Market News
Stay updated with the latest market trends, earnings, and economic indicators.
INR regains momentum with all eyes on RBI monetary policy
The Indian rupee is regaining some momentum in opening trades on Friday as the global crude oil prices eased and market participants keenly awaited the RBI's MPC decision today. Heightened geopolitical tensions between the US and Iran drove energy volatility and aggressive safe-haven buying capped sharp gains in the local unit. INR opened at Rs 95.72 per dollar and hit a high of 95.63 so far during the day. Yesterday, rupee depreciated 7 paise to close at 95.83 against the US dollar. Local markets opened in the green with investors closely watching the Reserve Bank of India (RBI) monetary policy announcement scheduled for today. The Indian benchmark indices are trading higher today, with the NIFTY 50 hovering around 23,442.30 (+0.11%) and the S&P BSE SENSEX trading at 74,556.68 (+0.26%).
Clean energy sector to add over 44 lakh jobs by 2030: Study
India's clean energy sector is set to generate over 44 lakh jobs by 2030. Rooftop solar will be the biggest job creator, accounting for nearly 43 percent of these positions. This growth aligns economic progress with sustainability goals. The nation ranks third globally in renewable energy capacity. Focus on skilling and inclusion is vital for quality livelihoods.
Inox Clean Energy buys Vena's India energy business for Rs 6,000 crore
Inox Clean Energy is acquiring Vena Energy India's 6 GW renewable energy portfolio. This deal significantly expands Inox Clean's operational and development pipeline. The company is building an integrated clean energy platform through strategic buyouts and greenfield investments. Inox Clean aims for 10 GW of renewable generation capacity and 11 GW of solar manufacturing by FY28.
India eyes Venezuelan upstream & downstream energy sectors; Modi-Gomez explore partnership in critical minerals & mining too
India is seeking a long-term energy partnership with Venezuela. Prime Minister Narendra Modi held talks with Venezuela's acting President Delcy Eloina Rodriguez Gomez. Discussions covered crude oil supply diversification and cooperation in critical minerals. Both nations also explored expanding commercial ties in pharmaceuticals, agriculture, and transportation. A technical team from India will visit Venezuela soon to explore opportunities further.
INR settles lower as prolonged West Asia crisis poses a major risk for India; RBI eyed
The Indian rupee depreciated 7 paise to close at 95.83 (provisional) against the US dollar on Thursday, as heightened geopolitical tensions between the US and Iran drove energy volatility and aggressive safe-haven buying. The prolonged West Asia crisis poses a major risk for India, which relies heavily on energy imports. Market participants are now turning their attention to the Reserve Bank of India's MPC rate decision on June 5, as inflation, growth and the rupee are under focus. The six-member MPC, headed by RBI Governor Sanjay Malhotra, will announce its decision on June 5. Indian equity benchmarks ended flat but resilient today, recovering from early intraday losses. The NSE Nifty 50 closed marginally higher by 10.95 points (0.05%) at 23,416.55, while the BSE Sensex inched up 13.84 points (0.02%) to finish at 74,360.01. The primary catalysts for the market recovery were breaking news of potential tax concessions for foreign institutional investors (FIIs) and tentative signs of ..
Japanese stocks retreat from record highs
Local markets tracked weakness in US futures after chipmaker Broadcom issued a downbeat outlook, dampening sentiment across the tech sector. Renewed tensions between the US and Iran also weighed on investor confidence, pushing energy prices higher and keeping inflation and interest-rate concerns in focus.
Top Gainers & Losers on June 4: Physicswallah, Anant Raj, Force Motors, Hitachi Energy, Voltas among top gainers
The Nifty 50 and Sensex closed 0.14% and 0.03% higher at 23,396 and 74,368, respectively. The broader market, however, outperformed the benchmark indices, with both the Nifty Midcap 100 and Nifty Smallcap 100 indices rising 0.43% and 0.52%, respectively.
Hitachi Energy, GVTD to CG Power: Citi is bullish on these electric equipment stocks. Should you buy?
Citi estimates HVDC projects alone could represent an opportunity of around ₹1.6 trillion for equipment manufacturers. The brokerage also expects global transmission and distribution capital expenditure to exceed $15 trillion between CY25 and CY50.
Citi initiates coverage on 4 Indian power equipment stocks; sees up to 33% upside. Own any?
Citi Research initiated coverage on four Indian electrical equipment makers, seeing strong domestic transmission buildout and accelerating HVDC adoption as key growth drivers. The firm issued 'Buy' ratings on Hitachi Energy India, GE Vernova T&D India, and CG Power and Industrial Solutions, with a 'Neutral' call on Siemens Energy, citing significant OEM opportunities and export potential.
Tata Power Company Ltd down for fifth straight session
Tata Power Company Ltd is quoting at Rs 411, down 0.18% on the day as on 13:19 IST on the NSE. The stock jumped 4.43% in last one year as compared to a 5.65% slide in NIFTY and a 12.98% spurt in the Nifty Energy index.
Reliance Power Ltd soars 1.37%, up for third straight session
Reliance Power Ltd is quoting at Rs 27.45, up 1.37% on the day as on 12:49 IST on the NSE. The stock is down 54.92% in last one year as compared to a 5.46% gain in NIFTY and a 13.15% gain in the Nifty Energy index.
ABB India Ltd spurts 1.57%, rises for third straight session
ABB India Ltd is quoting at Rs 7309, up 1.57% on the day as on 12:49 IST on the NSE. The stock is up 21.18% in last one year as compared to a 5.46% fall in NIFTY and a 13.15% fall in the Nifty Energy index.