Realty major <keyword id="19921617" type="General" weightage="20" keywordseo="DLF" source="keywords" meta.keywordsubtype="org" meta.entityname="DLF" meta.hostid="261" meta.entityid="DLF">DLF</keyword> on Thursday said it has sold all 795 <keyword id="20454285" type="General" weightage="20" keywordseo="apartments" source="keywords">apartments</keyword> for Rs 5,590 crore within three days of the launch of its new <keyword id="19946118" type="General" weightage="20" keywordseo="luxury" source="keywords">luxury</keyword> housing project in Gurugram amid strong consumer demand. In a regulatory filing, the company informed the success of its latest luxury <keyword id="20059213" type="General" weightage="20" keywordseo="residential" source="keywords">residential</keyword> project '<keyword id="20184489" type="General" weightage="20" keywordseo="dlf-privana" source="keywords">DLF Privana</keyword> West' "achieving a remarkable sellout valued at approximately Rs 5,590 crore, within 3 days." The new project is spread over 12.57-acre comprising 795 apartments. In January this year, the company had sold 1,113 luxury apartments in Gurugram for Rs 7,200 crore within three days of the launch of its project 'DLF Privana South', which is spread over 25-acre. Both 'DLF Privana West' and 'DLF Privana South' are part of 116-acre 'DLF Privana' township located in Sector 76 and 77. Aakash Ohri, Joint Managing Director and Chief Business Officer, <keyword id="21586934" type="General" weightage="20" keywordseo="DLF-Home-Developers-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="DLF Home Developers Ltd" meta.hostid="261" meta.entityid="DLF Home Developers Ltd">DLF Home Developers Ltd</keyword>, said, "After the overwhelming success of DLF Privana's inaugural project DLF Privana South, 'DLF Privana West' emerges as the next chapter in this story, meticulously designed to cater to discerning homebuyers' aspirations for spacious, luxurious abodes within a vibrant, well-connected community." He said NRIs have bought a substantial portion of apartments in this new project. "Our aspiration with DLF Privana and its associated projects is to emulate the success of DLF Phase 5, by curating an integrated ecosystem of luxury residences amidst abundant greenery, fulfilling the most coveted lifestyle requisites." In March last year, DLF sold 1,137 luxury apartments, priced Rs 7 crore and above, in its housing project in Gurugram for over Rs 8,000 crore within 3 days. Gurugram housing market has witnessed a significant growth in demand for residential properties, leading to a sharp rise in prices. The demand has sustained so far despite the hefty price appreciation. Overall also, India's housing market across the top seven major cities has been performing very well post-COVID pandemic on pent-up demand and rising aspirations for homeownership. DLF is India's leading real estate developer in market capitalisation. DLF has developed more than 158 real estate projects and developed an area in excess of 340 million square feet. DLF Group has 215 million square feet of future development potential across residential and commercial segments. The group has an annuity portfolio of over 42 million square feet. DLF is primarily engaged in the business of development and sale of residential properties (the "Development Business") and the development and leasing of commercial and retail properties (the "Annuity Business"). SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/indegene-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109952516.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/indegene-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109952516.cms" target="_blank">Indegene IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/apps/news/google-wallet-launched-in-india-store-your-loyalty-cards-boarding-passes-and-more/articleshow/109941139.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/apps/news/google-wallet-launched-in-india-store-your-loyalty-cards-boarding-passes-and-more/articleshow/109941139.cms" target="_blank">Google Wallet launched in India – store your loyalty cards, boarding passes and more</a><a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank">Top-selling cars in India in April 2024 – Tata Punch continues to dominate</a>

DLF sells all 795 luxury flats for ₹5,590 cr in new project at Gurugram within 3 days of launch

