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Business News/ Markets / Live Blog/  Sensex Today | Market Close Highlights: Sensex ends up 400pts, Nifty at 22,460; Realty, Metal, PSU Bank, lead gains
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Sensex Today | Market Close Highlights: Sensex ends up 400pts, Nifty at 22,460; Realty, Metal, PSU Bank, lead gains

Sensex Today | Market Close Highlights : Foreign institutional investors (FIIs) net bought shares worth 188.31 crore, while domestic institutional investors (DIIs) purchased 2,691.52 crore worth of stocks on March 28, provisional data from the NSE showed.

Sensex Today | Market Close Highlights : The NSE F&O ban list for April 1 includes Zee Entertainment Enterprises. (Photo: Mint)Premium
Sensex Today | Market Close Highlights : The NSE F&O ban list for April 1 includes Zee Entertainment Enterprises. (Photo: Mint)

Sensex Today | Market Close Highlights : Chinese shares led a rally around most of Asia on Monday amid a broadly optimistic global economic backdrop, but Japanese shares tumbled with the yen pinned near levels that have traders on guard for a currency intervention.

U.S. stock futures also pointed firmly higher following a market holiday on Friday, when the Federal Reserve released data showing their preferred inflation measure indicated price pressures are further easing, bolstering bets for a June interest rate cut.

Expectations for easier U.S. monetary policy lifted gold to a fresh record high, while crude oil remained firm amid a tighter supply-demand picture, with China's economy improving and expectations of OPEC output cuts.

Mainland Chinese blue chips rallied 1.39% as of 0600 GMT, leading regional markets higher after a private survey showed the country's manufacturing activity expanded at the fastest pace in 13 months in March, reinforcing official data on the weekend that showed the first expansion in six months in March.

Singapore's Straits Times Index added 0.35%, and South Korea's Kospi edged up 0.08%.

"Tamed" U.S. inflation "may offer some validation for the Fed to kickstart its rate-cutting process sooner rather than later," said Yeap Jun Rong, a market analyst at IG.

"With Wall Street eyeing another run for a new record high, that may keep the broader risk-on sentiments going."

However, Japan's Nikkei tumbled 1.4% as of the close, weighed down by worries about yen-buying intervention that would hurt exporter profit outlooks and returns for foreign investors.

U.S. S&P 500 futures added 0.33% and tech-focused Nasdaq futures gained 0.54%.

Many markets are closed on Monday for Easter holidays, including Australia and Hong Kong in Asia, and the United Kingdom and Germany.

In currencies, the dollar was unchanged at 151.375 yen, remaining near the centre of its narrow trading range over the past week and a half.

Official warnings of intervention have stepped up since the yen weakened to a 34-year low of 151.975 per dollar last week, and Japanese Finance Minister Shunichi Suzuki repeated on Monday that he won't rule out any options against excessive moves.

Leading cryptocurrency bitcoin was little changed at $69,410, and has traded mostly sideways for the past week.

Spot gold was up 1.2% at $2,258.12 per ounce, after hitting an all-time high of $2,265.49 earlier in the session.

Brent crude rose 29 cents, or 0.3%, to $87.29 a barrel after rising 2.4% last week. U.S. West Texas Intermediate crude was at $83.48 a barrel, up 31 cents, or 0.4%, following a 3.2% gain last week.

01 Apr 2024, 03:39:20 PM IST

Sensex Today Live : Closing Bell

Sensex Today Live : After touching fresh record highs in the early hours of the trading session, Indian benchmark indices shed some of their gains, but still closed higher, following positive cues from global peers.

Nifty, which had opened higher at 22,455.00, climbed to a fresh all time high of 22,529.95, during intraday trades, but gave up some of its gains later. At close, Nifty 50 was at 22,462, up 135.10 points, or 0.61%.

Sensex, which had opened higher at 73,968.62, climbed to a high of 74,254.62 during the day, but gave up some of its gains later. At close, it was up 399.82 points, or 0.54%, at 74,051.17.

JSW Steel, Tata Steel, Ultratech Cement, NTPC, and Larsen & Toubro, were the top gainers in the Sensex at close, while Titan, Nestle India, Bharti Airtel, IndusInd Bank and ITC, were the top losers for the day.

Meanwhile, JSW Steel, Tata Steel, Divi's Lab, Shriram Finance and Adani Ports & SEZ, were the top gainers on the Nifty 50, and Eicher Motors, Titan, Nestle India, LTIMindtree, and Tata Consumer Products, were the top drags on the benchmark index for the day.

The broader market outperformed on Monday, with the BSE MidCap index closing up 1.64%, and the BSE SmallCap index closing up 2.98%.

Meanwhile, across sectors, barring the Auto and FMCG index, which closed down 0.16%, and 0.11%, respectively, all the other indices ended the day in green.

