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Large Caps Add 4.12 lakh crore in market cap today.
Top Contributors in Market Cap Change:
Bharti Airtel: Rs 24,435 crore.
Reliance Industries: Rs 18,539 crore.
Mid Caps Add 1.89 lakh crore in mid caps today
Top Contributors In Market Cap Change:
Adani Total Gas: Rs 4,701 crore.
Bharti Hexacom: Rs 4,625 crore.
Small Caps Add 1.08 Lakh Crore in small caps today
Top Contributors In Market Cap Change:
Hindustan Copper: Rs 1,457 crore.
Redington: Rs 1,442 crore.
Rupee strengthened by 31 paise to close at 86.96 against the US Dollar.
It closed at 87.27 a dollar on Tuesday.
Source: Bloomberg
India is on track to achieve the ambitious target of 500 GW renewable energy by 2030, despite the hurdles, according to Suzlon Energy’s Chief Executive Officer, JP Chalasani.
The slowdown in power purchase agreements (PPAs) and quarterly performance of industry players could be a temporary trend and it won’t affect the sector in the long run, the CEO said in an interaction with NDTV Profit.
Read full story here.
The Ebitda and earning per share estimates of Indian pharma companies are likely to take a hit in the likely scenario of tariffs being imposed by the US, according to Goldman Sachs. Impact on operating profit is likely to range from 3-13% on an average, assuming 25% tariffs, the brokerage said.
Read full story here.
European Markets are also trading higher with DAX up 2.5%.
Nifty 50 Sees Biggest Gain In 20 Days At 1.4%.
Nifty Midcap Sees Biggest Gain In 24 Days At 2.3%.
Nifty Smallcap 250 Sees Biggest Gain In 9 Days At 2.1%.
Market Cap Gain
Total NSE Market Cap Gain Of Rs 3.86 Lakh Crore.
Large Caps Gain Around Rs 3.71 Lakh Crore In Market Cap.
Mid-Caps Gain Around Rs 1.47 Lakh Crore In Market Cap.
Small Caps Gain Around Rs 81,400 Crore In Market Cap.
Trent in a clarification said that the system got updated with closed stores. They said that they are currently at 240 stores.
Over 1.02 million shares of Tata Steel were traded via a block deal on Wednesday. The share of Tata Steel rose as much as 4.06% to Rs 145 apiece.
The Competition Commission of India has approved Adani Infra’s acquisition of 30.07% stake in PSP Projects Ltd. This comes after a significant portion of PSP Group’s order book was attributed to the Adani Group, making it the single largest contributor to the company’s order value.
The total amount of orders received by PSP Group stands at Rs 3,478.58 crore, with nearly Rs 1,631 crore coming from the Adani Group alone. This contribution was recorded just before the CCI approved the acquisition.
Read full story here.
Tata Steel Ltd. has consistently underperformed its closest peer, JSW Steel Ltd. Over one year, the Tata steelmaker's shares have fallen 8%, while JSW Steel's stock has risen 19%. Over 10 years, Tata Steel gained 144%, compared to JSW Steel's 749%.
One of the key reasons is Tata Steel's struggling European operations, acquired as Corus in fiscal 2008. Tata Steel Europe Ltd. has yielded only Rs 2,090.45 crore in aggregate net profit from FY09 to FY24.
Read full story here.
Market Correction Not Attributable To US; Some Pockets Overheated, Says UTI AMC's Tyagi
Indian equities were trading higher with Nifty rising nearly 1.23% at 22,354.90 and Sensex rose over 800 points higher at 73,800.
Intraday, both Nifty and Sensex rose over 1.11%.
Nifty rose 1.32% to 22,375.05.
Sensex rose 1.18% to 73,848.49.
Broader indices were trading higher. Nifty Midcap 150 rose 2.15%; Nifty Smallcap 250 was trading 2.03% higher.
All sectoral indices rose, led by Nifty Metal and Nifty Auto.
Nifty Bank rose 0.73%, Nifty IT was up 2.59%.
Infosys, Bharti Airtel, Mahindra & Mahindra, RIL and Trent were top Nifty gainers.
HDFC Bank, Bajaj Finance, Grasim Industries, Bajaj Finserv and IndusInd Bank were top Nifty losers.
AC production likely to be impacted in April due to compressor delays
Sales expected to rise by 25-30%.
Demand surge beyond expectations could lead to out-of-stock situations.
Ongoing geopolitical tensions worsened supply chain issues.
Critical component availability and production timelines remain uncertain.
Rising commodity prices and a weaker rupee adding pressure.
Major white goods companies may hike prices by 3-4% in April-May, raising AC cost by Rs 1,500-2,000.
Alert: India still imports about 40% components from China
Sources: Industry experts, companies
Granules India Fails To Follow US FDA Mandated Safety Procedures
Other countries have used tariffs against us for decades and now it is our turn to start using them against those other countries.
On average, the European Union, China, Brazil, India and countless other nations charge us tremendously higher tariffs than we charge them. It is very unfair.
India charges us tariffs, 100 per cent. The system is not fair to the US, it never was
On April 2, reciprocal tariffs kick in and whatever they tariff us, other countries, we will tariff them. Whatever they tax us, we will tax them
If they do non-monetary tariff to keep us out of their market, then we will do non-monetary barriers to keep them out of our market
At pre-open, the NSE Nifty 50 was trading 9.60 points or 0.04% lower at 22,073.05. The BSE Sensex was 0.03% higher at 73,005.37.
Rupee opened 3 paise higher at 87.24 against the US Dollar. It closed at 87.27 on Tuesday.
Source: Bloomberg
The dollar index is 0.18% higher at 105.74. Brent crude is down 0.38% to $70.77.
JPMorgan has upgraded coverage on Mahindra & Mahindra Financial Services Ltd. with an 'overweight' rating from the earlier 'underweight'. It has also hiked its target price to Rs 320 from Rs 235.
The brokerage highlighted the potential for positive rural momentum in 2025, which is expected to benefit MMFS.
Read full story here.
Nifty March Futures down by 0.34% at a premium of 108,4 points.
Nifty March futures open interest up by 1.39%.
Nifty Options March 6 Expiry: Maximum Call open interest at 23,000 and Maximum Put open interest at 20,800.
Securities In Ban Period: NIL.
The US Dollar index is up 0.19% at 105.75.
Euro was up 0.20% at 0.9429.
Pound was up 0.18% at 0.7829.
Yen was down 0.08% at 149.85.
Stocks in the Asia Pacific region traded mixed early on Wednesday, on the tariff relief signal after President Donald Trump sparked a global selloff.
Japan's Nikkei rose 0.04%, or 17 points to 37,347, while Australia's S&P ASX 200 was down 1.03% at 8,113 as of 6:45 a.m. Stocks on Wall Street recovered after erasing all gains made this year as US Commerce Secretary Howard Lutnick signalled a tariff compromise with Canada and Mexico.
Canada and China responded to Trump with retaliatory measures after the US decided to proceed with levies against Canada and Mexico on Tuesday. Meanwhile, China's commerce ministry "strongly" opposed the tariff measures and "hoped" that the US would handle issues objectively and rationally.
Future contracts in China pointed at a flat start and will remain in focus as the country maintains its economic growth goal at about 5% for 2025, — the third consecutive year — raising expectations for officials to unleash more stimulus. China also set this year’s fiscal deficit target at around 4% of gross domestic product, according to the report seen by Bloomberg.
Wall Street saw a volatile session but recovered its losses in late hours. The S&P 500 tumbled 1.22%, while the Nasdaq 100 fell 0.35%. The Dow Jones Industrial Average declined by 1.55% on Tuesday.
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