IT firm <keyword id="20282491" type="General" weightage="20" keywordseo="Happiest-Minds-Technologies" source="keywords" meta.keywordsubtype="org" meta.entityname="Happiest Minds Technologies" meta.hostid="261" meta.entityid="Happiest Minds Technologies">Happiest Minds Technologies</keyword> reported a 24.83 per cent increase in consolidated net profits at Rs 71.98 crore for the quarter ended March 2024, and said it expects to encash on its newly launched GenAI business unit. According to a stock exchange filing, the company clocked a profit of Rs 57.66 crore in the year-ago period. Revenue from operations for the reporting quarter stood at Rs 417.29 crore, as against Rs 377.98 crore in Q4FY23, translating into a 10.4 per cent rise. Revenue for the quarter was led by the edutech vertical (22.3 per cent), followed by healthcare (16.1 per cent). Executive chairman Ashok Soota said the newly created Gen AI business unit, the creation of six new industry groups, and the successful closure of two acquisitions have put the company back on course towards accomplishing its 'long-term vision of USD 1 billion in revenues by FY31'. Annual profits saw a 7.53 per cent rise to Rs 248.39 per cent, as compared to the previous fiscal's Rs 230.99 crore. Revenue for financial year 2023-24 was at Rs 1,624.66 crore, a 13.66 per cent climb over FY23's Rs 1,429.29 crore. "Happy to report a full-year revenue growth in constant currency of 11 per cent and EBITDA of 24.6 per cent. I am proud of our performance, especially in the face of a challenging year faced by our industry. "Acquisition of PureSoftware Technologies and Macmillan Learning should help us in our growth story while delivering value to all our stakeholders," MD and CFO Venkatraman Narayanan said. He gave an estimated growth guidance of 35-40 per cent for FY25. Happiest Minds Technologies has signed a definitive agreement to acquire 100 per cent equity interest in PureSoftware Technologies for a total purchase consideration of Rs 779 crore. The acquisition is expected to be completed before May 31, 2024. The company's headcount as of Mar 31, 2024 was 5,168, at an attrition of 13 per cent. "For FY24, part of our headcount has come from the campus batch... our latest batch is ready for deployment... for fresher hiring, we are being agile in approach in going back to campus, we will take a call around August... Given the nature of digital space, there is wide range of technologies... and based on the demand, we do need to go and bring people on board," <keyword id="20282489" type="General" weightage="20" keywordseo="joseph-anantharaju" source="keywords">Joseph Anantharaju</keyword>, executive vice chairman, said. He further said the company's deal pipeline continues to be strong, "there was a dip in Q3 but Q4 was reflective of the changes that we made... our efforts around GenAI are really paying off". In October last year, the company established a new business unit, Generative AI Business Services (GBS). Soota said foray into GenAI is a transformational opportunity for the company. Anantharaju said the IT firm expects to see growth through account expansion and 'aggressive account mining'. Pre-tax profit (EBIT) at Rs 96.15 crore was up 21.18 per cent year-on-year. Soota, during the company's press conference, said FY25 is poised to be the company's best year since its IPO. The company recommended a final dividend of Rs 3.25 per equity share of Rs 2 each for the financial year ended March 31, 2024, subject to shareholders approval. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/indegene-ipo-company-details-to-risk-factors-all-you-need-to-know/slidelist/109888922.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/indegene-ipo-company-details-to-risk-factors-all-you-need-to-know/slidelist/109888922.cms" target="_blank">Indegene IPO: Company details to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank">Worldwide tablet shipments grow in Q1 2024 after two years of decline</a><a href="https://www.businessinsider.in/tech/news/asus-zenbook-duo-review/articleshow/109875023.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/asus-zenbook-duo-review/articleshow/109875023.cms" target="_blank">Asus ZenBook Duo review – an excellent dual-screen laptop for multitaskers</a>

Happiest Minds Tech Q4 profit up 25% to ₹72 cr, co hopes to see growth in GenAI vertical

In 2023, there has been a sharp rise in low-performing shopping malls with approximately 13.3 million square feet of <keyword id="20144408" type="General" weightage="20" keywordseo="retail-space" source="keywords">retail space</keyword> categorised as 'ghost shopping centre', a 59 per cent year-on-year surge. According to <keyword id="19895044" type="General" weightage="20" keywordseo="Knight-Frank-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Knight Frank India" meta.hostid="261" meta.entityid="Knight Frank India">Knight Frank India</keyword>'s latest report, 'Think <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> Think Retail 2024: Shopping Centre and High Street Dynamics Across 29 Cities', there has been an increase of 238 per cent year-on-year in Ghost Shopping Centre in terms of leasable area since 2022 in the prime markets. As a result of the rise in 'ghost <keyword id="21560774" type="General" weightage="20" keywordseo="shopping-centres" source="keywords">shopping centres</keyword>', Knight Frank India estimated that loss of value