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Mint
5 days ago
- Business
- Mint
Indian shares muted as Middle East conflict dents sentiment
(Updates for morning trade) June 16 (Reuters) - India's benchmark indexes were muted on Monday, pausing after two straight sessions of losses as the conflict between Israel and Iran showed no signs of cooling, keeping investors wary and adding to geopolitical uncertainty around the world. The Nifty 50 was up 0.18% at 24,764.4 and the BSE Sensex rose 0.15% to 81,245.5, as of 10:12 a.m. IST. They rose about 0.4% each in early trade, before paring gains. Nine of the 13 major sectors logged losses. The smallcaps and midcaps lost about 0.7% and 0.5%, respectively. Both the benchmarks posted weekly losses on Friday as Israel's military strikes on Iran escalated tensions in the Middle East. Over the weekend, both sides launched fresh attacks, raising geopolitical concerns. Crude prices climbed amid concerns over supply disruptions in the oil-rich Middle East. Higher oil prices are a negative for India, which imports the bulk of its energy needs. "The key risk for Indian equities is the Israel-Iran conflict. Any sustained rise in crude will hurt macro stability," said G Chokkalingam, founder and head of research of Equinomics Research. Other Asian markets were also muted, with the MSCI Asia ex-Japan index trading flat. Among individual stocks, Tata Motors fell 5.4% after projecting fiscal 2026 operating margins of 5%-7%, below its earlier 10% target for its luxury unit JLR. Tata Motors was the top loser in the Nifty 50 index and also dragged the auto index 1% lower. HDFC Asset Management Company slipped 2% after JPMorgan downgraded the stock to "neutral" from "overweight", citing limited near-term catalysts following a 33% rally over the past three months. Airline operator SpiceJet gained 3% after its March-quarter net profit doubled year-on-year. Oil explorers such as ONGC and Oil India rose 0.5% and 1.5% respectively, as higher crude prices lifted realisation prospects. ($1 = 86.0810 Indian rupees) (Reporting by Bharath Rajeswaran in Bengaluru; Editing by Nivedita Bhattacharjee and Rashmi Aich)
Mint
11-06-2025
- Business
- Mint
Indian benchmarks close marginally higher, led by IT; financials cap gains
(Updates for markets close) June 11 (Reuters) - India's benchmark indexes inched higher on Wednesday, led by IT stocks on signs of progress in trade talks between the U.S. and its key trading partners, such as India and China, while profit booking in financials capped gains. The Nifty 50 rose 0.15% to 25,141.4 and the BSE Sensex added 0.15% to 82,515.14. Negotiators from the U.S. and China have agreed on a framework to get their trade truce back on track, pending final approval by their countries' leaders. Other Asian markets rose on the day, with the MSCI Asia ex-Japan index gaining 0.6%. Meanwhile, Indian and U.S. officials made progress on bilateral trade talks in New Delhi, focusing on industrial goods, agriculture, tariff reductions and non-tariff barriers, according to Indian government sources. Seven of the 13 major sectors logged gains. IT companies, which earn a significant share of their revenue from the U.S., rose 1.3%, logging gains for a sixth straight session. However, pressure on financials and banks , down 0.3% each, capped broader market gains as profit-booking persisted due to the recent record highs that came in the wake of the RBI's steep rate cut. "There can be a consolidation in markets after the fast and furious rally in the last few weeks, but the trajectory for domestic markets remains upwards," said Devang Mehta, director of equity advisory at Spark Capital PWM, citing growth support from the RBI on Friday and the positivity around the global trade talks. India's Nifty 50 has gained 3.3% since the start of May and is trading at its highest level since mid-October 2024. Among other stocks, liquor makers such as Radico Khaitan and United Spirits lost 3.8% and 6.6% after Maharashtra state hiked excise duty on Indian Made Foreign Liquor. BSE fell 4.1% after being placed under a National Stock Exchange framework, drawing a 100% margin on trades. The broader, more domestically focussed small-caps and mid-caps fell about 0.5% each, snapping seven-session and five-session winning streaks, respectively. ($1 = 85.4750 Indian rupees) (Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman and Sumana Nandy)
Yahoo
10-06-2025
- Business
- Yahoo
India's Raymond Realty to list in early July, top executive says
