Hitachi Energy India shares surged 2% after winning 765 kV transformer order from Power Grid Corp
Hitachi Energy India’s stock price increased following a significant order from Power Grid Corporation of India. The company will supply 30 units of 765 kV transformers. This order supports India’s growing energy needs and aligns with the ‘Make in India’ initiative. Demand for power transformers is rising due to renewable energy and industrial electrification.
Stocks to buy today: ICICI Bank, RIL among top 10 trading ideas
Indian market is expected to open higher, mirroring positive global trends. Nifty futures closed with a 1.20% gain, while India VIX decreased by 3%. Experts recommend buying RIL, National Aluminum, Bajaj Auto, Axis Bank, Shriram Finance, Union Bank, Tata Steel, ICICI Bank and SAIL for short-term gains.
D-Street heats up to 9-month high as West Asia cools
Indian equity markets soared to a nine-month peak, propelled by banking stocks and improved investor confidence due to easing geopolitical tensions in West Asia. The NSE Nifty closed at 25,549, while the BSE Sensex reached 83,755.87, marking significant gains. Experts advise investors to focus on reasonably valued large-cap stocks in sectors like banking and cement.
Axis Bank won’t infuse more capital into NBFC; it will tap market
The commitment to the RBI comes in the backdrop of the central bank’s draft guidelines issued last October on ‘Forms of Business and Prudential Regulation for Investments.’ The guidelines say that core lending business should be undertaken by the bank while restricting lenders and their NBFC units from duplicating similar revenue streams.
Life insurers see the shine, seek Irdai nod to invest in gold ETFs
Life insurers in India are seeking regulatory approval from Irdai to invest in gold ETFs, driven by their impressive returns exceeding 30% in the last year. This move aims to diversify portfolios within ULIPs and hedge against market volatility, as traditional assets offer lower returns.