Business


Exxaro Tiles' Rs 161 crore IPO consisted of fresh issue of Rs 134.23 crore and a market of Rs 26.86 crore ... Exxaro Tiles shares opened for trading at Rs 126. Exxaro Tiles shares opened for trading at Rs 126, marking a premium of 5 per cent from concern price of Rs 120 per share. Exxaro Tiles shares rose as much as 10.25 per cent from the problem cost to strike an intraday high of Rs 132.30. Exxaro Tiles shares were in high need throughout the three-day shares sale through initial public offering which ended on August 6. The IPO was subscribed 22.68 times in which the part booked for Certified Institutional Purchasers was subscribed 17.67 times and portion for Retail Individual Investors was subscribed 40 times.Exxaro Tiles' Rs 161 crore IPO comprised of fresh problem of Rs 134.23 crore and an offer for sale of Rs 26.86 crore. The company sold shares in the rate band of Rs 118-120 per share.Exxaro Tiles was integrated in 2008 and is associated with the marketing and manufacturing of vitrified tiles. The company manufactures double charge vitrified tiles (double layer pigment) as well as glazed vitrified tiles made from ceramic materials such as quartz, clay, and feldspar.Exxaro Tiles' item portfolio consists of more than 1000 various styles of tiles in 6 sizes. Galaxy Series, Topaz Series, and High Gloss Series are a few of the reputable products of the firm. The business also supplies its items to big infrastructure tasks such as academic, hotels, universities, government, medical facilities, among others.As of 10:47 am, Exxaro Tiles shares traded 6.54 per cent higher from problem price at Rs 127.85, surpassing the Sensex which was trading on a flat note.
Details
Category: Business

Write comment (94 Comments)


Gas and Diesel Price Today in India: Fuel rates stayed unchanged in all the 4 metros for the 29th consecutive day on Sunday, August 15, 2021 ... Gas and Diesel Rate Today: Fuel prices stayed unchanged in all four metrosPetrol, Diesel Rate Today: Fuel costs stayed the same in all the four metros for the 29th successive day on Sunday, August 15, 2021. Fuel costs, which were minimized in Chennai on Saturday, likewise stayed static on Rs 99.47 per litre, hence making the fuel to cost the cheapest amongst all the 4 metros.However, the fuel rates stayed the same in the other city cities of the nation. In the nationwide capital, fuel rates were constant at Rs 101.84 per litre and diesel rates were the same at Rs 89.87 per litre. In Mumbai, gas prices stood at Rs 107.83 per litre, while diesel is retailed at Rs 97.45 per litre. (Also Read: How To Check Newest Petrol And Diesel Rates In Your City). Among the four city cities, fuel and diesel rates are the highest in Mumbai, according to the state-run oil refiner. Fuel rates vary across the states due to value-added tax (VAT). Here are the fuel and diesel price throughout the city cities: State-run oil refiners such as Indian Oil, Bharat Petroleum and Hindustan Petroleum modify fuel rates on a daily basis, considering the petroleum costs in global markets and the rupee-dollar currency exchange rate. Any modifications in gas, diesel prices are executed with result from 6 am each day.
Details
Category: Business

Write comment (94 Comments)


India's greatest gas importer Petronet LNG said some of its consumers have actually deferred imports of area LPG due to high rates, which have made products under long-term deals more appealing ... India intends to raise the share of gas in its energy mix to 15 per cent by 2030The country's most significant gas importer Petronet LNG said on Saturday stated some of its clients have actually postponed imports of area melted gas (LNG) due to high prices, which have actually made materials under long-lasting offers more appealing. Some individuals are tapering purchases and rescheduling freights, A.K. Singh, managing director of Petronet LNG said at a press conference. High spot LNG costs are not sustainable and India will 'definitely' sign long term offers, he said.Petronet has an offer to purchase 7.5 million tonnes per year (mtpa) of LNG from Qatar and 1.44 mtpa from Exxon's Gorgon project in Australia.Asian spot LNG costs are hovering at about $16 per million British thermal systems, while products under long-term offers are costing about $10/mmBtu, he stated. He said the Indian power sector lowers LNG consumptions if costs rise about $10/mmBtu. India intends to raise the share of natural gas in its energy mix to 15 percent by 2030 from the current 6.2 per cent to cut its carbon footprint. The nation also prepares to use of hydrogen in some sectors. Singh said in the short-run hydrogen usage will not impact LNG demand. Today, the cost of hydrogen production is very high and likewise transportation and distribution is an obstacle. it is an emerging fuel whereas LNG is a recognized fuel, he stated. India has actually enabled use of the incredibly cooled gas in transport to cut using diesel.Singh, whose company aims to establish 1,000 LNG giving stations in 4-5 years, hoped India would have the ability to imitate China's model, where its huge truck fleet is migrating to LNG from diesel.
Details
Category: Business

