Nifty could reach 30,000 levels by 2026; Bajaj Finserv, IOC, LTIMindtree among top picks: ICICI Direct
ICICI Direct forecasts the Nifty reaching 30,000 by 2026. The brokerage suggests investing in Bajaj Finserv, Indian Oil Corporation, LTIMindtree, Pidilite Industries, SRF, Can Fin Homes, and Jamna Auto Industries. BFSI and Consumption sectors are expected to lead growth. The Bank Nifty is also projected for significant gains. Current market breadth indicates a potential for […]
Fed cut boosts D-Street even as rupee, trade worries persist
Indian stock markets saw a modest rise on Friday. The Nifty and Sensex closed higher, gaining about half a per cent. This uptick followed a US interest rate cut. However, uncertainty surrounding a US-India trade deal and a weaker rupee limited further gains. Investors are awaiting clarity on trade tariffs.
Rupee hits new low at 90.56 amid dollar demand, tariff concerns
The rupee closed at a record low of 90.41 amid strong importer dollar demand, Mexico’s tariff move, lack of the India-US trade deal, and continued FPI outflows, marking a 1% December drop and nearly 6% yearly depreciation.
Tata Steel to boost capacity by 50% to maintain market lead
Tata Steel plans a nearly 50% capacity expansion in India to defend market share and secure raw materials, with most capex expected from internal accruals. This strategic move aims to align new capacities with anticipated demand growth post-FY29, ensuring profitability and maintaining a healthy balance sheet.