Indian stock market made a banger opening on April 1, starting FY25 by hitting new all-time highs. Sensex touched a new historic high of 74,254.62, while its counterpart Nifty 50 shot up to record high of 22,529.95.
Stocks like JSW Steel, Tata Steel, Kotak Bank, Asian Paints and HDFC Bank were top gainers. While Bharti Airtel, Maruti Suzuki, and IndusInd Bank were the only laggards.
India's volatility index dipped by 2%.
Nifty Midcap and Smallcap surged between 1-2%. While all sectoral indices were in positive with financials, media, metals, PSU banks, realty, and consumer durable stocks emerging as top gainers.
Market ended FY24 on a strong note. As of March 28, 2024, BSE-listed firms' market cap stood at Rs 386.97 lakh crore.
In a year, the 30-scrip benchmark is up by a massive 15,675.39 points or 27.055, while Nifty 50 skyrocketed by 5,246.20 points or 30.71%. In FY24, Sensex touched its all-time high of 74,245.17, and Nifty 50 clocked its lifetime high at 22,526.60.
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Apr 01, 2024, 2:33 pm IST
Tata Motors Mar local sales 90822, up 1.6% YoY
Tata Motors reported commercial vehicle sales of 42,262 units and passenger vehicle sales of 50,297 units for March. Total sales reached 2.66 lakh units, up from 2.52 lakh units last year.
Apr 01, 2024, 2:00 pm IST
Foods & Inns Ltd. Has Successfully Received The 2nd Tranche Of Incentives From The GOI
Foods and Inns Ltd. has successfully received the 2nd tranche of incentives from the Government of India, totaling Rs. 15.69 crores, under the Production Linked. Incentive (PLI) scheme for the fiscal year FY’22-23 on the 31st of March 2024 (Rs.9.71crs was received as incentives for FY’22 in July 2023). This achievement marks a significant milestone for our company, reaffirming the company's commitment to excellence and our vision for growth. It is important to note that a portion of the incentives (10% of eligible incentives) for FY’22 and FY’23, amounting to Rs. 1.09 crores and Rs. 1.75 crores respectively, has been withheld by the government. This amount totaling Rs. 2.84 crores will be received along with our incentives for FY’24 or earlier upon completion of the site inspection and issuance of the completion certificate by the Ministry of Food Processing.
Apr 01, 2024, 1:44 pm IST
OPINION: Why Nifty 50 And Gold Prices Are Hitting Record Highs Simultaneously?
In a knee-jerk reaction, India's main equity benchmark Nifty 50 hit a record high on the first day of this financial year at 22,529.95 led by Nifty Bank and financial services. What is surprising is that gold prices also touched an all-time-high at Rs 63,600 for 10 grams of 22 carats today widely driven by the anticipated US Federal Reserve's interest rates cut in the coming months and geo-political unrest in the world.
Wardwizard Foods and Beverages Limited Embarks on US Market Expansion, Secures USFDA Registration
Wardwizard Foods and Beverages Limited is pleased to announce its upcoming foray into the US market following the acquisition of USFDA registration. The diversification of Wardwizard Foods and Beverages Limited’s product offerings encompasses a wide array, including RTE (Ready-To-Eat) meals, frozen products, spices, sauces, condiments, and beverages. Effective from the commencement of the new Financial Year 24-25 Quarter 1, Wardwizard Foods and Beverages Limited will commence exporting to United States. The initial phase will focus on key cities including Chicago, New Jersey and Texas, where consumers will have the chance to indulge in the rich and authentic tastes of India's culinary offerings. Sheetal Bhalerao, Chairperson and Managing Director of Wardwizard Foods and Beverages Limited, expressed, "We are truly elated to embark on this exhilarating journey of exporting our products to the USA, a market renowned for its discerning taste and unwavering standards. This achievement is a clear reflection of our steadfast dedication to delivering the authentic flavours of India to consumers worldwide. The attainment of USFDA registration stands as a proud validation to our steadfast commitment to product quality and regulatory compliance. This certification not only reaffirms the exceptional quality of our products but also underscores our strict adherence to stringent food safety standards, instilling unwavering confidence among consumers and stakeholders alike."
