Mumbai, May 16 (IANS) Domestic equity markets witnessed another week of sharp correction, with benchmark indices declining over 2 per cent each amid rising crude oil prices and ongoing geopolitical tensions in West Asia.Nifty declined by 2.2 per cent or 532 points during the week to close at 23,643.5 against the previous Friday’s closing, while Sensex dropped 2.7 per cent or over 2,000 points to end at 75,238.Meanwhile, broader markets remained under heavier pressure, with the mid-cap index fall…
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Amaravati, May 5 (IANS) Andhra Pradesh is positioning itself as a global hub for next-generation manufacturing and digital infrastructure, said state minister Nara Lokesh on Tuesday.He stated that Andhra Pradesh is moving beyond hosting data centres to manufacturing the components that power the global data boom.The minister announced that a foundation stone will be laid on Wednesday for a new chiller manufacturing facility at Sri City.The state government sees this as a significant milestone in…
Mumbai, May 3 (IANS) The combined market valuation of four of India’s top-10 most valued companies surged by Rs 2.20 lakh crore in a holiday-shortened week, driven largely by a sharp rally in heavy-weight stocks.The benchmark Sensex ended the week on a modestly positive note, gaining 249.29 points or 0.32 per cent.Among the top gainers, telecom major Bharti Airtel posted strong gains, with its valuation rising by Rs 43,503.51 crore to Rs 11,49,222.13 crore.IT giant Tata Consultancy Services (T…
Mumbai, April 26 (IANS) The combined market valuation of seven of India’s top-10 most valued companies eroded by over Rs 2 lakh crore last week, with Reliance Industries and Tata Consultancy Services (TCS) emerging as the biggest laggards.The downturn came in line with a bearish trend on Dalal Street, where the Sensex plunged 1,829.33 points, or 2.33 per cent, while the Nifty declined 455.6 points, or 1.87 per cent during the week.Market sentiment remained under pressure after two consecutive …
New Delhi, April 19 (IANS) The combined market valuation of eight of India’s top-10 most valued companies surged by Rs 1.87 lakh crore in a holiday-shortened week.The positive momentum in the broader market saw the Sensex rise by 943.29 points, or 1.21 per cent, while the Nifty advanced 302.95 points, or 1.25 per cent, during the week.Among individual stocks, Bharti Airtel recorded the sharpest increase in valuation, adding Rs 58,831.52 crore to take its total market capitalisation to Rs 11,25…
Ahmedabad, April 13 (IANS) The Ahmedabad Crime Branch has arrested seven people for allegedly operating a sophisticated inter-state fraud involving manipulation of electronic weighbridge systems to cheat companies during scrap transactions, officials said on Monday. According to the Crime Branch, the gang was active across multiple states and committed fraud by tampering with electronic weighing machines used to weigh scrap material.The operation came to light following specific intelligen…
Mumbai, April 12 (IANS) Indian equity markets witnessed a sharp rally last week, lifting the combined market valuation of eight out of the top-10 most valued companies by a massive Rs 4,13,003.23 crore.The gain was led by strong gains in banking heavyweights HDFC Bank and ICICI Bank.The upbeat sentiment in the market was reflected in benchmark indices, with the Sensex surging 4,230.7 points or 5.77 per cent, while the Nifty climbed 1,337.5 points or 5.88 per cent during the week.According to Aji…
New Delhi, April 2 (IANS) The government’s calibrated 8.5 per cent hike in aviation turbine fuel (ATF) prices for domestic airlines may offer short-term relief to oil marketing companies (OMCs), according to analysts.Analysts at global brokerage firm Nomura have estimated that state-owned fuel retailers continue to lose heavily on ATF sales amid a war-driven surge in global oil prices.At current prices, the brokerage has estimated that OMCs are losing around Rs 64 per litre on domestic ATF sales…
New Delhi, April 1 (IANS) India’s diesel exports to Southeast Asia rose to an over seven-year high in March, as demand for the fuel in the region and Australia surged amid the disruption in crude flows from the Middle East. This has filled a crucial gap for Australia because the country is heavily dependent on imported fuel and gets most of its supply from Asia, not from domestic refineries. Australia now meets less than 20 per cent of national fuel demand from its remaining refineries, while …
Mumbai, March 29 (IANS) The combined market valuation of seven of India’s top-10 most valued companies fell sharply by Rs 1.75 lakh crore last week amid global uncertainties and geopolitical tensions.The decline came in a holiday-shortened week when benchmark indices ended lower. The Sensex dropped 949.74 points, or 1.27 per cent, while the Nifty fell 294.9 points, also down 1.27 per cent.Commenting on Nifty technical outlook, experts said that a decisive breakdown below the 22,700–22,500 ra…