Market LIVE Updates: Indices trade lower with Nifty around 17,700; Sensex down 550 points
Stock Market LIVE: IT keeps indices in red; Sensex down 600 pts, Nifty 150 pts
Amidst a lack of major events to fuel the sentiment, the stock market reacts to Infosys and HDFC Bank’s Q4 earnings as both the stocks shed. Investors await the upcoming results such as HCL Tech, ICICI Prudential, and Tata Communications along with global trends that might dictate their mood.
Apple’s CEO Tim Cook is arriving in India to open the company’s first local stores, as the tech giant’s sales in the country reached a new record of nearly $6 billion for the year ending in March.
This underscores the growing significance of the Indian market for Apple, and highlights its efforts to expand its presence and offerings in the region.
Bloomberg reports that their sources revealed that Apple’s revenue in India surged by almost 50 percent to $6 billion in the latest fiscal year, up from $4.1 billion the previous year.
PSU Bank jumps more than 2% in the second half of the session with all stocks trading higher
Dheer Shah on WPI data: A good monsoon year will help with stable WPI inflation, whereas a spike in crude prices will pose a risk
Dheer Shah, CFO, BDR Pharma, on March WPI data: As expected, the WPI inflation rate has eased to 1.34%.
After CPI inflation data released last week fell to a 15-month low, WPI inflation has slowed to a 29-month low. Most components of the WPI inflation rate have eased across manufactured, primary, and fuel and power groups.
The fall in wholesale inflation is a positive development. On expected lines, the data has been softening for the past few months and falling in sync with retail inflation.
As we advance, a good monsoon year will help with stable WPI inflation, whereas a spike in crude prices will pose a risk to wholesale and retail inflation.
Inflation must be stable and in a range for the central bank to put its interest rate policy on hold and start easing from CY24 onwards.”
17 Apr 2023, 01:50:22 PM IST
French firm TotalEnergies makes 1st delivery of LNG cargo to Adani Group’s firm
French company TotalEnergies said on Monday that it has made its first delivery of a liquefied natural gas (LNG) cargo Dhamra LNG terminal, which is owned and operated by Adani Total Private Limited (ATPL).
Notably, this year in February, the Fench Energy giant suspended a hydrogen project with the Adani conglomerate.
At that time, TotalEnergies chief executive Patrick Pouyanne said that a contract to create a new hydrogen company with Adani “has not been signed and will not be signed
Aarey Metro car shed: SC directs MMRCL to pay ₹10 lakh fine within 2 weeks for felling of trees beyond permission
The Supreme Court on 17 April has directed Mumbai Metro Rail Corporation Ltd (MMRCL) to pay ₹10 lakh fine within 2 weeks for the felling of trees beyond permission.
A bench comprising Chief Justice D Y Chandrachud and Justices P S Narasimha and J B Pardiwala said it was improper on Mumbai Metro Rail Corporation Limited’s (MMRCL) part to move the tree authority for felling of any trees in excess of 84.
The SC has further permitted Mumbai Metro to remove 177 trees from Aarey forest, and said that stay on tree felling will lead to project work being halted.
ICICI Bank to consider fundraising via debt securities at board meeting this week
Private sector lender ICICI Bank on Monday said that it plans to take a decision on fundraise via debt securities during the board meeting which is scheduled on Saturday, 22 April.
In its exchange communication dated 17 April 2023, ICICI Bank informed about the fundraising programme citing, “fund raising by way of issuance of debt securities including non-convertible debentures/bonds/notes/offshore certificate of deposits in single/multiple tranches in any currency through public/private placement and buyback of securities within the limits that the Board is authorised to approve under applicable law.”
Ashok Leyland bags order of 1,560 trucks from VRL Logistics
Commercial vehicle maker Ashok Leyland on Monday said it has received an order of 1,560 trucks from VRL Logistics Limited (VRL).
This order is for AVTR 3120 and AVTR 4420 TT models of trucks, which have all the advanced features to bring more efficiency and profitability to VRL’s expanding fleet, the company said.
The company, however, did not disclose the financial details.
VRL Logistics and Ashok Leyland have a longstanding association, Over the years VRL has worked very closely with us in developing new products and features suited to emerging needs of customers in the logistics industry,” said Shenu Agarwal, Managing Director and Chief Executive at Ashok Leyland.
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