to be at Rs 67 billion or USD 798 million, in 2023. As per definition, ghost malls are shopping centres, typically having a high vacancy rate and low consumer footfalls. According to the report by the global property consultant, National Capital Region (NCR) accounted for the highest ghost shopping centre stock, measuring at 5.3 million sq ft (rise of 58 per cent year-on-year), followed by Mumbai with 2.1 million sq ft (rise of 86 per cent year-on-year) and Bengaluru with 2.0 million sq ft (rise of 46 per cent year-on-year). Hyderabad is the only city to record a decline in the ghost shopping centre stock by 19 per cent year-on-year to 0.9 million sq ft in 2023. The sharpest rise in ghost shopping centres was recorded in Kolkata (237 per cent year-on-year), though on a lower base. In tier 1 cities, the total number of shopping centres have reduced in a period of one year. Despite the addition of eight new retail centres, total number of shopping centres reduced to 263 in 2023 as 16 shopping centres were shut down over the last year. Underperforming shopping centres were either demolished due to reasons such as developers undertaking residential or commercial developments or were permanently closed or auctioned. The report delved into the retail real estate markets beyond the top-tier markets. This study covered 340 shopping centres and 58 high streets across 29 Indian cities, conducted through primary surveys. According to Knight Frank Research, as of 2023, India has a total shopping centre stock of 125.1 million sq ft. The top 8 Indian cities constitute 75 per cent of the total gross leasable area, at 94.3 million sq ft across 263 shopping centres while Tier 2 cities constitute 30.8 million sq ft. Of the top 8 cities, NCR (31.3 mn sq ft), Mumbai (16.3 mn sq ft) and Bengaluru (15.6 mn sq ft) were the top three cities in the pecking order of leasable area available in the shopping centres. In the report, Knight Frank has projected potential revenue of the shopping centres across 29 cities to reach USD 14 billion during 2024-25. The revenue projections for shopping centres is based on an extensive primary survey of 340 shopping centres, including the top 8 cities. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/indegene-ipo-company-details-to-risk-factors-all-you-need-to-know/slidelist/109888922.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/indegene-ipo-company-details-to-risk-factors-all-you-need-to-know/slidelist/109888922.cms" target="_blank">Indegene IPO: Company details to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank">Worldwide tablet shipments grow in Q1 2024 after two years of decline</a><a href="https://www.businessinsider.in/tech/news/asus-zenbook-duo-review/articleshow/109875023.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/asus-zenbook-duo-review/articleshow/109875023.cms" target="_blank">Asus ZenBook Duo review – an excellent dual-screen laptop for multitaskers</a>

Ghost shopping malls surged 59% in 2023, 16 retail centres shut across top cities

Thick smoke from an intense <keyword id="20187121" type="General" weightage="20" keywordseo="forest-fire" source="keywords">forest fire</keyword> engulfed Srinagar in <keyword id="19918812" type="General" weightage="20" keywordseo="Uttarakhand" source="keywords" meta.keywordsubtype="org" meta.entityname="Uttarakhand" meta.hostid="261" meta.entityid="Uttarakhand">Uttarakhand</keyword>'s Pauri Garhwal district, causing significant delays in <keyword id="21557216" type="General" weightage="20" keywordseo="aerial-firefighting" source="keywords">aerial firefighting</keyword> operations by the Indian Air Force (<keyword id="19900590" type="General" weightage="20" keywordseo="IAF" source="keywords">IAF</keyword>). The IAF's MI-17 helicopters, which were scheduled to begin water-dropping operations at 6:30 am, remained grounded until visibility improved. Vinay Shankar Pandey, Commissioner of Garhwal, told that the dense smoke caused by the forest fire hindered the helicopter's ability to take off. He indicated that the Indian Air Force's <keyword id="21557217" type="General" weightage="20" keywordseo="firefighting-efforts" source="keywords">firefighting efforts</keyword> would commence shortly after the visibility increases. "Air operation could not start since this morning due to the smoke of forest fire, he said that the Air Force's fire extinguishing operation is likely to start in the next one hour," Pandey said. Despite the delayed start, the IAF successfully launched its firefighting efforts after conditions allowed. A post on X at 7:27 am by the Indian Air Force announced that its MI-17 V5 helicopters had begun Bambi Bucket operations in the Pauri Garhwal sector. "In response to the raging forest fires at Pauri Garhwal sector in Uttrakhand, IAF provided the much-needed relief by undertaking Bambi Bucket ops by its Mi17 V5 helicopters. Over 4500 litres of