Apr 01, 2024, 1:06 pm IST
Airtel Expands Its Network Footprint In Kannur & Kasaragod District Under Its Rural Enhancement Project
Airtel, one of India's leading telecommunications service providers, today announced that it has deployed additional sites in Kannur and Kasaragod districts to densify its network. The network enhancement project was undertaken across 31 towns and 218 villages covering an 11.7 lakh population base. The additional sites will further augment customer experience in this region on both voice and data connectivity. This expansion will enable seamless access to highspeed connectivity, a massive service for customers in rural & smaller towns in Kannur and Kasaragod thereby ensuring a reliable mobile network for work, study, and entertainment. In this year alone, Airtel has doubled down on its commitment to the state and has invested additional capex to enhance its network connectivity for seamless experience on 4G, 5G, Broadband, and Fiber.
Apr 01, 2024, 12:40 pm IST
ACC ranked 1 and Ambuja Cement 2 by TRA Research in Brand Trust Report 2024
ACC and Ambuja Cement, India's leading cement manufacturing companies and part of the diversified Adani Portfolio, have been ranked as ‘India's Most Trusted Cement Brands’ by TRA Research in its Brand Trust Report 2024: ACC is No. 1 and Ambuja Cement 2. This is the third consecutive year Ambuja Cement has featured on the coveted list; ACC has held the top spot for the past two years. This recognition marks an important milestone for both brands, cementing their position as the most trusted names in the industry. Through their focus on innovation, sustainability, and customer-centric solutions, they have exceeded expectations and solidified their reputation as a trusted name. Mr. Ajay Kapur, CEO of Cement Business, Adani Group, said, “We are recognized honored to be recognised as ‘India’s Most Trusted Cement Brands’. This is the result of our consistent focus on quality, sustainability, and customer-centricity with competitiveness, and
the trust we have built with stakeholders. At the heart of our success lies a relentless pursuit of exceeding the expectations of customers while steadfastly upholding responsibility towards the environment. We are grateful for the trust and confidence that consumers have placed in us and remain committed to upholding the highest standards of excellence."
Apr 01, 2024, 12:22 pm IST
Top 5 Gainers and Losers Today
Stock Market Live Updates
Apr 01, 2024, 12:09 pm IST
HAL Registers Double Digit Growth With Record Revenues For FY2023-24
HAL recorded the highest ever revenue from operations of over Rs. 29,810 crores (provisional and unaudited) for the financial year .ended on March 31, 2024 registering a double digit growth of around 11% as against 9% in the previous financial year. The corresponding figure for the
previous year was at Rs. 26,928 crores. HAL received fresh manufacturing contracts of over Rs 19,000 crores and ROH contracts of over Rs 16,000 crores during FY 2023-24. An export contract with Guyana Defence Forces for supply of 2 Nos. Hindustan228 aircraft was signed in the current FY 2023-24 and both the aircraft have been supplied in record time within a month of signing of contract due to proactive approach of the Company. "Despite the major supply chain challenges arising due to geopolitical issues, the Company has met the expected revenue growth with improved performance for the entire year. As on March 31, 2024, Company's order book stands in excess
of Rs 94,000 crores with additional major orders expected during FY 2024-25", said Mr C. B. Ananthakrishnan, CMD(Addl Charge), HAL.
Apr 01, 2024, 12:04 pm IST
TCI Industries Shares In Focus
The company has issued and allotted 6250 nos. of 0% Non-Convertible Redeemable Preference Shares (NCRPS) of the face value of Rs. 100/- each at a premium of Rs. 300/- each on a Private Placement basis.
Apr 01, 2024, 11:17 am IST
Coal India Shares In Focus
With effect from March 31, 2024 (AN), Shri Soumitra Singh resigned from her position as Executive Director (Solar) of Coal India Limited upon reaching the age of superannuation. In compliance with Regulation 30 of the SEBI (LODR) Regulations 2015 and the SEBI (Prohibition of Insider Trading) Regulations 2015, this disclosure is being made.
Apr 01, 2024, 10:50 am IST
NTPC Shares In Focus
The second and final part capacity of the 150 MW Chhattargarh Solar PV Project in Bikaner, Rajasthan, of NTPC REL, a step-down subsidiary of NTPC Limited through its wholly owned subsidiary NTPC Green Energy Limited, is declared to be in commercial operation on March 29, 2024, following successful commissioning and the necessary approvals. Commencing on February 21, 2024, the initial part capacity of 70 MW has already been declared for commercial operation.
