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Stock Market Close Highlights: Sensex falls 400pts, Nifty ends at 24,273 as India-Pak tensions rise
Sensex Today | Stock Market Close Highlights: Among the sectoral indices auto, energy, FMCG, realty, metal, pharma. oil & gas settled in red
8:53 AM
Stock Market LIVE Updates: 'Dip in buying after the opening bell yesterday shows bias remains bullish'
Stock Market LIVE Updates: "The nifty ended flat yesterday but the dip in buying that emerged immediately after the opening bell shows that the bias remains bullish, even though geopolitical risks remain high. Support lies in the 24,000-24,200 area while resistance covers the 24,510 to 23,589 zone."
Views by: Akshay Chinchalkar, Head of Research, Axis Securities
8:38 AM
Stock Market LIVE Updates: Virtual Galaxy Infotech IPO opens on May 9: Here's all you need to know
Stock Market LIVE Updates: Virtual Galaxy Infotech's initial public offering (IPO) is set to open for subscription tomorrow, Friday, May 9, 2025.
The Nagpur-based firm intends to raise ₹93.29 crore through the issuance of 6.57 million new equity shares. The IPO does not include any offer for sale (OFS) component.
The company has allocated approximately 50 percent of the offering to qualified institutional buyers (QIBs), 35 percent to retail investors, and 15 percent to non-institutional investors (NIIs).
8:11 AM
Stock Market LIVE Updates: Tata Motors, SRF, and Bajaj Finance are top stocks to buy today; here's why
Stock Market LIVE Updates: Buy: Tata Motors
Following a breakout from a multi-week consolidation, TATAMOTORS shows increasing volume alongside its upward price movement, signaling renewed buying interest. We anticipate a near-term rally in the stock.
8:09 AM
Stock Market LIVE Updates: DIIs overtake FPIs as dominant investors in Indian markets in March quarter
Stock Market LIVE Updates: As of March 2025, domestic institutional investors (DIIs), mainly mutual funds and insurance firms, have become the leading shareholders in India's equity market, marking a notable change. Data from Prime Database reveals that DIIs held a 17.62 percent stake in National Stock Exchange (NSE)-listed companies, slightly exceeding the 17.22 percent held by foreign portfolio investors (FPIs).
This is the first instance of DIIs surpassing FPIs in shareholding since tracking commenced in 2009, with the value of DII holdings reaching ₹71.76 trillion, 2 percent greater than that of FPIs. READ MORE
7:54 AM
Stock Market LIVE Updates: NSE receives in-principle approval from Sebi for electricity derivatives
7:49 AM
Stock Market LIVE Updates: Operation Sindoor: Prolonged strikes can sink markets, say analysts
Stock Market LIVE Updates: Analysts suggest that a protracted war or heightened tensions with Pakistan following Operation Sindoor, the Indian armed forces' retaliatory attack on Pakistan and Pakistan Occupied Kashmir (PoK), could trigger a market downturn. However, they anticipate a potential recovery if the measures remain targeted and tensions subsequently ease.
Aniruddha Sarkar, chief investment officer at Quest Investment Advisors, noted that historical trends indicate Indian markets have generally performed well during and even after border conflicts with Pakistan, suggesting a similar outcome might be expected this time. READ MORE
7:36 AM
Stock Market LIVE Updates: India grants UK access to £38 bn Indian procurement market under FTA
Stock Market LIVE Updates: As part of the newly concluded free trade agreement (FTA), India has made a notable concession to the United Kingdom (UK) by granting "legally guaranteed access" to its substantial government procurement market. The UK government estimates this will enable British businesses to compete for approximately 40,000 Indian tenders annually, valued at a minimum of 38 billion pounds.
According to a policy paper from the UK Department for Business & Trade, this agreement marks a first, allowing UK businesses to bid on a wide range of goods, services, and construction procurements across most of India's central government entities and several federal state-owned enterprises, with bidding thresholds lower than previously established. READ MORE
7:33 AM
Stock Market LIVE Updates: 13 killed, over 50 injured as Pak army pounds villages along LoC in J-K
Stock Market LIVE Updates: Following India's missile strikes on terror infrastructure in the neighboring country and PoK, the Pakistan Army initiated intense artillery and mortar shelling along the LoC in Jammu and Kashmir, resulting in the deaths of at least 13 people, including four children and a soldier, and injuring 57, officials reported on Wednesday.
This marked one of the most severe instances of shelling in years, forcing hundreds of border residents to seek shelter in underground bunkers or relocate to safer areas. The indiscriminate shelling by Pakistan caused widespread destruction in the worst-affected Poonch district and Rajouri in the Jammu region, as well as Baramulla and Kupwara in north Kashmir. Numerous houses, vehicles, and various buildings, including a Gurudwara, were damaged, triggering panic among the local population.
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Time of India
24 minutes ago
- Time of India
Himachal Pradesh to open areas near India-China border for tourists
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Himachal Pradesh will open areas near India-China border , including strategically important Shipki La pass , for tourists.A beginning will be made on Tuesday with Shipki La, which is a high-altitude mountain pass that has been an old trade route between India and Tibet. It has an Army post and the border is manned by Indo-Tibetan Border Police (ITBP). So far, it was open for local residents and for limited trade between India and Tibet. Now, working with defence personnel and ITBP, Himachal Pradesh government has decided to ease restrictions and open up Shipki La Pass for tourists and adventure Indian resident will be able to visit this pass after furnishing an Aadhaar card. The Army will restrict the number of tourists per day. The initial plan is to allow 30 tourists per hour and 210 tourists a day. The tourists will be allowed to go till the border check post and come back. No photography of the strategic posts will be to ET, Himachal Pradesh chief minister Sukhvinder Singh Sukhu said, "We have been working with defence ministry for the last one and a half years to open up border areas for tourism in a restricted manner. We will first open Shipki La pass. Earlier, a permit was required for this area. This will be a big step for people of Kinnaur as we expect more tourist footfalls because of this."Tourists will be able to see the Chinese checkout and even roads within Chinese territory as at this spot the Indian checkout is at a higher level. Sukhu said, "This is just the first step. We will open more areas along India-China border." Himachal government is working towards opening Kaurik and Rangrik areas in Spiti La is in picturesque Kinnaur district at 4,000 m above sea level and is mostly snow covered and inaccessible during winter months. The state has now decided to use the summer months to open up the area for tourism.