water was used to douse the fires in close coordination with the Uttarakhand government. The swift action by #IAF enabled the fire fighting crew on the ground to penetrate and douse fires in a more efficient manner," the tweet read. Due to the ongoing forest fires, Wing Commander Vivek Kumar noted that the helicopter's ability to take off from GVK helipad Srinagar was hampered by poor visibility. Another attempt to launch the firefighting operation was scheduled for around noon. "Another attempt will be made to take off around 12:00 pm," Kumar said. These aerial firefighting efforts by the IAF, in close coordination with the Uttarakhand government, are part of the ongoing battle against forest fires that have been raging in the region, disrupting normal life and posing significant environmental risks. Earlier, in the forest fire over the Pauri Garhwal region of Uttarakhand, a 65-year-old woman died in the field while trying to douse the fire on Monday. According to the officials, the Pauri Police in Uttarakhand have brought the fire in the forests under control. The Air Force took the lead in extinguishing the fire in different parts of Pauri district. The Air Force helicopters sprayed water on the fire in the Doob Srikot forests. Pauri police stated, "So far, there are 6 small active fire spots. A major fire was controlled after around 8 days and 12 hours. Two FIRs have been registered against 35 unidentified persons in connection with the fire incidents and a total of 8-9 people have been arrested." The police have assured that strict action will be taken against those who damage forest resources. The state's Chief Secretary, Radha Raturi, announced on Monday a series of measures aimed at controlling the spread of the flames and mitigating further damage. "Incidents of forest fire have increased," said Raturi, acknowledging the alarming rise in fire incidents across the state. Raturi revealed that the Indian Air Force (IAF) has been called in to aid firefighting efforts, and plans are underway to implement a pilot cloud seeding project to induce rainfall in the affected regions. She also mentioned that the government is planning a pilot project to implement this technology in Uttarakhand, starting with the Pauri district. Meanwhile, to prevent further incidents, the state government has banned the burning of agricultural residues and waste in urban areas. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/indegene-ipo-company-details-to-risk-factors-all-you-need-to-know/slidelist/109888922.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/indegene-ipo-company-details-to-risk-factors-all-you-need-to-know/slidelist/109888922.cms" target="_blank">Indegene IPO: Company details to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank">Worldwide tablet shipments grow in Q1 2024 after two years of decline</a><a href="https://www.businessinsider.in/tech/news/asus-zenbook-duo-review/articleshow/109875023.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/asus-zenbook-duo-review/articleshow/109875023.cms" target="_blank">Asus ZenBook Duo review – an excellent dual-screen laptop for multitaskers</a>

Uttarakhand forest fire: Poor visibility hampers IAF's firefighting efforts

<ul><li>The <keyword id="19932512" type="General" weightage="20" keywordseo="Indian-stock-market" source="keywords">Indian stock market</keyword> encountered selling pressure, leading to both indices slipping into the negative territory.</li><li>The <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> declined by 140 points to close at 22,302 while <keyword id="19950208" type="General" weightage="20" keywordseo="BSE-Sensex" source="keywords">BSE Sensex</keyword> also plummeted by 383 points to close at 73,511 points.</li><li><keyword id="19910150" type="General" weightage="20" keywordseo="Bank-Nifty" source="keywords">Bank Nifty</keyword> also declined for the second consecutive day by 609 points and closed at 48,285 points.</li></ul>After a positive start on Tuesday, the Indian stock market encountered selling pressure, leading to both indices slipping into the negative territory by the time the closing bell rang. The Nifty declined by 140 points to close at 22,302 while BSE Sensex also plummeted by 383 points to close at 73,511 points. The Nifty Midcap 100 saw substantial losses, ending the trading session down by 987.75 points at 49,674.45. "The Nifty lost 140 points over the day to close at 22,303. It started on a negative note in today’s session and remained weak throughout the entire trading session. On expected lines, the markets witnessed a sharp fall / sell off once Nifty breached an inside day or inside bar low of 22,409 in today’s opening trading session. It was clearly a day in favour of the bears. The Nifty index had formed an inside day or inside bar pattern on the daily chart in Monday’s trading session and the momentum on the downside got