The Bank index closed up 0.96%, while the Financial Services index closed up 1%. The Media, Realty and Metal indices closed up 4.69%, 4.36%, and 3.70%, respectively.

That apart, the Pharma index closed up 1.11%, while Healthcare index closed up 1.07%.

01 Apr 2024, 03:21:01 PM IST

Sensex Today Live : “Coal India’s production grows 10% to 773.6 MTs in FY24; Offtake up 8.5%

Sensex Today Live : Coal India produced 773.6 million tonnes (MTs) of coal in FY24, registering a 10% growth over a high base of 703.2 MTs in FY23. This is the first instance that the company recorded double digit growth in two successive years since its inception. In volume terms the output expanded by 70.4 MTs.

In the previous two financial years, CIL has increased its production by 151 MTs. This was higher by 22.6 MTs than the combined increase of 128.4 MTs achieved in six years from FY16 till FY22. Coal production of 88.6 MTs in March 2024 was the highest ever for any month till date.

While all the coal producing arms of CIL have recorded positive growth, five of them BCCL, CCL, NCL, WCL and MCL have stepped over their respective annual targets for the second consecutive year. Mahanadi Coalfields Limited, the Odisha based CIL subsidiary has emerged as the country’s first coal producing company to have breached 200 MT with production at 206.1 MTs.

Total coal supplies have hit 753.5 MTs during FY 2024 logging 8.5% growth. The 58.8 MT volume increase came over 694.7 MTs of FY 2023.

01 Apr 2024, 03:14:03 PM IST

Sensex Today Live : Sector Indices Heat Map

Sensex Today Live : Barring the Auto and FMCG index, which were down 0.20%, and 0.16%, respectively, all other sector indices were in the green.

The Bank index was up 0.90%, while the Financial Services index was up 0.95%. The Media, Realty and Metal indices were up 4.64%, 4.41%, and 3.67%, respectively.

That apart, the Pharma index was up 1.12%, while Healthcare index was up 1.07%.

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01 Apr 2024, 03:09:39 PM IST

Sensex Today Live : Broader market indices heat map

Sensex Today Live : The broader market outperformed on Monday, with the BSE MidCap index up 1.63%, and the BSE SmallCap index up 2.93%. 

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01 Apr 2024, 03:07:10 PM IST

Sensex Today Live : Gainers and Losers on Nifty

Sensex Today Live : JSW Steel, Tata Steel, Divi's Lab, Shriram Finance and Adani Ports & SEZ, were the top gainers, while Eicher Motors, Titan, Nestle India, Bajaj Auto, and LTIMindtree, were the top drags on the benchmark index. 

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01 Apr 2024, 03:03:49 PM IST

Sensex Today Live : Gainers and Losers on Sensex

Sensex Today Live : JSW Steel, Tata Steel, Ultratech Cement, NTPC, and Larsen & Toubro, were the top gainers in the Sensex, while Titan, Nestle India, Bharti Airtel, IndusInd Bank and ITC, were the top losers. 

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01 Apr 2024, 03:01:29 PM IST

Sensex Today Live : 3 pm Market Update

Sensex Today Live : Indian benchmark indices had climbed down from their highs on Monday, but were still up following strong cues from global markets.

At 3 pm, Sensex was up 352.62 points, or 0.48%, at 74,003.97, and Nifty was up 132.50 points, or 0.59%, at 22,459.40.

01 Apr 2024, 02:49:35 PM IST

Sensex Today Live : Maruti Suzuki India sold 187,196 units in March 2024, compared to 170,071 units in the previous year. Sold more than 2 million units in FY24.

Sensex Today Live : In March 2024, Maruti Suzuki India Limited sold a total of 187,196 units, compared to 170,071 units in the same period last year

Total sales in the month include domestic sales of 156,330 units, sales to other OEM of 4,974 units and exports of 25,892 units.

For the financial year 2023-24, the Company posted its highest ever total sales of 2,135,323 units.

Total sales include highest ever domestic sales of 1,793,644 units and highest ever exports of 283,067 units.

01 Apr 2024, 02:46:14 PM IST

Sensex Today Live : Thyrocare Technologies received tax demand order of ₹51.29 crore

Sensex Today Live : Thyrocare Technologies informed the exchanges today that it has received a tax demand notice of 51.29 crore for AY2017-18.

In an exchange filing, the company said, "Thyrocare Technologies has received rectification order dated March 31, 2024 through online on March 31, 2024 from the Income Tax Department, Mumbai under Section 154 read with Section 143(3) of the Income Tax Act, 1961 (“Rectification Order"). The management of the Company is in the process of evaluating to file an appeal against the said Rectification Order with appropriate authority."

