From the Sensex basket, Bharti Airtel, Nestle, Maruti, Tata Motors, HCL Technologies, NTPC, Asian Paints and State Bank of India were the major gainers. Sun Pharma, Reliance Industries, Mahindra & Mahindra, JSW Steel, Tech Mahindra and Bajaj Finance were among the laggards.
Paytm, the country's leading fintech player which had to shut its payment bank business following regulatory action, is revisiting its business strategy including partnership with lenders. Also, the company's founder and chief executive officer (CEO) Vijay Shekhar Sharma has decided to oversee the day-to-day operations with all the major verticals reporting directly to him now. "The thing on top of everyone's agenda is getting the core businesses back on track," a person in the know said.
The Los Angeles Lakers kept their title hopes alive with a 103-98 victory over the Boston Celtics on Sunday to trim their NBA Finals deficit to 3-2. Kobe Bryant scored five of his 25 points in the final 2:14 to help extend the Lakers' season and send the best-of-seven series back to Boston for Game Six on Tuesday.
Mihir Shah, the prime accused in the Mumbai BMW hit-and-run case and son of a Shiv Sena politician, has told the police he was driving the car at the time of the crash which killed a woman and injured her husband, officials said on Wednesday citing probe carried out so far.
UBS reduced its Nifty target to 8,600 by December from 9,200.
Bouts of dollar demand from importers put pressure on the rupee
The government constituted board of scam-tainted Satyam Computer Services is looking at reducing the number of senior managers so as to ensure that the IT company is "as viable as possible" for a strategic investor.
For the first time, Amul fresh milk will be available outside India, with the Gujarat Cooperative Milk Marketing Federation (GCMMF) launching four variants of milk in the US market within a week, to cater to Indian diaspora and Asian population. "We have been exporting dairy products for many decades. This is the first time we are launching fresh milk outside India," GCMMF MD Jayen Mehta told PTI. He said "the GCMMF has tied up with 108-year old cooperative organisation Michigan Milk Producers Association (MMPA) to launch fresh milk in the US market."
Anjali quickly decided not to pursue her career in medicine. If she had worked in a government hospital, she would have had to do her fair share of nights and weekends in hospital, which would have been tough when Sachin was back in Bombay between tours. Had she worked in private practice as Dr Anjali Tendulkar, she reckoned she would be consulted for her name rather than her expertise. Anjali is an all-or nothing person and she couldn't have just dabbled in doctoring. Moreover, she wanted to devote herself to keeping her husband in the right frame of mind to play his best cricket. A fascinating excerpt from Annabel Mehta and Georgina Brown's book, My Passage to India.
The global lending agency also said that Brexit has resulted in global economic uncertainty.
Finance Minister Nirmala Sitharaman will keep on the path of fiscal consolidation and opt for narrowing the FY24 fiscal deficit to as low as 5.8 per cent in the upcoming Budget, analysts said on Tuesday. The government may go for a fiscal deficit number which will be far lower than the 6.4 per cent of GDP budgeted for FY23, they said, pegging the Budget figure for the next fiscal in the range of 5.8 - 6 per cent. Given the fact that this will be the last full Budget of the present government, there may be a temptation to make it into an expansionist one.
Glimpses from the lives of Modi look-alikes...
From its lows over the past month, the stock of footwear major Campus Activewear gained 13 per cent to Rs 280.4 a share. The gains came on the back of better than expected operating profit margins in Q4, reduction of debt and expectations of market share improvement. The company expects volume growth, which has thus far missed expectations, to recover going ahead on the back of multiple triggers.
The dollar's strength against other currencies overseas limited the rupee's gain.
'A player cannot declare herself unfit or sick. This has to be certified by the tournament doctor.'
'Opportunity is there in each segment of the market. There is opportunity in affordable and specifically governed by government initiatives as well as for housing for all.'
Increased demand for the American unit from importers weighed on the rupee
She proves that all you need in 2024 is a little of blue, orange and cream.
Finance Minister Nirmala Sitharaman on Tuesday announced income tax relief for the middle class, a Rs 2 lakh crore outlay for job creation schemes over the next five years and a spending splurge for states run by her party's new coalition partners as she unveiled the Modi 3.0 government's first budget after the general elections.