accelerated once Nifty breached an inside day low of 22,409 in today's trading session. The broader markets underperformed as compared to the mainline indices," said Tejas Shah, Technical Research, JM Financial &amp; BlinkX. "It was a weak day yet again for Indian bourses, marked with enhanced volatility and continued <keyword id="21360658" type="General" weightage="20" keywordseo="FII-selling" source="keywords">FII selling</keyword>. The net sales by FIIs in the secondary market in April has continued in May as well," said Ajay Bagga, market and banking expert. He added, "Markets are reducing exposure in the light of the June 4 results announcement for the national elections. Despite positive global cues, the lack of any strong domestic earnings upgrades means that markets could stay sideways till the 4th of June". Bank Nifty also declined for the second consecutive day by 609 points and closed at 48,285 points. "Bank Nifty is showing more profit booking as compared to Nifty. In the last trading session, it has closed below 48400, now we can expect a fall toward the 47700 level. 49300-49500 is an immediate resistance area; above this, we can expect a move towards the 50000 level," said Pravesh Gour, senior technical analyst, Swastika Investmart Ltd. In the Nifty 50 list 15 shares closed in advance while 35 shares closed with decline and Hindustan Unilever, Tech Mahindra, Britannia, Nestle India and TCS made into the list of top gainers while Bajaj auto, Power grid, ONGC, IndusInd Bank and Hindalco made into the list of top losers of the day. The Nifty has declined around 500 points while Sensex has tanked around 1500 points since Friday. In the currency market, dollar strengthened against the yen, while commodities like oil and gold remained relatively stable amidst geopolitical tensions in the Middle East. "In global markets, shares traded near one-month highs on Tuesday, buoyed by renewed confidence in potential U.S. interest rate cuts. Last week witnessed a significant shift in investor sentiment regarding the U.S. interest rate outlook, with market pricing indicating the likelihood of multiple rate cuts by the end of 2024," said Varun Aggarwal, MD, Profit Idea. Additionally, concerns over adverse weather conditions in key agricultural regions contributed to wheat, corn, and soybean prices trading at multi-month highs. In the morning the stock markets commenced trading on a positive note, as both the Sensex and Nifty indices saw gains, aligning with global market trends. Sensex opened 74.96 points up at 73970.50, while Nifty 50 opened 35.70 points higher at 22478.40. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/indegene-ipo-company-details-to-risk-factors-all-you-need-to-know/slidelist/109888922.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/indegene-ipo-company-details-to-risk-factors-all-you-need-to-know/slidelist/109888922.cms" target="_blank">Indegene IPO: Company details to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank">Worldwide tablet shipments grow in Q1 2024 after two years of decline</a><a href="https://www.businessinsider.in/tech/news/asus-zenbook-duo-review/articleshow/109875023.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/asus-zenbook-duo-review/articleshow/109875023.cms" target="_blank">Asus ZenBook Duo review – an excellent dual-screen laptop for multitaskers</a>

Sensex-Nifty ends in red amid enhanced volatility and continued FII selling

<ul><li>The <keyword id="19925636" type="General" weightage="20" keywordseo="stock-market" source="keywords">stock market</keyword> commenced on a positive note today, as both the Sensex and Nifty indices saw gains.</li><li>Sensex opened 74.96 points up at 73970.50, while Nifty 50 opened 35.70 points higher at 22478.40.</li><li>Hindustan Unilever, Britannia, BPCL, ITC, and Coal India led the gains, while Bajaj-Auto, Power Grid, Cipla, Divi's Lab, and JSW Steel were the top decliners.</li></ul>The stock market commenced trading on a positive note today, as both the Sensex and Nifty indices saw gains, aligning with global market trends. Sensex opened 74.96 points up at 73970.50, while Nifty 50 opened 35.70 points higher at 22478.40. Among the Nifty companies, 29 were advancing while 21 were declining. Hindustan Unilever, Britannia, BPCL, ITC, and Coal India led the gains, while Bajaj-Auto, Power Grid, Cipla, Divi's Lab, and JSW Steel were the top decliners. Market expert Ajay Bagga attributed the positive opening to the strong corporate earnings in the US and enhanced rate cut expectations following a subdued April Jobs Report. He noted that <keyword id="20155107" type="General" weightage="20" keywordseo="Asian-markets" source="keywords">Asian markets</keyword> also opened positively, setting the stage for a mildly positive start in India. However, Bagga highlighted the trend of afternoon <keyword id="21360658" type="General" weightage="20" keywordseo="FII-selling" source="keywords">FII