Business

Market Continues Winning Streak for Fourth Consecutive Session

Published

1 year ago

March 22, 2025

The stock market continued its upward trend for the fourth consecutive session on Thursday, buoyed by positive global market conditions following the US Federal Reserve’s decision to maintain the benchmark interest rate. By the end of the day, the Sensex had risen by 899.01 points, or 1.19%, closing at 76,348.06, while the Nifty climbed 283.05 points, or 1.24%, to reach 23,190.65.

Indian indices opened on a positive note, with the Nifty breaching the 23,000 mark and extending its gains to surpass 23,200 during the day before closing near its high.

The BSE Midcap and Smallcap indices reflected strong momentum, each gaining 0.5%. All sectors ended in the green, with notable increases of around 1% in metal, media, IT, FMCG, automotive, consumer durables, real estate, and telecom.

IT stocks experienced a boost, rising by 1.3%, supported by the Fed’s indication of two expected rate cuts in 2025, which enhanced investor confidence and contributed to five consecutive days of gains in domestic IT stocks that mirrored advances in US tech shares.

On the Nifty, 44 out of 50 constituent stocks finished higher, with significant contributions from Bharti Airtel, Titan, Britannia, Eicher Motors, and Bajaj Auto, which each saw increases of up to 4.08%. Conversely, a few stocks such as IndusInd Bank, Trent, Shriram Finance, and Bajaj Finance recorded declines of up to 1.11%, while UltraTech Cement and Axis Bank remained flat.

On the BSE, more than 100 stocks reached 52-week lows, including KEI Industries, Paushak, Veritas, Kesoram Industries, GVK Power, Suyog Telematics, and EKI Energy, among others.

IndiGo reached a new all-time high, rising 4% amidst ongoing bullish sentiment from brokerages. Hindustan Copper surged by 6% as copper prices surpassed $10,000 per ton.

Key laggards included KEI, which fell 13% while Polycab dropped 9% and Havells declined over 5% following the Adani Group’s announcement about entering the cables and wires sector through its joint venture, Praneetha Ecocables.

Additionally, shares of Paytm fell by 6% after Jefferies reiterated a ‘hold’ rating due to concerns about growth and potential challenges ahead. IndusInd Bank shares, which are dealing with a crisis, fell over 1%, reversing early gains after the RBI referred to its derivatives issue as an isolated incident.

Despite ongoing global uncertainties contributing to market volatility, recent actions by the government and central bank are anticipated to bolster economic growth.

Business

Opendoor Shuts Down India Operations, 250 Employees Affected

Published

7 days 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.

WATCH VIDEO:

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.