Tuesday, September 08
Mumbai: Domestic equity indices extended losses for the second straight session on Thursday as investors remained on edge in the face of the growing tensions between Washington and New Delhi over US tariffs on Indian imports.The NSE Nifty finished at 24,500.90, down 0.9% or 211.15 points. The BSE Sensex ended at 80,080.57, 0.9% or 705.97 points lower. Both indices have shed 1.9% in the past two days."The concerns on tariffs led to weaker sentiment and the monthly expiry further weighed in on the markets," said Sunny Agrawal, head of Fundamental Equity Research, SBICAPS Securities "There is a lack of positive triggers in the short term." He expects Nifty's downside to be restricted at 24,300.Elsewhere in Asia, China gained 1.1% while Japan and South Korea rose 0.8% and 0.3% respectively. In
Mumbai: Listed asset management companies have been on a tear in this year's trading, riding on record inflows and growing expectations of a more relaxed regulatory environment. But analysts warn that gains may moderate as industry competition rises and valuations may be stretched.Shares of Nippon Life India AMC have surged 56%, while HDFC AMC has gained 54%, UTI AMC 38%, and Aditya Birla AMC 36% in the past six months compared with an 11.3% rise in the Nifty Financial Services Index.Investor appetite for these AMCs has been driven by resilient flows into their equity schemes despite sharp swings in the stock market. In July, equity mutual funds collected ₹42,702 crore - the highest ever in a month - led by appetite for midcap, smallcap, and sectoral fund offerings. SIP contributions hit
Adani Power announced on Friday that the company has received the Letter of Award (LoA) from Bihar State Power Generation Company Ltd. (BSPGCL) for procurement of electricity over 25 years. The company will set up a 2,400 MW (800 MW X 3) power plant at Bhagalpur district of Bihar with an investment of USD 3 billion.In a statement, Adani Power said it has received a Letter of Award (LoA) for 25-years long-term procurement of electricity from Bihar State Power Generation Company Ltd. (BSPGCL), which it will supply from a 2,400 MW (800 MW X 3) greenfield ultra super critical plant to be set up at Pirpainti in Bhagalpur district of Bihar. This would be followed by the signing of the Power Supply Agreement (PSA) between the entities, the company stated.BSPGCL has awarded the LoA to Adani Power
