Tech View: Nifty indicators give positive signals, likely to face resistance at 24,694. How to trade tomorrow
Nifty formed a bullish candle today, closing at a 5-session high after establishing a triple bottom in the 24,073-24,140 range. Indicators signal a bullish short-term trend, with support likely in this range and resistance expected around 24,567-24,694, according to Deepak Jasani of HDFC Securities.
Looking forward to advancing EU-India FTA talks: Spanish President Sanchez
Spanish President Pedro Sanchez emphasizes the significant potential for a stronger EU-India partnership, focusing on advancing the EU-India FTA negotiations. He highlights Spain’s investments, renewable energy expertise, and transportation systems as key contributions to India’s infrastructure and green energy goals, promoting mutual economic growth.
Tata Motors, other auto stocks fall up to 6%. Why the red signal?
The Nifty Auto index was down over 2%, with Bajaj Auto and Hero Moto shares falling around 3% each, while Maruti Suzuki and Mahindra & Mahindra were about 2% lower. Analysts expect the auto index could decline by an additional 10-15% from current levels.
Is it a temporary cyclical slowdown or is something serious ailing Indian economy? Neelkanth Mishra answers
Neelkanth Mishra explains the current state of the Indian economy, suggesting that the worst phase may be over. However, a recovery requires increased fiscal spending and monetary easing. Mishra highlights slow government spending and weak credit as concerns, but notes potential improvements with real estate and power investments. Monetary easing might begin around April.
Why banking & real Estate are Rahul Shah’s top bets amid market correction
FMCG remains not to buy and the sector which has done well and which has been cheap and it has not done well in terms of the returns that is financials.
Afcons Infrastructure IPO subscribed 76% so far on last day of bidding. Check GMP, details
Afcons Infrastructure’s IPO, a Shapoorji Pallonji company, was fully subscribed on the last day with the issue receiving bids 1.10 times the total size. The retail portion saw 52% subscription while non-institutional investors subscribed 2.42 times. The company plans to use the proceeds for construction equipment, working capital, and debt repayment.
IGL shares rally 5% even as Q2 net profit declines 18% YoY
Indraprastha Gas shares rose 5% despite a 17.8% YoY net profit decline to Rs 454.1 crore. Revenue increased 7% to Rs 4,088 crore, with an interim dividend of Rs 5.50 announced.
Why is India’s GDP growth so high but bank credit & consumption are slack? Asks Swaminathan Aiyar
Swaminathan Aiyar, Consulting Editor at ET Now, highlights the puzzling scenario of high GDP growth in India alongside stagnant bank credit and consumer spending. The strong domestic investment in stock markets, inflation concerns, and potential adjustments by the RBI are discussed amid questions on the accuracy of GDP data or anticipation of a future consumption […]
Suzlon Energy shares rally 4% as Q2 profit jumps 96% YoY
Suzlon Energy’s shares surged 4% after reporting a 96% YoY increase in net profit for Q2FY25. The company’s revenue grew by 48% to Rs 2,093 crore, while EBITDA rose 31% to Rs 294 crore. Suzlon also secured India’s largest wind energy order of 1,166 MW from NTPC.
Tata Technologies shares jump nearly 2% after Q2 earnings
Tata Technologies’ shares rose by 1.7% to Rs 1,016.85 on BSE after reporting a 2% decline in net profit to Rs 157 crore for Q2 FY24. Revenue increased by 2% to Rs 1,296 crore, with EBITDA rising 10%, improving margins to 18.2%. The company maintains a strong order book and expects better performance in H2 […]