Business

Benchmark Indices Rise by 1.8%; All Sectors, Except FMCG, Close in the Green

Published

1 year ago

February 5, 2025

The benchmark indices experienced a significant rise of 1.8% on Tuesday, driven by robust performances in the capital goods, banking, energy, and automotive sectors. At the end of the trading day, the Sensex rose by 1.81%, adding 1,397.07 points to close at 78,583.81, while the Nifty was up 1.6%, gaining 378.20 points to settle at 23,739.25, marking a notable rebound.

During the session, the Nifty reached a high of 23,762.75 and a low of 23,423.15, while the Sensex also demonstrated similar momentum, trading within a range of 78,658.59 to 77,402.37.

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On the sectoral front, all indices except for FMCG ended the day in positive territory, with Nifty PSU Bank, Infrastructure, Energy, and Oil & Gas all registering gains of 2% each. The Nifty Midcap index saw a rise of 1.6%, and the Smallcap index increased by 1%.

The Indian rupee appreciated by 12 paise, closing at 87.07 per dollar compared to Monday’s rate of 87.19. Notable gainers on the Nifty included Shriram Finance (5.60%), Larsen & Toubro (4.56%), Bharat Electronics (3.78%), Adani Ports & Special Economic Zone (3.71%), and Indusind Bank (3.40%). Conversely, the laggards were Trent (6.27%), Britannia Industries (1.51%), Hero Motocorp (1.16%), Nestle India (0.76%), and Eicher Motors (0.62%).

The Bank Nifty closed at 49,210.55 after reaching an intraday high of 50,206.6 and a low of 49,482.5. Stocks like Bajaj Finance, Mahindra & Mahindra (M&M), UPL, and SRF hit their 52-week highs on the BSE.

Among individual stocks, Divi’s Laboratories saw its shares surge over 5% as investors responded positively to the company’s impressive earnings results for the December quarter. Additionally, Godrej Properties reported a remarkable 163% increase in consolidated net profit, reaching Rs 163 crore for the quarter ending December 31, and shares of Larsen & Toubro jumped nearly 5%.

Meanwhile, the FMCG sector continued its downward trend for the second consecutive day, countering the initial positive reaction following the Budget announcement. United Breweries dropped by 2.91%, while Godrej Consumer Products fell nearly 2%. ITC Hotels and Colgate experienced slight declines of 0.011% and 0.38%, respectively.

Overall, market sentiment remained optimistic as investors eagerly anticipated the Reserve Bank of India’s bi-monthly policy announcement scheduled for Friday.

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Business

Opendoor Shuts Down India Operations, 250 Employees Affected

Published

1 week ago

June 11, 2026

Namma Kudla

Business: US-based real estate technology company Opendoor has decided to close its operations in India. The move will impact nearly 250 employees.

CEO Kaz Nejatian said the company is bringing operational roles closer to its customers in the United States. He explained that most of Opendoor’s customers are based in America.

The company said the decision is not related to the performance of its India team. Nejatian praised the employees for their hard work and contributions.

Affected workers will receive severance pay, job placement support, and other assistance. A small number of employees will stay temporarily to help with the transition.

Opendoor said it will continue focusing on simplifying operations and improving efficiency with new technology and AI.

Business

Domestic LPG Cylinder Price Increased by Rs 29

Published

2 weeks ago

June 7, 2026

Namma Kudla

New Delhi: The price of domestic LPG cooking gas cylinders has been increased by Rs 29 across India. This is the second price hike in the last three months.

The increase comes as global energy prices continue to rise due to the ongoing conflict in the Middle East.

After the revision, a domestic LPG cylinder now costs Rs 942 in Delhi, Rs 941.40 in Mumbai, Rs 968 in Kolkata, and Rs 957.50 in Chennai. In Bengaluru, the new price is Rs 944.50 per cylinder.

The government said the cost of supplying LPG has increased significantly. However, subsidies under the Pradhan Mantri Ujjwala Yojana continue to help over 10 crore beneficiaries.

Petrol, diesel, and CNG prices have also increased in recent weeks as global fuel markets remain volatile.

Business

Honda Begins Delivery of 2026 City Hybrid

Published

2 weeks ago

June 3, 2026

Namma Kudla

Business: Honda Cars India has started delivering the new 2026 Honda City Hybrid to customers. The first car was handed over at a dealership in Bengaluru.

Honda President and CEO Takashi Nakajima attended the special delivery event. Other senior company officials were also present.

The first customer received a Crystal Black Pearl Honda City Hybrid. The car was delivered with a symbolic key and a gift hamper.

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The updated City comes with new features such as ventilated front seats and a 360-degree camera. It also offers wireless Apple CarPlay, Android Auto, and a sunroof.

The sedan is available with petrol and strong-hybrid powertrain options. Honda claims the hybrid version delivers a mileage of 27.26 kmpl.

The Honda City competes with the Volkswagen Virtus, Skoda Slavia, and Hyundai Verna in India.