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Shipowners seek clarity on Strait of Hormuz deal as 600 vessels eye exit
Shipowners and traders are cautiously awaiting details on a potential reopening of the Strait of Hormuz, a vital oil and gas route disrupted by conflict. While a US-Iran deal is announced, concerns about safety, mines, and Iranian actions persist, leaving hundreds of vessels stranded and global energy trade in limbo.
Mcap of 8 most valued firms surges by ₹1.90 trn, ICICI Bank shines
The combined market valuation of eight of the top-10 most valued firms surged by Rs 1.90 lakh crore last week, with ICICI Bank stealing the show, in tandem with a rally in equities. Last week, the BSE benchmark Sensex jumped 1,284.61 points, or 1.73 per cent, and the NSE Nifty surged 256.2 points, or 1 per cent. "Indian equity markets ended a volatile week on a strong note, snapping a two-week losing streak amid improving global sentiment and supportive measures from the Reserve Bank of India (RBI) aimed at attracting foreign currency inflows," Ajit Mishra, SVP, Research, Religare Broking Ltd, said. Investor confidence improved on optimism surrounding a potential USIran peace deal, which raised hopes of easing geopolitical tensions and stabilising energy markets, he added. From the top-10 pack, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Bajaj Finance, Larsen & Toubro and Hindustan Unilever were the winners, while Tata Consultancy Services (TCS)
Sterlite Tech, HFCL shares rally up to 5% after 2-day fall. What’s triggering the surge?
Shares of HFCL and Sterlite Technologies surged up to 5% on Friday, recovering from a two-day decline. This rebound follows a global tech stock recovery and is driven by India's booming data center industry, fueled by digitalization and AI demand. Both companies, key players in optical fiber cable manufacturing, are poised for further growth, with analysts maintaining positive outlooks.
Crude oil prices rally after Iran closes Strait of Hormuz following US strikes; Brent oil near $95 a barrel
Concerns over a potential blockade of the Strait of Hormuz — a key maritime route that facilitates nearly one-fifth of global oil and gas shipments — have kept crude oil prices elevated.
Govt Forgoes Rs 1.23 Lakh Crore To Support OMCs After Petrol, Diesel Duty Cuts: Sources
The aid comes amid a global energy disruption triggered by the West Asia war and blockade of key maritime shipping route Strait of Hormuz.
FPI inflows into FAR securities rise by Rs 8,795 cr after govt tax exemption move
Foreign investors are pouring money into Indian government bonds. This follows a tax exemption on interest and capital gains for investments in Fully Accessible Route securities. The government's move aims to attract foreign capital and support the rupee. These measures are opening up India's bond market to global investors. This is a significant development for India's debt market.
FPI inflows into FAR securities rise by ₹8,795 crore after tax exemption
Foreign portfolio investors (FPIs) have invested Rs 8,794.743 crore in government securities under the Fully Accessible Route (FAR) after the government exempted them from income tax on interest income and capital gains arising from investments in these bonds. According to data from the Clearing Corporation of India Ltd (CCIL), FPI holdings in FAR securities stood at Rs 3.32 lakh crore on Tuesday, up from Rs 3.23 lakh crore on June 3. FAR allows non-resident investors to invest in specified Government of India dated securities without any investment ceilings. "We can see the optimism from FPIs who nearly invested 75 per cent of the net purchase in G-secs under FAR category recorded during April & May. It also strengthens India's case for inclusion in major global bond indices, such as Bloomberg's sovereign bond index, whose inclusion decision was deferred earlier this year," said Mataprasad Pandey, vice-president at Arete Capital. The government on June 5 promulgated an ordinance
Stocks in news: Bharti Airtel, Vodafone Idea, NLC India, Motilal Oswal, HCL Tech
Indian markets saw a sharp decline on Monday amid global worries and geopolitical tensions. Nifty moved closer to a key support level. Several companies were in focus. NLC India announced an Offer for Sale. Motilal Oswal saw promoter share sales. HCL Tech launched an AI zone with Google Cloud. IRCTC resumed cooking on trains. IGL has a new MD.
Sterlite Tech shares slide 5% after rallying 56% in one month. Here's why
Sterlite Technologies shares hit the lower circuit on Monday as a sharp global selloff in AI and technology stocks dented investor sentiment. The decline comes after the stock's stellar 474% rally in 2026 and a 56% gain over the past month, with shares locked at Rs 588.30 on the NSE amid profit-booking and weakening AI optimism.
Eternal to ICICI Bank: 15 stocks on Axis Securities buy list for June
Axis Securities has identified 15 stocks for investors to consider in June. These picks span large, mid, and small-cap segments, offering potential gains up to 44%. The brokerage remains optimistic about India's economy despite global challenges. Key recommendations include Eternal, Bharti Airtel, and ICICI Bank. Financials, consumption, and infrastructure-linked businesses are favored.
Top Gainers & Losers on June 2: Newgen Software Tech, Concord Biotech, TCS, HFCL, NMDC among top gainers
On June 2, Indian stocks rebounded with benchmarks up over 0.5%, driven by technology shares. The Nifty 50 and Sensex closed at 23,506 and 74,692, respectively. However, India fell to seventh in global market capitalisation due to overseas selling and weak earnings growth.
ArcelorMittal Nippon Steel India gets first PM-SETU nod; Andhra Pradesh leads industry-driven ITI overhaul
ArcelorMittal Nippon Steel India secured the first Strategic Investment Plan approval under the Pradhan Mantri Skilling and Employability Transformation through Upgraded ITIs scheme. This marks a significant step in modernizing vocational education through industry partnerships. Andhra Pradesh leads as the first state to operationalize an industry partnership under the PM-SETU initiative. The program aims to transform 1,000 government ITIs nationwide.