The Nifty 50 concluded another day marked by volatility, closing marginally lower on April 3. Continuing to grapple with resistance levels around 22,500-22,550 since last Thursday, market participants seem to be awaiting the outcome of the Monetary Policy Committee meeting scheduled for April 5. Analysts suggest that a decisive close above 22,550 could propel the … Read more
Vodafone Idea shareholders gave the green light to a fundraise of Rs 20,000 crore on April 3, potentially paving the way for revenue opportunities for multinational telecom equipment vendors like Nokia and Ericsson. Following the announcement, shares of the telecom operator surged over 2 percent to Rs 13.7 per share. However, despite this positive development, … Read more
The shares of GConnect Logitech and Supply Chain entered the stock market arena with a subdued performance on April 3, debuting at Rs 42, which represented a marginal premium of 5 percent over the issue price of Rs 40 on the BSE SME platform. However, this debut fell short of the optimistic estimates prevailing in … Read more
Gensol Engineering’s shares experienced a locked 5 percent upper circuit early on April 3 following the company’s announcement of achieving its highest-ever revenue from operations, surpassing Rs 960 crore. The remarkable growth of over 141 percent from the previous fiscal year’s revenue of Rs 398 crore was disclosed by the company in a press release. … Read more
Shares of JSW Energy experienced a notable uptick of over 2 percent, hitting a 52-week high of Rs 558 on April 3, driven by the company’s strategic decision to raise Rs 5,000 crore through qualified institutional placements (QIP) in one or more tranches. As trading commenced at 09:52 am, JSW Energy shares were valued at … Read more
On April, the National Stock Exchange (NSE) announced a significant adjustment in the lot size for trading derivatives contracts linked to the Nifty 50 index, reducing it by half to 25. Additionally, the lot sizes for two other indexes were also revised as part of the NSE’s periodic review process. The lot size for derivatives … Read more
In its latest South Asia Development Update released on Tuesday, the World Bank announced that the Indian economy is forecasted to expand by 7.5 percent in 2024, marking a revision of its earlier projections for the same period by 1.2 percent. The report highlights a strong growth outlook for South Asia, with an overall regional … Read more
Shares of SRM Contractors, a Jammu & Kashmir-based construction company, marked their market debut on April 3, listing at a 2 percent premium on the National Stock Exchange (NSE) at Rs 215. This listing followed a period of anticipation, with the company’s shares commanding a high grey market premium (GMP) of Rs 95, indicating a … Read more
Cement stocks witnessed a notable uptick on April 2, spurred by reports indicating widespread price hikes implemented by cement companies, averaging between Rs 10-15 per bag across the nation. Leading players such as UltraTech Cement, Shree Cements, Ambuja Cements, ACC, and Dalmia Bharat all recorded gains ranging from one to three percent during trading sessions. … Read more
In the early trading hours of April 3, Ramco Cement’s shares experienced a marginal dip in value despite the company’s significant milestone of commissioning Line II and commencing commercial production at its existing grinding unit located in Haridaspur, within Odisha’s Jajpur district. As of 9:22 am, Ramco Cements was observed trading at Rs 853.50 on … Read more
Sunteck Realty’s stock witnessed a significant uptick during early trading on April 3, buoyed by the news of the company finalizing a long-term lease agreement for its second commercial property in Mumbai. At 9:16 am, Sunteck Realty was trading at Rs 432.00, reflecting a rise of Rs 2.30, or 0.54 percent. In a press release, … Read more
The Confederation of Indian Industry, under the leadership of Sanjiv Bajaj, chairman of CII’s Corporate Governance Council and also the Chairman and Managing Director of Bajaj Finserv, is actively engaged in crafting corporate governance guidelines tailored specifically for family businesses. In a recent event held in Mumbai, Bajaj highlighted the distinctive nature of India’s business … Read more
Aditya Birla Capital experienced a notable uptick of over 9 percent in morning trading on April 2, buoyed by brokerage firm Macquarie’s favorable initiation of coverage on the non-banking financial entity (NBFC). Macquarie’s endorsement, pegging Aditya Birla Capital with an “outperform” rating and a target price of Rs 230, served as a significant catalyst for … Read more
In a remarkable turn of events, Ratan Tata, the iconic figure in Indian business, has embarked on a new chapter at the age of 85 with the launch of his architectural design firm, TATA ArchitecX. This unexpected move comes nearly a decade after Tata’s retirement as chairman of Tata Sons, and signals his return to … Read more
Consumer durables giants like Voltas and Havells India experienced a surge in their stock prices on April 2, propelled by Met Office warnings of an impending heatwave due to extreme weather conditions. Mrutyunjay Mohapatra, Director General of the IMD, indicated that temperatures are anticipated to surpass normal levels across most regions of the country from … Read more
The latest data from HSBC revealed a remarkable upswing in India’s manufacturing sector, as reflected by the Purchasing Managers’ Index (PMI) reaching an impressive 59.1 in March. This marks a significant milestone, representing the sector’s highest reading in 16 years. Released on April 2, the report highlights a robust expansion fueled by notable increases in … Read more
The trajectory of gold prices continues to ascend, with rates in Calcutta inching ever closer to the significant milestone of Rs 70,000 per 10 grams. On Monday, the precious metal reached a notable high of Rs 69,450 in the city, representing a substantial uptick from the Rs 68,750 recorded just two days prior. Similarly, in … Read more
In a significant development, SpiceJet’s shares witnessed a robust surge of over 2% as the airline moves closer to receiving a Q400 aircraft secured from Nordic Aviation Capital (NAC) under a comprehensive settlement agreement reached last year. This agreement, a significant milestone for SpiceJet, effectively resolves all prior liabilities associated with the Q400s leased by … Read more
Indian Renewable Energy Development Agency (IREDA) witnessed a significant 5% surge to hit its upper circuit in trading on April 2, buoyed by robust quarterly business updates. IREDA reported a notable achievement with the highest number of loans sanctioned, totaling Rs 37,354 crore for the financial year ending March 31, 2024. This marked a substantial … Read more
In a recent analysis, Jefferies underscores the gathering momentum in defence company stocks, attributing it to a state of heightened geopolitical crises and India’s sustained emphasis on self-reliance, which have significantly augmented order flows and propelled revenue growth. The brokerage firm has initiated coverage on Hindustan Aeronautics (HAL) and Data Patterns with a ‘buy’ recommendation, … Read more