and HDFC Bank were the major winners.
The rising dependence on discounted crude oil has resulted in India's trade deficit with Russia hitting the second-highest place last year, after China, reveals Department of Commerce data. From April through January 2022-23 (FY23), India's maximum trade deficit was with China, at $71.58 billion. This was followed by Russia, where the deficit expanded sevenfold - from $4.86 billion in April-January of 2021-22 (FY22) to $34.79 billion during the same period in FY23.
With commodity markets remaining soft and uncertain, it is likely the money will flow into equity markets with strong upsides, such as India.
The broader markets are, however, outperforming the larger peer.
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