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Bloomberg Quint
19h
173
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Waaree Renewable Technologies Wins Rs 114 Crore Solar Project Order
- Waaree Renewable Technologies has won a Rs 114.23 crore solar project order under the Mukhyamantri Saur Krushi Vahini Yojana-2.0.
- The project includes setting up a 94 MW AC/131.6 MW DC capacity solar power project with EPC works and operation and maintenance services.
- The project is expected to be completed in 2025-26 according to the terms of the order.
- Waaree Renewable Technologies boasts a market cap of over Rs 12,820 crore and recently received a letter of award to execute this solar project.
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Bloomberg Quint
19h
159
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JSW Steel To Consider Fundraise Via QIP, NCD Issue On May 23
- JSW Steel's board will meet on May 23 to consider raising funds through qualified institutional placement or issuance of non-convertible debentures.
- The proposal includes raising long-term funds, such as QIP of permissible securities and issuance of Non-Convertible Debentures, subject to regulatory approvals.
- JSW Steel previously aimed to raise around $900 million through loans from international lenders. The company will also release its March 2025 quarter results and may announce dividends.
- In the last trading session, JSW Steel's shares closed 1.59% lower at Rs 1,021.80 apiece on the NSE. Analysts suggest a 'buy' rating on the stock with a 0.5% upside potential per Bloomberg data.
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Bloomberg Quint
19h
351
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Borosil Renewables Approves Rs 950 Crore Expansion To Boost Production Capacity
- Borosil Renewables approved a revised expansion plan to increase production capacity by 600 tonnes per day at an estimated cost of Rs 950 crore.
- The expansion involves setting up two furnaces of 300 TPD each at the cost of Rs 950 crore, up from the original estimation of Rs 675 crore for 500 TPD.
- The decision was made in anticipation of favorable market conditions post the government's anti-dumping measures on solar glass imports from China and Vietnam.
- The company plans to finance the projects through a mix of equity, debt, internal accruals, or other suitable means and aims for higher production volumes and sales due to the capacity increase.
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Bloomberg Quint
19h
307
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Google Rolls Out New AI, Accessibility Updates Across Android, Chrome
- Google has rolled out new accessibility updates to its products across Android and Chrome.
- The company integrated Google AI and Gemini into core mobile experiences for customized experiences related to vision and hearing.
- New resources for developers building speech recognition tools have been added.
- Updates include features like Expressive Captions for real-time captions, improved PDF accessibility on Chrome, and enhanced reading with Page Zoom on Android.
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Bloomberg Quint
19h
118
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Alcoholic Beverage Companies To See 8-10% Revenue Growth In FY26, Says Crisil Report
- Indian alcoholic beverage industry projected to witness 8-10% revenue growth in the current fiscal year, reaching Rs 5.3 lakh crore with a 13% CAGR over the past three years.
- Operating profitability expected to increase by 60-80 basis points, driven by ongoing premiumization in the sector, with spirits dominating the industry.
- Factors like urbanization, expanding drinking population, and rising disposable incomes projected to fuel industry volume growth of 5-6%, supporting sector growth.
- Higher volumes and realizations likely to enhance profitability for players, despite expected marginal increases in input costs for raw materials like ENA, barley, and packaging.
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Bloomberg Quint
19h
185
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2025 Emilia Romagna Grand Prix: How To Watch Imola GP In India?
- The Emilia-Romagna Grand Prix 2025 is scheduled to start on May 17 and marks the beginning of the European triple-header in the Formula 1 season.
- McLaren's Oscar Piastri leads the championship, followed by teammate Lando Norris who is 16 points behind.
- Max Verstappen is 32 points behind Piastri and aims to replicate his previous victory at Imola.
- Fans in India can watch the Emilia-Romagna Grand Prix 2025 on the Fancode app, while the race will be live on Sky Sports in the UK and ESPN in the US.
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Bloomberg Quint
19h
174
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Nifty Top Gainers, Losers On May 16: BEL, TCPL To Airtel, HCLTech
- The NSE Nifty 50 closed 0.17% lower at 25,019.8 and the BSE Sensex ended 0.24% down at 82,330.59.
- BEL, Tata Consumer Products, Bajaj Auto, Adani Enterprises, and Eternal emerged as top gainers of the NSE Nifty 50 while Bharti Airtel, HCL Technologies, SBI, JSW Steel, and Infosys were among the biggest losers.
- BEL was the best performer, closing 3.85% higher at Rs 363.9 apiece. Airtel was the biggest loser, closing 2.85% lower.
- The benchmark equity indices closed lower on Friday after rallying for two consecutive sessions, with the NSE Nifty 50 closing 0.17% lower and the BSE Sensex ending 0.24% down.
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Bloomberg Quint
20h
74
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Talking Point This Week: All Is Well?
- Key talking points of the week include the US-China tariff truce and India's retail inflation hitting a 69-month low.
- The S&P 500 reached its highest level since March due to the US-China tariff reduction deal that sparked a stock market rally.
- Donald Trump signed an executive order to lower drug prices and criticized Apple's India production plans, focusing on domestic manufacturing.
- The BSE Sensex and NSE Nifty 50 surged over 4% to seven-month highs driven by factors like an India-Pakistan ceasefire and US-China tariffs.
