Get App
Dalal Street closed higher as investors were buoyed by the Reserve Bank of India’s decision to keep key interest rates unchanged and maintained an accommodative stance despite liquidity unwinding by global central banks. The Sensex rose 0.70% and the broader peer Nifty gained 0.82%.
The RBI has decide to keep the repo rate unchanged at 4% and reverse repo rate at 3.35%.
The broader markets closed in the green with the Nifty Midcap gaining 0.99% and BSE SmallCap advancing 0.99%.
Top gainers among Nifty sector indices were Metal [2.07%], FMCG [2.03%], Energy [1.88%], PSU Bank [0.8%] and Auto [0.68%]. Nifty IT slipped 0.08%. All the other sectoral indices closed positively on Friday.
Indian rupee rose 7 paise to 75.89 against the US dollar on Friday.
Stock in News Today
Adani Group: Abu Dhabi-based International Holding Company (IHC) will invest $2 billion in three companies of Adani Group that would help the companies with its expansion plans. IHC will acquire 1.26% in Adani Green at Rs 1,923.2 per share, 1.41% stake in Adani Transmission at Rs 2,454.95 per share and 3.53% stake in Adani Enterprises for Rs 1,915.85 apiece.
Defence companies: Shares of the companies closed higher after the government announced plans to expand procurement of locally manufactured products. Defence Minister Rajnath Singh on Thursday released the third positive indigenisation list of 101 equipment and platforms, which the Services can procure only from the domestic industry. Top gainers were Bharat Dynamics [15.35%], Bharat Electronics [2.24%], Mishra Dhatu Nigam [8.9%], Hindustan Aeronautics [2.7%], Cochin Shipyard [1.85%] and Bharat Forge [2.35%].
JSW Steel: The manufacturer posted a combined crude steel production of 5.98 million tonne (MT) for the quarter ended March 31, 2022. The production was 37 per cent higher at 5.98 MT, as against 4.36 MT steel in the year-ago period.
Ruchi Soya: Shares of the company rose nearly 13% after shares under the recently concluded follow-on public offering (FPO) started trading today. About 66.15 million new shares issued in the Rs 4,300-crore FPO began trading today.
Tejas Networks: The company has received an upgrade rating agency ICRA in long term rating to ICRA A+ from ICRA A- and an upgrade in short term rating to ICRA A1+ from ICRA A2+. The outlook on long term rating is Stable and the ratings have been removed from rating watch with positive implications. Shares of the company rose 3.13%.
ABB India: The company inaugurated its expanded Digital Substation Products and Digital Systems factory in Vadodara, Gujarat. This new factory will meet the growing demand for a wide range of digital substation products and digital solutions in India and in more than 50 countries.
Hester Biosciences: Shares of the company rose 3.08% after the company announced that it received approval for grant of Rs 60 crore to the company by Biotechnology Industry Research Assistance Council.
Rail Vikas Nigam (RVNL): The company has signed an MoU with ICF for manufacture and acquisition of 296 communication-based train control system compliant metro coaches for the Kolkata Metro Railway project.
Uflex Ltd: Shares of the company rose 4.6% after CRISIL Ratings upgraded the long-term and the short-term rating on the bank facilites of the company. The credit rating agency has upgraded the rating on the long-term bank facilities of Uflex to ‘CRISIL AA-/Stable’ from ‘CRISIL A+/Stable’. The short-term rating has been upgraded to ‘CRISIL A1+’ from ‘CRISIL A1’.
Sindhu Trade Links: The board of the company has recommended bonus issue of shares in the ratio of 2:1. The company proposes to issue 2 bonus equity shares to the existing shareholders for every 1 existing paid up equity share held by them as on a record date, to be fixed for the said purpose.