In our mystery the watchdog agencies are silent, but it is the market that has barked and has not stopped barking. Till such time as it continues to do so, this headache will not go away, notes Aakar Patel.
Passenger vehicle sales in India could hit a record of over 38 lakh units in FY23 but the strong growth momentum is not expected to carry over to 2023-24 with pent-up demand already been released, according to Tata Motors Passenger Vehicles managing director Shailesh Chandra.
Benchmark BSE Sensex rallied over 350 points on Tuesday following gains in index majors HDFC twins, Bharti Airtel and Infosys amid a largely positive trend in global equity markets. The 30-share BSE barometer jumped 350.16 points or 0.61 per cent to settle at 57,943.65. During the day, it rallied 408.04 points or 0.70 per cent to 58,001.53. The broader NSE Nifty gained 103.30 points or 0.60 per cent to settle at 17,325.30.
China's covid crisis could provoke a raw material crunch for India's EV industry later this year.
Capital markets regulator Sebi has imposed a penalty of Rs 10 lakh on Jayant Bhusare, who was one of the executive of Sampark Infotainment, in a case pertaining to the irregularities in the NSE's 'Dark Fibre' case. He has been directed to pay the fine within 45 days, the Securities and Exchange Board of India (Sebi) said in its order. On Tuesday, the regulator had levied a fine totaling Rs 44 crore on 18 entities, including NSE, Sampark, certain brokers and their respective past and present employees in the same matter.
Digital firm One97 Communications, which operates under Paytm brand name, on Thursday said its IPO will open on November 8 for subscription in the price band of Rs 2,080-2,150 apiece, which implies that the firm's valuation stands at Rs 1.44 lakh crore-Rs 1.48 lakh crore. The initial public offer (IPO) subscription will close on November 10.
HCL Tech was the top gainer in the Sensex pack, rising around 3 per cent, followed by Tech Mahindra, Tata Steel, Wipro, NTPC and Titan. Nifty advanced 187.05 points to 16,801.25.
Sebi has restructured its advisory committee on market data that recommends policy measures pertaining to areas like securities market data access and privacy. Rejigging its market data advisory committee, Sebi has said the panel will now have 21 members, as per the latest information with the regulator. Earlier the committee had 20 members. The committee is chaired by M S Sahoo, Professor at National Law University, Delhi and former chairperson, Insolvency and Bankruptcy Board of India (IBBI).
Reserve Bank will have to constantly re-assess the "dynamic and fast changing situation" and tailor its actions accordingly, Governor Shaktikanta Das said during the recent meeting of the Monetary Policy Committee (MPC) which decided to maintain status quo on key interest rate. According to the minutes of the six-member MPC meet released by Reserve Bank of India (RBI) on Friday, the five other members had also expressed a similar opinion amid the ongoing Russia-Ukraine conflict's impact on the global and domestic economies. MPC, which held its meeting from April 6-8, unanimously decided to keep the borrowing costs unchanged at a record low for the 11th time in a row in a bid to continue supporting economic growth despite inflation edging higher in the aftermath of Russia-Ukraine conflict.
Equity investors became poorer by over Rs 6.71 lakh crore on Thursday as domestic benchmark indices tumbled amid a global market meltdown. The 30-share BSE benchmark Sensex tanked 1,416.30 points or 2.61 per cent to settle at 52,792.23, tracking weak global markets and persistent foreign fund outflows. In line with the weak market trend, the market capitalisation of BSE-listed firms tumbled by Rs 6,71,051.73 crore to stand at Rs 2,49,06,394.08 crore.
Investors' wealth on Thursday tumbled over Rs 2.81 lakh crore as stocks declined in line with selloff in global equities. The 30-share BSE benchmark index tanked 581.21 points or 1 per cent to settle at 57,276.94. During the day, it cracked 1,418.79 points to 56,439.36. In tandem with weak trend in equities, the market capitalisation of BSE-listed firms tanked Rs 2,81,147.38 crore to Rs 2,59,97,419.48 crore.
Tibetan spiritual leader the Dalai Lama was administered the first dose of anti-coronavirus vaccine at Zonal Hospital Dharamsala on Saturday morning.
The Reserve Bank will hold a special meeting of its rate-setting committee on November 3 to prepare a report for the government on why it failed to keep retail inflation below the target of 6 per cent for three consecutive quarters since January. The six-member Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das will prepare the report on reasons for failure to meet the inflation target as well as the remedial measures the central bank is taking to bring down prices in the country. "Under the provisions of Section 45ZN of the Reserve Bank of India (RBI) Act 1934... an additional meeting of the MPC is being scheduled on November 3, 2022," RBI said in a statement on Thursday.
