Keen to capitalise on the growing geopolitical support from African nations after the recently concluded G20 Summit, India is working with the African Union to hold the fourth India-Africa Forum Summit later this year in Kenya's Nairobi, sources said. Prime Minister Narendra Modi is expected to attend the mega meet along with as many as 50 African leaders, they added. First held in New Delhi in 2008, the India-Africa Forum Summit marked India's initial diplomatic efforts to seek a comprehensive partnership with the African bloc of nations as a whole, at a time when China had begun its own outreach.
Equity benchmarks staged a comeback during the fag-end of trade on Wednesday, with the Sensex climbing over 214 points amid continuous foreign fund inflows and a largely positive trend in global markets. Buying in IT counters and Reliance Industries added to the momentum. In a volatile session, the 30-share BSE benchmark ended 214.17 points or 0.37 per cent higher at 58,350.53.
Stock market investors became poorer by Rs 8.30 lakh crore as equities continued their slide for the sixth consecutive day on Friday. The BSE Sensex has tumbled 1,855.58 points or 3 per cent since February 16. During this period, the combined market capitalisation of BSE-listed firms has tanked Rs 8,30,322.61 crore to reach Rs 2,60,00,662.99 crore. "The domestic market is broadly demonstrating a lack of confidence, registering its sixth consecutive day of losses despite global markets turning green.
Eight of the top-10 most valued firms together lost Rs 2,21,555.61 crore from their market valuation last week in-line with the weak trend in the broader market, with Infosys and HDFC Bank suffering the biggest hit. The 30-share benchmark index, Sensex, lost 1,141.78 points or 1.95 per cent last week. From the top-10 pack, only Reliance Industries and Adani Green Energy emerged as the gainers.
The company has a valuation of Rs 2.22 trillion, up from Rs 1.33 trillion a year ago.
Domestic stock markets would be driven by inflation numbers, global trends, and the last batch of Q4 earnings this week, analysts said. Markets will also react to industrial production data and consumer inflation numbers that were released after market hours on Friday. "Participants will react to macroeconomic data viz. IIP and CPI first, which were released post-market hours on Friday.
India's largest telecom operator Reliance Jio gained over 79 lakh mobile users in March, comfortably surpassing the combined net adds by rivals Bharti Airtel and Vodafone Idea during the month, according to data released by TRAI on Friday. Bharti Airtel added 40.5 lakh wireless users, and interestingly Vodafone Idea gained 10.8 lakh customers during March (compared to the previous month). Reliance Jio added a staggering 79.18 lakh wireless subscribers in March, taking its customers base to about 42.29 crore.
Bharti Airtel was the top gainer in the Sensex pack, rallying around 11 per cent, followed by ONGC, UltraTech Cement, ITC, PowerGrid and NTPC. On the other hand, IndusInd Bank, Reliance Industries, L&T and SBI were among the laggards.
Six of the top-10 most valued domestic firms added Rs 91,629.38 crore cumulatively in market valuation last week, with ICICI Bank and Tata Consultancy Services clocking maximum gains. During the last week, which was holiday-truncated, the Sensex rallied 929.83 points or 2.10 per cent. The list of gainers had Reliance Industries Ltd (RIL), Tata Consultancy Services (TCS), Hindustan Unilever Ltd (HUL), Infosys, ICICI Bank and Bharti Airtel.
Bajaj Finserv was the top loser in the Sensex pack, shedding around 2 per cent, followed by HDFC, M&M, Bharti Airtel, UltraTech Cement and Kotak Bank. NSE Nifty fell 77.95 points to 15,030.15.
Bharti Airtel was the top loser in the Sensex pack, falling over 3 per cent, followed by Bajaj Finance, PowerGrid, SBI, HDFC Bank and Sun Pharma. HCL Tech was the top gainer, rallying around 10 per cent. TCS, Infosys, Tech Mahindra and Titan too ended with up to 5 per cent gains.
Telecom operator Bharti Airtel Chairman Sunil Mittal on Wednesday said the telecom sector reforms approved by the Cabinet will ensure that the industry is able to invest fearlessly, and the company will respond to Prime Minister Narendra Modi's call to invest and accelerate the country's growth. Among a series of breathers for the stressed telecom sector, the Cabinet has approved the inclusion of revenues earned only from telecom services in the adjusted gross revenue (AGR), and the removal of penalty on dues to be paid to the government prospectively. Mittal congratulated and thanked the government for undertaking these seminal reforms to lift an industry that is at the core of his Digital India vision.