The company added, "In the past, the Company had filed the grievance for refund of excess income tax paid along with interest (total INR 6,66,54,614/-) for the financial year 2016-17 (assessment year 2017-18) under Section 244A of Income Tax Act, 1961. Further, the above contention of the Company was duly considered by the Authority and passed a favourable order dated January 9, 2024.

However, the Authority has vide its Rectification Order dated March 31, 2024 raised the new demand of INR 51,29,15,190/- to the Company under Section 154 read with Section 143(3) of the Income Tax Act, 1961 without considering the Self-assessment Tax, Advance Tax & Regular Tax paid by the Company."

01 Apr 2024, 02:31:09 PM IST

Sensex Today Live : Tata Motors registered total sales of 2,65,090 units in Q4 FY24

Sensex Today Live : Tata Motors Limited sales in the domestic & international market for Q4 FY 2023-24 stood at 2,65,090 vehicles, compared to 2,51,822 units during Q4 FY 2022-23

Total PV Sales in Q4FY24 at 1,55,651 units, up 15% YoY

Total CV Sales in Q4FY24 at 1,09,439 units, down 6% YoY

Domestic sales of MH&ICV in March 2024, was 19,976 units vs 22,437 units in March 2023; In Q4 FY24 it was 50,643 units, compared to 54,435 units in Q4 FY23.

Domestic & International sales for MH&ICV in March 2024, was 20,551 units vs 23,074 units in March 2023; while in Q4 FY24 it stood at 52,186 units, vs 56,059 units in Q4 FY23.

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01 Apr 2024, 02:25:59 PM IST

Sensex Today Live : Bosch Ltd. to get refund of ₹116.38 crore from Income Tax department

Sensex Today Live : Bosch Ltd informed the exchanges today that it has received a refund order from the the Income Tax depart for the assessment year 2013-14.

In an exchange filing, the company said, "we wish to inform you that Bosch Limited has received a refund order under Section 254 of the Income Tax Act, 1961 from the Deputy Commissioner of Income Tax, Government of India for the assessment year 2013- 14 during the quarter ended March 31, 2024. As per the order the Company expects a refund of INR 116.38 crores (including interest)".

01 Apr 2024, 02:12:00 PM IST

Sensex Today Live : Genesys Internationalbags order worth ₹35 crore to adopt Digital Twin in Pune City

Sensex Today Live : Genesys International today announced that it has bagged an order worth 35 crores to develop a digital twin of Pune City.

In an exchange filing, the company said, "Pune city will now adopt the Digital twin map stack of Genesys. The order worth Rs. 35 crs. is unique as it envisages that for the first time in India, a 3D Digital Twin will be seamlessly integrated with a Command and Control Centre, incorporating various IoT sensors. This integration will provide real-time data insights and actionable intelligence to the authorities, enabling them to make informed decisions swiftly and effectively."

01 Apr 2024, 02:02:00 PM IST

Sensex Today Live : 2 pm Market Update

Sensex Today Live : Indian benchmark indices had climbed down from their highs on Monday, but were still up following strong cues from global markets.

At 2 pm, Sensex was up 368.92 points, or 0.50%, at 74,020.27, and Nifty was up 138.25 points, or 0.62%, at 22,465.15.

01 Apr 2024, 01:59:52 PM IST

Sensex Today Live : Q4 results preview: IT sector likely to report muted revenue growth with stable margins; all eyes on FY25 guidance

Sensex Today Live : The financial year 2023-2024 is projected to conclude on a less than robust note for Indian IT services firms, with the results for the March quarter anticipated to reflect restrained growth in the face of persistent challenges.

Tata Consultancy Services (TCS), the nation's premier software services exporter, is set to inaugurate the earnings season for the fourth quarter ending March 2024 on April 12. Infosys will follow with its Q4 results on April 18, and HCL Technologies will disclose its earnings for the March quarter on April 26.

Major IT services entities are forecasted to register only modest revenue growth in Q4FY24, as the ongoing trend of subdued demand persists due to restrained discretionary expenditure and cautious client behavior in the face of a globally uncertain macroeconomic climate. (Read the full story here.)

01 Apr 2024, 01:45:44 PM IST

Sensex Today Live : When the farm sector cooled, construction rode to the rescue

Sensex Today Live : In the financial year ending on 31 March, construction emerged as the saving grace for rural employment, as agricultural output growth faltered due to inconsistent rainfall. Consequently, there was minimal strain on guaranteed rural jobs, which typically serve as a safety net in rural areas when the agricultural sector is in decline, as indicated by official data.

Even with the agricultural sector's slowdown, the average monthly demand for work under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) in FY24 was only 27.72 million people, a figure barely different from the 27.63 million in FY23. (Read the full story here.)