Write comment (98 Comments)


Windlas Biotech's Rs 401.5 crore IPO consisted of a fresh problem of Rs 165 crore and a market worth Rs 236.5 crore ... Windlas Biotech shares opened for trading at Rs 437. Windlas Biotech shares made a weak debut on stock market on Monday as the stock opened for trading at Rs 437 on the National Stock Market (NSE), marking a discount rate of 5 percent from issue cost of Rs 460. Windlas Biotech shares remained in high demand in the three-day share sale by means of initial public offering (IPO) which ended on August 6. The IPO was subscribed 22 times in which the part booked for Certified Institutional Buyers was subscribed 24.4 times and part for Retail Person Investors was subscribed 24.27 times.Windlas Biotech's Rs 401.5 crore IPO comprised a fresh issue of Rs 165 crore and a sell worth Rs 236.5 crore. The leading pharmaceutical company sold shares in the price band of Rs 448 to Rs 460 per equity share.Windlass Biotech sought to use profits from IPO to purchase the devices needed for the capacity expansion of its existing center at Dehradun Plant IV. It also looked for to fund the incremental working capital requirements of the company, repay its loanings, and for general corporate purposes.Windlas Biotech is among the leading companies in the pharmaceutical formulations contract development and manufacturing organizations (CDMO) sector in the nation. The company offers a series of CDMO services such as licensing, item discovery to product development, and industrial production of generic items consisting of complicated generics.The company has a strong focus on the chronic healing category and is a leading market player in the domestic pharmaceutical solution CDMO segment.As of 10:23 am, Windlas Biotech shares traded 7.5 percent lower from concern price at Rs 425.70. The stock fell as much as 12 per cent to strike an intraday low of Rs 407.
Details
Category: Business

Write comment (95 Comments)


All deals under the crypto market are managed and governed by the crypto community itself. Also deals can not be reversed ... It is important to tread very carefully while buying cryptocurrenciesCryptocurrency is a reasonably brand-new principle in India and transacting in it is not precisely common knowledge. Yet individuals have been getting on to the crypto bandwagon, generally since of excellent returns which it guarantees.Unlike trading in shares and debentures, which is governed by bodies like the Reserve Bank of India and Securities and Exchange Board of India, that protect the interest of investors, handling cryptocurrency is devoid of any 3rd party control.All deals and operations under the crypto market are controlled and governed by the crypto community itself. Also while rois in cryptocurrencies are high, the marketplace is extremely unstable and transactions once started, can not be reversed.Therefore prior to putting in your cash in the crypto market, do go through the following pointers: It is essential to first choose a trading platform or the best crypto exchange. A crypto exchange is just like the stock market. There are a number of crypto trading platforms in India like WazirX, Coin DCX and CoinSwitch Kuber among others. A first time investor can pick from any of these to begin crypto trading.Once a trading platform has actually been recognized, an investor needs to upload all the required documents online on the exchange to finish the KYC (understand your consumer) process.After the KYC procedure is completed and all the required documents are confirmed by the worried crypto exchange, a financier can start selling cryptocurrency. Crypto exchanges work 24 hr round the clock and don't have opening or closing hours like normal stock exchanges.An investor can either store the crypto currency in a digital wallet or can withdraw it in the form of money.To begin with, one cryptocurrency needs to be picked at a time as the market is quite unstable and it is important to tread with caution before broadening one's portfolio.Adhering to experts' viewpoints is extremely essential before broadening one's investment in cryptocurrency. One should constantly begin with small financial investments and study the market thoroughly rather of blindly following anyone's advise.
Details
Category: Business