selling</keyword>, which has been limiting significant upward movements in the Indian markets. Bagga said, "US markets finished the session at the days high on the back of continued strong corporate earnings and enhanced rate cut expectations following last weeks subdued April Jobs Report. Asian markets opened positive in a continuation trade. Indian futures are indicating a mildly positive start. However the last few days trend has been a mildly positive opening in India based on good global cues followed by FII selling in the afternoon." He added, "FII selling is sustaining for now and is not allowing Indian markets to cross significant levels on the upside. For now expect range bound price action , with stocks moving on their earnings announcements." Currently, Nifty is positioned around the support levels of 22,400 - 22,300, with a short-term negative trend. Analysts suggest the possibility of an upside bounce as long as the support at 22,300 holds, but a breach of this level could lead to further weakness in the short term. Analyzing the Nifty Open Interest (OI) Data, the highest OI on the call side was observed at 22,500 and 22,700 strike prices, while on the put side, the highest OI was at 22,500 strike price. Meanwhile, Asian stocks saw marginal gains, with Japan's Nikkei 225 surging up to 1.6% and Australian equities also showing positive movements. The yen depreciated after Japan's top currency official, Masato Kanda, suggested no immediate need for government intervention in the market. Optimism surrounding China's supportive policies and expectations for a continuation of economic policies in India under Prime Minister Narendra Modi's potential third term contributed to the positive sentiment in global equity markets. Varun Aggarwal, founder and managing director, Profit Idea, said, "Optimism surrounding China's supportive policies and expectations for a continuation of economic policies in India under Prime Minister Narendra Modi's potential third term are contributing to the positive sentiment in global equity markets. Oil prices rose, while US stock futures remained steady amidst developments in the Israel-Gaza conflict." Oil prices rose, while US stock futures remained steady amidst developments in the Israel-Gaza conflict. In the US, investors analyzed remarks from various Fed officials regarding interest rate trajectories, while Australia's central bank is expected to maintain its key interest rate with a reinstated hawkish bias. Overall, the backdrop for stocks remains favorable, driven by healthy profit growth, potential Fed rate cuts, and increased investment in artificial intelligence. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/indegene-ipo-company-details-to-risk-factors-all-you-need-to-know/slidelist/109888922.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/indegene-ipo-company-details-to-risk-factors-all-you-need-to-know/slidelist/109888922.cms" target="_blank">Indegene IPO: Company details to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank">Worldwide tablet shipments grow in Q1 2024 after two years of decline</a><a href="https://www.businessinsider.in/tech/news/asus-zenbook-duo-review/articleshow/109875023.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/asus-zenbook-duo-review/articleshow/109875023.cms" target="_blank">Asus ZenBook Duo review – an excellent dual-screen laptop for multitaskers</a>

Sensex-Nifty rally at opening bell, riding high on global market surge

India's exports have increased to as many as 115 countries out of the total 238 destinations during 2023-24 despite the <keyword id="21432125" type="General" weightage="20" keywordseo="global-economic-uncertainties" source="keywords">global economic uncertainties</keyword>, according to commerce ministry's data. These 115 export destinations, which account for 46.5 per cent of India's export basket, include the US, UAE, Netherland, China, UK, Saudi Arabia, Singapore, Bangladesh, Germany and Italy. The country's <keyword id="20631272" type="General" weightage="20" keywordseo="merchandise-exports" source="keywords">merchandise exports</keyword> dipped by 3 per cent to USD 437.1 billion in the last fiscal. However, <keyword id="20061029" type="General" weightage="20" keywordseo="services-exports" source="keywords">services exports</keyword> rose to USD 341.1 billion in 2023-24 as against USD 325.3 billion in 2022-23. The data showed that despite persistent global challenges, overall exports (goods and services together) hit the highest level in 2022-23. Overall exports reached USD 778.2 billion in 2023-24 as compared to USD 776.4 billion in 2022-23, registering a marginal growth of 0.23 per cent. The share of India's merchandise exports has also increased marginally from 1.70 per cent in 2014 to 1.82 per cent in 2023. India's rank in world merchandise exporters too has improved from 19th to 