PremiumIndian indices started the week positively on Monday as Sensex zoomed 700 points, or 1.2%, to over 57,900 at open, while Nifty jumped above 17,250 points, or 1.02% higher. This week, investors will be closely looking at the Economic Survey and the Union Budget, among other domestic and global cues, to be presented by Finance Minister Nirmala Sitharaman on Monday and Tuesday respectively.
SaaS-based cold chain aggregator platform Celcius on Monday announced a financial tie-up with Shriram Transport Finance Company (STFC) to fund vehicles and working capital financing for the cold supply chain market.
Under the collaboration, which marks STFC's entry into the cold supply chain segment, the two partners will provide light and heavy commercial vehicles to the cold chain industry.
Shares of Shriram Transport Finance Company were trading 0.51% higher at 01:20 PM
The Survey will be made public after it is tabled in the Rajya Sabha
Finance Minister Nirmala Sitharaman on Monday presented the Economic Survey that details the state of the economy ahead of the government's Budget for the fiscal year beginning April 1, 2022.
It projects an 8-8.5 per cent growth rate for the Indian economy in 2022-23 fiscal year (April 2022 to March 2023).
This compares to 9.2 per cent GDP expansion projected by the National Statistical Office (NSO).
The Economic Survey 2021-22, details the state of different sectors of the economy as well as reforms that should be undertaken to accelerate growth.
The gross domestic product (GDP) contracted by 7.3 per cent in 2020-21.
The Survey focuses on supply-side issues to improve the resilience of the Indian economy.
The Bengaluru-based Lavelle Networks is a tech startup that specialises in Software-defined Wide Area Network solutions and it serves a range of industry segments.
Its platform has connected several thousands of Indian enterprises from the nation's largest financial institutions to e-commerce networks, a company statement said.
UPL Ltd today reported a net profit of ₹937 crore for the December quarter, up 18% from a year ago. It was ₹793 crore in the same quarter last year.
The company's revenue witnessed a growth of 24% to ₹11,297 crore, led by healthy growth in volumes and better product realizations.
Aditya Birla Sun Life AMC Ltd has announced the launch of Aditya Birla Sun Life Nifty Next 50 Index Fund, an open-ended scheme that will track the Nifty Next 50 Index. The new fund offer (NFO) opened for subscription on Monday and will close on 14 February.
As per the asset management company, the objective of the scheme is to provide returns that closely track the total returns of securities as represented by Nifty Next 50 Index.
To ensure that no one returns home hungry, my govt distributes free ration to the poor every month as part of PM Gareeb Kalyan Yojana. Today India is running world's largest food distribution program; it has been extended till March 2022: President Ram Nath Kovind
TechM (4,65%), Wipro (3.43%), Dr Reddy (3.28%), Infosys (3.15%), HCL Tech (2.75%)
The rupee appreciated 15 paise to 74.92 against the US dollar in opening trade on Monday, supported by the recovery in domestic equities.
However, the surge in the rupee was restricted amid elevated crude oil prices and firm American currency.
Meanwhile, Finance Minister Nirmala Sitharaman will present the Economic Survey 2021-22, later in the day.
At the interbank foreign exchange, the rupee opened at 74.97 against the American dollar, then inched higher to quote 74.92, registering a rise of 15 paise from the last close.
In the previous session, the rupee had settled at 75.07 against the greenback.
I request all MPs, elections keep happening but Budget Session is very important, we need to make it fruitful: PM Modi
With the Budget Session of Parliament commencing on Monday, the government is all set to lay Economic Survey 2021-22 along with Statistical Appendix in both Houses.
Economic Survey 2021-22 and the Statistical Appendix will be laid on the table of the Lok Sabha at around 12.45 pm by Union Finance Minister Nirmala Sitharaman
While it will be tabled in Upper House a few minutes after the House assembles at 2.30 pm.
Sitharaman will lay a copy of the Economic Survey, 2021-22 along with Statistical Appendix both in English and Hindi, mentioned the list of business of Rajya Sabha.
PM Modi addresses media ahead of Budget session. Finance minister Nirmala Sitharaman will table the Economic Survey today and the Union Budget tomorrow.
4 stocks to buy or sell today — 31st January
Shares of AGS Transact Technologies witnessed a flat listing on Monday as the stock started trading at ₹176 on the NSE, up 0.9% as compared to its IPO issue price of ₹175 apiece. On the BSE, the stock made its debut at ₹176 per share and surged over 3% to ₹180 in minutes after listing.
Equity benchmark Sensex surged 712 points in opening trade on Monday, tracking gains in index-majors Wipro, Bajaj Finance and Infosys amid a positive trend in the Asian markets.
Starting on a positive note, the BSE gauge was trading 712.61 points or 1.25 per cent higher at 57,912.84 in early trade. Likewise, the Nifty advanced 216.95 points or 1.27 per cent to 17,318.90.
Meanwhile, Finance Minister Nirmala Sitharaman will present the Economic Survey 2021-22 later in the day.
