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Sensex, Nifty pare losses; metal shares advance for 6th day
The Nifty traded above the 23,950 mark. Metal shares extended gains for sixth consecutive trading session.
Nomura Asset, Capital Group, others buy 5.3% stake in Premier Energies for Rs 2,291 cr
Global financial institutions and Indian mutual funds have bought a 5.3 percent stake in Premier Energies. The deal involved promoters selling shares worth over Rs 2,291 crore. This investment comes as Premier Energies secured significant orders for solar cells and modules. The company is expanding its manufacturing capacities for cells and modules.
Premier Energies shares in focus as promoters sell stake worth Rs 2,289 crore. Check top buyers
Promoter family members of Premier Energies sold shares worth around Rs 2,289 crore through a block deal, while institutional investors, including Quant Mutual Fund and Nomura, picked up stakes. The development comes amid strong investor interest in renewable energy and domestic solar manufacturing, supported by robust earnings growth and aggressive capacity expansion plans.
Premier Energies bulk deal: Promoters sell stake worth Rs 2,289 crore; Quant, Nomura among top buyers
Premier Energies' promoters divested shares worth nearly Rs 2,289 crore to institutional investors, including Smallcap World Fund and Quant Mutual Fund. This move coincides with heightened interest in India's solar manufacturing sector, driven by policy support and robust earnings. The company is aggressively expanding its module and cell capacities, with analysts maintaining a positive outlook.
Market Trading Guide: Buy Zydus Lifesciences, Solar Industries on Friday for gains up to 15%
Nifty 50 closed higher for a second straight session, driven by banking, metal and pharma stocks despite IT weakness. Analysts see 23,800 as a crucial resistance level, while recommending Zydus Lifesciences and Solar Industries India for near-term gains on strong technical indicators and bullish momentum.
India Stocks Open Higher on Global Cues; Energy and Metal Stocks Advance - Investing.com India
India Stocks Open Higher on Global Cues; Energy and Metal Stocks AdvanceInvesting.com India
Government raises import duty on gold and precious metals
The government on Wednesday hiked import duties on gold and silver to 15 per cent from 6 per cent as part of measures to curb inbound shipments of precious metals amid a rising import bill due to the West Asia crisis, the finance ministry notified. The revised rates came into effect on 13 May. Days after Prime Minister Narendra Modi's clarion call for curbs on gold purchases, along with other austerity measures to save on foreign exchange, the Finance Ministry, in a notification, hiked the social welfare surcharge (SWS) and the agriculture infrastructure and development cess (AIDC), effective May 13. The duty hikes will raise the overall customs duty on gold to 15 per cent. Separately, the Finance Ministry also revised customs duty rates for precious metal findings and recyclable precious metal waste. Under the revised structure, gold and silver findings will attract a 5% customs duty, while platinum findings will face a 5.4% duty. Imports of spent catalysts or ash containing ...
Abakkus trims banking exposure, adds solar and power-linked capital goods stocks
Aman Chowhan, Fund Manager at Abakkus Asset Manager, which manages assets worth nearly $2.06 billion, said the sharp market rebound over the past few weeks has caught many investors by surprise, even as the fund stayed selectively bullish through the correction. The Mumbai-based AMC increased exposure to renewable energy, power-linked capital goods and select metal plays, while trimming some banking exposure. Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
Sensex, Nifty trade near flatline; European mrkt advance
Auto, media and metal shares advanced while FMCG, IT and PSU Bank shares declined.
Baroda BNP Paribas MF sees easing crude boosting rate-sensitive stocks, chemicals
Baroda BNP Paribas Mutual Fund Senior Fund Manager Jitendra Sriram said softer crude prices could improve sentiment for India and support interest rate-sensitive sectors. He believes refining, oil marketing and select specialty chemical companies may benefit if West Asia tensions ease. Sriram also cautioned that higher raw material and logistics costs may pressure corporate earnings over the next few quarters despite resilient recent results. Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
HDFC Securities cuts exposure to auto stocks, adds financials and chemicals
Varun Lohchab, Head - Institutional Research at HDFC Securities, said the brokerage is turning more constructive on markets as risk-reward improves across sectors after sustained FII selling. He remains positive on financials and select chemical stocks like SRF, Neogen Chemicals and Aether Industries, while turning cautious on automobiles due to margin pressure from rising metal costs.
Vedanta remains top metal pick for Kotak, who upgrades NALCO, Hindalco too
Kotak has upgraded its stance on NACL Industries and Hindalco Industries, factoring in recent price tailwinds, updated commodity assumptions, and revised foreign exchange forecasts.