Stock market LIVE: Sensex up 500 pts, Nifty atop 22,650; RIL, auto shares shine | News on Markets

Will China flood globe with EVs? Here’s what’s behind latest US-China fight

Concerns are growing not just in the US but also in Europe and Mexico that China will seek to bolster its own struggling economy with a wave of exports that could undercut factories overseas. READ MORE

Gland Pharma soars 7% on USFDA approval for breast cancer drug

The Eribulin Mesylate injection is indicated for treating patients diagnosed with metastatic breast cancer (mBC) who have undergone at least two rounds of chemotherapy for managing metastatic disease. READ MORE

Auto to realty: Tata Asset Management launches 6 Index funds targetting growth sectors

These index funds are meticulously designed to provide investors with exposure to key sectors having growth potential in the current economic landscape. READ MORE

ALERT:: Popular Vehicles Dec qtr net jumps 135%; stock down 1%

Popular Vehicles & Services in an exchange filing today reported 2.3-fold jump in net profit at Rs 4.07 crore for the quarter ended December 2023 as against Rs 1.73 crore in the corresponding quarter a year ago. Total income grew marginally by 1.9 per cent to Rs 673.41 crore from Rs 660.74 crore.

Swiss govt’s ‘too big to fail’ list could saddle UBS with rougher rules

At around $1.7 trillion, UBS’s balance sheet is double the size of annual Swiss economic output, giving the bank an exceptional weight for a major economy. READ MORE

Godrej Prop up 8% as it sells over 1K homes in Gurugram for Rs 3,000 crore

Shares of Godrej Properties sprinted 7.5 per cent to Rs 2,692 per share on the BSE in Monday’s intraday trade after the real estate player sold over 1,050 homes worth over Rs 3,000 crore within three days of launch of its new project at Gurugram, Haryana. Godrej Zenith, the company said, is GPL’s largest residential development in Gurugram. Read more

Exide zooms 15%, hits new all-time high on heavy volumes; here’s why

Shares of Exide Industries zoomed 15 per cent to Rs 369.95, also its record high on the BSE in Monday’s intra-day trade backed by heavy volumes on reports of Hyundai, Kia partnering with Exide Energy for electric vehicle (EV) battery localisation in India. Read more

Overnight swaps suggest RBI likely to hold interest rates through 2024

Indian overnight indexed swap (OIS) rates have moved higher since the Reserve Bank of India’s latest policy meeting on Friday, suggesting investors now expect a rate cut only in early 2025 as opposed to the last quarter of 2024 earlier.

The one-year OIS rate, the most commonly used indicator to gauge interest rate expectations, was at 6.82 per cent by 0700 GMT, its highest since December 13. The five-year rate was at 6.48 per cent, also its highest in four months. Read more

Keystone Realtors sales up 41% to Rs 2,266 cr on strong housing demand

Keystone Realtors Ltd, which sells properties under ‘Rustomjee brand’, on Monday reported a 41 per cent growth in sales bookings to Rs 2,266 crore in financial year 2023-24, driven by strong housing demand.

Its sales bookings stood at Rs 1,604 crore in the 2022-23 fiscal year. Read more

Muthoot Microfin’s AUM rose 32% YoY in Q4, loan disbursement highest ever

Kochi-based microfinance institution, Muthoot Microfin’s assets under management (AUM) posted a 32 per cent year-on-year (YoY) growth in the quarter ended on March 31, 2024.

The AUM in the March quarter soared to Rs 12,194 crore as compared to Rs 9,208 crore during the same period a year ago. Read more

Voltas stock up 11% on strong sales growth in FY24; surpasses previous high

Shares of Voltas hit a record high of Rs 1,373.20 as they surged 11 per cent on the BSE in Monday’s intra-day trade after the company achieved highest-ever air conditioner (AC) sales of over 2 million AC units in the financial year 2023-24 (FY24), becoming the first company in the domestic market to cross this landmark. Read more

Biocon leads India’s push into anti-obesity drugs as patents lapse

Biocon Ltd. is pivoting to anti-obesity therapies as patents for the blockbuster medications start to expire, unleashing a wave of generic supply for the market that’s expected to touch $100 billion by 2030. Read more

Aster DM rallies 10% as board considers special dividend on April 12

The company engaged in hospital business said the consideration of special dividend was on account of segregation of the GCC business through the sale of Affinity Holdings Pvt Ltd, a subsidiary of the company, conducting business in the GCC region to Alpha GCC Holdings Limited. READ MORE

High on SUVs: India records all-time high passenger vehicle sales in FY24

The year also witnessed high demand for sports utility vehicles (SUVs). Fada said that for the first time in India, SUVs now hold a market share of 50 per cent. READ MORE

Mobile wallet payments in India to surpass Rs 531 trn in 2028: GlobalData

Over the next few years, payments via mobile wallets in India are likely to surpass the Rs 531.8 trillion mark in 2028, witnessing a compound annual growth rate (CAGR) of 18.3 per cent between 2024 and 2028, according to GlobalData – a London-based leading data and analytics company. READ MORE

ALERT :: Som Distilleries commences commercial production on increased capacity at Karnataka plant