Maruti Suzuki has bolstered its manufacturing capabilities at the Manesar plant with the installation of a new assembly line, capable of producing 100,000 units annually. This addition supplements the production of popular models such as the Ertiga, Brezza, XL6, Ciaz, and WagonR at the Manesar facility. Furthermore, Maruti can leverage this additional assembly line for … Read more
In a development signaling further turbulence for the embattled fintech giant Paytm, Surinder Chawla has tendered his resignation as the Chief Executive Officer of its banking arm, Paytm Payments Bank. Citing “personal reasons,” Chawla’s departure, effective from June 26, was confirmed by the company on Tuesday. However, Paytm refrained from disclosing any details regarding Chawla’s … Read more
In a proactive move to bolster pre-trade risk control measures, the Exchange has announced the implementation of the Limit Price Protection (LPP) Mechanism in the Equity Derivatives segment, effective from April 16, 2024. This change will replace the existing Price Reasonability Check (PRC). The LPP Mechanism will accept limit price orders within specified ranges determined … Read more
Aluwind Architectural, a company specializing in aluminum products, made its market debut on the NSE SME platform on April 9, listing at Rs 45. Contrary to the expectations seen in the grey market, where shares were commanding a premium of Rs 5, the listing of Aluwind Architectural witnessed a flat performance. The grey market facilitates … Read more
In a remarkable debut on the NSE SME platform, Creative Graphics Solutions commenced trading at Rs 175, marking a substantial 106% premium over its issue price of Rs 85. The stock’s strong performance outpaced expectations, with its grey market premium already at 77.65% before listing. The IPO, valued at Rs 54.40 crore, garnered exceptional interest … Read more
A sluggish recovery in lithium prices serves as a stark reminder of the rollercoaster ride experienced by the industry in recent years. Despite efforts to stabilize, prices remain subdued as key players grapple with excess supply saturating the market. While some projects have been affected by the downturn, major producers are doubling down on expansion … Read more
In the final minutes of trading on April 9, a flurry of activity gripped sugar stocks, spurred by reports from Bloomberg hinting at potential government measures to increase the diversion of sugar for ethanol production in India. Among the sugar stocks that experienced notable upward movement, Balrampur Chini Mills surged to Rs 393, marking a … Read more
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