HDFC Bank, Bharti Airtel, Axis Bank, Nestle India, ONGC, L&T and SBI and were among the laggards in the Sensex pack, shedding over 1 per cent. On the other hand, Bajaj Finserv, M&M, Bajaj Finance, Titan and TCS were among the gainers.
'At a time when massive strides are being made in bringing 5G technology to India, and with TSPs ramping up their infrastructure, it is unacceptable that a large number of complaints over quality issues continue to come in, even from major urban areas.'
Telecom operator Bharti Airtel and IT major Tata Consultancy Services (TCS) have joined hands to build a 5G-based remote working technology using robotics, according to a joint statement. TCS during the trials has successfully tested two use cases of its Neural Manufacturing solutions on Airtel's 5G testbed in Manesar - remote robotics operations, and vision-based quality inspection, the statement claimed. "The 5G ecosystem will open limitless possibilities for enterprises to enhance productivity and serve their customers even better with digitally enabled applications.
A sharp dresser, with a prominent jawline, Kohli will now have to contend with aggressive competition from Vodafone-Essar, perhaps the toughest so far in his career.
The combined market valuation of eight of the top-10 most valued companies zoomed Rs 190,571.55 crore last week, with Bajaj Finance emerging as the biggest gainer, reflecting bullish investor sentiment. While Reliance Industries Ltd (RIL) and Tata Consultancy Services (TCS) witnessed erosion in their market capitalisation, rest of the eight companies including Hindustan Unilever Limited, HDFC, ICICI Bank and Bharti Airtel emerged as gainers. The market valuation of Bajaj Finance jumped Rs 35,878.56 crore to Rs 2,63,538.56 crore, becoming the biggest gainer among the top-10 most valued firms.
Benchmark BSE Sensex and Nifty closed on a flat note after a volatile session on Wednesday profit booking in IT and realty shares negated gains in metal and oil & gas stocks. The 30-share BSE Sensex ended 35.78 points or 0.06 per cent lower at 58,817.29, while the broader NSE Nifty inched 9.65 points or 0.06 per cent higher at 17,534.75. The market remained range-bound for the most part of the session as investors kept their exposure low due to weak global cues, traders said.
Equity benchmark Sensex pared its early losses to close higher by 231 points on Monday, helped by buying in index heavyweight Reliance Industries and ICICI Bank amid positive global trends. After falling 537.11 points to a low of 56,825.09 in morning trade, the 30-share BSE barometer staged a recovery in afternoon trade and climbed 231.29 points or 0.40 per cent to settle at 57,593.49. As many as 20 Sensex stocks closed with gains while 10 declined. The broader NSE Nifty recovered 69 points or 0.40 per cent to settle at 17,222 with 29 of its constituents ending in green.
In percentage terms, IndusInd Bank, SBI, HDFC, ICICI Bank and L&T were among the top losers. On the contrary, Bharti Airtel, Reliance, Sun Pharma, HCL Tech and Maruti Suzuki emerged as major gainers.
Bajaj Auto was the top loser in the Sensex pack, shedding around 2 per cent, followed by TCS, HDFC Bank, Axis Bank, Reliance Industries and Tech Mahindra. On the other hand, Tata Steel, Bajaj Finserv, Bharti Airtel and NTPC were among the gainers. NSE Nifty dropped 38.10 points to close at 15,689.80.
With Chinese companies Huawei and ZTE excluded from participating in the 5G roll out, their absence leaves a vacuum in the market which will have to be filled by three vendors: Ericsson, Nokia and Samsung.
IndusInd Bank was the top loser in the Sensex pack, shedding around 2 per cent, followed by Titan, Tata Steel, M&M, Bajaj Finance and SBI. On the other hand, Bharti Airtel, HCL Tech, Tech Mahindra and Kotak Bank were among the gainers. NSE Nifty inched 8.95 points lower to 16,249.85 in early trade.
ONGC was the top loser in the Sensex pack, shedding around 3 per cent, followed by Sun Pharma, PowerGrid, Axis Bank, HDFC Bank, Bharti Airtel and Kotak Bank. NSE Nifty declined 124.10 points to 14,906.05.
SC said 10 per cent of the amount would have to be paid by March 31.
Titan was the top loser in the Sensex pack, shedding over 1 per cent, followed by TCS, HCL Tech, Reliance Industries, UltraTech Cement and Bharti Airtel. NSE Nifty settled 45.65 points down at 15,814.70.
Among the Sensex firms, Tech Mahindra, Tata Motors, Bharti Airtel, Wipro, Bajaj Finserv, HCL Technologies, Bajaj Finance, Larsen & Toubro, Mahindra & Mahindra and UltraTech Cement were the biggest laggards. IndusInd Bank, Power Grid, HDFC Bank, ICICI Bank, NTPC, Reliance Industries, HDFC and Tata Steel were the prominent winners.
