Rupee falls for a 3rd day, loses 30 paise to 93.79/$
The Indian rupee experienced its third consecutive daily decline, closing at 93.79/80 against the dollar. This depreciation was fueled by escalating crude oil prices, driven by geopolitical tensions in West Asia and US President Trump’s threats towards Iran.
Impact on growth and inflation to depend on duration of West Asia conflict: MPC says
RBI policymakers acknowledged that a prolonged West Asia conflict poses risks to India’s economic growth and inflation, though the economy remains resilient. The monetary policy committee opted for a wait-and-watch approach due to geopolitical uncertainties and concerns over El Nino’s impact on inflation.
IT takes D-St on a tumble, AI fears pop up on HCL Q4 miss
Indian IT stocks experienced a significant decline on Wednesday. This sell-off was triggered by HCL Technologies’ disappointing fourth-quarter earnings and subdued future outlook. Investor concerns about Artificial Intelligence’s disruptive potential in the sector resurfaced. The Nifty IT index saw a substantial drop, with several major IT companies also falling.
JAL Case: NCLAT reserves ruling on Vedanta plea
The National Company Law Appellate Tribunal (NCLAT) has reserved its order on Vedanta’s petitions challenging Adani Enterprises’ bid for debt-ridden Jaiprakash Associates Ltd. The tribunal concluded hearings after arguments from Vedanta, the Resolution Professional, Committee of Creditors, and Adani Enterprises.
Only a handful of traders power India’s F&O volumes, highlights Zerodha’s Nithin Kamath
Nithin Kamath said India’s F&O market remains small despite perceptions, with limited participation. A tiny group of 1–2% traders drives 60–70% of volumes, making brokerage revenues highly dependent on a narrow, concentrated investor base.
India denies cash, crypto payments to Iran for Hormuz passage
India has denied making any payments, in cash or cryptocurrency, to Iran for safe passage of its vessels through the Strait of Hormuz. This clarification follows an incident on April 18 where two Indian vessels were fired upon by Iranian forces and forced to turn back.
Tata Communications Q4 Results: Profit falls 75% YoY to Rs 259 crore; co declares Rs 17.5 dividend
Tata Communications reported a 75% YoY drop in Q4 profit to Rs 259 crore due to absence of one-off gains, despite 9% revenue growth. Higher costs and base effects pressured margins, while the company announced a Rs 17.5 dividend.
Midcap Meltdown: 12 stocks slide up to 50% from 52-week highs, FIIs cut stakes
The broader market has undergone a sharp correction, with the Sensex falling nearly 8% from its 52-week high. In contrast, the BSE 150 MidCap index has been relatively resilient, slipping only around 3%. But beneath this surface stability lies considerable damage — 42 midcap stocks in the index have corrected between 25% and 50%.To understand […]
Trent announces first-ever bonus issue in 1:2 ratio. Check details
Trent, the parent company of Westside and Zudio, announced its first-ever bonus issue, offering shares in a 1:2 ratio to over five lakh shareholders. The Tata Group company will issue one bonus share for every two held, subject to shareholder approval, and also declared a Rs 6 dividend.
Morgan Stanley reiterates ‘Overweight’ rating on TCS, sees 10% upside potential
Tata Consultancy Services is gaining attention after Morgan Stanley reiterated an “Overweight” rating with a ₹2,880 target, implying ~10% upside. Despite short-term pressure on the stock, the brokerage expects a recovery in growth and potential valuation re-rating, signalling a possible turnaround.