01 Apr 2024, 01:31:15 PM IST

Sensex Today Live : Mid- and small-cap correction likely over, froth cleared: HDFC Securities' Dhiraj Relli

Sensex Today Live : While many are currently advocating for large caps as a safer option, Dhiraj Relli, the MD & CEO of HDFC Securities, argues that the over-speculation has been moderated and the required correction for mid and small caps has largely occurred. He suggests that there might still be room for an additional decline of 5-10%.

In terms of sectors, he anticipates exceptional growth in the industrial sector over the next decade. Furthermore, he believes that if the Bharatiya Janata Party (BJP) secures victory in the general election, the government's emphasis on renewable energy and green infrastructure will persist. (Read the edited excerpts here.)

01 Apr 2024, 01:18:56 PM IST

Sensex Today Live : SBICAPS presents report on cement sector, says cement demand growth is set to outpace GDP growth for a second fiscal running

Sensex Today Live : India is the world’s second largest cement producer; its low per capita consumption and construction impulses offer ample growth headroom

Cement’s association with a high GDP multiplier and employment creation makes it an important sector globally. A high share of the GFCF in the GDP augurs well for cement demand, and the latter’s growth is set to outpace GDP growth for a second straight fiscal in FY24

Key end user industries such as infrastructure and housing are in the middle of a structural boom, indicating this is more than just pre-election fever

The government’s laser focus on infrastructure is long term. Housing is supported by “Housing for All", as also structural trends such as urbanization and premiumisation. Therefore, we reckon that cement demand post-elections will only slightly moderate in FY25, remaining strong in the medium term

Capacity utilization levels to emerge healthier in the medium term as companies have rationalized supply additions geographically and temporally

Operating ratio is expected to rise 6pp between FY23 and FY27 to 75%, as demand grows faster at 8.3% CAGR vs. supply at 5.5% CAGR. It is important to note that cement demand is highly seasonal and thus large players operate close to 100% in peak season, necessitating expansions. The systematically higher utilization levels in North would foster organic capex, while balanced supply-demand amidst strong demand would facilitate inorganic buys in East and Central regions

Bigger players optimize costs better ensuring marked differential in profitability: they are set to expand organically & inorganically

Large players have owned mines, captive power plants, and economies of scale, minimizing costs. This helps them generate generous profits and much of their incremental capex would be funded by internal accruals. Some could also channel their cash into related horizontal expansions. Incremental debt requirement would come from aspirant mid-size players trying to acquire size. The few top players yet to list could explore that option to meet needs

01 Apr 2024, 01:02:02 PM IST

Sensex Today Live : 1 pm Market Update

Sensex Today Live : Indian benchmark indices had climbed down from there highs on Monday, but were still trading up following strong cues from global markets.

At 1 pm, Sensex was up 359.44 points, or 0.49%, at 74,010.79, and Nifty was up 133.65 points, or 0.6%, at 22,460.55.

01 Apr 2024, 12:52:39 PM IST

Sensex Today Live : India Cements shares climb 3% on news of promoters pledging more shares to raise more funds

Sensex Today Live : The company's promoters have been persistently raising debt against their shares, with the most recent borrowing occurring last month as India Cements grapples with working capital deficits. Promoters, led by Managing Director N. Srinivasan, had pledged 45.5% of their shares with banks by the end of December 2023, a significant increase from 16.8% at the end of September 2022. The most recent data on share pledges is yet to be updated on the stock exchanges. EWS Finance and Investment, which holds three-quarters of the 28.42% promoter stake in the company, announced on March 15 that the promoter had raised additional funds by creating new pledges. The exact amount of the new share pledges or the funds raised could not be independently verified by Mint.

01 Apr 2024, 12:41:51 PM IST

Sensex Today Live : Meet the Nifty Next 50 stocks that had a better year than Tata Motors

Sensex Today Live : The Nifty Next 50 index has shone brightly in the financial year 2024.

This index is meticulously crafted to monitor the performance of 50 emerging companies, which are potential candidates to make their way into the Nifty 50 index.

In February 2024, the index experienced a significant surge of 6.68%, outshining all other major indexes. The index has consistently ascended over the past year, demonstrating an impressive growth of 60% in FY2023-2024.

When compared to the Nifty 50's leading performer, Tata Motors, which recorded approximately 130% gains in FY24, a number of companies from the Nifty Next 50 index have risen and outperformed. (Read the full story here.)

01 Apr 2024, 12:29:55 PM IST

Sensex Today Live : Shyam Century Ferrous CEO Sumanta Kumar Patra resigns as Director and CEO, citing personal reasons

Sensex Today Live : Shyam Century Ferrous today informed the exchanges that its Whole-time Director and CEO Sumanta Kumar Patra has resigned from the company citing personal reasons.

