Wed, Jun 26, 2024 6:56 PM
Time Technoplast bags new order worth Rs 55 crore from IOCL
A Flip by Avya Verma
Foreign institutional investors (FIIs) have purchased Indian stocks worth approximately Rs 26,565 crore in June, a reversal from their net selling in the previous two months. This uptick is attributed to expectations of continued reforms, improved GDP growth forecasts, and solid earnings by India Inc. FIIs have focused on specific stocks in real estate, telecom, and financial services sectors.
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India's steel ministry is discussing rising imports, particularly cheap Chinese goods, with the commerce ministry, as the country becomes a net steel importer. Finished steel imports reached a 5-year high in April and May, up 19.8% from the previous year. Indian steel producers, such as Tata Steel, are calling for higher tariffs to counter cheap Chinese imports.
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NCR housing sales increased by 6% despite a decline in other metro cities, according to Anarock's report. New launches in NCR surged by 134% in Q2 2024, with 82% of them being luxury segments priced over INR 1.5 crore. The average property price in top 7 cities rose by 7% quarterly and 25% yearly, with NCR recording a 10% quarterly jump.
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