Tata Steel shares climbed more than 3% on Wednesday, following a global surge in steel futures driven by encouraging factory data from China, which pointed to a rebound in manufacturing activity. The upward momentum carried into Thursday, with the stock reaching an intraday high on the BSE.
Coromandel International shares: In a regulatory filing, the company announced that the Competition Commission of India (CCI) has granted approval for its planned acquisition of a majority stake in NACL Industries Limited.
Amidst Washington's push for a ceasefire in the Russia-Ukraine war, Trump's strategy remains ambiguous, marked by shifting stances and skepticism. Despite aiming to reduce commitments to Ukraine and increase sanctions, the effectiveness of these measures in compelling Putin to negotiate is uncertain. Trump's unpredictable approach leaves the situation fluid, with Russia currently holding a strong position.
IndusInd Bank and Hero MotoCorp may be dropped from the Nifty50 in the September review, with Max Healthcare and IndiGo likely replacements, according to Nuvama. Max could see $400 million in passive inflows if included. BSE is unlikely to enter the Nifty50 or even the Nifty Next 50 unless its stock surges over 40% and sustains the rally through July.
Ankur Jhaveri of JM Financial highlights India's potential gains from the China+1 strategy amid global manufacturing shifts. He anticipates rural consumption and domestic manufacturing as key growth drivers, while geopolitical events and trade deals remain crucial market factors. Jhaveri suggests a bottom-up investment approach, favoring companies with solid earnings and reasonable valuations, particularly within the banking sector.
Barclays has announced executive appointments in its Asia Pacific investment banking division, aiming to boost regional growth amidst a global capital allocation review. Richard Satchwell will lead Capital Markets Financing for APAC, while Ee-Ching Tay becomes the chief of Merger and Acquisition for the region. These changes follow Avinash Thakur's appointment as head of the division.
Moving Media Entertainment debuted on the NSE SME platform with a 1.4% premium, listing at Rs 71 against an issue price of Rs 70. The IPO, a fresh issue of 62 lakh shares, saw strong revenue growth in FY25. Proceeds will fund advanced camera solutions, debt repayment, and general corporate needs.
