Aarti Industries Ltd., a manufacturer of specialty chemicals, recently inked a significant nine-year deal with a global agrochemicals giant. The contract, valued at ₹3,000 crore, focuses on supplying a specialized agrochemical intermediate, with deliveries set to commence this fiscal year. Reports suggest that the agreement was likely with UPL, a prominent Indian agrochemical player, involving … Read more
The Indian economy is anticipated to experience a growth of 7.3 percent in the fiscal year 2023-24, slightly higher than the 7.2 percent recorded in the previous year. This growth is primarily attributed to the strong performance seen in mining, quarrying, manufacturing, and certain service sectors. According to the initial advance estimates released by the … Read more
Today’s market surge has been significantly led by banking stocks, with notable gains from HDFC Bank, Reliance Industries Ltd, and Infosys. The Nifty index soared to an all-time high of 21,595.10, marking a historic day for investors and fostering optimistic expectations for robust year-end gains. Simultaneously, the Sensex, a crucial benchmark, observed a remarkable uptick … Read more
Allcargo Logistics has recently unveiled plans for a comprehensive restructuring, aiming to segregate its operations into distinct entities dedicated to domestic and international businesses. This strategic move holds the promise of not only streamlining the company’s operations but also enhancing efficiency. Moreover, it offers a clearer perspective to investors, providing them with more focused and … Read more
Sony Pictures Networks India (SPNI) released a statement addressing ZEE’s recent request for an extension of the December 21, 2023 deadline for their proposed merger. SPNI highlighted that ZEE’s notice to the Bombay Stock Exchange and the National Stock Exchange of India, dated December 17, acknowledges their inability to meet the impending merger deadline. The … Read more
Tata Group is planning to construct a substantial iPhone assembly plant in Hosur, Tamil Nadu, as part of its collaboration with Apple Inc. This plant, intended to be one of India’s largest, is expected to feature around 20 assembly lines and potentially employ up to 50,000 workers within the next two years, although these plans … Read more
In another day of market activity, the indices continued their upward momentum, marking a nearly 1% gain. The Nifty, after an initial surge, held within a certain range for the majority of the session, settling near the day’s peak at 20,855.10 levels. A mix of trends within various sectors kept traders engaged, with energy, metal, … Read more
In November, the manufacturing sector in India showed signs of recovery, rebounding slightly from the previous month’s low pace. The S&P Global India Manufacturing Purchasing Managers’ Index (PMI), adjusted for seasonal variations, increased from 55.5 to 56, signaling a marginal improvement. Despite this, the positive sentiment among companies dipped to its lowest level in seven … Read more
Flair Writing Industries made an impressive market debut by listing on stock exchanges at a striking 66% premium above its initial public offering (IPO) price, following the trend set by Tata Technologies and Gandhar Oil Refinery. The stock commenced trading at Rs 501 on the NSE and Rs 503 on the BSE, a substantial rise … Read more
The collective market capitalization of companies listed on the Bombay Stock Exchange (BSE) has soared to a historic high, surpassing the $4 trillion mark as of November 29. This milestone represents an upward surge of over $600 billion since the beginning of this year, illustrating the sustained upward trajectory of Indian equities. The total market … Read more