In an exchange filing, the company said, "We hereby inform you that Mr. Sumanta Kumar Patra, Whole-time Director & CEO of the Company has resigned as the Whole-time Director & Chief Executive Officer (KMP under Companies Act, 2013) of the Company with effect from close of the business hours of 31st March, 2024 due to the personal reasons."

01 Apr 2024, 12:20:46 PM IST

Lot of 'onion peeling' for attaining global first, says SEBI chairperson Madhabi Puri on T+0 settlements

Sensex Today Live : Madhabi Puri Buch, the Chairperson of SEBI, compared the process to "unraveling an onion," stating that the accomplishment of the world's first T 0 settlement necessitated significant problem-solving and personal inconveniences.

While speaking at the annual convocation of the Indian Institute of Management Ahmedabad (IIMA) on Saturday, Buch conveyed her conviction that the current generation of Indians is on the brink of experiencing the pinnacle of the emerging India. (Read the full story here.)

01 Apr 2024, 12:11:41 PM IST

Sensex Today Live : Sector Indices Heat Map

Sensex Today Live : Across sectors, the Nifty Bank was up 0.92%, and the Financial Services index was up 1.02%. The Media, Metal and Realty indices had climed 3.12%, 2.84%, and 3.99%, respectively.

Rest of the sectoral indices were also in the green.

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01 Apr 2024, 12:08:11 PM IST

Sensex Today Live : Broader market indices heat map

Sensex Today Live : The broader market was in the green, with the BSE MidCap index up 1.41%, and the BSE SmallCap index up 2.40%.

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01 Apr 2024, 12:06:39 PM IST

Sensex Today Live : Gainers and Losers on Nifty

Sensex Today Live : JSW Steel, Tata Steel, Shriram Finance, Adani Ports & SEZ, and Larsen & Toubro, were the top gainers on the Nifty 50, while Titan, LTIMindtree, Eicher Motors, Bharti Airtel, and Nestle India, were the top drags on the benchmark index. 

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01 Apr 2024, 12:04:34 PM IST

Sensex Today Live : Gainers and Losers on Sensex

Sensex Today Live : JSW Steel, Tata Steel, Larsen & Toubro, NTPC, and UltraTech Cement, were the top gainers on the Sensex, while Titan, Nestle India, Bharti Airtel, Tech Mahindra, and ITC, were the top drags. 

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01 Apr 2024, 12:02:04 PM IST

Sensex Today Live : 12 pm Market Update

Sensex Today Live : Indian benchmark indices had climbed down from there highs on Monday, but were still trading up following strong cues from global markets.

At 12 pm, Sensex was up 438.83 points, or 0.60%, at 74,090.18, and Nifty was up 155.10 points, or 0.69%, at 22,482.

01 Apr 2024, 11:46:09 AM IST

Sensex Today Live : Hindustan Foods Ltd. subsidiary acquires shoe manufacturing facilities of SSIPL Retail

Sensex Today Live : Hindustan Foods, informed the exchanges today that its has bolstered its sports show manufacturing business with its subsidiary's acquisition of two shoe manufacturing facilities in Himachal Pradesh from SSIPL Retail Ltd.

In an exchange filing, the company said, "KNS Shoetech Private Limited, a wholly owned subsidiary of Hindustan Foods Limited, has entered into a Business Transfer Agreement with SSIPL Retail Limited. This agreement entails the acquisition of manufacturing undertakings previously owned by SSIPL, located at Bangran and Bhagani in Himachal Pradesh as well as Kundli in Haryana."

The company further said, the total outlay for the transaction was more than 100 crores with the BTA amount of nearly 77 crores. The facilities are catering to key customers like Puma, Reebok, Asics, Sketchers, etc.

01 Apr 2024, 11:35:29 AM IST

Sensex Today Live : SBICAPS gives fiscal position and borrwing update,says lengthening debt maturities, today's standard in fiscal management

Sensex Today Live : In the first 11 months of FY24, the Central government's fiscal deficit has reached 86.5% of the FY24RE. Total receipts amounted to 22.45 trn, which is 81.5% of RE. This sum is composed of 18.49 trn in net tax revenue and 3.6 trn in non-tax revenue.

The strong performance in tax revenues, along with a moderate increase in revenue expenditures, suggests that the fiscal deficit for the year is on track to meet the revised estimates for FY24.

H1 planned borrowing as a share of FY25BE is expected to be low at 53%, lower than historical average. Gross borrowing of 7.5trn is significantly lower than 8.88trn in H1FY24.

Due to stringent fiscal deficit target of 5.1% of GDP, gross borrowing would remain lower for FY25 vs. FY24 at ~Rs. 14.1 trn

Weighted average maturity of issuances in H1FY25 is planned to be 20.8 years vs. 17.9 years in H1FY24. In H1FY25, >15 years maturity issuance would be 51% of total issuance.

