Vedanta, Hindalco, other metal stocks rally up to 11% in one week. Should you buy or wait? Here’s what analysts say
Metal stocks are experiencing a strong rally. Shares of Adani Enterprises, Hindalco Industries, and Vedanta have surged. Analysts recommend patience. Investors should buy on dips rather than chase momentum. Several factors are driving this surge, including government import duty hikes on gold and silver. Strong industrial demand and supply disruptions are also supporting prices.
Brokerages turn cautious after Kaynes’ weak Q4 performance
Kaynes Technology shares saw a sharp 20% fall. This followed a disappointing March quarter earnings report and missed revenue forecasts. Analysts have downgraded the stock. Concerns about execution delays and working capital are impacting investor sentiment. The company’s stock had previously surged significantly since its listing.
Sebi proposes key tweaks to streamline derivatives trading
Sebi proposes simplifying exchange-traded and commodity derivatives regulations by removing complex close-to-money (CTM) option rules and reducing mandatory product advisory committee meeting frequency. These changes aim to ease compliance and reduce uncertainty for market participants, aligning with international practices.
Global Market Today: Asian stocks rise after AI rally spurs US gauges
Asian stocks climbed, mirroring Wall Street’s record highs driven by the AI trade and robust US consumer resilience. Japan, South Korea, and Australia saw gains, with the MSCI Asia Pacific Index on track for its sixth weekly rise. Nvidia’s rally fueled US trading, while Brent crude edged higher and the dollar maintained its strength.
India’s crude oil stocks drop 15% amid Iran conflict, raising supply concerns
India’s crude oil stocks have dropped 15% since late February due to declining imports amid the Iran conflict. Refiners are drawing from inventories to maintain processing rates, but sustained supply constraints may soon necessitate reduced operations, potentially explaining the call for fuel conservation.
Rupee almost breaches 96/$ before clawing back
The Indian rupee neared 96/$ amid foreign fund outflows, oil inflation, and balance of payments concerns. Reported central bank intervention helped the rupee recover from an intraday low, though it closed weaker. Potential tax cuts for foreign investors on Indian bonds also influenced the currency’s movement.
India’s gold loan market has huge potential, there’s lot of idle metal: George Alexander Muthoot
The rise in prices will add to the growth momentum as it will give more borrowing power to those who are pledging gold. The uncertainties will not change the course of the gold loan market. And the price fluctuation won’t matter since there is enough cushion. While disbursing loans, the loan to value (LTV) ratio […]
As rupee dips, I-T steps up vigil on shady outflows
In multiple cases, individuals have used dozens of fake permanent account numbers (PANs) with the same name but different addresses and dates of birth to transfer money under RBI’s liberalised remittance scheme (LRS) which bars a resident from spending and investing more than $250,000 a year abroad.
BoB looks to sell Rs 2,700 crore of NPAs; taps ARCs, NBFCs
Bank of Baroda is selling a ₹2,776 crore portfolio of 41 stressed loans, including nine declared fraud accounts like Ushdev International and Nirmal Lifestyle. The sale, conducted on a cash basis with assets transferred “as is where is, without recourse,” aims to clean the bank’s books.
AI reset erases nearly half of IT majors’ value
India’s top software exporters are projected to lose $200 billion in market value from their peaks due to disruptive AI technology. The aggregate market cap has already fallen by 45% since December 2024, with TCS and Wipro experiencing over 50% declines. This erosion, while significant in absolute terms, is not unprecedented for the sector.