Apr 01, 2024, 10:22 am IST
EaseMyTrip Acquires ETrav Tech
A strategic investment of 4.94% (post-allotment) of the paid-up equity share capital of ETrav Tech Limited has been made by EaseMyTrip.com in the company. The acquisition translated as a cash agreement as part of the brand's expansion goal to broaden its portfolio. “The primary objective of this strategic investment is to acquire a minority interest and strengthen EaseMyTrip’s B2B segment offerings, catering to the diverse requirements of its corporate clients,” said the company in a regulatory filing today.
Apr 01, 2024, 9:44 am IST
Rupee Outlook
Rahul Kalantri, VP Commodities, Mehta Equities: The USDINR 26 April futures contract extended its gain last week. As per the weekly technical chart, we observed that the pair is trading above its moving average trend-line support level of 83.05 and RSI is fetching above 50 levels. Looking at the technical set-up, MACD is showing a positive divergence and the pair is sustaining above 83.05 levels. As per the weekly technical chart the pair is having support at 83.22-83.05 while resistance is placed at 83.60-83.85. The pair is trading above its support level of 83.05 and is expected to trade in the range of 82.80-84.10 in this week. We suggest closely watching the levels of 83.22-83.55 for taking fresh positions in the pair; either side breakout of the range could give further directions.
Apr 01, 2024, 9:40 am IST
Top Performers
Stocks like JSW Steel, Tata Steel, Kotak Bank, Asian Paints and HDFC Bank were top gainers. While all sectoral indices were in positive with financials, media, metals, PSU banks, realty, and consumer durable stocks emerging as top gainers.
Apr 01, 2024, 9:40 am IST
Nifty 50 New Lifetime High
NIfty 50 following bullish trends touched a new lifetime high of 22,529.95. The index opened at 22,455 compared to its previous session's print of 22,326.90.
Apr 01, 2024, 9:39 am IST
Sensex New Historic High
Sensex hit a new lifetime high of 74,254.62. The 30-scrip benchmark opened at 73,968.62, before flying high to new levels. On the previous day, the benchmark was at 73,651.35.
Apr 01, 2024, 9:20 am IST
Rupee falls 0.26 paise against US Dollar
Indian Rupee witnessed decline of 0.26 paise against US Dollar in morning trade on Monday.
Apr 01, 2024, 8:55 am IST
Nifty, Bank Nifty Support And Resistance Today
On April 1, Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher expects Nifty Spot Index to find support at 22,200 and resistance around 22,500. While Bank Nifty is expected to find support at 46,700, and resistance around 47,600.
Apr 01, 2024, 8:55 am IST
Key Factors For Market
Trading in the Indian stock market this week will be influenced by a flurry of big data such as US PMI and US, factory orders, US unemployment data, and RBI's first bi-monthly policy for FY25 where another status quo is expected.
Apart from global trends and economic data, industry and stock-specific performances will be seen due to auto monthly sales, metal monthly production figures, and betting ahead of the Q4FY24 earnings season.
Apr 01, 2024, 8:54 am IST
Market May See Positive Start
A positive candlestick is appearing as traders are buying in global shares after US inflation data backed bets for easing in policy by the US Federal Reserve this year with sooner-than-expected rate cuts.
Shares of KOSPI, Hang Seng and Shanghai Composite gained momentum after China's factory activity expanded for the first time in six months. However, Japanese shares tumbled after a confidence report weakened for the first time in four quarters.
While US market last week was higher with the S&P 500 netting its strongest first quarter in five years.
Apr 01, 2024, 8:18 am IST
Market In FY24
Market ended FY24 on a strong note. As of March 28, 2024, BSE-listed firms' market cap stood at Rs 386.97 lakh crore. On the last trading day of FY24, Sensex surged by 655 points to settle at 73,651, while the Nifty 50 climbed by 203 points to reach 22,327. In a year, the 30-scrip benchmark is up by a massive 15,675.39 points or 27.055, while Nifty 50 skyrocketed by 5,246.20 points or 30.71%. In FY24, Sensex touched its all-time high of 74,245.17, and Nifty 50 clocked its lifetime high at 22,526.60.
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