The Centre has newly introduced the ultra-long 50-year security, and greatly increased the quantum of the 40-year G-sec. The elongation of maturity profile is reflective of increasing demand from more patient investors

There has been a sharp decline in the share of 182-day T-bills, while the share of 364-day T-bills continues to rise due to flat yield curve.

Overall planned borrowing across tenors is lower in Q1FY25 vs. Q1FY24; however, actual borrowing is typically greater than planned, so some overshoot may be expected

FY24 saw gross SGS borrowings of Rs. 10.1 trn vs. Rs. 7.6 trn in FY23. Top 5 states contributed 72% of the incremental SGS issuance in FY24 vs. FY23. Top 5 states gross SGS issuance increased by 60% while others grew by a measured 15% in FY24 vs FY23. Going against the trend in Union borrowings, gross SGS issuances will likely increase to ~ 10.5trn in FY25 with major variation amongst States.

01 Apr 2024, 11:14:54 AM IST

Sensex Today Live : PSBs level up, need good hands at top: FM Sitharaman

Sensex Today Live : Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, has stated that the government is encouraging state-owned banks to operate more professionally. She highlighted that these institutions are now self-sufficient and do not depend on the Centre for capital infusion.

Sitharaman, speaking at the Mint India Investment Summit, emphasized that public sector banks have become self-reliant. They are now capable of raising funds from the market for developmental activities, eliminating the need for annual capital infusion from the government. (Read the full story here.)

01 Apr 2024, 11:03:48 AM IST

Sensex Today Live : 11 am Market Update

Sensex Today Live : Indian benchmark indices had climbed down from there highs on Monday, but were still trading up following strong cues from from global markets.

At 11 am, Sensex was up 420.58 points, or 0.57%, at 74,071.93, and Nifty was up 148.85 points, or 0.67%, at 22,475.75.

01 Apr 2024, 10:40:14 AM IST

Sensex Today Live : Indian private sector’s appetite for high risk opens up new opportunities: FM Sitharaman

Sensex Today Live : During the Mint India Investment Summit 2024, Finance Minister Nirmala Sitharaman shared with Mint's editor-in-chief Ravi Krishnan that the Union government is driving the nation's growth through a significant capital expenditure thrust. Concurrently, private investments are also gaining momentum in crucial emerging sectors.

In a candid conversation, Sitharaman mentioned that despite recent high politicisation, the Centre-state relationship remains intact. She underscored the need for states like Odisha, Jharkhand, Bihar, and West Bengal to become the catalysts for India's growth. The government's strategy, she explained, is not merely to elevate these states but to empower them, thereby sparking further growth. (Read the edited excerpts here.)

01 Apr 2024, 10:32:01 AM IST

Sensex Today Live : Chitranjan Kahlon to take over as chairperson of IL&FS Investment Managers as Susim Mukul Datta completes tenure

Sensex Today Live : IL&FS Investment Managers informed the exchanges today that Chitranjan Kahlon, who has served as a member of Central Board of Direct Taxes and as an Executive Director of SEBI, along with working in various capacities in the Indian Revenue Service, will be replacing Susim Mukul Datta as the Chairperson of IL&FS Investment Managers, effective April 1.

In an exchange filing, the company said that Susim Mukul Datta has ceased to be the chairperson and Non-Executive Independent Director of the company after completing his tenure.

01 Apr 2024, 10:18:41 AM IST

Sensex Today Live : Amnish Aggarwal, Director – Research at Prabhudas Lilladher tracks core sector growth at a 3-month high

Sensex Today Live : India’s core infrastructural sector growth stood at 6.7% in Feb’24 as against 7.4% same period last year. The sector had reported growth rate of 4.1% in Jan’24. The strong output was led by double-digit growth in coal, natural gas and cement. The index which has a weightage of ~40.0% in the IIP is likely to give an upward bias to the factory output in the coming months.

On a cumulative basis, the core sector grew by 7.7% during Apr-Feb’24 as compared with 8.2% during Apr-Feb’23.

Looking ahead, the core sector growth is likely to benefit from higher capex spending by the Central and State Governments.

§ Crude oil production grew at an all-time high of 7.9% in Feb’23 vs -4.9% in Feb’23.

§ Natural gas production expanded by 11.3% vs 3.1% marking near two-year high growth.

§ Cement (10.2% vs 7.4%) and steel (8.4% vs 12.40%) production was helped by construction activity growth.

§ Electricity (6.3% vs 8.2%) depicted moderation over last year.

§ Coal output grew by 11.6% vs 9.0% last year supporting the overall index.

§ Fertilizers contracted by 9.5% this year vs 22.2% growth last year led by an unfavorable base effect.

