SBI was the top loser in the Sensex pack, shedding around 3 per cent, followed by Kotak Bank, IndusInd Bank, NTPC, ICICI Bank, Axis Bank and HDFC Bank. On the other hand, HUL, ITC, L&T, Bajaj Finserv and Tech Mahindra ended with gains.
Oravel Stays - which operates hospitality tech firm OYO - on Friday pre-filed its Draft Red Herring Prospectus with stock market regulator Sebi, sources said. Sources close to the company told PTI, OYO may launch its initial public offering (IPO) around Diwali this year. Unlike the traditional route where companies have to launch the IPO within 12 months from the Sebi approval, or final observation; in the pre-filing route, an IPO can be floated within 18 months from the date of Sebi's final comments.
The government will soon resolve the security concerns surrounding third-generation (3G) video calls.
Next-generation security and disaster management business seems to be next on the radar of Mukesh Ambani-led Reliance Industries, which will utilise its 4G telecom services for this new initiative.
China remains a "formidable challenge" that has increased its presence not only along India's land borders but also in the maritime domain, Navy Chief Admiral R Hari Kumar said on Tuesday and asserted that the naval force keeps a regular watch in the Indian Ocean Region.
Institutional shareholders of Reliance Industries Limited (RIL) are expecting big-ticket announcements from the company, including timeline for listing of its telecom and retail subsidiaries. They expect this to unlock value in the company, which has seen a sharp fall in market valuation on Friday. This is due to windfall tax imposed by the Centre on refiners and oil producers.
'Rajnath Singh's message was very clear: India's focus is on developing self-reliance.'
IndusInd Bank, Kotak Bank, ICICI Bank, Sun Pharma, Bajaj Finance and Ultratech Cement were prominent gainers. NSE Nifty rose 176.65 points to 14,867.35.
Among top losers, Reliance Industries (RIL) sank over 4 per cent, after the company shelved a proposed deal to sell a 20 per cent stake in its oil refinery and petrochemical business to Saudi Aramco for $15 billion. Other laggards included Bajaj Finance, Bajaj Finserv, NTPC, SBI and Titan.
The National Democratic Alliance government will completely review the security provided to more than 150 VIPs by the previous United Progressive Alliance regime following completion of the upcoming budget session of Parliament.
P-note is, however, now not a preferred route for investing in India as Sebi has made registration easier and also desirable for FPIs.
Kotak Bank was the top loser in the Sensex pack, shedding over 2 per cent, followed by ICICI Bank, PowerGrid, HDFC, IndusInd Bank and Axis Bank. NSE Nifty declined 45.75 points to 16,568.85.
Shreekant Sambrani remembers P R S 'Biki' Oberoi, personal friend and hospitality icon, who passed into the ages this week.
Eleven start-ups completed a programme launched by Gennext Ventures.
RIL says Sebi has not asked for revision of offer price, expecting clearance soon.
Brokerages expect Nifty50 companies to have cumulatively witnessed strong double-digit growth in their earnings in the first quarter of FY24 (Q1FY24). This growth in the combined earnings is expected to have been driven by banks, automakers, and oil & gas companies. Other sectors may report muted profit growth.
Weeks after it revised the rating outlook of two companies of embattled Adani group, S&P Global Ratings on Wednesday said it is watching for additional information on the conglomerate's governance and funding for any ratings action. Investors, it said, seek clarity on the credit impact of a string of allegations against the group in a short-seller report published in late January, and on the findings of a recently launched Supreme Court investigation. S&P Global published an FAQ-style commentary titled, "Adani Group: The Known Unknowns".
'The debate is not whether the Indian defence apparatus is in a state of disrepair, but whether it is capable of securing the defence of the country if any envisaged threat becomes real.'
Benchmark equity indices Sensex and Nifty closed higher on Friday after two days of fall, helped by buying in metal, telecom and auto stocks amid a firm trend in global markets. Automakers led by Maruti Suzuki India, Hyundai, Mahindra & Mahindra reporting robust wholesales of passenger vehicles and GST collections crossing Rs 1.50 lakh crore for the third straight month in May also added to the optimism. The 30-share BSE Sensex climbed 118.57 points or 0.19 per cent to settle at 62,547.11.
Reliance Industries was the top loser in the Sensex pack, shedding over 2 per cent, followed by SBI, UltraTech Cement, IndusInd Bank, NTPC and Sun Pharma. On the other hand, Maruti, M&M, Tech Mahindra, Bajaj Finance, Infosys and Bajaj Finserv were among the gainers.
