Stock markets decline in early trade on selling in IT shares, sluggish Asian peers
Foreign Institutional Investors (FIIs) bought equities worth Rs 884.03 crore on Thursday, while Domestic Institutional Investors (DIIs) bought equities worth Rs 4,286.50 crore, according to exchange data.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
27 minutes ago
- Hans India
Bharti Airtel, JSW Steel, Bharat Electronics among 9 Nifty50 stocks FIIs boost stakes in Q1 March 2025
Foreign Institutional Investors (FIIs) are reinforcing their faith in India's growth story by increasing their holdings in select bluechip Nifty50 companies during the March 2025 quarter. After a challenging start to the year marked by outflows, FIIs reversed course with consistent inflows in April and May, driven by global and domestic economic factors — including a weakening dollar, slowing US and China economies, strong domestic GDP growth, and easing inflation and interest rates. Why are FIIs focusing on these Nifty50 stocks? These large-cap companies offer high liquidity and stability, allowing FIIs to increase their stakes without significantly impacting share prices. Additionally, FIIs are making targeted bets on sectors with strong earnings potential and strategic government focus, such as defence and manufacturing. In the latest quarter, FIIs increased their holdings in nine prominent Nifty50 companies, supported by consistent financial performance and strong earnings: Bharti Airtel: FII stake rose by 1.1% to 25.4% Bajaj Finance: Stake up by 0.6% to 21.5% Wipro: Increased from 7.8% to 8.4% JSW Steel: Holdings rose to 25.8% Kotak Mahindra Bank: FII holding climbed to 31% Hindalco: Slight increase to 28.1% ICICI Bank: Stake marginally up to 45.8% Bharat Electronics: Defence major saw 0.3% rise to 17.6% Bajaj Finserv: FII stake increased by 0.1% to 7.5% This focused buying by FIIs signals their bullish outlook on India's market potential and strengthens investor confidence. Are these stocks part of your portfolio? If not, it might be time to review your investments in light of these strategic moves by global investors.
The Print
32 minutes ago
- The Print
J-K: Lavender gave small town Bhaderwah a national identity: Union minister Jitendra Singh
'Bhaderwah, once a quiet hilly town, is now a beacon of India's rural startup revolution. Lavender has not just added fragrance to these mountains, it has added identity, income, and inspiration,' Singh said. Inaugurating a two-day Lavender festival 2025 organised by CSIR-IIIM Jammu in Doda district's Bhaderwah town, the minister of state in the Prime Minister's office lauded the Agri-Startup model of Lavender farming as a transformative force that has rewritten the narrative of entrepreneurship in remote and hilly terrains. Jammu, Jun 1 (PTI) Lavender has given the small Jammu and Kashmir town of Bhaderwah a national identity and also a national role in India's economic growth, Union Minister Jitendra Singh said on Sunday. He said this single mission has answered multiple challenges and busted the myth that startups are limited to IT or require foreign degrees. 'Our youth in Jammu and Kashmir, in collaboration with CSIR-IIIM, have shown that passion, perseverance, and learning can build sustainable ventures rooted in agriculture,' he said. The minister proudly shared that young entrepreneurs in Bhaderwah are earning an average of Rs 65 lakhs annually through lavender cultivation and value-added products, motivating many others to leave conventional jobs and pursue farming as a lucrative business opportunity. He credited Prime Minister Narendra Modi for introducing Bhaderwah and the Purple Revolution to the national stage. 'When the Prime Minister dedicated nearly 10 minutes in his 'Mann Ki Baat' to talk about this Lavender mission in detail, it gave the best possible global introduction to Bhaderwah — one that we could not have imagined,' Singh said. The Minister emphasised that it was Modi's vision of StartUp India and StandUp India, announced from the ramparts of the Red Fort, that ignited the entrepreneurial spirit in regions that previously needed long explanations to justify their existence on the developmental map. He revealed that there are currently 50 distillation units operational in Bhaderwah, with lavender-derived products being supplied to markets in Maharashtra and other states. The model has not only attracted attention from neighbouring states like Himachal Pradesh and Uttarakhand, but also from the North-Eastern states, whose representatives were present at the festival to gain first-hand insights, he said. 'This is a new paradigm the world is witnessing – a rural, agriculture-based startup revolution that is both scalable and sustainable,' he remarked. Another myth that Singh addressed was the misconception that StartUps are only for the young. He shared that a special exhibition featuring 60 plus age group entrepreneurs will be showcased in the next edition of the festival. Drawing a broader economic context, Singh said, 'India has moved from the fifth largest to the fourth largest economy, and sectors like lavender cultivation will further fuel our rise. These unexplored areas, when empowered, will become pillars of value addition and employment generation.' He also addressed skepticism around India's economic resilience amid aggressive defence postures. 'Despite challenging times and operations like Sindoor, India's economy has not only remained buoyant but also grown. That is a fitting reply to skeptics,' he asserted. Singh praised director CSIR-IIIM Zabeer Ahmad and his team for organizing an unprecedented event in Bhaderwah that drew visitors from all over India. He invited everyone to visit the lavender fields over the next 10–15 days during peak bloom and hear directly from the entrepreneurs themselves. PTI TAS NB This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Hans India
an hour ago
- Hans India
Kiri Industries' net loss widens to Rs 85 crore in Q4, revenue drops
Kiri Industries Limited, a dye and chemical maker, has announced that the company posted a net loss of Rs 84.6 crore during the quarter (Q4 FY25), which is much higher than the Rs 9.6 crore loss it reported in the same period previous fiscal (Q4 FY24). Revenue also declined by 6.5 per cent, falling to Rs 205 crore in the last quarter of FY25 from Rs 219.3 crore a year ago, according to its stock exchange filing. Despite the disappointing earnings, the company made a major announcement along with the financial results. Kiri Industries has signed a Share Purchase Agreement (SPA) with Zhejiang Longsheng Group to sell its entire 37.57 per cent stake in DyStar, a global dyes and chemicals company. The base sale price is $676.26 million, which is roughly Rs 5,765 crore at current exchange rates. This deal is notable because the sale value is much higher than Kiri Industries' current market capitalisation, which stands at about Rs 3,800 crore. As part of the agreement, Zhejiang Longsheng Group will acquire 26.23 lakh equity shares held by Kiri Industries in DyStar. In addition to the base amount, Kiri Industries may also receive an extra $20.29 million. This would be paid if there is any shortfall in the base amount or if the buyer needs to fulfil other responsibilities under the agreement. However, the final amount could still change depending on certain conditions, the company said in its regulatory filing. The deal is still subject to regulatory approvals and other closing formalities. Once completed, this sale could provide a major cash boost to Kiri Industries and help reshape its business direction. Meanwhile, shares of Kiri Industries dropped 9.43 per cent on Friday to Rs 658 on the Bombay Stock Exchange (BSE). Kiri Industries Limited (KIL) is an Indian company engaged in the manufacturing and export of dyes, dye intermediates, and basic chemicals. As a fully integrated dyes and chemicals producer, KIL operates a wide range of facilities. The company is listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
