Category: Market

Ola Electric’s flagship S1 series EV scooter has turned out to be a nightmare for several customers as they continue to face issues like malfunctioning hardware and glitching software even from day one after purchase.

Selling was seen in the midcap and smallcap stocks. Nifty midcap 100 index was down 375 points or 0.62 per cent at 60,089 and Nifty smallcap 100 index was down 104 points or 0.54 per cent at 19,252.

A mixed trend was seen in the midcap and smallcap stocks. Nifty midcap 100 index was down 200 points or 0.33 per cent at 60,650 and Nifty smallcap 100 index was up 34 points or 0.18 per cent at 19,473.

At 9:48 a.m., Sensex was up 75 points or 0.09 per cent at 85,004 and Nifty was up 25 points or 0.09 per cent at 25,964. It was the first time the BSE's benchmark traded above 85,000.

Bhavish Aggarwal-run Ola Electric shares nosedived further on Monday, as market analysts warned retail investors not to go bullish on the stock yet, owing to its speculative valuation amid rising competition.

The horticulture production in the country is estimated to reach about 353.19 million tonnes in 28.98 million hectares area in 2023-24, the new government data showed on Saturday.

At closing, Sensex was up 1,359 points, or 1.63 per cent, at 84,544 and Nifty was up 375 points, or 1.48 per cent, at 25,790. Nifty Bank was up 755 points, or 1.42 per cent, at 53,793.

On the transmission front, AESL is working on nine additional projects that it expects to complete over the next 18-24 months. These projects will help drive operational revenue from Rs 4,045 crore in FY24 to Rs 7,000 crore in FY27, representing a CAGR of 20.7 per cent.

India’s total exports during the April-August period are estimated at $328.86 billion, registering a positive growth of 5.35 per cent, data by the Ministry of Commerce and Industry showed on Tuesday. 

Indian equity indices closed with marginal gains as market investors shifted their focus to the US Federal Open Market Committee's policy meeting, starting later in the day on Tuesday.

India's wholesale price inflation further eased to a four-month low of 1.31 per cent in the month of August, compared to 2.04 per cent in July, as fuel prices turned negative and food prices went down, the government said on Tuesday.

Buying was seen in the midcap and smallcap stocks. The Nifty Midcap 100 index was at 59,640, up 702 points or 1.19 per cent and the Nifty Smallcap 100 index was at 19,354, up 192 points or 1.01 per cent.

At closing, Sensex was down 398 points, or 0.49 per cent, at 81,523 and Nifty was down 122 points, or 0.49 per cent, at 24,918. Selling was led by banking stocks. Nifty Bank was down by 262 points, or 0.51 per cent, at 51,010.

The Berth No 13 at Deendayal Port in Kandla will handle multipurpose cargo and is expected to be commissioned in FY27, India’s largest port developer-cum-operator said in a statement.

As the country geared up to organise the three-day ‘Semicon India 2024’ conference, top CEOs of semiconductor companies on Tuesday hailed Prime Minister Narendra Modi’s leadership, saying he has inspired not just India but the entire world.

In the Sensex pack, Reliance, Bharti Airtel, Tata Motors, Nestle, M&M, Power Grid, Bajaj Finance, L&T, JSW Steel, Sun Pharma, and UltraTech Cement were the top losers. Titan, Wipro, ITC, Infosys, Tata Steel, SBI, Asian Paints, and HDFC Bank were the top gainers.

The Indian startup ecosystem witnessed a surge in large funding rounds (over $100 million) in 2024, as startups' focus has shifted to profitability along with growth.

In the Sensex pack, ICICI Bank, Bajaj Finserv, Titan, Nestle, HDFC Bank, Wipro, SBI, M&M, L&T, Kotak Mahindra, and UltraTech Cement were the top gainers. Bajaj Finance, Infosys, JSW Steel, HCL Tech, IndusInd Bank and Bharti Airtel were the top losers.

The Cabinet on Monday approved a new 309-km railway line project worth Rs 18,036 crore to connect the commercial hubs of Mumbai and Indore through the shortest rail route.

In the Sensex pack, Bajaj Finserv, Bajaj Finance, HCL Tech, IndusInd Bank, ITC, UltraTech Cement, Axis Bank, Infosys, Asian Paints, SBI, Titan and Tech Mahindra were the top gainers.

The Union Cabinet, chaired by Prime Minister Narendra Modi, on Monday approved the proposal of Kaynes Semicon Pvt Ltd to setup a semiconductor unit in Sanand, Gujarat, with an investment of Rs 3,300 crore.

The Unified Payments Interface (UPI) saw 41 per cent growth (year-on-year) at record 14.96 billion transactions in the month of August, as total transaction amount touched Rs 20.61 lakh crore -- a 31 per cent YoY growth, the National Payments Corporation of India (NPCI) data showed on Sunday.

Surpassing world’s leading digital payments platforms, India’s Unified Payments Interface (UPI) processed nearly Rs 81 lakh crore transactions in the April-July period this year, which is a staggering 37 per cent increase (year-on-year).

The Indian equity market closed at an all-time high before the release of the GDP numbers at 5:30 P.M. on Friday. At closing, the Sensex was at 82,365, up 231 points or 0.28 per cent and Nifty was at 25,235, up 83 points or 0.33 per cent.

The Nifty Midcap 100 index closed at 58,883, down 262 points or 0.44 per cent, and the Nifty Smallcap 100 index closed at 19,214, down 105 points or 0.54 per cent.