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Bloomberg Quint
20h
92
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India To Become Self-Reliant In Fighter Jet Making In Next Few Years: Ex-Chief Designer Of LCA Tejas
- India is expected to achieve self-reliance in manufacturing fighter jets in the coming years, as stated by Kota Harinarayana, the former chief designer of India's Light Combat Aircraft Tejas.
- The ecosystem for aircraft manufacturing in India has been developed, with advancements in technology to produce indigenous aircraft of various categories to meet the Indian Air Force's requirements.
- Harinarayana expressed confidence in India's ability to become an exporter of defense products, transitioning from procuring such products from other countries to self-sufficiency.
- The successful utilization of defense products, including countering attacks and testing indigenous technologies like 'Bhargavastra' for counter-drone systems, showcases India's growing capabilities in the defense sector.
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Bloomberg Quint
20h
25
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Lucknow Jewellers Decide To Boycott Turkish Jewellery
- Jewellers in Lucknow have decided to boycott Turkish jewellery items following Turkey's active support for Pakistan during recent hostilities with India.
- The decision includes boycotting the purchase, sale, and display of Turkish-design jewellery and other items imported from Turkey.
- Turkish jewellery sales, which were popular especially during Akshay Tritiya, have now been halted, with orders being cancelled and imports stopped completely.
- The boycott extends beyond jewellery, with concerns over tourism, trade ties, and educational collaborations between India, Turkey, and Azerbaijan.
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Bloomberg Quint
20h
122
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Turkish Apples Off Shelves In Alwar's Fruit Markets As Traders Join Turkiye Boycott Call
- Turkish apples are off the shelves in Alwar's fruit markets in Rajasthan as traders join the boycott against Turkish products following Turkiye's backing of Pakistan during India's military strikes on terror camps in the neighbouring country.
- The boycott call is part of a nationwide movement against Turkish products and travel to Turkiye due to its support for Pakistan and condemnation of India's strikes on terror camps in Pakistan and PoK.
- The Fruit Mandi Union in Alwar has stopped the sale of Turkish apples, amounting to over 15 tonnes daily from March to June, in order to send a message and hurt Turkiye's economic interests.
- Traders have assured alternative apple sources from Kashmir, Himachal Pradesh, and South Africa to meet consumer demand, stressing on the importance of avoiding tourism in Turkiye to respond economically to its alignment with Pakistan.
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Bloomberg Quint
20h
3
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Hyundai Declares Dividend Of Rs 21 Per Share
- Hyundai Motor India Ltd. recommended a final dividend of Rs 21 per share for financial year 2025, totaling around Rs 1,706 crore.
- Retail investors holding up to 3% stake will receive up to Rs 51 crore as dividend.
- In Q4 FY25, Hyundai's net profit fell 4% year-on-year to Rs 1,583 crore, with revenue up 2.5% at Rs 17,562 crore.
- Hyundai plans to expand offerings in the premium segment, introduce hybrid powertrains by 2030, and invest Rs 7,000 crore in fiscal 2026.
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Bloomberg Quint
20h
342
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Stock Market Highlights: Nifty Settles In Red On Friday Blues But Holds Key 25,000 Level
- The benchmark equity indices closed lower on Friday after rallying for two consecutive sessions, with the NSE Nifty 50 ending 0.17% lower at 25,019.8 and the BSE Sensex closing 0.24% lower at 82,330.59.
- During the day, the Nifty fell to 24,953.05, while the Sensex declined to 82,146.95. The Nifty gained 4.21% weekly and the Sensex advanced by 3.62%.
- Sectoral themes played out with shares of Bharat Electronics Ltd., Bajaj Auto Ltd., Tata Consumer Products Ltd. among the top gainers, while Bharti Airtel Ltd. and HCL Technologies Ltd. were the biggest laggards.
- In the broader market, the BSE MidCap and SmallCap outperformed the benchmark Sensex, ending 0.82% and 1.15% higher respectively. Market breadth favored buyers with 2,601 stocks advancing, 1,370 declining, and 148 remaining unchanged on the BSE.
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Bloomberg Quint
20h
207
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Rupee Strengthens Against US Dollar After One-Day Loss
- The rupee strengthened by 3 paise against the US Dollar, closing at 85.52 after a one-day loss.
- The dollar index declined, leading to the rupee's gain. The rupee opened stronger at 85.27 but hit a low of 85.70 during the trading session.
- India's trade deficit widened in April, pressuring the rupee. Oil prices also fluctuated due to concerns over supply and demand dynamics in the market.
- Experts believe the rupee may remain range-bound in the near term due to a softer dollar and strong equity inflows, with USDINR expected to trade between 84.80–85.80.
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Bloomberg Quint
20h
14
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HSBC Sees India, Japan, China As Favored In Trade Deal Talks
- HSBC economist sees India, Japan, and China in a favorable position for long-term trade deals with the US.
- Japan, as the largest investor in the US, may be the first in line for a trade deal among Asian economies.
- Reasons for potential trade deals with these countries include India offering to drop tariffs and continued US-China talks.
- Asian economies like Japan, India, Indonesia are collectively more important for US multinational corporations than China, leading to potential lobbying against raising trade barriers.
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