Nilim Daimari
Economists surveyed by Reuters project that India’s consumer price inflation likely moderated to a five-month low of 4.91% in March. Despite this decrease, it remains above the Reserve Bank of India’s medium-term target of 4%, mainly due to persistent food price increases. RBI Governor Shaktikanta Das expressed concerns about food price volatility, emphasizing its impact … Read more
In February, India experienced an unprecedented surge in silver imports, skyrocketing by 260% to achieve a record-breaking high. This remarkable increase was attributed to lower duties, enticing substantial purchases from the United Arab Emirates (UAE), according to both government and industry insiders. Projections indicate that this trend will continue, with imports expected to escalate by … Read more
Shares of Exide Industries and Amara Raja Batteries have soared in the past three sessions, with gains of up to 20%. This surge is attributed to optimistic market sentiment driven by various factors including partnerships, bullish brokerage recommendations, and promising growth prospects within the battery sector. Exide Industries witnessed a 2% increase in its share … Read more
The Nifty Metal index led sectoral gains on April 9, soaring nearly 2% amid a resurgence in global manufacturing activity. Both China and the US witnessed significant upticks in manufacturing, bolstering confidence in metal stocks. In the US, the manufacturing sector expanded for the first time in 18 months, with the ISM reporting a surge … Read more
Tesla CEO Elon Musk emphasized the importance of India embracing electric vehicles (EVs), stating that it’s a natural progression for Tesla to enter the Indian EV market. Musk highlighted India’s status as the most populous nation and stressed the necessity for electric vehicles to align with global standards. He expressed this sentiment during an X … Read more
In a historic move, the Sensex breached the 75,000-mark for the first time since its inception, marking a new milestone in the Indian stock market on Tuesday (April 9). Analysts are optimistic about the continuation of the bullish trend for the next few days, with India’s strong economic prospects and an influx of retail investors … Read more
On April 9, amid the broader market’s record-breaking streak, FMCG stocks bore the brunt of selling pressure, emerging as some of the worst performers. Leading FMCG players like Hindustan Unilever, Colgate, Marico, UBL, Tata Consumer, Godrej Consumer Products, and Britannia witnessed declines of up to 2 percent, juxtaposed against a modest 0.4 percent uptick in … Read more
Godrej Properties Ltd witnessed a notable surge of 8%, hitting a 52-week high of Rs 2,791.80, buoyed by robust booking growth for the March quarter and FY24. This surge underscores investor confidence in the company’s performance and its strategic positioning in the real estate sector. As of 1:28 pm, the company’s shares were trading nearly … Read more
Three leading Indian pharmaceutical companies, Lupin Ltd, Glenmark Pharmaceuticals Ltd, and Natco Pharma Ltd, have commenced recalls of numerous products from the US markets, as disclosed in the latest Enforcement Report by the US Food and Drug Administration (FDA). Lupin’s recall pertains to 26,352 bottles of Rifampin capsules, a vital treatment for various forms of … Read more
Investors are on the edge of their seats as they await the finalization of Bharti Hexacom IPO allotment, scheduled for today, April 8. The allotment status will be available on the registrar’s portal managed by Kfin Technologies Ltd. The IPO, floated by Bharti Airtel’s subsidiary company, garnered substantial interest from both retail and non-institutional investors … Read more
Gold prices surged to new heights on Monday, marking the seventh consecutive session of record peaks. This impressive rally comes amidst robust demand from key central banks in Asia, a trend that analysts believe is offsetting traditional challenges posed by a strengthening U.S. dollar and heightened interest rates. At 1002 GMT, spot gold climbed by … Read more
Oil prices experienced a downward trend on Monday in response to significant developments in the Middle East conflict. The decline followed Israel’s decision to withdraw more troops from Gaza and engage in fresh talks aimed at achieving a potential ceasefire after six months of intense hostilities. Brent crude futures saw a decline of 90 cents, … Read more
The Indian rupee concluded Monday’s trading session on a steady note at 83.31 (provisional) against the US dollar. Despite receiving support from positive domestic equities, the currency’s gains were offset by the strength exhibited by the American currency in the global market. Forex traders noted that while investor sentiments received a boost from the retreat … Read more
In a strategic move aimed at fortifying its financial foundation, Shilpa Medicare’s board has given the nod for a Qualified Institutional Placement (QIP) of equity shares. The company has set a floor price of Rs 477.33 per share for the QIP, signaling its confidence in its valuation and market potential. The regulatory filing also confirms … Read more
In a strategic move aimed at ensuring stability and continuity in its leadership, JPMorgan Chase’s board has underscored the orderly transition of its CEO as a top priority for the bank in the medium term. This emphasis comes 18 years after Jamie Dimon assumed the helm of the largest U.S. bank. Succession planning has become … Read more
In a proactive move to accommodate the democratic process and encourage citizens’ participation in the Lok Sabha elections, the National Stock Exchange (NSE) has officially declared May 20th as a trading holiday for Mumbai. This decision, in line with Section 25 of the Negotiable Instruments Act 1881, reflects the exchange’s commitment to supporting the electoral … Read more
BMW Group India has once again demonstrated its dominance in the luxury automotive segment by achieving its highest-ever first quarter sales figures. In the period from January to March 2024, the esteemed automobile manufacturer delivered an impressive 3,680 units, marking a remarkable 51% increase compared to the same quarter in the previous fiscal year, where … Read more
In a decisive move towards ensuring adherence to regulatory standards, the Reserve Bank of India (RBI) announced on April 8th that it has imposed monetary penalties on five cooperative banks for violations of established rules and guidelines. The banks facing penalties include The Uttarakhand Grameen Bank, Nagar Sahkari Bank, The Raj Laxmi Mahila Urban Co-operative … Read more
Gland Pharma made a significant announcement on Monday, revealing its latest milestone achievement: receiving approval from the US health regulatory body for the marketing of a generic medication tailored for treating breast cancer. In a statement released, Gland Pharma disclosed that it has secured the green light from the US Food and Drug Administration (USFDA) … Read more
Tata Motors announced on April 8th a significant surge in retail sales for Jaguar Land Rover (JLR), with a remarkable 11% year-on-year increase, totaling 114,038 units during the fourth quarter of FY24. This surge was primarily attributed to a ramp-up in production and sustained global demand for JLR vehicles. Comparing the retail sales figures to … Read more