The 30-share BSE Sensex surged by 477.24 points or 0.83 per cent to close at more than one-week high of 57,897.48. As many as 28 of its constituents closed with gains while two declined. The broad-based Nifty of the National Stock Exchange rose by 147.20 points or 0.86 per cent to settle 17,233.45, tracking gains in Sun Pharma, Asian Paints, and Reliance Industries.
On the last day of FY!5, the Sensex ended lower by 18.37 points at 27,957.49.
For the seven months since February 2014, the benchmark index surged nearly 27%.
In the season of aviation action, Rakesh Jhunjhunwala-backed Akasa Air has secured the crucial no-objection certificate (NoC) from the civil aviation ministry. It expects to start operations next summer. The airline will now have to apply for the Directorate General of Civil Aviation for operations permit. Aviation sector has been in the limelight with the Tata Group winning the Air India bid last week.
An opportunity to enter a burgeoning sector at a low valuation and favourable policies are propelling some of India's largest corporate groups to scoop up drone start-ups. "Indian corporations lost the race in aerospace and space tech. "No one wants to miss the bus this time. "These are seasoned businessmen and they realise that the market cap of tech companies with problem-solving capabilities will exponentially rise in future," says Vipul Singh, CEO of Aarav Unmanned Systems (AUS).
Broader markets broke the winning streak and ended lower, underperforming the benchmark indices
Sensex climbs higher on favourable global cues.
The 30-share Sensex ended higher by 31 points at 26,591 and the 50-share Nifty gained 10 points at 8,061.
Sensex ended strong, Tata Steel, HUL climb higher.
The Carens is a warning for cars such as the Tata Safari, Hyundai Alcazar, Maruti Ertiga, Toyota Innova Crista and Mahindra XUV 700, because Kia punches much harder than others in its weight category.
Shares of ING Vysya Bank and Kotak Mahindra Bank rallied by up to 6% on the BSE on reports that Kotak Mahindra Bank in final stages to buy the bank.
Mid- and small-cap indices have outperformed the frontline benchmarks - the S&P BSE Sensex (up around 10 per cent) and the Nifty50 (13 per cent) - in the first half of calendar year 2021 (H1-CY21) by rallying 26 per cent and 39 per cent, respectively. The trend, analysts believe, is likely to continue in H2-CY21 as well. The outperformance in H1-CY21 comes on the back of improved earnings and strong inflows from the foreign portfolio investors (FPIs) in Indian equities. However, good monsoon so far, gradual opening up of the economy and the pick-up in the pace of vaccination provides support to the market.
The demand for minerals, boulders and sand is so great that it has fueled a black market and the goons who control this trade do not hesitate to kill law enforcement officers and reporters who have tried to expose them.
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
There is money to buy the central public sector enterprises, but buyers will need a firm assurance that the disvestment programme will keep environment issues front and centre of their corporate plans.
At a closed-door meeting with global investors, the largest asset manager in the country boasted of its nearly Rs 37 trillion assets under management (AUM) - 16.6 times that managed by the second-largest insurer SBI Life. The numbers are as of March 31, 2021. The assets of LIC are 1.2 times the net assets of the entire Indian mutual fund industry, which had AUM of Rs 31.43 trillion as of March 31, 2021 (about Rs 37.3 trillion until November this year). The standalone assets that LIC manages are equal to 18.7 per cent of India's GDP and worth more than gross domestic product (GDP) of the UAE, Bangladesh, Malaysia, Singapore, Hong Kong, South Africa, New Zealand, and Pakistan.
Markets in green tracking firm global cues.
The market players are expected to react to the better than expected factory output data for the month of August, which revealed that the industrial production grew by 6.4%.
The Sensex opened with a positive gap of 273 points at 17,560 on the back of strong US markets on Thursday and a rally in Asia. Autos, IT and selective banking stocks were the key movers. It inally ended with a gain of 313 points at 17,600. The NSE Nifty moved up 62 points to close at 5,228. Reliance Infrastructure gained 6.9% to Rs 1523, ICICI Bank was up 6.4% to Rs 935.50 and Maruti Suzuki gained 6.2% to Rs 788. Wipro gained 2.8%, Satyam was up 2.5% and TCS advanced 2.3%.
Recently, world headlines buzzed with Elon Musk's announcement that he was shelving his audacious bid for social media platform Twitter. Away from the media spotlight, questions are being asked about the maverick billionaire's plans in India, too. A few days ago, a Reuters report said Musk's flagship Tesla had put on hold its plan to launch electric cars in India.
High ground clearance, a wide cabin and tall stance all mean that the Carens glides over bad roads with ease and comfort and an engine performance that is adequate in terms of the power of this vehicle, says Pavan Lall.
The BS-VI norms are expected to increase the price of two-wheelers by 10-14 per cent.
Step on the gas and the power that propels the compact four-seater will take you by surprise as it hurtles towards the 80 kmph like a racing thoroughbred, never compromising any stability thanks to its rigid chassis and solid 1,600-kg kerb weight that gives it a well-planted feel along straights, corners and tricky lanes and roads, says Pavan Lall.
AOL has launched its next-generation of E-mail services in India, which include unlimited storage, effective safety and spam-blocking systems and mobile services ahead of its launch in the US and Europe.
How Shibani Bhagat plans to rewrite the rules of the Indian sneaker business.
India has emerged as one of the top three choices for investments in the next 2-3 years, with more than two-thirds of respondents in a survey of multinational companies (MNCs) citing the country as their number one choice for future investments. According to the FDI survey released on Tuesday by CII in association with EY, about half of the respondents see India amongst the top three economies or leading manufacturing destinations of the world by 2025.
For the Congress' revival, the eclipse of the Gandhis is absolutely necessary, asserts Virendra Kapoor.
Audi, Mercedes and BMW will soon hot up the market.
Despite the romance around the car and its early models, Fiat in India will also be remembered as a brand that frittered away the first mover advantage, says Shally Seth Mohile.
The delay and faltering partnership mean Wal-Mart may miss out on the "first-mover" advantage in a country considered the last great frontier for global retailers.
'People will say a lot of things -- ignore the noise.'
How the XUV300's suspension, plastics and interiors hold out in Indian conditions after a couple of years will be the litmus test for its success in the long term, but for now, this SUV delivers, says Pavan Lall.
Reliance Industries rose by 1.16 per cent while ITC and ICICI Bank zoomed up to 2 per cent, lifting the indices to all time high levels.
Analysts remain sceptical on the profitability from freighter business, saying that once normal air transport resumes and there's abundant belly capacity, the traditional economics of air cargo may not be that lucrative.
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Retail giant Tesco's entry into Indian market has hit a regulatory roadblock.
The drug that it would supply is called Olanzapine, used to treat schizophrenia and bipolar disorder.
The NSE Nifty ended at 3235, up 112 points. The market breadth was fairly positive - out of 1,613 stocks advanced, 975 declined and the rest were unchanged.
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
According to an M&S spokesperson, the 35 per cent price cut and an expansion in its store network will help the brand in widening its customer base.
