Wednesday, March 11
Navi UPI has joined forces with ONDC to bring QR-based metro ticketing to commuters in Delhi, Mumbai, and Bengaluru via its app. This integration allows users to plan routes, book tickets, and pay seamlessly, aiming to digitize a significant portion of daily metro travel and reduce reliance on cash. The service is set to expand to more cities soon.
Sebi chairman Tuhin Kanta Pandey clarified that the regulator is not developing new frameworks for digital gold, emphasizing that only existing, regulated options like gold ETFs and tradable gold securities are under its purview. He also discussed Sebi's efforts to enhance the market for REITs and InvITs, including their classification for mutual funds.
Pakistan faces a critical juncture as a delayed IMF report reveals deep-rooted corruption and weak institutions. The Fund warns that only swift, comprehensive reforms can stabilize the economy. Implementing a governance overhaul could boost GDP significantly, but systemic failures persist, impacting revenue and public trust. Urgent action is needed to address these pervasive issues.
Amundi, the French asset manager, advises that India's central bank should consider a 50 basis point interest rate cut over the next year. They fear that economic momentum may wane in 2026 due to potential US tariffs. However, robust domestic demand and anticipated fiscal measures, such as adjustments to GST and reductions in income tax, could bolster growth.
Brokerage firms have initiated coverage on several Indian companies. Morgan Stanley is positive on LG Electronics. JP Morgan sees potential in Tata Capital. Emkay Global highlights Deepak Fertilizer's growth prospects. IDBI Capital is bullish on Adani Energy. Goldman Sachs maintains a buy rating on PTC Industries. These reports offer insights into future growth and investment opportunities.
Stock market today: NSE Nifty reached its 52-week high of 26,246.65 before settling at 26,192.15, up by 139.50 points or 0.54 per cent. The BSE Sensex concluded at 85,632.68, rising by 446.21 points or 0.52 per cent, after touching a 52-week peak of 85,801.70 during trading.
PhysicsWallah's post-listing surge has evaporated, with shares plummeting over 9% and erasing billions in market value. Despite the sharp decline, the edtech firm still trades above its IPO price. Experts cite strong fundamentals like brand recall and affordability, but caution against competition and regulatory risks.
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, rallied strongly in trade on Thursday nearing their lifetime highs. While Nifty50 went above 26,200, BSE Sensex was up over 500 points.
Goldman Sachs Asset Management highlights India as a prime investment opportunity for 2026, citing robust GDP growth, resilient corporate earnings, and a burgeoning consumer base. The report emphasizes India's youthful demographic, accelerating digital transformation, and its role in global innovation, making it a compelling destination for investors seeking quality growth.
