India Financial News

The NSE Nifty index was trading 162.71 points down at 21893.0, while BSE Sensex was down 506.59 points at 72241.83 at the time of writing this report.

style disruptors who added flair to The Economic Times Awards for Corporate Excellence 2023. Here, style transcended fashion, with attendees showcasing their sartorial choices through haute couture, bold colours and attention to detail.

Dangee Dums Ltd.(up 1.10%), Vadilal Industries Ltd.(up 0.91%), Euro India Fresh Foods Ltd.(up 0.71%), Sheetal Cool Products Ltd.(up 0.50%), Adani Wilmar Ltd.(up 0.42%), JHS Svendgaard Laboratories Ltd.(up 0.28%), Hatsun Agro Products Ltd.(up 0.18%), Bajaj Consumer Care Ltd.(up 0.16%), Tasty Bite Eatables Ltd.(up 0.09%) and Parag Milk Foods Ltd.(up 0.08%) were among the top gainers.

On the BSE, Jetmall Spices(down 10.96 per cent), Vijay Textiles(down 10.34 per cent), Gogia Capital(down 9.99 per cent), Goldcoin Health Fds.(down 9.95 per cent) and Kiran Syntex(down 9.32 per cent) were among the stocks that plunged over 5 per cent during the session.

Domestic benchmark index NSE Nifty fell 172.46 points to 21883.25, while the BSE Sensex traded 539.74 points down at 72208.68.

Companies say it is a win-win for them too as they get to retain valuable talent, cultivate a more skilled workforce from within, and save time and money on external hiring.

investors continue to pour money into stocks and equity funds, asset managers are raising more cash in their portfolios. February month data shows that the total cash pile at equity mutual funds rose for the second consecutive month to 4.82% of total assets under management (AUM) at Rs 1.33 lakh crore. SBI Mutual Fund was sitting at a war chest of Rs 25,100 crore and ICICI Prudential AMC Rs 21,700 crore. HDFC Mutual Fund's cash pile of nearly Rs 19,000 crore is about 6.8% of its AUM, shows data pulled from ACE Equity.

TMC leader Derek O'Brien on Tuesday said the party wants Supreme Court-monitored Lok Sabha polls as BJP's tricks are «destroying» institutions like the Election Commission. The TMC party leader in Rajya Sabha wondered whether the BJP is so nervous of facing the people that it is turning the EC into «its party office». «BJP's filthy tricks destroying institutions like Election Commission of India. Are BJP so nervous to face people that they are turning ECI into a party office to target Opposition? ECI or His Master's Voice?» He posted on X. «Transferring officers of elected state governments! For free and fair elections. We want Supreme Court-monitored Election 2024», he further said.

Popular Vehicles and Services debuted on the exchanges with a discount of 2% on Tuesday. The stock listed at Rs 289.2 on NSE, compared to an offer price of Rs 295. Meanwhile, the stock listed at Rs 292, down 1% on BSE. Ahead of the listing, the company's shares had no premium in the unlisted market.

Krystal Integrated Services is likely to finalise the share allotment today. The issue was booked 12 times at close on strong interest from non-institutional investors. Investors can check the status of their share allotment on the BSE or even by logging in to the registrar website. Firstly, here's how you can know the status on BSE

Sanjeev Bikhchandani, Co-Founder, Info Edge, talking to ET Now at the sidelines of startup mahakumbh says: “McKinsey in collaboration with CII released a report about which there was a discussion here also, which is called Unicorn 2.0 and that report said that in the last 10 years, roughly 13% to 15% of India's GDP growth has come from the startup ecosystem. In my view, that is a conservative estimate and this number is likely to go up as we go along”.

The Nifty future closed flat at 22134 levels on Monday. India VIX was up by 1.50% from 13.69 to 13.90 levels.

Begusarai emerged as the world's most polluted metropolitan area while Delhi was identified as the capital city with the poorest air quality, according to a new report. With an average annual PM2.5 concentration of 54.4 micrograms per cubic metre, India had the third worst air quality out of 134 countries in 2023 after Bangladesh (79.9 micrograms per cubic metre) and Pakistan (73.7 micrograms per cubic metre), according to the World Air Quality Report 2023 by Swiss organisation IQAir. In 2022, India was ranked as the eighth most polluted country with an average PM2.5 concentration of 53.3 micrograms per cubic metre. Begusarai stood out as the most polluted metropolitan area globally with an average PM2.5 concentration of 118.9 micrograms per cubic metre. The city did not even figure in the 2022 rankings.

National Asset Reconstruction Company (NARCL) is declared the winning bidder for a majority debt of Wind World (India) following an uncontested Swiss challenge auction held by lenders on Monday, said people with knowledge of the matter. NARCL gave a binding offer of Rs 670 crore to acquire Rs 3763 crore debt from lenders, according to a sale notice that did not name the ARC. The offer from NARCL—which is a 15:85 structure—equated to an 18% recovery from lenders. Under the structure, 15% of the consideration is cash, and the balance is in the form of security receipts (SR) payable on loan recovery.

TCS, Reliance Industries, and Infosys, while Asian peers declined ahead of key central bank decisions from Japan and the U.S. The BSE Sensex was trading 366 points or 0.50% lower at 72,382. Nifty50 was trading at 21,955, down 101 points or 0.46% at around 9.17 am.

₹2.15 crore Net in India on Day 4, film industry tracker Sacnilk.com has reported. The report also stated that the film saw an overall occupancy of 10.36 percent in Hindi language on 18 March. According Sacnilk.com, with the day 4 collection, the film has raked in ₹19 crore net in India during its four-day run in theatres.

Buy or sell stocks: The range-bound action continued in the Indian stock market for the second consecutive session on Monday. The Nifty 50 index ended 32 points higher at the 22,055 level, the BSE Sensex finished 104 points higher at the 72,748 mark while the Bank Nifty index went off 18 points and closed at the 46,575 level.

H-1B visas, sought by foreign guest workers, is set to close at noon Eastern Time on March 22, according to the US Citizenship and Immigration Services (USCIS), PTI reported. Prospective petitioners and legal representatives are required to use the online account of the USCIS during this period. They must electronically register for the selection process and pay the associated registration fee for each beneficiary, the federal agency said on March 18.

Popular Vehicles IPO: The listing date of the initial public offering (IPO) of Popular Vehicles and Services Limited has been fixed on 19th March 2024 i.e. today. As per the information available on the BSE website, Popular Vehicles IPO will be listed on BSE and NSE in a special pre-open session on Tuesday, 19th March 2024.

Sensex rose 104.99 points to close at 72,748.42, while the Nifty 50 settled 32.35 points, or 0.15%, higher at 22,055.70. Nifty 50 formed a small positive candle on the daily chart with minor upper and lower shadows. “Technically, this pattern is indicating range-bound action in the market post the sharp selloff of 13th March.

Also Read: Indian stock market: 7 key things that changed for market overnight - Gift Nifty, US tech stocks rally to oil prices Among tech stocks, Google’s parent Alphabet shares jumped 4.4% as Bloomberg News reported Apple Inc. is in talks to build Google’s Gemini artificial intelligence engine into the iPhone. Apple stock price ended 0.6% higher.