Shares of Oil marketing companies (OMCs) extended their gains for the fourth consecutive session on Thursday after crude oil prices plunged to six-month lows in the international markets, which boosted investor sentiments. Traders said the OMC stocks gained with crude oil prices hovering below $70 per barrel after OPEC-plus decision to increase output from April, a move which is expected to favour Indian refiners with added marketing margins on retail fuel.
Amid cooling raw material prices, the crude-oil linked companies, which includes paint and tyre firms, have been on a roll over the past one year. Shares of related companies have gained up to 84 per cent, as against a 14 per cent rise in the S&P BSE Sensex. Analysts, however, believe stretched valuations in both these sectors could trigger a de-rating.
Shares of MRF crossed a first time Rs 100,000 mark, hitting a record high of Rs 100,300, up 1.4 per cent on the BSE in intra-day trade. on June 13, 2023. The stock surpassed its previous high of Rs 99,879.65, touched May 8, 2023. Thus far in the current calendar year 2023 (CY23), MRF has outperformed the market by gaining 14 per cent on improved financial performance.
A host of macroeconomic data announcements, the last batch of September quarter earnings, global trends, and trading activity of foreign investors will be the major driving factors for the equity market this week, according to analysts. Equity markets would remain closed on Friday for Guru Nanak Jayanti. "India is set to release CPI and IIP data on November 12, with WPI data expected on November 14.
RBI's interest rate decision, quarterly earnings and global cues would be the major driving factors for equity markets this week, analysts said adding that the impact of the Union Budget could linger on this week. Trading activity of foreign investors will also be a key driver for the markets, experts noted. "US and India's manufacturing PMI for January to be released on Monday, will be the key macro data to watch out for.
Tatas, Ambanis, Adanis, Birlas contributed an average of Rs 800 crore to Rs 1,000 crore per family group.
Apollo Tyres Ltd on Tuesday signed up the doubles team of India's Mahesh Bhupathi and Radek Stepanek of the Czech Republic for the ATP and Gland Slam tours of 2007.
Apollo had made efforts to acquire Cooper Tire at the end of 2012.
Manchester United's first team players, goalkeeper David De Gea, winger Anthony Elanga and midfielder Donny van de Beek will visit India on December 1 to kick-start activities related to the third edition of the club's grassroots level initiative.
27 large listed firms give double-digit hikes to top executives despite a decline in net profit.
When it comes to the replacement of old tyres with new ones, car owners are in a catch-22 situation, wondering about the tyre brand, price and most importantly, tyre warranty.
Stock markets will be driven by quarterly earnings by index majors, global trends and the RBI's interest rate decision this week after digesting news on budget proposals and US Federal policy outcome, say analysts. The trading activity of foreign investors and the movement of global oil benchmark Brent crude would also dictate trends in equities. "On the domestic front, the MPC (Monetary Policy Committee) meeting is scheduled from February 6-8.
Industry seeks cut in customs duty on natural rubber.
Domestic tyre demand is seen to grow by 7-9 per cent over the next five years.
If Indian money looks around at the economic climate and decides instead to go to Latin America, West Asia, or China, then why would foreign money's decision be any different?
The Kanwar family, promoters of tyre major Apollo Tyres Ltd, is foraying into the healthcare delivery business, with the launch of Artemis Health Sciences
It also asked why the data shared pertained to a period from April 2019 even though the scheme for anonymous political funding was introduced in 2017.
CEAT was for all practical purposes a sick company in 2001.
With an eye to the large and growing market for their products, Indian auto component and tyre companies are making a beeline to set shop in Europe (especially Eastern Europe). Just last month Apollo Tyres announced that it was setting up a euro 200 million green field venture outside Hungary. And Delhi based Amtek Auto will set up a production base which will come in to operation in 2009 in Romania.
Industry experts are demanding a change in the inverted duty structures this Budget to boost domestic industries.
The list includes Gautam Adani's brother Vinod Adani among others.
From steel tycoon Lakshmi Mittal to billionaire Sunil Bharti Mittal's Airtel, Anil Agarwal's Vedanta, ITC, Mahindra and Mahindra, and a lesser-known Future Gaming and Hotel Services were among the prominent buyers of the now-scrapped electoral bonds for making political donations.
Operations of several top companies, located in central and south Gujarat, continued to be affected on Friday with torrential rains lashing several parts of Gujarat for close to a week.
Apollo Tyre's vice-chairman and joint managing director Neeraj R S Kanwar speaks about the company's global foray and its plans to compete with global majors who're slowly increasing their share of the local market as well
Raamdeo Agarwal of Motilal Oswal Securities believes that the current market valuations are fair. He feels that the market is still buoyant and the sentiment will remain positive.
The Securities and Exchange Board of India (Sebi) plans to roll out a new regulatory framework for registrar and transfer agents (RTAs) - the market intermediaries responsible for the record-keeping of bondholders and shareholders after a company offers securities to the public. The markets regulator, sources said, is considering a multifold increase in net-worth requirement, a move that may dissuade companies from having in-house RTAs for record-keeping. At present, the minimum net worth required for RTAs is Rs 50 lakh and Rs 25 lakh in categories I and II, respectively.
No one would have dreamt then that, in the space of a generation, Delhi would be challenging Mumbai to become the country's business capital.
Apollo Tyres chairman and managing director Onkar Kanwar on Tuesday took over as the new president of industry body FICCI for 2004-05.
No respite in sight as not many big deals, initial public offerings in pipeline.
Bajaj Auto's Rahul Bajaj, Sunil Mittal of Bharti and Oil and Natural Gas Corp's Subir Raha are among the 20 finalists announced by Ernst and Young for the E&Y Entreprenuer of the Year award.
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