Write comment (95 Comments)


The cryptocurrency market has been unstable from the start however the last couple of months have actually been particularly a wild flight ...
Details
Category: Business

Write comment (98 Comments)


Krsnaa Diagnostics' shares listed at a premium of 7 per cent at Rs 1,025 on the BSE and a premium of over 5 percent at Rs 1,005 on the NSE, compared to the problem rate of 954 per share ...
Details
Category: Business

Write comment (91 Comments)


US Treasury Department is set to clarify that just cryptocurrency companies it thinks about brokers will require to abide by IRS reporting requirements ... United States Treasury Department is trying to quell fears on particular provisions of facilities billThe US Treasury Department is set to clarify that just cryptocurrency business it considers brokers will need to abide by proposed Internal Revenue Service reporting requirements, aiming to stop concerns over a provision in the bipartisan facilities bill passed by the Senate.Other firms key to the nearly $2 trillion crypto market - from developers and miners to software and hardware companies - won't have any brand-new requirements, so long as they don't also act as brokers, according to a Treasury official. The Treasury's assistance won't grant blanket exemptions based on how companies determine themselves and rather will focus on whether a company's activities certify it as a broker under the tax code, the official said on condition of anonymity to talk about internal deliberations.The assistance, which could be revealed as quickly as next week, is an effort to deal with issues in the cryptocurrency market that the $550 billion facilities expense would require a host of companies with ties to digital properties to report information to the Irs that they do not have. The tax provision, estimated to raise $28 billion over a years, was included in the legislation as a way to help spend for brand-new investments in roads and bridges.The Treasury's instruction is crucial since lawmakers who wish to modify the costs's language in your home are not likely to prosper, considering that modifying the crypto area could open the whole legislation to extra revisions. House Speaker Nancy Pelosi has stated she'll raise the bill for a vote when President Joe Biden's $3.5 trillion social spending and tax plan is also ready for consideration, which could be months from now.The Senate-passed costs has actually caused significant heartburn in the cryptocurrency world, with participants stating Congress does not comprehend the innovation well enough to regulate it.Senator Rob Portman, the Ohio Republican politician who prepared that part of the expense, stated on the Senate floor after days of debate over the concern that he thinks the legislation is clear, however added that miners, entities who confirm transactions and software designers for digital wallets need to not go through the brand-new tax rules.Crypto market players and advocates objected to what they called excessively unclear language, stressing it could subject a lot of companies to difficult reporting requirements. The proposed law would expand the meaning of broker in the tax code to consist of anybody routinely supplying any service effectuating transfers of digital assets. A bipartisan group of senators sought to pass a last-minute amendment to more directly target the new guidelines, however it was ultimately blocked with procedural moves.The Treasury official stated some of the market's issues were valid however that much of the lobbying was focused on restricting the Treasury Department's authority to gather genuine tax info. The department isn't seeking to pursue organizations who don't have deal information, the official said.The Treasury guidance would give more clarity about how it would apply the definition of a broker to entities that transfer digital properties on behalf of another individual. The number of business ultimately impacted by the new reporting guidelines will depend on how aggressively the Internal Revenue Service carries out the Treasury guidance.The effort is likewise part of a broader push by the Treasury Department to punish tax cheats. Internal Revenue Service Commissioner Chuck Rettig has actually stated tax evasion through using virtual currency is a crucial contributor to the growing gap in between what's owed in taxes and what the IRS actually collects.In addition, more policy is likely coming for the cryptocurrency community with popular lawmakers, including Senator Elizabeth Warren, and regulators like Securities and Exchange Commission Chairman Gary Gensler both eager to attend to the emerging technology.Settling DownSome of the market's worst worries over the Senate costs may prove overblown. I do not believe people will see much. Did everything pass away in crypto in the U.S. when Coinbase started 1099s a couple of years ago? William Quigley, the co-founder of stablecoin Tether and blockchain platform WAX, describing when the largest cryptocurrency exchange began releasing IRS types in 2017. Those worries, however, I think have actually started to calm down a bit, he stated. I believe the Internal Revenue Service is going to take note of what the intent was that was expressed by these senators. The new reporting guidelines, if signed into law, won't go into result until 2023, offering the government and cryptocurrency business time to update their systems to send out the information recommended in the law. It also provides the market time to increase lobbying efforts. The crypto community got a strong wakeup call that it needs to highlight the advantages instead of let Washington dictate top-down, stated James Creech, a tax lawyer who concentrates on crypto. When you get identified as the source of the tax gap, you likewise get recognized as something that needs to be cracked down upon.
Details
Category: Business