Continuing its decline for the third day on Friday, the BSE gauge plummeted 1,214.96 points or 2.20 per cent to 53,887.72 during the day. It settled at 54,333.81, a decline of 768.87 points or 1.40 per cent.
The Reserve Bank of India (RBI) has relaxed card-on-file data storage norms pertaining to guest transactions checkout, whereby now, apart from the card issuer and the card network, the merchant or its payment aggregator involved in the settlement of the transactions can save the data for a maximum of T+4 days or till the settlement date, whichever is earlier. And, acquiring banks have been permitted to store the card-on-file data until January 2023 for handing other post-transactions activities. The industry reached out to the RBI on the issue and sought a solution.
SoftBank Group-backed Ola Electric is in talks with multiple global suppliers to build a battery cell manufacturing plant in India with a capacity of up to 50-gigawatt hours, sources said. As part of its broader electrification push, the firm plans to invest in companies with advanced cell and battery technology, alongside the 50 Gwh battery plant. Ola Electric needs 40 Gwh of battery capacity to power 10 million electric scooters annually. The remainder will be for its electric cars, which the company plans to manufacture in the future.
PowerGrid was the top gainer in the Sensex pack, rising around 4 per cent, followed by ITC, Bajaj Finance, Infosys, NTPC and Tech Mahindra. NSE Nifty advanced 117.15 points to 17,072.60.
Tata Motors on Monday said it has bagged an order for supply of 10,000 XPRES-T EV units from BluSmart Electric Mobility. The deployment of 10,000 units makes this the biggest ever EV fleet order in India, the auto major said in a statement. With deliveries starting soon, these vehicles are an addition to the 3,500 XPRES-T EV order, which was signed by both the companies in October last year, and will be used across the country for commuters, in turn helping minimise the carbon footprint.
Benchmark indices continued their downtrend on Monday, with the Sensex falling 84.88 points, tracking selling in index majors Infosys and Reliance Industries along with weak global equities. The 30-share BSE benchmark went lower by 84.88 points or 0.15 per cent to settle at 56,975.99 after recovering some lost ground during the fag-end of trade. During the day, it tanked 648.25 points or 1.13 per cent to 56,412.62. The NSE Nifty declined 33.45 points or 0.20 per cent to close at 17,069.10.
Battling a hostile takeover bid, NDTV's promoter entity RRPR Holding Ltd has sought clarity from Sebi on whether its earlier order bars the conversion of warrants issued to VCPL, now owned by the Adani group. Passing an order on November 27, 2020, the Securities and Exchange Board of India (Sebi) has restrained NDTV founders Radhika and Prannoy Roy to access the securities market for a period of 2 years. As restrictions are still in force, hence a prior written approval from Sebi was required for Vishvapradhan Commercial Private Limited (VCPL) for the exercise of the conversion option on the warrants, NDTV founders had said.
Relaxing its earlier directions, Sebi on Monday removed the securities market ban imposed on eight entities with respect to alleged insider trading activities in the shares of Poonawalla Fincorp Ltd, which was earlier known as Magma Fincorp. Passing a 62-page confirmatory order, the regulator said the eight entities are now barred from buying, selling or dealing in securities of PFL till further orders. The interim order, passed in September 2021, stand modified to the extent of allowing credit and debit of securities in the accounts of above entities except the securities of PFL, according to the regulator.
The BSE gauge Sensex tanked over 1,500 points to crack below the 57,000-mark and the NSE Nifty slipped below the 17,000-level in the opening session on Monday, amid heightened tension over the Russia-Ukraine conflict. The 30-share Sensex nosedived 1,540.85 points to 56,612.07 in early deals and the broader Nifty plummeted 458.20 points to 16,916.55. On the Sensex chart, all 30 shares were trading with steep to moderate losses -- with SBI, Tata Steel and IndusInd Bank tumbling over 4 per cent.
Bajaj Finserv was the top loser in the Sensex pack, shedding 4.57 per cent, followed by Infosys, TCS, Sun Pharma, HCL Tech, HUL, Dr Reddy's, HDFC and Reliance Industries. NSE Nifty plunged 181.40 points to 17,757.00.
The BJP asked voters in Gujarat to do "100 per cent voting for the son of the soil" Modi to take "revenge" in a democratic manner for the "insult"
PowerGrid was the top loser in the Sensex pack, shedding over 4 per cent, followed by Reliance Industries, Asian Paints, Kotak Bank, Tech Mahindra and Bharti Airtel. NSE Nifty tanked 204.95 points to 17,196.70.
