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Business Standard
5 days ago
- Business
- Business Standard
Deepak Nitrite shares jump 6% in trade; Why are investors buying stock?
Deepak Nitrite shares saw buying and gained 6 per cent after the company posted its fourth quarter (Q4FY25) results SI Reporter Mumbai Listen to This Article Deepak Nitrite share price gained 6.4 per cent in trade on Thursday, May 27, 2025, logging an intraday high at ₹2,128.50 per share on BSE. The buying on the counter came after the company posted its Q4 results. At 12:07 PM, Deepak Nitrite shares were up 5.98 per cent at ₹2,119.9 per share on the BSE. In comparison, the BSE Sensex was down 0.02 per cent at 81,294.36. The market capitalisation of the company stood at ₹28,913.96 crore. The 52-week high of the stock was at ₹3,168.65 per share and the 52-week low of the stock was at
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Business Standard
5 days ago
- Business
- Business Standard
Rupee slips as tariff ruling lifts dollar; opens 16 paise lower at 85.52/$
Indian Rupee today: The domestic currency opened 16 paise weaker at 85.52 against the US dollar, after ending at 85.36 on Wednesday SI Reporter Mumbai
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Business Standard
7 days ago
- Business
- Business Standard
Rail stock up 27% in 3 days, zooms 47% in 10 days; what's behind the rally?
In the past three days, the stock rallied 27 per cent after the company reported strong earnings for the quarter ended March 2025 SI Reporter Mumbai Kernex Microsystems India share price today: Share price of Kernex Microsystems India continued their upward movement, gaining 5 per cent to ₹1,148.75 on the BSE in Tuesday's intra-day trade in otherwise a weak market. The stock of railway railway-related company is quoting higher for the 10th straight trading day, rallying 45 per cent during the period. Thus far in the month of May, it zoomed 57 per cent. In the past three days, the stock rallied 27 per cent after the company reported strong earnings for the quarter ended March 2025 (Q4FY25). At 12:42 PM, Kernex Microsystems was up 3 per cent at ₹1,125.80, as compared to a 0.7 per cent decline in the BSE Sensex. The average trading volumes on the counter jumped over 10-fold. A combined 1.33 million equity shares representing 8 per cent of the total equity of Kernex Microsystems have changed hands on the NSE and BSE. What's behind the rally? On Friday, May 23, 2025, Kernex Microsystems India reported standalone profit after tax (PAT) at ₹7.14 crore, on the back of strong operational performance. The company had posted a loss of ₹3.5 crore in the year-ago quarter. Revenue from operations grew 329 per cent year-on-year (Y-o-Y) to ₹36.80 crore from ₹8.57 crore in Q4FY24. The company's total value of order book as on March 31, 2024, stood at ₹2,124.16 crore. Railway Sector The railway sector has experienced significant growth over the past few years, driven by increased investments and financial backing from the government. The National Rail Plan 2030 offers numerous opportunities across various railway domains. The Union Budget for FY 2025-26 included a record-breaking capital allocation of ₹2.65 trillion for the railways. The key areas targeted for investment are rolling stock, multitracking works, electrification, passenger amenities, high-speed rail and DFCs. The government is also exploring private investments in rolling stock manufacturing and operation, and maintenance services. The government's emphasis on modernising and expanding railway infrastructure is evident through several key initiatives. These include the introduction of High-Speed Rail (HSR) and semi-HSR corridors, RRTS, suburban rail systems, first and last-mile connectivity projects, station modernisation, enhanced implementation of the Automatic Train Protection System 'KAVACH,' and the deployment of LTE-R (Long Term Evolution for Railways), the engineering giant Larsen & Toubro (L&T) said in its financial year 2024-25 (FY25) annual report. Following directives from the Railway Board, zonal railways have gradually adopted the EPC delivery model. Building on the successful commissioning of the Dedicated Freight Corridor (DFC), some railway zones are in the process of transitioning to large-scale Engineering, Procurement, and Construction (EPC) packages instead of smaller contracts. The acceptance of advanced transport systems, such as the Regional Rapid Transit System (RRTS) and HSR, continues to grow, as demonstrated by the recent commissioning of the Delhi-Meerut RRTS corridor. Furthermore, there is a significant pipeline of projects across both the mainline and metro segments that are expected to be bid out in the near term, L&T said. ALSO READ: About Kernex Microsystems (India) Kernex Microsystems (India) is engaged in the manufacture and sale of Safety Systems and Software services for Railways with a plant location at Hyderabad and a branch in Cairo, Egypt. The Company has been instrumental in implementing Train Collision Avoidance System (TCAS) systems across the Indian Railways network. This extensive experience has solidified its position as a leading provider of rail safety solutions within the country. The Company is actively pursuing opportunities in Yard Management, where its TCAS systems are already being utilised. This involves managing and optimising the movement of trains and assets within railway yards, enhancing operational efficiency and safety.
