Posts tagged Rediff
Exit poll rally: Investors richer by Rs 13.78 lakh cr (03-06-2024)
Investors' wealth jumped Rs 13.78 lakh crore on Monday as the benchmark equity index Sensex hit its lifetime high after exit polls predicted a massive win for the BJP-led NDA in the Lok Sabha polls. The 30-share BSE Sensex jumped 2,777.58 points or 3.75 per cent to hit a record peak of 76,738.89 in early trade. The benchmark finally ended at 76,468.78, registering a sharp rally of 2,507.47 points or 3.39 per cent.
Modi @ 3.0: Sensex races past 76K, Nifty rises 733 pts (03-06-2024)
Larsen and Toubro, Axis Bank, Reliance Industries, UltraTech Cement, Mahindra and Mahindra, IndusInd Bank, ICICI Bank and Tata Steel were the other big gainers. Sun Pharma, HCL Technologies, Asian Paints, Nestle and Infosys were the laggards.
LIC’s Adani group portfolio value surges 51.6% (03-06-2024)
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.
India’s manufacturing sector growth eases in May (03-06-2024)
India's manufacturing sector saw a slower growth rate for the second straight month in May but stayed firmly in expansion mode with global sales increasing to the greatest extent in over 13 years, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 58.8 in April to 57.5 in May, signalling a slower but substantial improvement in the health of the sector. The index had climbed to a 16-year high of 59.1 in March.
‘We will continue to invest in commercial properties’ (03-06-2024)
'A positive momentum in the southern market as far as leasing, absorption, and rentals are concerned.'
‘The pricing pressure will always be there’ (03-06-2024)
'That is a significant milestone for us and something we aspired for.'
Markets all-time high as exit polls predict Modi 3.0 (03-06-2024)
Benchmark equity indices Sensex and Nifty surged nearly 4 per cent in early trade on Monday to hit their fresh all-time high levels after exit polls predicted a massive win for the Bharatiya Janata Party-led National Democratic Alliance in the Lok Sabha polls.
RBI unlikely to cut interest rate on June 7: Experts (02-06-2024)
Reserve Bank of India (RBI) is unlikely to cut the benchmark interest rate at its upcoming monetary policy review meeting, taking place soon after the announcement of the Lok Sabha election results, amid inflation challenges, said experts. The Monetary Policy Committee (MPC) may also refrain from rate cut as economic growth is picking up, notwithstanding the elevated interest rate of 6.5 per cent (repo) prevailing since February 2023. The meeting of the Reserve Bank Governor Shaktikanta Das headed MPC is scheduled for June 5 to 7.
Tolls across highways hiked by 5% (02-06-2024)
Motorists using expressways will have to shell out more from Monday as the National Highways Authority of India (NHAI) has decided to hike tolls across the country by an average of 5 per cent. The annual revision of highway user fee, which is expected to be in the range of average 5 per cent, was earlier to come into effect on April 1. But the hike was deferred due to the Lok Sabha elections.
‘Expect formulations biz to outpace API biz’ (02-06-2024)
'API prices are dragging down margins and impacting our competitive ability.'