Write comment (92 Comments)

Petrol and Diesel Price Today in India: Petrol prices were dropped to Rs 99.47 per litre in Chennai on Saturday, while fuel rates in other three metro cities remained unchanged for the 28th straight......
Details
Category: Business

Write comment (99 Comments)

MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.2 per cent, nudging back toward the lows for the year touched last month....
Details
Category: Business

Write comment (91 Comments)


Bitcoin rose 7.07 percent to $47,587.38 at 2200 GMT on Friday, including $3,142.93 to its previous close ... Bitcoin surged 7.07 per centto $47,587.38 on Friday, adding $3,142.93 to its previous closeBitcoin rose 7.07 per cent to $47,587.38 at 2200 GMT on Friday, adding $3,142.93 to its previous close.Bitcoin, the world's biggest and best-known cryptocurrency, is up 71.6% from the year's low of $27,734 on January 4. Ether, the coin linked to the ethereum blockchain network, rose 7.86% to $3,284.18 on Friday, including $243.55 to its previous close.
Details
Category: Business

Write comment (99 Comments)


Burger King Q1 Results: Hamburger King reported a net loss of Rs 44.35 crore in the June quarter, compared to a loss of Rs 80.45 crore in the corresponding quarter in 2015 ... Burger King India's income from operations stood at Rs 149 croreBurger King India revealed its April-June quarter results for the financial year 2021-22, reporting a bottom line of Rs 44.35 crore, compared to a loss of Rs 80.45 crore in the corresponding quarter last year. The business's net loss narrowed in the very first quarter of the existing financial on account of soft sales in 2015 due to the across the country lockdown to contain the spread of the COVID-19 pandemic. Hamburger King India's revenue from operations or sales in the June quarter stood at Rs 149 crore, compared to Rs 38.49 crore in the corresponding period last year, marking a growth of 289 percent year-on-year. In the June quarter, Hamburger King India introduced a 'stunner menu' with a concentrate on the worth and range with different taste profiles and food formats. Its biggest variety in worth menu covers 11 products including burgers, covers, rice, volcano, according to a regulative filing by the business to the stock market today.Despite localised lockdowns during the June quarter amidst the 2nd wave of the pandemic, Hamburger King India handled to open five new shops to take its shop count to 270. Hamburger King India was noted on the bourses on December 14, 2020. The quick-service dining establishment chain attained a strong market launching as its shares were listed at 115.35 on the BSE, a 92.25 per cent premium over the concern cost of 60. Burger King India is the nationwide master franchisee of the Burger King brand name in the nation and has special rights to develop, develop, run and franchise Burger King branded restaurants throughout India.On Friday, August 13, shares of Hamburger King India settled 0.96 per cent lower at Rs 170.30 apiece on the BSE.
Details
Category: Business

Write comment (95 Comments)