01 Apr 2024, 10:04:10 AM IST

Sensex Today Live : EaseMyTrip acquires minority stake in ETrav Tech in all-cash deal

Sensex Today Live : EaseMyTrip today informed the exchanges that it has acquired a 4.94% stake in advanced travel tech solutions provider ETrav Tech Limited in an all-cash deal.

The company, in an exchange filing, said, "EaseMyTrip.com, one of India’s largest online travel tech platforms, announces making a strategic investment in E Trav Tech Limited consisting of 4.94% (post allotment) paid-up equity share capital of ETrav Tech Limited. As a part of the brand’s expansion strategy to diversify its portfolio, the acquisition translated as a cash deal. "

ETrav Tech Limited offers a diverse array of travel-related services, ranging from Flight API, and holiday packages to Hotel API, white label, Bus API, and visa applications.

The company said, the primary objective of this strategic investment is to acquire a minority interest and strengthen EaseMyTrip’s B2B segment offerings, catering to the diverse requirements of its corporate clients.

01 Apr 2024, 09:55:42 AM IST

Sensex Today Live : NCC Limited received new orders worth ₹3,086 crore in March

Sensex Today Live : NCC Limited today informed the exchanges that it has received new orders worth 3,086 crore (excruding GST) in the month of March, 2024.

Out of them, orders worth 1,589 crores were related to Electrical division, 1,330 crore worth of orders were rerated to Transportation Division, and 167 crores worth of order were related to the Building Division .

The orders were received from state government entities and private limited company.

During FY24 the company has secured orders totalling to around 26,000 crore, and achieved the guidance given by the management, at the beginning of the Financial year.

01 Apr 2024, 09:50:54 AM IST

Sensex Today Live : APSEZ handles 420 MMT cargo globally in FY24, up 24% YoY; Domestic ports handle over 408 MMT, shares jump 1.5%

Sensex Today Live : Adani Ports and Special Economic Zone (APSEZ), informed the exchanges today that it has handled 420 MMT of cargo in FY24 (including international ports), up 24% YoY.

The company said that its domestic ports contributed over 408 MMT of cargo volume.

The company has also handled its highest ever monthly cargo volumes (incl. international ports) of over 38 MMT in March 2024.

Ten of the company's ports and terminals handled record cargo volumes in FY24: Mundra at 180 MMT, Tuna at 10 MMT, Hazira at 26 MMT, Mormugao at 5 MMT, Karaikal at 12 MMT, Ennore at 13 MMT, Kattupalli at 12 MMT, Krishnapatnam at 59 MMT, Gangavaram at 37 MMT and Dhamra 43 MMT.

During FY24, more than one-fourth of all India cargo volumes was routed through APSEZ ports. This significant contribution by APSEZ underscores its active role in driving India’s growth trajectory. It also shows that India’s largest port operator comfortably surpassed its cargo volume guidance of 370 MMT - 390 MMT provided at the start of the financial year.

01 Apr 2024, 09:32:23 AM IST

Sensex Today Live : Biocon receives MHRA UK approval for its weight management injection Liraglutide

Sensex Today Live : Biocon Limited today informed the exchanges that it has received approval from the Medicines and Healthcare Products Regulatory Agency (MHRA), UK, for its complex formulation Liraglutide (gSaxenda) in a 6mg/ml solution for injection in pre-filled pen, through its European partner, Zentiva.

The company said the drug is used in the treatment of Weight Management as an adjunct to a reduced-calorie diet and increased physical activity.

This is further to our previous intimation of 27th March, 2024, informing that approval was received from the MHRA for Liraglutide (gVicotza), used in the treatment of Type 2 Diabetes Mellitus, filed through Zentiva.

01 Apr 2024, 09:26:11 AM IST

Sensex Today Live : Sector Indices Heat Map

Sensex Today Live : All the sectoral indices were in the green, with heavyweight indices like Bank, Financial Services, and Consumer Durables, leading the gains. 

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01 Apr 2024, 09:26:39 AM IST

Sensex Today Live : Broader market indices heat map

Sensex Today Live : The broader market was gaining, with the BSE MidCap index having climbed 1.27%, and the BSE SmallCap index up 1.74%.

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01 Apr 2024, 09:21:49 AM IST

Sensex Today Live : Gainers and Losers on Nifty

Sensex Today Live : Hindalco, Bajaj Finserv, JSW Steel, HDFC Bank and Apollo Hospitals, were the top gainers on the Nifty 50, while Bharti Airtel, was the only loser on the benchmark index. 

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01 Apr 2024, 09:20:11 AM IST

Sensex Today Live : Gainers and Losers on Sensex

Sensex Today Live : Infosys, JSW Steel, Bajaj Finserv, HDFC Bank, and Tata Steel, were the top gainers on the Sensex, while IndusInd Bank, HUL, Bharti Airtel, and Maruti Suzuki India, were the top drags on the index. 