Indian rupee is likely to test 76-76.50 levels as a relatively strong greenback, boiling crude prices and COVID headwinds deepen the depreciation bias for the domestic currency, according to experts. One of the significantly-hit Asian currency in recent months amid uncertain economic times, rupee is expected to see a consolidation in the vicinity of the current level before being pulled towards the depreciation bias. While the equity market has been surging with occasional blips, the rupee has mostly been weak against the US dollar in recent months.
Ambani, a Rajya Sabha member, had written to the Centre about two months ago requesting necessary action, sources said.
Investors are showing some interest in the downstream energy cycle. Refiners and marketers, especially the public sector (PSU) oil marketing companies (OMCs) could see a revival of marketing margins. Lower crude oil and gas prices may also improve margins in industries like paints, logistics, synthetic fabrics, plastics, and fertilisers. In the medium-term, however, there could be a supply overhang affecting OMCs as new refining capacities are scheduled to be commissioned, especially in China, and this may lead to a drop in the refining margins as capacity would be surplus to demand until and unless there's a pick-up in global growth.
According to the recent report, IAF's Air Officer Commander at one of the stations was approached by the Reliance Infocomm for installation of a booster antenna within the station complex in May 2004 and the permission was granted by the concerned authorities. The company was asked to pay Rs 5,000 as rent and allied charges to the government, which was subsequently reduced to Rs 1,000 in September 2005.
'Ensuring through diplomatic means and in conjunction with strategic partners that India will not be required to fight a simultaneous two-front war with China and Pakistan.' Brigadier Gurmeet Kanwal (retd) lists what India must have in its national security strategy.
Reserve Bank of India Governor Shaktikanta Das on Monday stressed on achieving 100 per cent self-sufficiency in banknote manufacturing in the near future. He was speaking after dedicating Varnika, the ink manufacturing unit of Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL), to the nation in Mysuru. BRBNMPL, a wholly-owned subsidiary of the RBI, has set up Varnika with an annual ink manufacturing capacity of 1,500 MT to enhance the security of banknotes.
President Xi Jinping on Monday vowed to build China's military into a "Great Wall of steel" to protect its sovereignty and developmental interests as he sought a bigger role for Beijing in global affairs, days after brokering a Saudi Arabia-Iran detente, regarded as a diplomatic coup.
The first half of 2019-20 will be under pressure, since prices are expected to go up by Rs 7,000-8,000 at a time when sentiment is poor.
Benchmark equity indices Sensex and Nifty on Tuesday spurted by over 2.5 per cent to log their best single-day gains in three months, propelled by heavy buying in metal, energy and banking stocks amid a global rally in stocks. The 30-share BSE benchmark zoomed 1,344.63 points or 2.54 per cent to settle at 54,318.47 points with all of its constituents closing with gains. During the day, it jumped 1,425.58 points or 2.69 per cent to 54,399.42. The broader NSE Nifty rallied 417 points or 2.63 per cent to finish at 16,259.30 points.
ITC was the top gainer in the Sensex pack, spurting over 2 per cent, followed by Infosys, Asian Paints, HCL Tech, Maruti, PowerGrid, ICICI Bank and TCS. On the other hand, Bharti Airtel, ONGC, HDFC Bank, IndusInd Bank and Bajaj Auto were among the laggards. NSE Nifty rose 16.75 points or 0.14 per cent to close at 11,930.95.
From the Sensex pack, Tata Motors, Sun Pharma, Wipro, Tata Consultancy Services, UltraTech Cement, Tech Mahindra, Bajaj Finserv, HCL Technologies, Infosys and IndusInd Bank were the major laggards. NTPC, Power Grid, Reliance Industries, Tata Steel, HDFC and HDFC Bank were the major winners.
Another major announcement that came was an MoU signed between GE and Hindustan Aeronautics Limited to jointly produce fighter jet engines for the Indian Air Force.
As temperatures soar across the country, amid searing heat wave, analysts see power demand hitting fresh record highs this year. The time, therefore, may be opportune to add related stocks on dips as higher demand boosts earnings visibility, they said. On April 18, India's electricity demand touched a new high of 216 gigawatts.
Despite unprecedented levels of uncertainty in Samvat 2077, investors have little to complain about on the returns front. The BSE Sensex delivered returns of 38 per cent in this period, while the Nifty registered a return of over 40 per cent. As is the case in bull markets, companies in the small- and mid-capitalisation basket outperformed the benchmarks, with returns almost twice those of frontliners.
"We continue to be operationally deployed and ever vigilant," he said, adding the IAF continues to monitor all Chinese activities along the LAC.
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.
'India has entered an economic super-cycle driven by a housing cycle turnaround.'
Jyothi Yarraji smashed the women's 100m hurdle national record for the second time in less than two weeks while winning the event at the Loughborough International Athletics Meet in the UK.