Government-owned Life Insurance Corporation of India (LIC) has seen substantial gains from its investments in Adani group shares, which have experienced a significant recovery over the past year. The value of LIC's stake in Adani group companies surged by 51.6 per cent, or Rs 22,591 crore, reaching Rs 66,388 crore as of Friday's close. This compares to Rs 43,797 crore on May 31 last year, according to stock exchange data.
Among the Sensex firms, Larsen & Toubro, UltraTech Cement, JSW Steel, Titan, Bajaj Finance, Wipro, Tech Mahindra and Nestle were the major laggards. Maruti, Power Grid, Axis Bank, State Bank of India, NTPC, HDFC Bank, ITC and IndusInd Bank were the gainers.
Benchmark equity indices ended marginally higher on Thursday, trimming most of their intra-day gains, as investors turned cautious ahead of the quarterly results of IT behemoths TCS and Infosys later in the day. Announcement of the US inflation data and domestic macroeconomic numbers also forced investors to remain on the sidelines. The 30-share BSE Sensex climbed 63.47 points or 0.09 per cent to settle at 71,721.18.
Lenders fret over stubbornly weak credit growth and still high funding costs.
The NSE Nifty 50 has slipped 3.4 per cent, or 764 points, in the last five trading sessions, after registering a fresh all-time high at 22,794.70 on Friday, May 03, 2024. In the process, the Nifty 50 index is seen quoting close to its 100-DMA (Daily Moving Average) of 21,970 for the second time in less than a month. Earlier on April 19, 2024, the Nifty 50 had tested the 100-DMA support, and then staged a smart rally of 4.7 per cent, or 1,017 points, to hit the new peak of 22,794.70.
Tata Motors has roped in international consultants Roland Berger Strategy Consultants (based in Munich) and KPMG to help its British car brands Jaguar-Land Rover trim costs and help manage cash flow.
Cricket icon Sunil Gavaskar celebrates a magnificent 75th birthday on July 10th. Rediff.com picks 15 facts about Sunil Gavaskar you need to know:
Barnes School, Devlali, is famous for its dal. But everything tastes good in the hill station air and vintage locale.
Among the Sensex firms, Larsen & Toubro, Bharti Airtel, HCL Tech, Tata Motors, Sun Pharma and Tata Steel were the major gainers. On the other hand, Nestle, Asian Paints, Bajaj Finserv, HDFC Bank and Axis Bank were among the laggards.
"We have not laid off anything. The lay-off could happen in future in case the demand further goes down," DLF chairman K P Singh said at an Assocham event in New Delhi. He clarified that as of 'today' DLF has not laid off anybody.
Over the years though, her ability to make us go va va voom in one smouldering swimsuit after another has achieved wild distinction.
State-owned fuel retailers are losing close to Rs 3 per litre on selling diesel while the profit on petrol has trimmed due to recent firming up in international oil prices, industry officials said detailing reasons for continuing to hold retail prices. Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), who control roughly 90 per cent of India's fuel market, 'voluntarily' have not changed petrol, diesel and cooking gas (LPG) prices for almost two years now, resulting in losses when input cost was higher and profits when raw material prices were lower.
The Federal Reserve on Wednesday trimmed US interest rates a quarter percentage point to 45-year lows, citing recent hopeful economic signs as it offered a less potent growth tonic than markets had hoped.\n\n\n\n
China, the biggest foreign holder of US debt has trimmed its portfolio to $1.15 trillion to diversify its foreign reserve portfolio to avoid risks.
The rupee resumed higher at 53.26 per dollar.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
Indian Oil Corporation (IOC) on Tuesday reported halving of its March quarter net profit largely because of losses in the petrochemical business and shrinking margin after it announced a pre-election fuel price cut despite rising input costs. The net profit of Rs 4,837.69 crore in January-March compared to Rs 10,058.69 crore a year back and Rs 8,063.39 crore in the preceding October-December quarter, according to a stock exchange filing by the company.
Ranneeti: Balakot And Beyond veers between intriguing and boring, observes Deepa Gahlot.
The Formula One calendar will be trimmed to 17 Grands Prix next year with Germany and Italy each losing one of their two races.
The Street's optimism on India's largest listed automotive maker by market capitalisation is not misplaced, given the robust wholesale performance in recent months and the strong 2023-24 (FY24) October-December (Q3) results.
