Latest news with #AbburiVidyasagar
Business Standard
9 hours ago
- Business
- Business Standard
Markets rally as geopolitical tensions ease, Nifty above 25,200 level; VIX tanks 3.50%
The domestic equity indices traded with major gains in early trade, tracking positive cues from Asian peers after a ceasefire agreement between Iran and Israel was announced by U.S. President Donald Trump. The development has helped cool global crude oil prices, providing a tailwind for Indian equities. The Nifty traded above the 25,200 level. All NSE sectoral indices traded in the green, with the sole exception of the Nifty Media index. At 09:30 IST, the barometer index, the S&P BSE Sensex, soared 772 points or 0.94% to 82,668.79. The Nifty 50 index advanced 238.45 points or 0.95% to 25,210.35. In the broader market, the S&P BSE Mid-Cap index rose 0.61% and the S&P BSE Small-Cap index added 0.67%. The market breadth was strong. On the BSE, 2,337 shares rose and 489 shares fell. A total of 130 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 3.50% to 13.56. Foreign portfolio investors (FPIs) sold shares worth 1,874.38 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 5,591.77 crore in the Indian equity market on 23 June 2025, provisional data showed. Stocks in Spotlight: Avantel fell 1.75%. The company said that its board has approved the re-appointment of Dr. Abburi Vidyasagar as managing director (MD) for three years with effect from 1 April 2025 to 31 March 2024. Satin Creditcare Network added 2.32% after the companys board will meet on 27 June 2025 to consider raising NCDs upto Rs 5,000 crore via private placement basis. Numbers to Track: The yield on India's 10-year benchmark federal paper shed 0.41% to 6.282 from the previous close of 6.308. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 86.1200 compared with its close of 86.7850 during the previous trading session. MCX Gold futures for 5 August 2025 settlement fell 1.22% to Rs 98,162. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.29% to 98.10. The United States 10-year bond yield added 0.46% to 4.339. In the commodities market, Brent crude for July 2025 settlement rose 41 cents or 0.64% to $64.50 a barrel. Global Markets: US Dow Jones futures jumped 216 points, pointing to a strong open for Wall Street. Asian indices soared on Tuesday after President Donald Trump claimed that Iran and Israel had agreed to a ceasefire. However, neither country has officially confirmed accepting the proposed timeline. Overnight in the US, all three major indices closed higher as investor nerves eased following Irans relatively muted response to the US airstrikes over the weekend. The Dow gained 0.89%, the S&P 500 rose 0.96%, and the Nasdaq advanced 0.94%. Tesla shares surged over 8%, leading the Nasdaq's gains, after the company launched its long-awaited Robotaxi service in Austin, Texas. Sentiment also got a boost from Fed Governor Michelle Bowman, who signaled that a rate cut could be on the table at July's meeting, provided inflation and labor market data remain supportive. Speaking in Prague, Bowman also downplayed the inflationary impact of Trump's proposed tariff wave, calling it temporary. All eyes now turn to Fed Chair Jerome Powell, who begins two days of testimony before Congress starting Tuesday.
Business Standard
10 hours ago
- Business
- Business Standard
Avantel re-appoints Abburi Vidyasagar as MD for three years
Avantel said that its board has approved the re-appointment of Dr. Abburi Vidyasagar as managing director (MD) for three years with effect from 1 April 2025 to 31 March 2024. Abburi Vidyasagar (64 Years) is a post graduate in Electronics and Communication Engineering. He did his from JNTU, Kakinada, Andhra Pradesh and did his master of engineering from IIT, Kharagpur. He also did master of business administration from Osmania University, Hyderabad. Dr. A. Vidyasagar received Doctorate from JNTU, Hyderabad for his outstanding work on E-Learning Methodologies. Dr. Abburi Vidyasagar promoted Avantel in 1990, a technology driven research-oriented company and developed world-class infrastructure for design, manufacture and development of wireless products for defence, satellite communications and export markets. Avantel with a team of engineers developed satellite communication products for voice and data communication working on Indian satellites for various platforms like ships, submarines, aircrafts and helicopters. Avantel specializes in providing strategic solutions to the Indian defence services and related establishments. It has developed and manufactured various radio components and unique products such as satellite communications, HF communications, electronic warfare, and radar systems. The companys consolidated net profit fell 49.96% to Rs 6.08 crore on a 17.96% rise in revenue from operations to Rs 49.26 crore in Q4 FY25 over Q4 FY24. The counter rallied 5.39% to settle at Rs 163.35 on the BSE.