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Business Standard
22-05-2025
- Business
- Business Standard
Indian Rupee slips past 86 mark to close at over one-month low
Indian Rupee today: The domestic currency closed 37 paise lower at 86.01 on Thursday, marking its weakest level since April 11 this year SI Reporter Mumbai The Indian Rupee weakened past the 86 mark on Thursday on likely foreign outflows from domestic equities as the dollar and crude oil prices remained under pressure. The domestic currency closed 37 paise lower at 86.01 on Thursday, marking its weakest level since April 11 this year, according to Bloomberg. This compares with a closing of 85.64 on Wednesday. However, on a positive note, Bofa Research expects the Indian rupee to strengthen to 84 against the greenback by December 2025 from the previous forecast of 87, according to reports. This is on account of broader weakness in the dollar and stable domestic fundamentals. The dollar index fell for the fourth consecutive day as US President Donald Trump continued to push his sweeping spending and tax-cut bill. The index, which measures the greenback against a basket of six major currencies, was up 0.21 per cent at 99.77. The US House of Representatives Rules Committee has approved the advancement of President Donald Trump's sweeping tax cut plan, paving the way for a vote on the House floor. The proposal has raised concerns, with reports estimating that the tax cuts could cost between $3.8 trillion and $4.5 trillion over the next decade. Following this, treasury yields advanced, with the benchmark 30-year treasuries rising to as high as 5.1 per cent. The narrowing yield differential between India and the US is making Indian assets less attractive, prompting global funds to pull out money from Indian markets, Amit Pabari, managing director at CR Forex Advisors, said. "This outflow is putting additional pressure on the rupee." Rising geopolitical tensions in the Middle East have pushed crude oil prices higher, further adding pressure to the rupee, he added. Meanwhile, domestic equity markets ended lower on Thursday, with the Nifty50 and Sensex down 0.82 per cent and 0.79 per cent, respectively. On the brighter side, the Chinese Yuan and Japanese Yen have started appreciating against the dollar, offering a measure of support to the rupee, Pabari said. "Technically, the dollar/rupee pair is expected to trade in a range as it faces strong resistance near 85.80, while immediate support lies at 85.20-85.30 levels." Crude oil prices traded on the lower side as the increase in US crude inventories overshadowed Israel-Iran tensions. Brent crude price was down 1.34 per cent to $64.04 per barrel, while WTI crude prices were 1.38 per cent lower at 60.72, as of 3:25 PM IST.
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Business Standard
22-05-2025
- Business
- Business Standard
Indian Rupee opens higher at 85.59/$ as US fiscal concerns weigh on dollar
Indian Rupee today: The domestic currency began the session 5 paise stronger at 85.59 against the dollar SI Reporter Mumbai Indian Rupee opened higher on Thursday, snapping a two-day fall, as fiscal deficit concerns in the US trigger more pressure for the Dollar index. The domestic currency began the session 5 paise stronger at 85.59, after closing at 85.64 against the greenback on Wednesday, according to Bloomberg data. The dollar index fell for the fourth consecutive day as US President Donald Trump continued to push his sweeping spending and tax-cut bill. The index, which measures the greenback against a basket of six major currencies, was 0.07 per cent lower at 99.49. Indian rupee fell yesterday before closing at 85.64 on constant demand from oil companies and importers, Anil Kumar Bhansali, head of treasury and executive director at Finrex Treasury Advisors LLP. "Rupee may open at 85.52 and the trading is to be done within the range of 85.25/75 for the day." With the dollar index below 100 and Asian currencies up, any downside to the rupee can be used by exporters to sell dollars, Bhansali said. The narrowing yield differential between India and the US is making Indian assets less attractive, prompting global funds to pull out money from Indian markets, Amit Pabari, managing director at CR Forex Advisors, said. "This outflow is putting additional pressure on the rupee." Rising geopolitical tensions in the Middle East have pushed crude oil prices higher, further adding pressure to the rupee, he added. On the brighter side, the Chinese Yuan and Japanese Yen have started appreciating against the dollar, offering a measure of support to the rupee, Pabari said. "Technically, the dollar/rupee pair is expected to trade in a range as it faces strong resistance near 85.80, while immediate support lies at 85.20-85.30 levels." Meanwhile, crude oil prices fell as an increase in US crude inventories overshadowed reports that Israel is preparing for a potential strike on Iranian nuclear sites. Brent crude price was down 0.05 per cent to $64.88 per barrel, while WTI crude prices were flat at 61.57, as of 9:10 AM IST.
