Indian equities closed sharply lower on Friday, with the Sensex tumbling 1,471 points and the Nifty slipping below 23,150. The selloff capped the steepest weekly fall in nearly four years as West Asia tensions unnerved investors.
Ashi Anand, Founder & CEO of IME Capital, said private sector banks remain structurally stronger than PSU banks despite the latter gaining market share in recent years. He believes high-quality private banks still justify premium valuations, with SBI being a…
Companies including Larsen & Toubro, HDFC Bank, ICICI Bank, Ashok Leyland and Sapphire Foods India have seen major declines in March, eroding billions in market capitalisation and putting them among the key laggards in the market.
National Stock Exchange of India is preparing for its long-awaited IPO, offering investors a chance to own a stake in India’s largest and most profitable exchange.
India’s city gas distribution sector may see daily sales volumes drop up to 10% due to supply disruptions linked to the West Asia conflict, though cost pass-through may cushion profitability.
Shares of Krystal Integrated Services Ltd ended at ₹566.30, down by ₹18.40, or 3.15%, on the BSE.
Tata Motors’ commercial vehicle unit secured orders for over 5,000 buses and chassis from various State Transport Undertakings across India, including MSRTC, GSRTC, and KSRTC.
Britannia Industries said it has adequate levels of finished goods available across its supply chain network to meet market demand.
Goldman Sachs has warned that if the Strait of Hormuz continues to witness supply disruptions till the end of the month, oil prices could rise all the way to $150 per barrel.
Even if tensions ease soon, supply chain normalisation could take longer, keeping product cracks elevated and supporting refining and petrochemical margins.