Devyani International shares: The shares of the fast-food chain operator opened higher by 56 per cent at Rs 141 on the BSE and Rs 140.90 on the NSE, as versus concern cost of Rs 90 per share ... Devyani International IPO: At 10:05 am, the shares were trading at Rs 130.85, up 45.83 percent on BSEDevyani International has made a strong debut on the bourses. The shares of the fast-food chain operator opened higher by 56 per cent at Rs 141 on the BSE and Rs 140.90 on the NSE, as against concern cost of Rs 90 per share. At 10:05 am, the shares of Devyani International were trading off the opening highs at Rs 130.85, higher by 45.83 percent on the BSE and at Rs 131.75, up 46 per cent on the NSE.The Rs 1,838-crore initial public offering (IPO), which was open between August 4 and August 6, was subscribed as much as 116.71 times. The certified institutional buyers scheduled part was subscribed 95.27 times, non-institutional investors section was subscribed 213.06 times and the portion scheduled for retail financiers brought in membership of 39.52 times. (Examine the allocation status here: https://www.TheIndianSubcontinent.com/business/how-to-check-allotment-status-of-devyani-international-ipo-2507237)The IPO comprised a fresh issue of Rs 440 crore and an offer for sale of Rs 1,398 crore by existing investors.Incorporated in 1991, Devyani International is led by Ravi Kant Jaipuria, promoter of RJ Corp and Virag Joshi, President and CEO. It is the biggest franchisee of Yum Brands in India and operates quick service restaurant (QSR) brands such as Pizza Hut and KFC. It runs 297 Pizza Hut shops, 264 KFC stores and 44 Costa Coffee throughout India.Devyani International's noted peers consist of Jubilant FoodWorks, Westlife Development and Burger King India.Meanwhile, Windlas Biotech, Exxaro Tiles and Krsnaa Diagnostics have actually also listed on the bourses today.
Details
Category: Business

Write comment (92 Comments)


Intel Corp on Friday revealed a stake worth less than a million dollars in United States cryptocurrency exchange Coinbase Global Inc. ...
Details
Category: Business

Write comment (91 Comments)


Trade Deficit Data in July 2021: Imports in June also increased by 62.99 percent to $46.40 billion, driven by oil and gold, leading to a trade deficit of $10.9 billion ...
Details
Category: Business

Write comment (91 Comments)


The relocations higher came even after the cryptocurrency market failed to win a modification to crypto tax reporting guidelines in a U.S. infrastructure costs ...
Details
Category: Business

Write comment (98 Comments)

ONGC has signed a memorandum of understanding with the country's top utility NTPC Ltd to study the setting up of offshore wind and other renewable energy projects in India and overseas....
Details
Category: Business

Write comment (99 Comments)


Rupee Vs Dollar Rate Today: At the interbank foreign exchangemarket, the domestic system opened weaker at 74.27 versus the dollar and registered an intra day high of 74.24 ... Rupee Vs Dollar Today: The rupee settled at 74.24 versus the dollarSnapping from its positive session registered yesterday, the rupee reversed its intra-day losses to settle nearly flat against the United States dollar on Friday, August 13, at 74.24, tracking a strong rally in domestic equities. A weaker American currency versus its significant rivals and lower petroleum rates also supported the local system to recuperate from early losses. At the interbank forex market, the domestic system opened weaker at 74.27 against the dollar and signed up an intra day high of 74.24. In an early trade session, the domestic unit declined three paise to 74.28 versus the greenback. It saw an intra day low of 74.32 throughout the session and remained in the negative area for most of the session.However, the regional system recovered all its losses towards the fag-end of the session. The regional unit closed at 74.24 versus the dollar, registering a gain of one paisa, versus its previous close. On the other hand, the dollar index, which determines the greenback's strength versus a basket of six currencies, declined 0.14 per cent to 92.91. The rupee had an unstable session throughout the session as it primarily tracked patterns in domestic equities. What experts say: Mr Amit Pabari, MD, CR Forex: Globally, the safe paradise dollar stays hovering near 92.95 levels as economic information revealed a third successive decrease in weekly unemployed claims, which added to indications of consistent and recovery labor market recovery. Also, U.S. manufacturer rates posted their biggest boost revealing signs of continuing inflationary pressures. Domestically, financial data revealed India's list price inflation rate reduced to 5.59 per cent in July 2021, from 6.26 percent in the previous month while Commercial production in India increased 13.6 per cent. This has reduced issues of an instant shift of policy position by the central bank. For the rupee, inflows on one side and RBI's buying routine on the other side have pulled the set in a narrow range of 74.10-74.50 levels. Kshitij Purohit, Lead International - & Commodities at CapitalVia Global Research Study Limited: USD/INR extends bounce off weekly low to 74.26, up 0.17 per cent intraday, heading into Thursday's European session. In doing so, the rupee (INR) pair prints everyday gain for the first time in 4 days throughout a peaceful day filled with combined catalysts and a light calendar. The INR is being weighed down by cautious belief ahead of Indian inflation and industrial output reports. Domestic Equity Markets Today: Closing over the 55,000-mark for the first time, the BSE Sensex rose as much as 593.31 points or 1.08 percent to an all-time high of 55,437.29. The wider NSE Nifty breached the 16,500-level, advancing 164.70 points or 1.01 per cent to strike a brand-new closing peak of 16,529.10. It surged to a record of 16,543.60 during the day. Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities Throughout the week, Indian markets bore in mind of ongoing Q1FY22 earning prints, IIP, and CPI data. Aggregate Q1FY22 net earnings for the Nifty-50 Index is down 3.7 per cent versus expectations. The Nifty 50 was at 16,500 on August 13, 2021 increasing by 1.6 per cent during the week, while the Sensex was at 55,350 increasing 1.98 percent throughout the week. Small - & midcap indices underperformed throughout the week with losses of 1.67 per cent and 1.17 per cent respectively.Going forward, markets would remain buoyant on the back of US economic recovery, bullish product prices, the speed of vaccination procedure in India, unlock measures by various states, strong GST collections, monsoon development Pan India, the accommodative stance of the RBI, and consistency of reforms from the main government. Dr. Joseph Thomas, Head of Research Study, Emkay Wealth Management: The equity market rally raved through the frontline indexes and the major sectors, amid the optimism on future earnings and the continuation soft cash policy by the reserve bank. The present week saw the Nifty and Sensex touching all-time highs, inviting even those on the side-lines to take part. The brilliant sunshine of faster financial recovery after a more or less normal monsoon do far, and the sensation of having included the pandemic to a big degree have all added to the increase of the markets.However, as the macro data on development, employment and rates in the US start flowing in, indicating a surge in the US economy, the after-effects in the form of possible early tapering, may restrict the upward trajectory of the marketplaces. According to exchange information, the foreign institutional financiers were net sellers in the capital market on August 12 as they unloaded shares worth Rs 212.11 crore. Brent unrefined futures, the international oil criteria, fell 0.13 percent to $ 71.22 per barrel.
Details
Category: Business

