Bikaji Foods rises 9% as it nears record high on heavy trade
OPEC meeting sets direction for India’s Russian crude purchases as May levels remain high
Swan Energy shares fall 5% after fourth-quarter net profit falls
Wipro shareholders oppose severance package for outgoing CEO Delaporte
Here’s why Welspun Corp is trading lower today. Learn more.
Swan Energy shares fall 5% after fourth-quarter net profit falls
This recently listed IPO has risen 35% in three days and is up 144% from its IPO price.
Muthoot Finance shares rise 4% to test highest since Q4; analysts optimistic
M&M, Bajaj Auto: Nomura’s picks ahead of May sales data release
RBI transfers 100 tonnes of gold from UK to Indian vaults
Larsen & Toubro rises 3% on positive outlook, shares up 14% in 3 weeks
Larsen & Toubro shares rose 3 per cent to Rs 3,743.10 in intraday trade on the BSE on Friday, extending gains on a robust business outlook. In the last three weeks, shares of the engineering and construction (E&C) major have surged 14 per cent. In comparison, the S&P BSE Sensex has risen 2.4 per cent in the same period. The stock hit an all-time high of Rs 3,859.65 on April 2, 2024.
L&T is India’s largest E&C company, involved in EPC projects, high technology manufacturing and services. The company operates primarily across infrastructure, heavy industries, defence engineering, power, hydrocarbon and services business segments. Infrastructure segment contributes around 45% of the consolidated revenues, followed by services (30%) and international markets (25% of the order backlog is from international markets). read more
FIIs turn bearish ahead of exit poll results on June 1. Index short at 87.13%
Foreign Institutional Investors (FIIs) are extremely bearish ahead of the Indian Lok Sabha election results, which are due to be announced on June 4. Exit poll results are expected to be released gradually from Saturday, June 1 onwards.
As the Nifty slumped nearly 1 per cent again on Thursday, FIIs built up aggressive short positions in index futures in the derivatives sector. Their index long-short ratio, which was 0.98, suddenly plummeted to 0.15 and index shorts rose to 87.13 per cent after the expiry of the May contract. read more
Asian stocks rise, yen steadies, dollar weakens, inflation challenges await
Asian stocks rose on Friday, on track to extend their winning streak to a fourth straight month, while the dollar weakened and the yen held steady as investors await European and U.S. inflation data that is likely to shape the course of global interest rates.
A downward revision to consumer spending meant the U.S. economy grew more slowly than expected in the first quarter, according to data released on Thursday, weighing on Treasury yields and the dollar. [FRX/] [US/] read more
Reserve Bank of India to postpone interest rate cut until later this year: poll
The Reserve Bank of India is set to cut interest rates just once this year, likely in the October-December period rather than next quarter, but there was no clear majority among economists polled by Reuters on the timing of the first cut.
With many major central banks, including the U.S. Federal Reserve, likely to delay interest rate cuts, the RBI has little advantage in getting ahead of the curve. read more
