Over the past year, the real estate market has seen a significant upswing, with the realty index skyrocketing by over 125 percent. This surge can be attributed to strong pre-sales figures of realty firms. Stock prices of realty firms have remained buoyant, largely due to announcements of upcoming projects, promising pre-sales figures, and expansions into new markets by these companies.
Open FlipThe government has permitted exports of 30,000 tonne of non-basmati white rice to Tanzania and 80,000 tonne of broken rice to Djibouti and Guinea Bissau. The export is permitted through National Cooperative Exports Limited (NCEL), the Directorate General of Foreign Trade (DGFT) has said in a notification. Though exports of non-basmati white rice have been banned since July 20, 2023 to boost.
Open FlipMOIL shares surged up to 11.5 percent in trade on March 4 after the state-owned manganese ore mining company said its February production jumped 15 percent YoY. MOIL achieved best ever February production of 1.51 lakh tonnes manganese (Mn) ore, higher by 15 percent YoY, while sales at 1.56 lakh tonnes increased by 18 percent over the same month during the previous year.
Open FlipData Patterns' shares have gained over 25% in the last three trading sessions. At around 11:10 am, over 10.48 lakh shares were trading on the NSE with the total traded value of the shares at Rs 313 crore. The three-day rally in this multi-bagger stock has catapulted its 1-year gains to 144%, a significant outperformance over Nifty with 27% returns during the same period.
Open FlipThe Indian stock market traded higher on Monday with the benchmark Nifty 50 index hitting a fresh record high level in early trade, led by positive global market cues. The BSE Sensex hit an all-time high of 73,994.7 on March 2, while the NSE Nifty 50 scaled its record high of 22,440.90 today. The Nifty Midcap 100 index gained 0.2%, while the Nifty Smallcap 100 was down over half a percent.
Open FlipMeanwhile, the stock also hit an upper circuit of 5% at Rs 8,417.6 in Monday's trade. This was the third consecutive upper circuit in the stock.Tata Electronics will set up a semiconductor fab in partnership with Powerchip Semiconductor Manufacturing Corp (PSMC), Taiwan. This unit will be constructed in Dholera, Gujarat. The plant will attract Rs 91,000 crore investment.
Open FlipShares of steel companies fell up to 3.4% on Monday after CLSA downgraded certain stocks with stretched valuations and weaker industry spreads compared to their nemesis. The Hong Kong-based brokerage downgraded JSW Steel and Tata Steel while reiterating its underperform rating for Jindal Steel & Power.JSW Steel shares fell 3% to the day's low of Rs 818.50 on the NSE in the early trade.
Open FlipAs the nation gears up for the much-anticipated General Elections in 2024, market analysts are closely observing historical trends to decipher potential outcomes for the Indian stock market. A comprehensive study examining the performance of benchmark indices, including the Sensex and Nifty 50, in the four previous election years (excluding 1999) reveals intriguing patterns.
Open FlipNotwithstanding a minor correction, gold’s shine remained intact in Monday's early trade amid hopes of an interest rate cut in June on the back of softer US economic data. The price of yellow metal in the international markets was at a two-month high while on the MCX, this bullion metal is trading at a three-month peak. Gold has gained on softening of the dollar index (DXY).
Open FlipIndia has asked tech firms to seek its approval before the public release of artificial intelligence (AI) tools that are "unreliable" or under trial, noting they should also be labelled for the potential to return wrong answers for user queries. The use of such tools, including generative AI, and its "availability to the users on Indian Internet must be done so with explicit permission.
Open FlipThe strong growth in Automobile whole sale numbers for the month of February continued to be led by two-wheeler OEMs (Original Equipment Manufacturers) while performance by rest of segments remained a mixed bag.The Passenger Vehicles wholesales growth rate though firm was significantly lower than the two-wheelers.
Open FlipThe government has permitted exports of 64,400 tonnes of onion to the UAE and Bangladesh through the National Cooperative Exports Ltd (NCEL), according to notifications of the commerce ministry. While export of 50,000 tonnes of onion is permitted to Bangladesh, shipments of 14,400 tonnes were allowed to the UAE. "Export of 14,400 tonnes of onions, with a quantity ceiling of 3,600 MT.
Open FlipBiocon Biologics on Monday said it has inked a patent settlement agreement with Bayer Inc and Regeneron Pharmaceuticals Inc, paving the way for it to launch a biosimilar product in Canada. The settlement pact paves the way for the introduction of Yesafili, a proposed biosimilar to Eeylea (aflibercept) injection, in the Canadian market, Biocon Biologics said in a regulatory filing.
Open FlipThe Graduate Management Admission Council (GMAC), which administers the Graduate Management Admission Test (GMAT) and NMAT, has seen the number of Indian candidates taking GMAT grow 20 percent since last year, Gaurav Srivastava, GMAC's Regional Director, South Asia, Middle East and Africa, told Moneycontrol in an interview.
Open FlipWinemaker Sula Vineyards' stock rose 1.5% on March 4 after it announced new tasting room close to Nashik airport, likely record harvest in 2024 and also achieved a notable "global digital milestone". In a stock exchange filing, Sula Vineyards said it is all set to open its first-ever tasting room and bottle shop outside its wineries in Q1FY25.
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