Write comment (98 Comments)


Devyani International will be in focus as it will list its shares on stock exchange later in the day ...
Details
Category: Business

Write comment (93 Comments)

IRFC Q1 Results: The company's revenue from operations in the June quarter stood at Rs4581.61 crore, compared to Rs3669.22 crore in the corresponding period last year...
Details
Category: Business

Write comment (96 Comments)


Adi Godrej will step down as Chairman from the board of directors at Godrej Industries. Nadir Godrej, who is currently Managing Director, will take control of as the new Chairman and Handling Director ... Nadir Godrej will take control of as Chairman of Godrej IndustriesVeteran industrialist Adi Godrej will step down as Chairman from the board of directors at varied conglomerate Godrej Industries.He will continue to function as Chairman of the Godrej Group and Chairman Emeritus of Godrej Industries, the business stated on Friday.Nadir Godrej, who is currently Handling Director of Godrej Industries, will take control of as the new Chairman and Handling Director. It has actually been an opportunity to serve Godrej Industries for over four years, throughout which we have actually provided strong results and transformed our company, said Adi Godrej. I am extremely positive that our finest years lead us, and I anticipate Nadir and our group achieving our amazing aspirations. Nadir Godrej stated: On behalf of our team at Godrej Industries and our board, I want to thank our Chairman for his vision, values and extraordinary leadership that has guided and shaped our business. The management group is committed to building forward on these foundations, continuing to serve individuals and neighborhoods, and developing long-term worth for all stakeholders, he added.Adi Godrej has actually served at the helm of several trade and commercial bodies. He has likewise been President of the Confederation of Indian Industry (CII). Godrej Industries is among the Godrej Group's holding business with interests in consumer goods, property, agriculture and gourmet retail through subsidiary and associate companies throughout 18 nations.
Details
Category: Business

Write comment (94 Comments)


ONGC reported a decline in net revenue to Rs 4,334.8 crore in the quarter ended June 2021 from Rs 6,734 crore in the same quarter last year ...
Details
Category: Business

Write comment (96 Comments)