From the Sensex pack, Mahindra & Mahindra, Bajaj Finserv, IndusInd Bank, Tata Motors, Tata Steel, Larsen & Toubro, Axis Bank and NTPC were among the major laggards. UltraTech Cement, Infosys, Asian Paints, Kotak Mahindra Bank, Sun Pharma and Bharti Airtel were the winners.
Kotak Mahindra Bank was the biggest loser from the Sensex pack, skidding 1.83 per cent, followed by Axis Bank, NTPC, Hindustan Unilever, ICICI Bank, Bharti Airtel, Reliance Industries, HCL Technologies, IndusInd Bank and Nestle. In contrast, Bajaj Finance, Bajaj Finserv, Tech Mahindra, Tata Consultancy Services, Titan, Infosys, HDFC Bank, HDFC and ITC were the gainers.
ICICI Bank was the top gainer in the Sensex pack, rising over 2 per cent, followed by Axis Bank, Infosys, HDFC twins, Bajaj Finserv and SBI. On the other hand, ITC, ONGC, Sun Pharma, Bharti Airtel and Titan were among the laggards.
Equity investors became poorer by Rs 7.48 lakh crore in five consecutive days of market fall, where the BSE Sensex has declined by nearly 3 per cent. In the past five days, the BSE Sensex has tumbled 1,713.71 points or 2.79 per cent. This has led to an erosion of Rs 7,48,887.04 crore from the market capitalisation of BSE-listed firms in five trading sessions.
The migration of domestically developed intellectual property to foreign corporations within India reflects an anomaly in the demand pattern of the country's job market, points out Kanika Datta.
Bharti Airtel on Thursday announced new postpaid plans and discontinued some previous ones. "In the post-pandemic world, an abundance of high-speed data is increasingly becoming a key need for customers as work from home and online education is the new normal. "In this context, Airtel has further simplified its postpaid plans to offer industry-leading data benefits backed by a 5G-ready network and superior digital-first customer care. "The plans also come with a range of exclusive benefits such as bundled content and business productivity tools," Airtel said in a press release.
There has been a sharp recovery in the headline corporate earnings in the April-June 2023 quarter (Q1FY24), after a dismal showing by early bird companies. The combined net profit of the 983 listed companies that have declared their quarterly results, so far, was up 64.7 per cent year-on-year to record a high of Rs 2.68 trillion in the first quarter, but growth in earnings remained lopsided because most of the incremental gains came from a handful of companies. Moreover, the quarterly numbers showed a continued slowdown in revenue growth.
Benchmark indices finished on a weak note on Thursday, extending their previous day's decline amid a negative trend in global equity markets after the US Fed hiked interest rates by 75 basis points. The 30-share BSE Sensex declined 69.68 points or 0.11 per cent to settle at 60,836.41. During the day, it tanked 420.95 points or 0.69 per cent to 60,485.14.
The top 10 valued firms added a total Rs 1,56,317.17 crore to their market valuation last week, helped by across the board rally which catapulted the benchmark index Sensex to the record 60,000 mark for the first time. During the last week, the 30-share BSE benchmark rallied 1,032.58 points or 1.74 per cent. The BSE Sensex made history on Friday by reaching the 60,000-mark for the first time ever. The market capitalisation (mcap) of Reliance Industries zoomed Rs 58,671.55 crore to reach Rs 15,74,052.03 crore. The m-cap of RIL went past Rs 16 lakh crore mark in intra-day trade on Thursday following a rally in its share price.
Jio had almost three times higher speed than its nearest rival Bharti Airtel.
Benchmark indices Sensex and Nifty ended with gains on Wednesday, extending the previous day rally amid lower level of inflation on domestic front and better-than-expected inflation readings from the US. The 30-share BSE Sensex climbed 144.61 points or 0.23 per cent to settle at 62,677.91. During the day, it jumped 301.81 points or 0.48 per cent to 62,835.11.
Telecom operators Bharti Airtel, Reliance Jio and Vodafone Idea on Tuesday submitted applications to participate in the Rs 3.92 lakh crore spectrum auction scheduled to start from March 1, according to official sources. This round of auction will be held for 2,251.25 Megahertz (MHz) in seven frequency bands -- 700 Mhz, 800 Mhz, 900 Mhz, 1800 Mhz 2100 Mhz, 2300 Mhz and 2500 Mhz -- at a cumulative base price of Rs 3.92 lakh crore. "Bharti Airtel, Reliance Jio and Vodafone Idea have submitted applications (for the spectrum auction)," an official source told PTI.
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