Stock Market Updates

The sustained boom in global tech spending, a revival of local housing demand and a rebound in bank earnings are expected to be among the key drivers of gains for India’s stock market this year Analysts remain bullish, projecting a rise of about 15% for the NSE Nifty 50 Index over the next 12 months, according to sell-side estimates compiled by Bloomberg. That’s on top of the gauge’s 138% rally from its March 2020 low, the best performance among the world’s major equity markets for this period. Despite some concerns about lofty valuations and a gradual unwinding of easy-money policies, India’s benchmark is among those leading gains in Asia so far in 2022 with an advance of more than 4%. –   Here are the top sector and stock picks, according to some leading brokerages: Technology A gauge of the nation’s top 10 software providers has more than tripled from its pandemic low, as the crisis spurred the transformation of the way the world does business. While India’s leading IT c

The government taking a 35.8% holding in Vodafone Idea has surprised many. At a time when it looked poised to dilute its stakes in many public sector companies, the movie failed to excite the Street too, as the cash-strapped company’s shares dipped 21% yesterday. Experts also pointed out that ailing government-owned telecom giants MTNL and BSNL are also crying for attention. They are yet to roll out 4G services. In any case, the move might well provide Vodafone Idea with a rent of life. The third-biggest telecom transporter’s raising support plans are fundamentally postponed and Vodafone Group has made it clear it won’t make any new value imbuement into its Indian unit. Against this scenery, the public authority of India is set to turn into the single biggest investor in striving Vodafone Idea after the telco selected to change over revenue worth Rs 16,000 crore on conceded range liabilities and Adjusted Gross Revenue duty into value. It had recently acknowledged a four-year ban on the

On December 20, Brickwork Ratings [BWR) had upgraded the long-term rating to BWR BBB with a Stable outlook and short-term rating to BWR A3+ for the bank loan facilities of RSTL Shares of Rama Steel Tubes (RSTL) hit a new high, and were frozen at the 5 per cent upper circuit at Rs 412.90 on the BSE on Thursday in an otherwise weak market on improved demand outlook. Since December 20, 2021, in 13 trading days, the stock of iron & steel products company has zoomed 89 per cent from levels of Rs 218.25. Till 09:48 am; a combined 328,160 equity shares had changed hands and there were pending buy orders for 116,485 shares on the NSE and BSE. In comparison, the S&P BSE Sensex was down 1.3 per cent at 59,433. RSTL is Ieading manufacturer in the steel tube industry. RSTL products range includes MS ERW black pipes from 15mm to 200mm diameter pipes and G.l. Pipes from 15mm to 150mm NB in light, medium and heavy sizes. RSTL has a subsidiary in UAE and a step-down subsidiary in Nigeria which

India imported 1,050 tn gold worth ($55.7 bn) in 2021, more than double of 2020. Last year's gold import surpassed the high recorded in 2011. Find out what is behind India's renewed rush for gold? Indians will build on their love for gold this year, as pent-up demand heralds a period of robust sales. This was the main finding in the World Gold Council’s recent report – The Drivers of Indian Gold Demand. The report stated that imports remain strong and retail demand was expected to pick up, when pandemic restrictions were lifted across the country. Data from the previous year illustrates this point. India spent a record $55.7 bn on gold imports in 2021, buying more than double the previous year’s tonnage. The 2021 gold import bill also surpassed the previous high of $53.9 bn in 2011. Gold’s price drop favoured retail buyers and there was strong pent-up demand for weddings in October last year. “Rising incomes are one of the biggest single drivers of long-term gold demand. This s

Loss-making national carrier Air India was privatized last year. And the government is going ahead with LIC disinvestment this year. Find out the difference between these two terms The government sold Air India to the Tata group for Rs 18,000 crore last year. It got just 15% of the total amount while the rest went to the debtors. The Centre had been trying to offload its entire stake in the airline for years. And after the nod of the Cabinet Committee on Economic Affairs, the government is now taking LIC to the primary market to divest some of its stakes. The government says that it just wants to go for an IPO and not for privatisation. We have also heard our Prime Minister Narendra Modi saying that, “The government has no business being in business”. So the government’s intentions on privatisation and disinvestment are very clear. But are these two terms different? Let us start with disinvestment. It means the government or an organisation is liquidating or selling its stake in a comp

India's unemployment rate hit a four-month high in December, data from the Centre for Monitoring Indian Economy (CMIE) showed India's unemployment rate hit a four-month high in December, data from the Centre for Monitoring Indian Economy (CMIE) showed on Monday. The unemployment rate rose to 7.9% in December from 7.0% in November, its highest since 8.3% in August. Economic activity and consumer sentiment have been hit in the South Asian nation after a rise in cases of the Omicron coronavirus variant and social distancing restrictions in many states. Urban unemployment rate rose to 9.3% in December from 8.2% in the previous month while the rural unemployment rate was up 7.3% from 6.4%, the data showed. Many economists worry that the Omicron variant could reverse the economic recovery seen in the previous quarter. Mumbai-based CMIE data on unemployment is closely watched by economists and policymakers as the government doesn't release monthly figures.   Unemployment Rate 02 J