A variety of investment approaches have emerged, ranging from impact investing, which aims to create social goods, to ethical investing, which propagates exclusive investment in things that support......
Details
Category: Business

Write comment (100 Comments)

Sovereign Gold Bond Scheme 2021-22: Subscribers can also earn interest and avail additional returns on their investment in gold bonds, the current series of which is open till today...
Details
Category: Business

Write comment (93 Comments)

PM Kisan scheme saw 61,04,877 failed transactions between February 1, 2019 and June 30, 2021. Of these, 34 per cent transactions were reverted back....
Details
Category: Business

Write comment (95 Comments)


The spread between Bitcoin futures and its area rate has actually shriveled relative to February, when the cryptocurrency remained in the midst of a rally that eventually reached an all-time high ...
Details
Category: Business

Write comment (90 Comments)


The Sensex jumped as much as 644 indicate hit record high of 55,487.79 and Nifty 50 index touched an all-time high of 16,543.60 ... Market sentiment got an increase from pick up in production activity in June.The equity benchmarks produced fresh record highs on Friday, wherein the 30-share Sensex moved above its essential mental level of 55,000 and Nifty 50 index scaled 16,500. The rally was led by purchasing interest in blue-chip shares such as Reliance Industries, Tata Consultancy Services, HDFC Bank, Infosys, HDFC and Larsen - & Toubro. The Sensex leapt as much as 644 points in intra-day trading to hit a record high of 55,487.79 and Nifty 50 index touched an all-time high of 16,543.60. The market belief received a boost from a pick-up in production activity in June and dip in retail inflation in July, analysts said.The Sensex closed at an all-time high of 55,437, up 593 points, and Nifty 50 index increased 165 points to settle at record high of 16,529. The domestic sentiment stays positive as the commercial output data has actually revealed indications of healing in the production sector, leading to more buying in the market. Manufacturing data is still at the pre-Covid levels. But if India is able to avoid the third wave, we will see these data surpassing pre-covid levels. Retail inflation has actually likewise begun to reduce, which is another positive sign for the market, Gaurav Garg, head of research study at CapitalVia Global Research said.Ten of 15 sector determines assembled by the National Stock Exchange ended higher, led by the Nifty IT index's 1.35 percent gain. FMCG, Financial Providers, Bank, Metal, Oil - & Gas and Consumer Durables indices likewise ended higher in series of 0.5-0.8 per cent each.On the other hand, media, pharma, healthcare and car indices ended with an unfavorable bias.Broader markets underperformed their larger peers, with the mid- and small-cap shares seeing selling pressure. The Nifty Midcap 100 index fell 0.3 per cent and Nifty Smallcap 100 index decreased 0.4 per cent.Tata Customer Products was leading Clever gainer; the stock rose 4 per cent to close at Rs 805. TCS advanced 3 percent to strike a record high of Rs 3,456 and with today's rally, the country's largest IT business attained market value of Rs 13 lakh crore.Larsen - & Toubro advanced 2.5 per cent after its arm bagged an order from Technip Energies.HCL Technologies, Tata Steel, Bharti Airtel, Wipro, Reliance Industries, Bajaj Automobile, HDFC Bank, Bharat Petroleum and Infosys also increased 1.4-3 per cent each.On the flipside, Eicher Motors, Dr Reddy's Labs, Power Grid, Cipla, Britannia Industries, IndusInd Bank, Bajaj Financing and HDFC Life were amongst the losers.The overall market breadth was neutral as 1,565 shares ended greater while 1,651 closed lower on the BSE.
Details
Category: Business

Write comment (96 Comments)

From Amazon's hinting at the possibility of embracing Bitcoin to the liquidation of short positions, there could be many reasons behind the rally....
Details
Category: Business

Write comment (93 Comments)


The pilot task on hydrogen blending with natural gas will be the first-of-its-kind in the country and explore viability of decarbonising natural gas grid ...
Details
Category: Business

Write comment (93 Comments)

India enters its 75th year of Independence on August 15 this year. In March 2021, the Government of India announced Amrut Mahotsav a two-year-long nationwide initiative to commemorate the milestone.......
Details
Category: Business

Write comment (94 Comments)