Latest news with #AxlesIndia
Business Standard
11 hours ago
- Business
- Business Standard
Sensex jumps 310 pts in early trade; Nifty above 25,350
The domestic equity indices traded with decent gains in early trade, tracking firm cues from Asian markets amid sustained optimism over a potential ceasefire between Israel and Iran. The Nifty traded above the 25,350 mark. Metal, oil & gas and auto shares advanced while realty, media and IT shares declined. At 09:30 IST, the barometer index, the S&P BSE Sensex, soared 310.49 points or 0.37% to 83,070.75. The Nifty 50 index advanced 114.20 points or 0.47% to 25,362.85. In the broader market, the S&P BSE Mid-Cap index rose 0.11% and the S&P BSE Small-Cap index added 0.42%. The market breadth was strong. On the BSE, 1,887 shares rose and 780 shares fell. A total of 120 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth 2,427.74 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,372.96 crore in the Indian equity market on 25 June 2025, provisional data showed. Stocks in Spotlight: Wheels India added 3.41% after the companys board approved to acquire 7,64,533 equity shares or 12.51% stake in Axles India from Forge 2000 for a total consideration of Rs 22.68 crore. Balaji Amines rose 2.41% after the company has received consent to operate the manufacture of ISOPROPYLAMINE (MIPA/ DIPA). Trial runs will be started and commencement of commercial production will take effect shortly. Numbers to Track: The yield on India's 10-year benchmark federal paper rose 0.02% to 6.284 from the previous close of 6.283. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.8600 compared with its close of 86.0850 during the previous trading session. MCX Gold futures for 5 August 2025 settlement rose 0.11% to Rs 97,460. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.29% to 97.42. The United States 10-year bond yield fell 0.37% to 4.274. In the commodities market, Brent crude for July 2025 settlement rose 17 cents or 0.25% to $67.85 a barrel. Global Markets: Asian shares traded lower on Thursday, with investors still digesting the fragile ceasefire declared between Israel and Iran. Late Monday, President Trump announced a multi-stage truce between the two nations, urging both sides to hold the line. By Wednesday, the ceasefire seemed to be sticking, just a day after both countries said they had wrapped up a 12-day aerial showdown. U.S. Secretary of State Marco Rubio claimed Iran is now "much further" from building a nuclear weapon post-strikes, downplaying intelligence that says the air raids merely bought a few extra months. Trump, meanwhile, credited the swift U.S. military response for ending the skirmish and said he plans to push Iran to abandon its nuclear ambitions during talks next week. Back in the U.S., shares ended Wednesday on a subdued note. The S&P 500 hovered near the flatline, closing at 6,092.16 as investors looked for clues on whether it could challenge its all-time high. The Nasdaq inched up 0.31%, while the Dow slipped 0.25%. Federal Reserve Chair Jerome Powell wrapped up his Capitol Hill testimony, continuing to strike a cautious tone on inflation and trade. While he left the door open for future rate cuts if recent pressures prove short-lived, he avoided committing to any timeline, despite mounting pressure from President Trump. NVIDIA hit a fresh all-time high after Loop Capital boosted its price target to $250 from $175, pointing to strong and sustained demand for AI chips as artificial intelligence adoption surges. FedEx shares dropped over 3% after the company issued a weaker-than-expected profit forecast for the current quarter.