Time of India
24 minutes ago
- Time of India
India looking for other magnet sources after China's curbs on rare earth metals
India is in talks with China on ensuring the supply of permanent magnets derived from rare earth minerals but is also working on 'alternate sources' for the critical components, commerce and industry minister Piyush Goyal said. He said the government is in constant touch with Indian industry to speed up the development of local sources. China, which controls 90% of the supply of rare earth magnets, has imposed curbs on supplies. These magnets are essential inputs in the manufacturing of cars, electric vehicles and renewable energy equipment, among others. 'There is a concern... our embassy is in dialogue with them (China)... commerce and industry ministry is also working,' Goyal said, adding that the government had already begun work on developing alternate sources. 'Hope Good Sense Prevails' Goyal was speaking to reporters after his interaction with local industry in Bern. "In a way, it's a wake-up call for all those who have become over-reliant on certain geographies. It's a wake-up call for the whole world that you need trusted partners in your supply chain,' the minister said. Auto industry and other industry bodies have represented the matter to the government seeking an early resolution of the problem. China had in April mandated special export licences for seven rare earth elements and related magnets. It is seeking an undertaking that permanent magnets it supplies will not be re-exported to the US, nor will they find applications in the defence industry. ET reported on June 4 that nine auto component manufacturers have received endorsement from the Chinese embassy in India for importing critical rare earth magnets, but supply has not resumed as the neighbouring country's commerce ministry has not given its nod. "Obviously, there are issues around the stopping of permanent magnets from China to India, which will affect our auto sector, particularly, and several white goods and other sectors. Some companies have put in their applications, and we hope that good sense prevails and they get their approvals for permanent magnets," the minister said. The Centre is also looking to Indian Rare Earths Ltd to speed up the development of domestic resources, Goyal said. Asked if the government will consider a production-linked incentive scheme for these magnets, Goyal said he had discussed the matter with the auto industry and was confident of resolving the matter. "They are in dialogue with our innovators, startups and they say they will take care of any funding requirement or pricing correction that may need to encourage faster rollout and growth of this sector," Goyal said. On alternative sources, the minister said these could also be some technologies that India is developing. "The government, the industry and startups and innovators are all working as a team and we are confident that there may be a problem in the short run but we will emerge winners in the mid to long runs," he said. (The reporter is in Bern at the invitation of the ministry of commerce & industry)
Time of India
29 minutes ago
- Time of India
Kaynes Semicon, L&T arm to acquire Fujitsu General's power modules business
Kaynes Semicon and L&T Semiconductor Technologies (LTSCT) are acquiring Japanese Fujitsu General 's power modules business for Rs 118.34 crore. Fujitsu will transfer the business to Larsen & Toubro's fabless chip company and related production facilities to Kaynes, which will in turn manufacture these products for LTSCT, the companies said. The transaction is expected to close on June 23, pending regulatory clearance under Japan's Foreign Exchange and Foreign Trade Act. 'The new OSAT facility being setup in Sanand, Gujarat, is launching its operations with a focus on the global power device packaging market,' Raghu Panicker, chief executive of Kaynes Semicon, told ET. Mysuru-based Kaynes is one of the production contractors for LTSCT. The LTSCT specialises in semiconductor product development, manufacturing, and sales. Kaynes is one of the four companies under the India Semiconductor Mission 1.0 building OSATs in the country. Live Events The deal is part of Fujitsu's strategy to streamline operations within its tech solution business and reinforce its overall business foundation. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Panicker said the deal is supported by two major initiatives: a multi-million-dollar, high-volume service agreement with its customer Alpha and Omega Semiconductor (AOS) and the acquisition of three power packaging lines from Fujitsu Electronics Ltd Japan. 'The partnership with AOS will cover core power devices like IGBTs, power modules and MOSFETs with volumes projected to reach nearly 670 million units annually, while the Fujitsu technology provides immediate capability for high-reliability automotive and industrial-grade power modules, adding a production capacity of approximately 0.6 million units per month,' he said. These moves position the company as a significant new player in the power electronics supply chain , Panicker said. By combining a foundational, high-volume customer with advanced packaging technology and immediate production capacity, the company is poised to meet the surging global demand for power semiconductors driven by the electric vehicles , renewable energy , and industrial automation sectors, he said. This establishes a vital new capability in India's domestic semiconductor ecosystem and addresses the global need for a more resilient and diverse manufacturing footprint for power devices. L&T has invested more than $300 million to create LTSCT. Fujitsu General, in a regulatory filing on Monday, announced the divestiture of its power module business operated by its consolidated subsidiary, Fujitsu General Electronics (FGEL). This transaction is expected to result in the recording of an extraordinary gain of approximately 2 billion yen (about $13.8 million) from the business transfer in the April-June 2025 quarter, it said. Reasons for the Divestiture FGEL's tech solutions division is involved in the development, manufacturing, and sale of electronic devices, as well as the manufacturing of information and communication equipment. The divestiture of the power module business is part of a broader portfolio transformation within the electronic device business, aimed at strengthening the Fujitsu General Group's business foundation, it said.
