BUSINESS
Tata Elxsi shares hit all-time high, up over 50% in 2022
Amid volatile trade, shares of IT major Tata Elxsi surged sharply on Monday to hit an all-time high. The sharp rise in share prices come amid reports that the MSCI may include the company in its standard index. The shares touched a high of Rs 9,160 during the day, and closed the session at Rs 9,010, up Rs0 6.8 per cent over the previous close.
Adani Wilmar at 10% upper circuit; shares doubled since listing
Adani Wilmar, a joint venture between Adani Enterprises and Wilmar International, is among the largest FMCG companies in India. The shares of the company have seen substantial rise since the war in Ukraine broke out, as it may hit India's sunflower imports. Russia and Ukraine are the major suppliers of sunflower oil to India. As per reports, Ukraine and Russia account for 70 per cent and 20 per cent sunflower oil imports to India.
Five newly-listed firms with good long-term prospects
The brokerage house sees 25-31 per cent upside in these stocks. Clean Science and Technology is one of the specialty chemical companies which has a strong presence in global markets and it focuses entirely on developing newer technologies which are eco-friendly and cost-competitive. It has a strong customer base that includes manufacturers and distributors in China, Europe, the US, Taiwan, South Korea, Japan as well as in India.
Two-day strike hits banking, postal, other services in northeast
After over a month-long campaign, the striking employees and workers have decided to observe a strike on Monday and Tuesday in support of the their 12-point charter of demands including scrapping of the labour codes, no privatisation of government sector in any form, scrapping of the National Monetisation Pipeline, increased allocation of wages under Mahatma Gandhi National Rural Employment Guarantee Act and regularisation of contract workers.
NSE scam: Chitra Ramkrishna's judicial custody extended till April 11
Special Judge Sanjeev Aggarwal also permitted the Central Bureau of Investigation (CBI) to get Ramkrishna's handwriting specimen on probe-related grounds as the agency stressed need to investigate several digital pieces of evidence. Ramkrishna was arrested earlier this month while Anand Subramanian, the NSE's former Group Operating Officer and her advisor, was arrested in February after questioning.
Equities start week on positive note; Sensex up 231 pts
Sensex gained 0.4 per cent or 231 points at 57,593 points, whereas Nifty settled at 17,222 points, up by 0.4 per cent or 69 points. "While Indian equities showed resilience and bounced back in green following a positive European market. We can expect an ease in this volatility based on the cessation of the war, commodity prices and supply constraints," said Vinod Nair, Head of Research at Geojit Financial Services.
Informal sector unaffected by 2-day strike call: CAIT
The banks are observing the strike on Monday (March 28) and Tuesday (March 29) to protest against the Banking Laws (Amendment) Bill, 2021, and are opposing the privatisation of public sector banks. Apart from banking, the trade unions of telecom, oil, income tax, postal, coal, steel, copper, and insurance sectors might back the strike.
Indian airports expected to become profitable in FY23
"Resumption of international commercial operations would accelerate the traffic recovery. Southeast Asia, Middle East and Europe are expected to be the major destinations driving the demand. The yield per passenger is much higher for the international sector both from aero and non-aero revenues perspective which is a positive for airport operators," said Rajeshwar Burla, Group Head, Corporate Ratings, ICRA.
Normalcy in war, aggressive US Fed stance to ease gold prices: Emkay Wealth
"Except for the UK, the interest rates in the rest of Europe have not been hiked so far, and it is felt that it may be delayed," the wealth management firm said. An aggressive stance by the US Fed is likely to cause some problems as the US dollar yields rise and the currency strengthens. However, the prices of commodities quoted in US dollars is likely to gradually ease.
Potential homebuyers see price rise in real estate over high input costs
The potential buyers are looking for flexible payment plans along with discounts while deciding on making purchases of their dream homes, the survey revealed. Digital real estate platform Housing.com along with leading industry body NAREDCO has conducted a survey of more than 3,000 people to gauge consumer sentiments for the first half of 2022 calendar year.
Don't Miss
Advertisement