Vedanta shares plunged 7% to Rs 410 in Monday’s trade on the BSE after the US dollar reached a record peak against the Indian rupee and other global currencies. The Indian rupee weakened past Rs 87 per US dollar for the first time, following President Trump’s tariff impositions on the country’s largest trading partners, driving … Read more
Metal stocks have been on a roll lately. The Nifty Metal index has been up significantly, with gains of over 50%, in the last one year. ETMarkets spoke to Sonam Srivastava, Founder & CEO of Wright Research, to understand the factors behind the rally and more. Edited excerpts: 1. The Nifty Metal index has been … Read more
India’s largest domestic institutional investor Life Insurance Corporation of India (LIC) has reduced ownership in at least 80 stocks, including 16 PSUs, in the March quarter with the market value of its portfolio surging to Rs 14 lakh crore. LIC was seen cutting stakes in BHEL, SAIL, Coal India, Oil India, Mahanagar Gas, MOIL, SBI, … Read more
Shares of NMDC fell over 4% on Thursday to the day’s low of Rs 197.15 on the NSE after Kotak Institutional Equities warned investors of sharp price cuts and earnings downgrade going ahead. The domestic brokerage trimmed its fair value to Rs 195 from an earlier Rs 205 while retaining a ‘Sell’ view. The valuations … Read more
There are a host of corporate actions scheduled for this week. Natco Pharma, Suprajit Engineering, NMDC, and Jupiter Wagons will trade ex-dividend, while The South Indian Bank‘s rights issue’s ex-date is fixed this week. On Monday, 26th February, Fineotex Chemical (Rs 1.2/share), Gateway Distriparks (Rs 0.75/share), Natco Pharma (Rs 1.25/share), Suprajit Engineering (Rs 1.1/share), and … Read more
BENGALURU – Index provider MSCI raised India‘s weightage in its Global Standard (Emerging Markets) index to a historic high of 18.2% following its February review, and the changes will come into effect after market close on Feb. 29. India’s weightage in the index has nearly doubled since November 2020. The climb can be attributed to … Read more
Mumbai: Shares of metal companies surged on Wednesday as China’s move to prop up its economy is seen boosting demand and prices of metals, but experts remain skeptical of this rally sustaining till there are definitive signs of stronger growth in the world’s second-largest economy.Hindalco Industries, Tata Steel, JSW Steel, Jindal Steel and Power, Steel … Read more
NMDC Ltd, part of the industrial mineral industry, rallied more than 40% in the last 3 months which helped the stock to break out from an Inverted Head and shoulder pattern on the weekly scale. The breakout has opened room for the stock to head towards 200 levels in the next 3 months, suggest experts. … Read more
Bharat Petroleum Corporation. Share Price 348.70 03:59 PM | 12 Oct 2023 6.15(1.79%) Coal India. Share Price 307.20 03:59 PM | 12 Oct 2023 5.35(1.77%) Maruti Suzuki India. Share Price 10580.90 03:55 PM | 12 Oct 2023 168.80(1.62%) NTPC. Share Price 241.60 03:59 PM | 12 Oct 2023 2.91(1.21%) Power Grid Corporation of India. Share … Read more
Indian market is likely to consolidate on Monday tracking muted global cues. The S&P BSE Sensex rose more than 300 points on Friday while the Nifty50 closed just a shade below 20200 levels. India VIX was down by 3.69% from 11.32 to 10.90 levels in the previous trading session. Volatility cooled off in the latter … Read more