Markets traded with a cautious tone on Thursday and ended largely unchanged on the weekly expiry day for the Sensex. Analysts say the tussle for the next directional move in the Nifty continues, with a mildly negative undertone persisting. Apart from global cues, participants will closely watch the MPC’s stance on rates, growth, and inflation for signals amid an uncertain global environment and concerns around a weak monsoon.
In today's trade, shares of Tata Steel, ICICI Bank, Tata Motors, Vedanta, Maruti Suzuki among others will be in focus due to various news developments.
Tata Steel is targeting a near 9% rise in steel sales in India this fiscal year, aided by additional production from its facility in Kalinganagar, Odisha, which is currently ramping up. The company commissioned an additional five million tonne capacity at this facility last year, taking the total to eight million tonne.
Tata Motors chairman N Chandrasekaran has urged the automaker's passenger vehicle dealer network to prepare for its next phase of growth, outlining a goal of nearly doubling sales to about 1.2 million vehicles annually and capturing more than 20% market share by 2030, said multiple people who attended the company's dealer meet in Goa.
ICICI Bank said it has received a warning letter capital markets regulator Sebi related to the bank’s role as a custodian. The regulator issued the warning for permitting one foreign portfolio investor (FPI) to repatriate funds prior to completion of the committed retention period under the voluntary retention route (VRR).
Vedanta said the Enforcement Directorate (ED) has concluded search operations conducted at certain company premises under the provisions of the Foreign Exchange Management Act (FEMA), adding that no penalty, restriction or sanction has been imposed on the company.
Maruti Suzuki on Thursday launched what it described as India's first flex-fuel passenger car, positioning the technology as a key pillar in the country's efforts to reduce crude oil imports, lower carbon emissions and strengthen energy security.