Business Upturn
13 hours ago
- Business
- Business Upturn
Top stocks in focus on June 26: Tata Steel, JSW Energy, Balaji Amines, SMS Pharma, Vodafone Idea and more
By Aman Shukla Published on June 26, 2025, 08:58 IST Indian stock markets are expected to react to several important corporate announcements and developments on Thursday, June 26. Here's a roundup of key stocks in focus: Wheels India has approved the purchase of 7.64 lakh shares in Axles India from Forge 2000 for ₹22.68 crore. Balaji Amines has received approval to start operations for manufacturing ISOPROPYLAMINE. Trial runs will begin shortly, followed by commercial production. Union Bank of India has cleared plans to raise up to ₹6,000 crore through a mix of debt and equity instruments. SMS Pharmaceuticals announced that the USFDA inspection at its Telangana facility concluded without any observations or warnings between June 23 and 25. Dilip Buildcon shared that it has provisionally wrapped up work on a four-lane section of the Bengaluru-Chennai Expressway in Andhra Pradesh. Jio Financial Services will invest ₹190 crore in its subsidiary, Jio Payments Bank. Timex Group confirmed that its promoter will use the oversubscription option in its ongoing offer for sale. Up to 15% stake will be sold between June 25 and 26. Vodafone Idea is reportedly looking to raise around $2.9 billion in loans to improve its network infrastructure. ASK Automotive has formed a joint venture with TD Holding GMBH (49:51 split) to manufacture and sell sunroof control and helix cables for passenger vehicles. Ceat is set to raise ₹500 crore via NCDs and will also inject ₹400 crore into its subsidiary, Ceat OHT Lanka. RCF Chemicals may face a ₹204 crore financial impact after the Department of Fertilizers declined to recognize spot gas purchases used in urea production during FY21–FY23. Federal Bank will review potential fundraising options at its upcoming board meeting on June 30. Tata Steel has picked up ₹1,563 crore worth of shares in T Steel Holdings. Separately, it has received a show-cause notice over alleged input tax credit irregularities worth ₹890 crore during FY19. Garware Technical Fibres will transfer all assets and liabilities of its Norway branch to its group company. Godrej Properties has entered into a deal to sell stakes in its subsidiaries for a total of ₹54 crore. Tejas Networks has joined hands with Rakuten Symphony to work on global 5G expansion using open, interoperable solutions. JSW Energy has inked a 300 MW hybrid solar-wind power deal with NHPC. The project is expected to go live within two years. The firm has also filed a petition against a state power utility over ₹507 crore in unpaid dues. Manappuram Finance is issuing warrants worth ₹2,192 crore to BC Asia Investments XIV at ₹236 apiece, with each carrying a right to convert into one share. OM Infra has secured an order worth ₹199 crore from NHPC for work on the Dibang Hydropower Project in Arunachal Pradesh. AU Small Finance Bank is scheduled to review its annual fundraising strategy on June 28. Signature Global has received board approval to raise ₹875 crore through NCDs. BSE has been fined ₹25 lakh by SEBI for regulatory non-compliance. The company has clarified that the penalty will not impact its operations or financials. Mahindra & Mahindra has offloaded its entire stake in Mahindra Defence Systems to Mahindra Advanced Technologies. Panorama Studios has signed a licensing deal with Arha Media for the airborne rights to four Telugu films. Prime Focus reported that its step-down subsidiary, Brahma AI Holdings, has set up a new US-based arm named Brahma AI Services. Bondada Engineering has formed a new unit, GreenBond RE Park Private, to pursue renewable energy opportunities. Macrotech Developers announced that Raunika Malhotra has stepped down from her position as whole-time director. Texmaco Rail received a large export order worth ₹535 crore from Cameroon's CAMALCO SA for the supply of 560 open-top wagons. HG Infra has incorporated a subsidiary to build standalone battery energy storage systems in Gujarat. Can Fin Homes plans to raise up to ₹10,000 crore via debt and another ₹1,000 crore through a QIP offering. JSW Steel has filed a review petition in the Supreme Court regarding the Bhushan Power and Steel resolution case. PB Fintech co-founders Yashish Dahiya and Alok Bansal are offloading 5.05 million shares (~1.1% stake) at ₹1,800 per share, amounting to ₹912 crore. Western Carriers has bagged a ₹558 crore contract from Jindal Stainless for dispatches involving slabs, coils, and sheet plates. HUL: Magnum HoldCo will acquire 61.9% in Kwality Wall's India from Unilever. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
