The liquidity-fuelled rally will continue for some time, however, fundamentals are getting stretched.
Investor wealth on Wednesday diminished by Rs 1.84 lakh crore amid massive sell-off in the equity market.
A bench headed by Chief Justice P Sathasivam sought response from the Centre and RIL on a PIL filed by Communist Party of India Member of Parliament Gurudas Dasgupta who alleged that no due diligence was done by the government while increasing the price of natural gas.
While Mukesh Ambani-led RIL posted a 108 per cent YoY rise in profit after tax for Q4FY21 at Rs 13,227 crore, it fell short of Bloomberg estimate of Rs 13,704 crore.
The wedding, which is billed as the India Inc's most expensive yet, was held at Antilla.
The rupee resumed higher at 60.13 per dollar as against the last closing level of 60.20 at the Interbank Foreign Exchange market, and hovered in a range of 60.07 and 60.18 per dollar before quoting at 60.08 at 1000 hours.
Ajit Mishra, vice president, Research, Religare Broking, answers queries on how to invest in stocks.
Some of India's biggest employers are testing for antibodies to either comply with regulatory norms or gauge the effectiveness of precautionary measures.
Investors' wealth zoomed by Rs 5,78,634.72 crore in two days of intense market rally, with participants adding Rs 2,74,908.83 crore to their fortune on Tuesday. Over the past two sessions, the BSE gauge Sensex has gained about 1,461 points or 2.99 per cent. The benchmark rallied 612.60 points or 1.24 per cent to settle above the 50,000-mark on Tuesday. Following the two-day massive rallies, the market capitalisation of BSE-listed companies jumped by Rs 5,78,634.72 crore to a record Rs 2,16,39,367.91 crore on Tuesday.
In a range-bound trading, the BSE benchmark Sensex ended a shade higher by 1.57 points in the special 90-minute trading today as funds refrained from making any major commitments in the absence of global cues.
Analysts said with more power sector companies referred to the NCLT by banks, large companies would be at an advantage.
Unlike RIL, the Adani group has not yet brought in any big stakeholders to refinance debt or expand.
With the dizzying rise in the number of Covid-19 cases in the country, India Inc has transitioned from a wait-and-watch policy to full-on emergency mode, bringing back remote and flexi work, stringent safety protocols, and allowing only essential travel. Companies - especially in metros like Delhi, Mumbai and Kolkata - that had adopted a hybrid work model during the last few months when the caseload remained low, are either switching back entirely to work-from-home (WFH), or calling skeletal staff to office on select days. Take the case of cigarettes-to-hotels major, ITC, which had been on a hybrid work model over the last few months.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Regulators will need to allow the model to evolve to allow profits to flow, says Una Gulani.
Prime Minister Narendra Modi on Saturday inaugurated the 6th India Mobile Congress at Pragati Maidan in Delhi and launched 5G services. The 5G telecom services seek to provide seamless coverage, high data rate, low latency and highly reliable communications system. The three major telecom operators of the country demonstrated one use case each in front of the prime minister to show the potential of 5G technology in India.
It, however, remains to be seen how much money Softbank actually puts in, what the implied equity valuation is and if the e-commerce venture is included in the Jio entity.
In what is in effect a deposit to be paid into court pending a full trial in the case, Judge David Waksman has set a six-week timeline for Anil to pay $100 million to three Chinese banks as he concluded that he did not accept Ambani's defence that his net worth was nearly zero or that his family would not step in to assist him when "push came to shove".
India, the world's fourth-biggest oil consumer, recently offered Saudi Aramco a stake in refineries and petrochemical projects.
Sensex ends 134.91 pts down at 28,709.87; Nifty falls 44.70 pts at 8,712.05.
The company is looking to invest more than $3 bn over the next three years.
Hails country's recent digital highways and predicted India to become digital content capital of world.
Markets will be closed on Thursday and Friday on account of Holi and Good Friday, respectively.
The Central Bureau of Investigation on Wednesday registered eight more preliminary enquiries in connection with issues related to intercepted phone calls of lobbyist Niira Radia against former Jharkhand Chief Minister Madhu Koda, Reliance Industries Limited and others in separate cases.
The top losers from the Sensex pack are ONGC, Coal India, Vedanta, Reliance Inds and L&T.
Stressing on the 'Make in India' initiative, a Ministry of Defence appointed committee has recommended enhanced private sector involvement by granting manufacturers tax and import concessions.
According to software company Mavernir, the new virtualised networks would lead to a saving of 40 per cent in capex and 34 per cent in terms of lower operations cost for operators.
Analysts cut upstream firms' FY15 earnings estimates, while raising those for GAIL and Gujarat Gas.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The NINL management can see this as their moment of giving back to the nation and humanity. Its plant has an oxygen unit that can produce 418 tonnes of oxygen every day. 418 tonnes is about 58% of Delhi's daily demand for oxygen, notes Sudhir Bisht.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
The just-concluded plenary session of the ruling Communist Party of China (CPC), headed by Xi, adopted his proposals for the formulation of the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035.
The meeting will focus on how to make the crisis an opportunity for India.
Talking corporate heads are a barometer of the business community's engagement with the economy. If they have nothing to say now there should be cause for concern.
Union Finance Minister Nirmala Sitharaman on Monday said banks need to focus more on being customer-friendly so that the process of availing credit becomes more hassle-free for borrowers. However, the minister made it clear that banks do not have to be lenient on credit underwriting standards by taking any adverse risks on a proposal. At a meeting between industry representatives and the finance minister, a startup founder in the baking business suggested for credit to be available hassle-free, to which largest lender SBI's chairman Dinesh Kumar Khara said a startup's worries are more on the equity side and assured full support in lending if sufficient equity is on the table.
India's telecom sector has been through dizzying peaks, troughs, policy U-turns, court battles, brutal competition, and daily controversies. India could go back to a private sector duopoly with just Reliance Jio and Bharti Airtel surviving the mayhem. The third player, Vodafone Idea, could be history.
Sensex rises, Nifty ends at record high; RIL shares rally.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The defence ministry on Wednesday announced a fresh list of 351 sub-systems and components that will not be allowed to be imported under a staggered timeline beginning December next year.
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