Sugar stocks continued to correct on Friday for the second day following the curbs by the government on ethanol production. Among the top losers were Shree Renuka Sugars which plunged over 7% in the opening trade amid high volumes, followed by Balrampur Chini, Rana Sugar, The Ugar Sugar Works and Dwarikesh Sugar, which lost up to 3%. The government, via a notification issued on Thursday.

Apple and its suppliers aim to build more than 50 million iPhones in India each year, within the next two-to-three years, with additional tens of millions of units planned thereafter, the Wall Street Journal reported on Thursday citing people involved.

India is moving to set up same-day market settlement before the end of fiscal year ending March 2024 and subsequently to instantaneous settlement a year later, the chairperson of country's markets regulator said on Friday. Currently trades in India are settled in "T+1" or one day after the trades are initiated. T+0 would mean settlements in the same day and instant settlement.

Reported Standalone quarterly numbers for LT Foods are: Net Sales at Rs 1,035.73 crore in September 2023 down 1.93% from Rs. 1,056.14 crore in September 2022. Quarterly Net Profit at Rs. 42.30 crore in September 2023 up 21.16% from Rs. 34.91 crore in September 2022. EBITDA stands at Rs. 65.52 crore in September 2023 up 12.23% from Rs. 58.38 crore in September 2022.

Reported Standalone quarterly numbers for Saheli Leasing and Industries are: Net Sales at Rs 0.57 crore in September 2023 up 68.96% from Rs. 0.34 crore in September 2022. Quarterly Net Profit at Rs. 0.04 crore in September 2023 up 115.38% from Rs. 0.02 crore in September 2022. EBITDA stands at Rs. 0.05 crore in September 2023 up 66.67% from Rs. 0.03 crore in September 2022.

Reported Standalone quarterly numbers for RKD Agri & Retail are: Net Sales at Rs 0.57 crore in September 2023 up 68.96% from Rs. 0.34 crore in September 2022. Quarterly Net Profit at Rs. 0.04 crore in September 2023 up 115.38% from Rs. 0.02 crore in September 2022. EBITDA stands at Rs. 0.05 crore in September 2023 up 66.67% from Rs. 0.03 crore in September 2022.

India is moving towards T+0 for market settlement before the end of the 2024 fiscal year and subsequently to instantaneous settlement in a year's time, the country's markets regulator chairperson told an industry event in New Delhi. Reuters had earlier reported in September that India's markets regulator would implement settlement within one hour of the trade.

The Reserve Bank of India (RBI) on December 8 said it will lay down a regulatory framework for web-aggregation of loan products. This comes after the central bank observed some concerns of loan products harming customers’ interest. “This is expected to result in enhanced customer centricity and transparency in digital lending,” RBI Governor Shaktikanta Das said in his monetary policy statement.

The Bank Nifty took a 0.7 percent leap to hit a fresh lifetime high of 47,170.25 levels on December 8 as investors cheered the Reserve Bank of India's monetary policy outcome. The Bank Nifty index is up over 5 percent this week and is on its way to clock its biggest weekly gain since July 2022. The index has surged over 9 percent so far this year, as against a 15 percent rally in the benchmark.

Apple is allocating product development resources for iPad to Vietnam, Nikkei reported on Friday, citing sources briefed on the matter. Apple is working with China's BYD, a key iPad assembler, to move new product introduction (NPI) resources to Vietnam, the report said, adding that this is the first time the company has shifted NPI resources to Vietnam for such a core device.

Bringing cheer to consumers, RBI Governor Shaktikanta Das on December 8 announced an increase in the UPI limit for specific transactions in his latest monetary policy statement. The limit for payments made to hospitals and educational institutions through UPI apps has been raised to Rs 5 lakh from Rs 1 lakh per transaction. This enhancement allows individuals to conduct larger transactions .

The Reserve Bank of India (RBI) sees average headline retail inflation falling to 4 percent in the second quarter of 2024-25, even as it retained the forecast for the current financial year. The central bank on December 8, as expected, held the repo rate steady at 6.5 percent. The quarterly break-up of the inflation forecasts is as follows: >> October-December 2023 CPI inflation forecast.

The Reserve Bank of India (RBI) on December 8 announced reversal of liquidity facilities on weekends and holidays from December 30. “We propose to allow reversal of liquidity facilities under both Standing Deposit Facility (SDF) and Marginal Standing Facility (MSF) even during weekends and holidays with effect from December 30, 2023.

Around 19 stocks, constituting 38 percent of the Nifty 50 Index, have recently achieved record highs during the extended bullish trend in the market, indicating a significant portion of the Nifty 50, a benchmark stock index in India, has experienced positive momentum and reached new peaks. These include companies such as SBI Life Insurance, PowerGrid Corp, Maruti Suzuki India, Nestle India!

The monetary policy committee (MPC) chose to retain the key policy rate, or repo, for the fifth time in a row on December 8. It came in line with the expectations of most economists. Earlier, all of the 10 economists and bankers who had participated in a Moneycontrol poll had predicted that the MPC will go for a status quo this time as well.