Sat, Feb 3, 2024 2:04 PM
India can sustain current levels of growth with or without private capex.
A Flip by Avya Verma
Hotels and airlines stocks plunged up to 6.4% on Monday after the Indian government confirmed three cases of HMPV in the country bringing back memories of Covid-19 which had brought the sectors to a standstill. Major hospitality stocks like 📌IHCL, 📌Lemon Tree Hotels, 📌Samhi Hotels, 📌EIH and 📌EIH Associated Hotels were down between 6.4% and 5% in the day's trade.
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📈 Domestic benchmark indices closed on a bearish note after the volatile session on 6 January, 2025. 📢 At 3:30 PM, the Sensex tanked by 1,258.12 points or 1.59% at 77,964.99, and the Nifty ended lower by 388.70 points or 1.62% at 23,616.05. 📊Among sectoral indices, PSU Bank (⬇️4%), PSE (⬇️3.58%), and Energy (⬇️3.24%) witnessed considerable selling pressure.
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Happy Forgings shares gained more than 5% on Monday, January 6, after the company’s Board of Directors approved a capex of nearly ₹650 crore for setting up new facilities. Shares of Happy Forgings have gained 0.78% in the last one week, while declining nearly 9% in the past month. The stock has dropped over 14% in the last three months, while sliding over 20% in the past six months.
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