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01 Apr 2024, 09:18:33 AM IST

Sensex Today Live : Opening Bell

Sensex Today Live : Indian benchmark indices opened in the green on Monday, led by positive cues from global peers.

At opening bell, Sensex was up 391.38 points, or 0.53%, at 74,042.73 and Nifty was up 144.75 points, or 0.65%, at 22,471.65.

01 Apr 2024, 09:11:35 AM IST

Sensex Today Live : Prestige Group signs ₹2,001-crore deal with Abu Dhabi Investment Authority and Kotak AIF to develop projects with Gross Development Value of ₹18,000 crores across more than four cities

Sensex Today Live : Prestige Group, in an exchange filing today, said that its subsidiaries has entered into a 2,001-crore deal with Abu Dhabi Investment Authority and Kotak AIF to capitalise on the growth opportunities in the residential sector by developing projects with a gross development value of 18,000 crore in more than four cities across India.

Irfan Razack, chairman & managing director of Prestige Group, said about the deal, "This marquee deal not only underscores the confidence of institutional investors in Prestige Group’s execution and corporate governance but also reflects our shared commitment to delivering excellence in real estate development pan-India."

01 Apr 2024, 09:10:40 AM IST

Sensex Today Live : Benchmark indices jump during pre-open

Sensex Today Live : Indian benchmark indices jumped at pre-open on Monday, following strong cues from from global markets.

Sensex was up 317.27 points, or 0.43%, at 73,968.62, and Nifty was up 128.10 points, or 0.57%, at 22,455 during pre-open.

01 Apr 2024, 09:00:16 AM IST

Sensex Today Live : Sensex Today Live : Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher gives technical forecast for Bank Nifty

Sensex Today Live : Banknifty gained momentum during the intraday session to touch the high of 47,440 levels with improvement in the bias and ended the day near 47,100 levels.

A decisive breach above 47,300 zone would establish conviction to anticipate for further rise in the coming days. Banknifty would have the daily range of 46,700-47,600 levels.

01 Apr 2024, 08:59:21 AM IST

Sensex Today Live : Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher gives technical forecast for Nifty

Sensex Today Live : Nifty witnessed a strong run up on the final day of the financial year 2023-2024 to end on a strong note near 22,350 zone with intraday high of 22,516 levels on the back of heavy buying witnessed among the frontline stocks. 

The index has once again gained strength and one can anticipate retesting the peak zone of 22,526 levels in the coming days with next higher targets of 22,700 and 23,200 levels expected. 

The support for the day is seen at 22,200 level while the resistance would be seen at 22,500.

01 Apr 2024, 08:56:29 AM IST

Sensex Today Live : Jubilant Ingrevia commissions new facility for manufacturing diketenes and derivatives

Sensex Today Live : Jubilant Ingrevia informed the exchanges today that it has commissioned a new facility at its manufacturing site for Diketene derivatives at Gajraula, Uttar Pradesh.

The Company presently has over 134 products & innovative solutions commercialised.

The newly commissioned facility adds additional capacity of ~2,000 TPA to produce high-value esters. This strengthening of the Diketene and derivatives platform marks a natural evolution of strategy in the Specialty Chemicals segment.

This business is pivoting towards accelerated growth and higher margins with the introduction of several downstream derivatives.

01 Apr 2024, 08:50:28 AM IST

Sensex Today Live : RBI Monetary Policy Committee Meeting this week: Date, time and what to expect

Sensex Today Live : The Reserve Bank of India (RBI) has revealed the schedule for the Monetary Policy Committee (MPC) meetings for the financial year 2024-25 (FY25), starting from April 1, 2024. The first meeting of the rate-setting panel for FY25 is slated for this week, from April 3-5, 2024. Following the April meeting, the subsequent ones are planned for June, August, October, and December 2024, and February 2025. The MPC, comprising six members and headed by RBI Governor Shaktikanta Das, is expected to make the decision public on April 5 at 10 am. (Read the full story here.)

01 Apr 2024, 08:47:16 AM IST

Sensex Today Live : Price of 19 kg commercial cylinder cut by ₹30.50, 5kg FTL cylinder price reduced by ₹7.50

Sensex Today Live : According to ANI, oil marketing companies (OMCs) in India have reduced the prices of 19 kg commercial cylinders and 5 kg Free Trade LPG (FTL) cylinders. 

The price reduction for the 19-kg commercial cylinders is 30.50, bringing the price in Delhi to 1,764.50 as of April 1. The 5 kg FTL cylinders have seen a price decrease of 7.50. This reduction follows two successive price increases in February and March of this year. 

Prior to this, the prices were cut by 39.50 per 19-kg commercial cooking gas cylinder on New Year's Eve 2024.

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