By Praveen Paramasivam and Bharath Rajeswaran (Reuters) -India's Raymond Realty, recently carved out from the namesake conglomerate, is on track to list in early July as the group looks to streamline its corporate structure, a top executive told Reuters on Tuesday. This will be Raymond's third publicly traded entity after Raymond Lifestyle, which houses the suits and shirts business. "The exact date (for the listing) is not confirmed yet, but it should be early July," Gautam Singhania, chairman and managing director of the group, said in an interview, without elaborating. Each shareholder will receive one share of Raymond Realty for every share held in Raymond, the group said previously. Raymond approved the demerger of Raymond Realty on May 1 and announced May 14 as the record date to determine eligible shareholders for the real estate business. The stock fell around 66% on May 14 because of a price adjustment after the demerger, but the decline was not a real loss for investors, just a technical revision in the share price. After adjusting for the demerger, Raymond's shares jumped nearly 23% in May, their biggest monthly gain since June 2024. Brokerage Systematix expects Raymond Realty to be priced at 1,076 rupees per share and forecast operating profit of 5.97 billion rupees ($69.7 million) in the ongoing fiscal 2026. The business reported a 45% rise in revenue to 23.13 billion rupees for the financial year ended March 31, with operating profit up 37% at 5.07 billion rupees. ($1 = 85.6150 Indian rupees) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Mint
10-06-2025
- Business
- Mint
Indian shares set to open higher on trade optimism, RBI policy support
June 10 (Reuters) - India's benchmark indexes are poised to open higher on Tuesday, buoyed by optimism around U.S.-China trade talks and domestic policy support. The Gift Nifty futures were trading at 25,247 as of 7:59 a.m. IST, indicating that the Nifty 50 will open above Monday's close of 25,103.20. The benchmark has risen 2.3% in four sessions and logged its highest close for 2025 on Monday. "Markets are continuing their upward momentum, buoyed by supportive domestic monetary policy and favourable global cues," Bajaj Broking Research analysts said in a note. Other Asian markets opened higher, with the MSCI Asia ex-Japan index gaining 0.5%. Wall Street equities closed mostly higher overnight and the U.S. dollar retreated as U.S.-China talks began in London, aimed at mending a trade dispute that has rattled financial markets for much of the year. U.S. President Donald Trump said he was getting good reports on progress in trade negotiations. Expectations of cooling global trade tensions and bumper monetary policy support from the Reserve Bank of India have aided a rally, two analysts said. This was reflected in the market as both foreign portfolio investors (FPI) and domestic institutional investors (DII) remained net buyers of Indian shares on Monday, with net inflows of 19.93 billion rupees ($232.7 million) and 35.04 billion rupees, respectively. ** ITD Cementation secures a new contract worth 8.93 billion rupees ** Jana Small Finance Bank submits application at the Reserve Bank of India seeking approval for transition to universal bank from small finance bank ** Zee Entertainment enters into a strategic partnership with Content Start-up Bullet to launch India's first micro-drama application ($1 = 85.6460 Indian rupees) (Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sonia Cheema)
Mint
09-06-2025
- Business
- Mint
Indias Nifty logs highest close of 2025 as RBIs policy support, trade optimism help
(Reuters) -Indian shares added to gains on Monday, lifted by the central bank's bumper monetary policy measures and signs of progress in U.S. tariff negotiations with its key trading partners. The Nifty 50 rose 0.4% to 25,103.2, an eight-month high, while the BSE Sensex gained 0.31% to 82,445.21. Twelve of the 13 major sectors advanced. High-weightage financials gained about 0.5%, while private banks and state-owned banks added 1% and 1.5%. The broader small- and mid-caps rose about 1.6% and 1.1%, respectively, with the small-caps turning positive for 2025 so far. "The market's positive movement reflects investor confidence, stemming from strong economic indicators, RBI's unexpected policy support," said Dharan Shah, Founder, - a research driven AI powered investment platform. Both the Nifty 50 and Sensex jumped about 1% each on Friday after the Reserve Bank of India cut the repo rate by a bigger-than-expected 50 basis points and lowered the cash reserve ratio by 100 bps. Other Asian markets advanced on the day, ahead of the U.S.-China talks in London aimed at mending a trade rift between the world's largest economies. [MKS/GLOB] Progress in U.S.-India trade talks also lifted investor spirit, as both countries seeked consensus on tariff cuts before a July 9 deadline, Indian government sources said. Renewed optimism over global trade has triggered another wave of buying in Indian equities, according to analysts. IT companies, which earn a significant share of revenue from the U.S., rose 1% as a robust U.S. jobs report on Friday also eased concerns over an economic slowdown. Among individual stocks, gold loan financiers such as Manappuram Finance and Muthoot Finance gained 7% and 4%, respectively, after the RBI eased gold loan rules. Bajaj Finance and Cholamandalam Investment rose 2.5% and 3.2% after multiple brokerages saw the RBI rate cut and CRR cut boosting non-bank lenders. ($1 = 85.6525 Indian rupees) (Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sonia Cheema and Sumana Nandy)