Tata Steel was the top gainer in the Sensex pack, rising 3.10 per cent, followed by Bajaj Finance, Bajaj Finserv, Reliance Industries, Asian Paints and Titan.
On the Sensex chart, HCL Tech, HDFC, Tech Mahindra, TCS, RIL, Sun Pharma and SBI were the major gainers, rising as much as 4.3 per cent. NSE Nifty gained 52.45 points to end at 18,055.75.
Bajaj Finance was the top gainer in the Sensex pack, rising around 3 per cent, followed by Infosys, Titan, Reliance Industries and HCL Tech. NSE Nifty rose 27 points to 17,248.40.
A case has been registered against Karvy Stock Broking Ltd promoter C Parthasarathy and others for allegedly cheating ICICI Bank to the tune of Rs 563 crore.
Equity indices overcame a wobbly start to clock gains for the third session on the trot on Tuesday, propped up by banking, metal and energy stocks amid a mixed trend in global markets. A recovery in the rupee also bolstered sentiment, traders said. The 30-share BSE Sensex advanced 246.47 points or 0.45 per cent to settle at 54,767.62 after starting the trade on a weak note. In a volatile session, the benchmark hit a high of 54,817.52 and a low of 54,232.82 during the day.
Homegrown auto major Tata Motors on Monday said it will launch its mini SUV Punch in the ongoing festive season. Punch is based on the H2X concept, which Tata Motors had showcased at the Auto Expo 2020. It will be positioned below the company's compact SUV Nexon and is expected to hit the market around Diwali this year.
CURVV, currently in its production-ready avatar, will first be made available as an electric vehicle, to be followed by its internal combustion engine counterpart.
Domestic macroeconomic data, RBI policy and developments related to the Russia-Ukraine war would be major driving factors for the stock market this week, analysts said. Moreover, FPI investment and trends in crude oil would also influence the trading sentiment, they added. "This week, the RBI credit policy will be a critical factor for Indian markets.
Paring its early gains, benchmark BSE Sensex fell by 304 points on Wednesday as investors booked profit after recent gains amid concerns over inflation and supply constraints. Despite a firm start, the 30-share BSE barometer declined by 304.48 points or 0.53 per cent to settle at 57,684.82. During the day, it tanked 420.71 points or 0.72 per cent to 57,568.59.
Benchmark stock indices Sensex and Nifty rebounded from early lows to close over 1 per cent higher on Tuesday, helped by heavy buying in index heavyweight Reliance Industries, Infosys and TCS amid gains in global equities. The 30-share BSE Sensex closed up by 696.81 points or 1.22 per cent at 57,989.30. It touched a high of 58,052.87 and a low of 56,930.30 in intra-day trade.
Benchmark equity indices Sensex and Nifty pared their early gains to close nearly 1 per cent lower on Monday as surging oil prices played spoilsport amid prolonged Russia-Ukraine war. The 30-share Sensex plunged by 571.44 points or 0.99 per cent to settle at 57,292.49. During the day, it tanked 634.85 points or 1.09 per cent to 57,229.08. The broader NSE Nifty declined by 169.45 points or 0.98 per cent to finish at 17,117.60. Among Sensex constituents, Power Grid, Asian Paints, UltraTech Cement, Nestle, Hindustan Unilever Limited and HCL Technologies were among the major laggards.
ICICI Bank was the top gainer in the Sensex pack, soaring nearly 11 per cent, followed by Axis Bank, Dr Reddy's, SBI, M&M and Tech Mahindra. NSE Nifty advanced 10.50 points to 18,125.40.
Reliance Jio retained its top position with the highest average data download speed of 21.9 megabit per second among 4G service providers in October, according to the latest data published by telecom regulator Trai. However, Bharti Airtel and Vodafone Idea network have been continuously recording an increase in data download speed thereby reducing the gap with the Jio network. After a marginal dip in 4G data download speed, the Jio network in October resumed the speed level of 21.9 mbps it had recorded in June, while Airtel and Vodafone Idea (VIL) have registered close to two and half times jump in data download speed on their network.
UltraTech Cement was the top gainer in the Sensex pack, surging over 3 per cent, followed by L&T, Dr Reddy's, Bajaj Finserv, Sun Pharma, TCS and Kotak Bank. NSE Nifty gained 68.30 points to finish at a record 16,705.20.
Equity benchmark Sensex rallied 936 points on Monday, helped by heavy buying in banking and IT counters along with decline in oil prices amid hopes of headway in renewed diplomatic talks between Russia and Ukraine. A fresh round of talks is expected on Monday between Ukrainian and Russian officials. Rising for the fifth straight session, the BSE Sensex jumped 935.72 points or 1.68 per cent to settle at 56,486.02.