17th during the same period. Further, India's export to its top 10 destinations witnessed a 13 per cent year-on-year increase in 2023-24. The UAE has emerged as the primary destination, with a substantial 12.71 per cent growth in export value at USD 35.6 billion. Similarly, exports to Singapore that surged by 20.19 per cent to USD 14.4 billion, to the UK (up 13.30 per cent to USD 13 billion), and to China (up 8.70 per cent to USD 16.7 billion) also recorded healthy growth indicating a sustained demand for Indian products. The data showed that the exponential growth rates observed in countries like Russia (35.41 per cent), Romania (138.84 per cent), and Albania (234.97 per cent) underscore the exploration of new markets. "Strengthening trade relations with these nations could unlock untapped opportunities and bolster India's overall export competitiveness," an official said. The country's outbound shipments to regions including CIS (commonwealth of independent states, Oceania and Europe too witnessed expansion during 2023-24 over 2022-23. The top five export destinations driving export growth in CIS region during 2023-24 are Russia, Uzbekistan, Ukraine, Armenia and Tajikistan. Similarly, the top five destinations driving India's export growth in Oceania region in the last fiscal are Australia, Timor Leste, Samoa, Vanuatu and Solomon Island. And in Europe, the major countries where Indian exporters recorded healthy growth in their shipments during 2023-24 are the UK, Romania, Albania, Netherland and Greece. On the commodities front, as many as 17 items have registered an increase in exports in 2023-24 over the last financial. These sectors constitute 48.4 per cent of India's export basket. These sectors include engineering, electronic goods, pharmaceuticals, and cotton yarn/fabrics/handloom products. However, there were notable decline in key sectors in the last fiscal such as petroleum products (- 13.66 per cent) and gems and jewellery (-13.83 per cent). According to the data, of the 229 source nations, India's imports have declined from 124 countries in 2023-24. The top 10 source countries, which constitute 59.3 per cent of India's import basket, include China, USA, Saudi Arabia, Indonesia, Russia, and Switzerland. Decline in imports are reported from countries like the UAE, Qatar, Kuwait and Oman and it highlights the need for India to bolster its trade relations, especially with GCC (Gulf Cooperation Council) member countries, the official said. "While some declines may stem from market dynamics or economic conditions, they also present opportunities for policy makers to reconsider trade strategies, prioritize domestic production, and foster indigenous industries," the official added. Meanwhile, <keyword id="21264925" type="General" weightage="20" keywordseo="India-Exim-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="India Exim Bank" meta.hostid="83" meta.entityid="India Exim Bank">India Exim Bank</keyword> on Thursday projected that India's merchandise exports would rise by 12.3 per cent to USD 116.7 billion during April-June this fiscal. "Positive growth in India's exports could be as a result of India's strong GDP growth fundamentals and outlook, sustained momentum in manufacturing and services sector, backed by expected global easing of monetary tightening spurring global demand, and to some extent due to base effect," it said in a statement. The outlook is, however, subject to risks of uncertain prospects for advanced economies, geopolitical shocks, the Middle East crisis leading to the intensification of the Red Sea crisis and deepening geo-economic fragmentation, among other factors, it added. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/apple-and-samsung-dominate-the-top-selling-smartphones-in-q1-2024/slidelist/109977094.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-and-samsung-dominate-the-top-selling-smartphones-in-q1-2024/slidelist/109977094.cms" target="_blank">Apple and Samsung dominate the top-selling smartphones in Q1 2024</a><a href="https://www.businessinsider.in/tech/mobile/news/carl-pei-led-nothings-sub-brand-cmf-may-soon-enter-the-budget-phone-segment-in-india/articleshow/109968970.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/carl-pei-led-nothings-sub-brand-cmf-may-soon-enter-the-budget-phone-segment-in-india/articleshow/109968970.cms" target="_blank">Carl Pei-led Nothing’s sub-brand CMF may soon enter the budget phone segment in India</a><a href="https://www.businessinsider.in/stock-market/news/indegene-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109952516.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/indegene-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109952516.cms" target="_blank">Indegene IPO allotment – How to check allotment, GMP, listing date and more</a>

India's exports rise in 115 nations out of 238 destinations in 2023-24: Govt data

