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Category: Business

Avenue Supermarkets share price: DMart made a big jump after a long pause

Dmart Share Price: Avenue Supermarts, the retail giant operating under the DMart brand, has experienced a remarkable surge in its share price after a prolonged period. The company, led by Radhakishan Damani, delivered exceptional third-quarter results for the financial year 2024-25, boosting investor confidence.

On January 3, 2025, during the last trading session of the week, Avenue Supermarts’ stock skyrocketed by 15%, adding ₹554 to its value and reaching ₹4,165. This remarkable performance caused the stock to hit an upper circuit, signaling robust investor demand.

The company’s revenue for the third quarter rose by 17.5%, climbing to ₹15,565.23 crore compared to ₹13,247.33 crore in the same period the previous year. This impressive growth highlights DMart’s resilience and effective business strategy despite challenging market conditions. By December 31, 2024, Avenue Supermarts had expanded its footprint to 387 stores across India, underscoring its strong market presence.

Even amid a broader market decline on Friday, Avenue Supermarts’ stock displayed exceptional strength. The previous session’s closing price was ₹3,611, but the stock surged to ₹4,165 during intraday trading before stabilizing at ₹4,024, marking an 11.43% gain. Despite this rally, the stock remains significantly below its all-time high of ₹5,900, reflecting a previous 40% drop from peak levels.

Indian stock market improved on Friday after sharp fall on Thursday, Sensex jumps

Indian stock markets rebounded on Friday after experiencing a significant drop on Thursday. The recovery brought a sense of relief as key indices regained lost ground.

The Nifty index climbed back above 24,000, and the Sensex saw an impressive rise of over 300 points. Early trading on Friday reflected this positive momentum. The BSE Sensex gained 216.18 points, reaching 79,259.92, while the NSE Nifty rose 78.6 points to settle at 23,992.75.

At the market’s opening, the Nifty 50 index recorded a slight increase of 13 points, or 0.05%, reaching 23,927.15. Meanwhile, the BSE Sensex started with a minor drop of 10 points, or 0.01%, at 79,032.99 but quickly turned positive.

On the currency front, the Indian rupee weakened slightly, trading at 84.49 against the US dollar, a two-paise drop in early trading.

Stock Market Continues to Decline, Sensex and Nifty Start in the Red

The domestic stock market witnessed another day of decline as trading began on a red mark on Monday. By 9:59 AM, the Bombay Stock Exchange (BSE) Sensex had dropped significantly by 393.74 points, trading at 77,186.57.

Similarly, the National Stock Exchange (NSE) Nifty also saw a decline, falling 132 points to trade at 23,400.70. However, Nifty Bank showed a contrasting trend, trading in positive territory at 50,248.25 with a gain of 68.7 points.

In the broader Asia-Pacific region, most stock markets were performing positively on Monday. Key economic updates from Asia this week include China’s Loan Prime Rate (LPR), scheduled for release on Wednesday. Analysts expect no changes in the LPR, which currently stands at 3.1% for one year and 3.6% for five years.

Other significant data releases this week include Japan’s trade figures on Tuesday and core inflation numbers for October on Friday. Additionally, Australia’s central bank is set to release the minutes from its latest meeting on Tuesday.

Foreign investors return to Indian stocks with net investment of Rs 4897 cr this week

This week (August 19–23), foreign investors returned to the Indian stock market in a big way.

The National Securities Depository Limited (NSDL) reports that foreign investors bought equity worth a net total of Rs 4,897.16 crore.

Comparing this to the previous week (August 12–17), when foreign portfolio investors were net sellers, selling stocks worth Rs 7,769.73 crore, is a big difference.

Sensex and Nifty Break Records: Sensex Opens at 80,322, Nifty at 24,369

Stock Market News: Indian stock markets scaled new heights on Thursday, as both the Sensex and Nifty opened at record highs. The Sensex opened at 80,322 points, while the Nifty opened at 24,369 points. This comes after a remarkable surge of more than 3,000 points for the Sensex since June 10th.

Market analysts attribute the rally to a combination of factors, including positive global cues and upbeat domestic investor sentiment. The ongoing earnings season for Indian companies has also been positive, with many companies reporting strong financial results. This has boosted investor confidence and led to increased buying activity in the stock markets.

Experts believe that the Indian stock market rally is likely to continue shortly. They cite several factors that could support further gains, such as continued positive sentiment from global markets, healthy corporate earnings, and a stable economic outlook in India.

Amid inflation concerns, the repo rate remained stable at 6.5%, announced RBI Governor Shaktikanta Das

RBI Repo Rate: The Reserve Bank of India‘s (RBI) Monetary Policy Committee (MPC) began meeting on June 5, 2024. Governor of the Reserve Bank of India Shaktikanta Das has said that the policy interest rate will remain at 6.5 percent.

As a result, the repo rate of 6.5 percent will not change. The repo rate has not changed as of yet by the central bank. By a vote of 4 to 2, the RBI’s MPC chose to maintain the repo rate at 6.5 percent. ‘Withdrawal of accommodation’ is the strategy that the meeting has chosen this time as well.

The other rates will stay unchanged if there is no change in the repo rate. The Reserve Bank of India has maintained the current rates for reverse repo, standing deposit facility, marginal standing facility, and bank accounts at 3.35 percent, 6.25 percent, and 6.75 percent, respectively.

The RBI has not changed the repo rate in the face of growing concerns over the nation’s rising inflation rate. Since February 2023, the repo rate has been maintained at 6.5 percent by the RBI.

Amazon is laying off an additional 9,000 employees in the second round

Adding to the 9,000 layoffs already announced by Amazon.com Inc., this is the company’s largest round of layoffs ever.

Following the completion of the second phase of its operating plan, Amazon has chosen to fire another 9,000 employees. The business has made the decision to let 18,000 employees go in January. The massive e-commerce company has now cut 27,000 jobs in total. The company’s largest layoff has ever occurred.

The changes, which would mostly impact the Twitch live streaming service business, Amazon Web Services, human resources, and advertising units, were announced internally on Monday by CEO Andy Jassy.

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