Home appliance maker Crompton Greaves Consumer Electricals reported better than expected performance in the second quarter (Q2) of 2024-25 (FY25), outperforming peers due to a strong showing in the electrical consumer durables (ECD) segment. The company's standalone sales rose by 10.5 per cent, while the ECD segment continued its growth momentum with a 12.5 per cent increase in revenues, driven by volume and pricing gains.
'Rather than taking a very short-term view on the markets, equity investing should be premised on longer term growth opportunities.'
Overseas investors have pulled out a net Rs 1,14,855.97 crore from the Indian markets in the current year so far, amid heightened geopolitical tensions and inflation concerns. Foreign portfolio investors have sold domestic equities worth Rs 48,261.65 crore so far this month, taking the year-to-date tally this year to a massive Rs 114,855.97 crore, according to depositories data. The exodus of foreign investors was largely owing to inflationary pressures and deepening global macroeconomic conditions following the Russia-Ukraine war, experts said.
Equity benchmarks pared initial gains to end lower on Friday, recording their third day of decline, amid weak trend in IT counters. The 30-share BSE Sensex tumbled 452.90 points or 0.75 per cent to settle at 59,900.37. During the day, it tanked 683.36 points or 1.13 per cent to 59,669.91.
The counsel for the petitioners in the hijab ban row on Monday told the Supreme Court the Karnataka high court did an "objectionable" thing when it tried to "interpret" the Holy Quran and held the headscarf worn by Muslim women was not an essential religious practice.
From the 30-share pack, Titan, Tech Mahindra, Maruti Suzuki India, Wipro, Nestle India, TCS, Larsen & Toubro, HCL Technologies, Tata Steel and HDFC Bank were among the major laggards. NSE Nifty declined 69.75 points to settle at 17,153.
Tata Steel was the top loser in the Sensex pack, sinking nearly 10 per cent, followed by SBI, IndusInd Bank, HDFC, Dr Reddy's and M&M. NSE Nifty tumbled 188.25 points to 17,396.90.
Rising for the fourth straight day, benchmark indices Sensex and Nifty settled marginally higher after a choppy session on Friday, tracking mixed global trends amid uncertainties on the geopolitical front. The BSE Sensex opened weak and declined 414.44 points to 55,049.95 in opening deals. But within minutes, it pared all its losses and jumped 369.56 points to 55,833.95. Facing volatility, the index finally settled at 55,550.30, higher by 85.91 points or 0.15 per cent.
Tech Mahindra was the top gainer in the Sensex pack, jumping over 5 per cent, followed by Bajaj Finance, Bharti Airtel, Bajaj Finserv, L&T, Tata Steel and Infosys. NSE Nifty surged 191.95 points to 15,824.05.
Waves of foreign portfolio investments worth over Rs 51,000 crore splashed into the Indian market in 2021 as overseas investors turned net buyers of domestic securities for the third straight year while excess global liquidity and other factors steered the ebb and flow of their investing ways. With the global financial system still flush with liquidity, emerging market assets, especially equities, might well remain the preferred investment avenue for many more months to come, experts opined. As the equities sizzled during most of 2021, that also saw economy slowly coming back into the recovery path, Foreign Portfolio Investors (FPIs) turned net buyers but their investment is much less compared to net inflows of Rs 1.03 lakh crore in 2020.
'It was a reaffirmation of his party's unrelenting defiance of its erstwhile ally, the BJP; an attempt to forge a new relationship with the community the Shiv Sena had always targeted; and a pointer towards the political imperative of taking everyone along if the fight against the ruling party had to succeed,' notes Jyoti Punwani.
'If it is proved that a Ram temple was demolished and on the same place a masjid was constructed, I think we have got no right to be there for a moment.'
Students in Mumbai react to Narendra Modi's initiative of speaking to them on Teacher's Day.
'No one talks about the Mumbai riots anymore, though like Delhi 1984, the guilty have not been punished. In Gujarat, many powerful leaders of the state's ruling party are in jail for their role in the riots... In Mumbai, only one politician of the Shiv Sena, a former MP, was convicted of hate speech, along with two other Shiv Sainiks, one of whom was a corporator and the other a junior functionary... So why the apathy? Could it be because despite these statistics and the widely-publicised findings of the Srikrishna Commission, what remained in public consciousness was the violence by the Muslims, thanks to a highly efficient Sena propaganda machine? There's no demand for it, but would an SIT probe into the closed cases of the Mumbai riots help today?' The fadeout of Mumbai's riots from public debate can be called a triumph of the communal State, argues Jyoti Punwani.
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