The launch of Boeing's Starliner spacecraft, scheduled to carry <keyword id="19939779" type="General" weightage="20" keywordseo="NASA-astronauts" source="keywords">NASA astronauts</keyword> <keyword id="21544825" type="General" weightage="20" keywordseo="Sunita-Williams" source="keywords">Sunita Williams</keyword> and Barry Wilmore to the International Space Station (ISS) was on Monday (local time) postponed after a valve glitch in the upper stage of the rocket set to propel it to space. Rocket company United Launch Alliance's Tom Heter III the director overseeing the launch announced the decision to delay the launch about two hours before the expected lift off from the Cape Canaveral Space Force Station in Florida, United States. NASA announced on social media platform X that the problem was identified with an oxygen valve on part of ULA's Atlas 5 rocket and that the space agency, Boeing and ULA have "scrubbed the launch opportunity on May 6 for the agency's Boeing Crew Flight Test to the International Space Station due to a faulty oxygen relief valve observation on the Atlas V rocket Centaur second stage. The crew and rocket remain safe and more information will be forthcoming." It said that NASA astronauts Wilmore and Williams exited the Starliner spacecraft at Space Launch Complex-41 at Cape Canaveral Space Force Station in Florida and will return to astronaut crew quarters. This would have marked the first human crewed flight for Starliner with Indian origin Sunita "Suni" Williams piloting the craft with fellow NASA pilot Barry "Butch" Wilmore. Boing had designed Starliner to rival the Dragon capsule of Elon Musk's SpaceX which carried out its crewed flight test in May 2020. SpaceX has handled most of NASA's crew transportation needs since then. However, just two hours before the scheduled launch, a valve glitch in the rocket's upper stage forced mission managers to call off the mission. It was a frustrating setback for Wilmore and Williams, both seasoned astronauts ventured to space on two previous journeys aboard NASA space shuttle and Russian Soyuz missions and had impressive backgrounds in naval aviation. The disappointment was tangible as they unstrapped from their seats, their hopes of soaring into space momentarily grounded, CBS News reported. Incidentally Sunita Williams has named the spacecraft "Calypso" for her love of the ocean and in reference to the ship of famed explorer <keyword id="21556039" type="General" weightage="20" keywordseo="jacques-cousteau" source="keywords">Jacques Cousteau</keyword>, who sailed across the world on his own ship named bearing the same name. Despite the setback, the seasoned duo maintained their composure, knowing that space travel demands patience and resilience. Clad in their distinctive Boeing pressure suits, Wilmore and Williams awaited news of the next launch window, ready to embark on their celestial journey at the earliest opportunity, as reported by CBS News. The Atlas 5 rocket, renowned for its reliability, stood ready for its milestone 100th flight - to launch Boeing's Crew Space Transportation (CST)-100 Starliner spacecraft. The plan was that following separation from Atlas 5, Starliner engines will burn taking it the rest of the way to orbit and on to the International Space Station, according to ULA. The Atlas 5 had successfully launching scientific spacecraft to Mars on five different occasions, plus research investigations to the Sun, the Moon, Jupiter, the Asteroid Bennu and Pluto The Atlas 5 consists of two major components: a booster and Centaur, its so-called upper stage. Starliner sits on top of Centaur, which in turn rests on the booster. The booster powers everything off the launchpad. During the flight, Centaur is designed to separate from the booster, propelling Starliner into a proper orbit. Then, Starliner separates from Centaur and flies on its own. It has delivered US national security assets into space, launched weather observatories that all Americans depend upon and deployed commercial satellites to connect the world. Williams, selected as an astronaut by NASA in June 1998, has spent a total of 322 days in space on two missions and accumulated 50 hours and 40 minutes of cumulative EVA time on seven spacewalks. Williams worked with Roscosmos on its contribution to the space station and with the first Expedition crew. Meanwhile, 61-year-old, Wilmore has logged 178 days in space and has 25 hours and 36 minutes of time on four spacewalks. NASA has been waiting half a decade for Starliner to begin flying crew, and the development of Starliner was beset by years of delays, setbacks and blunders. More broadly, Boeing as a company has suffered years of scandals in its aircraft division that have tarnished the legacy aerospace giant's brand, CNN reported. If successful, the Crew Test Flight could queue up Boeing to begin flying routine trips to the space station on NASA's behalf. Boeing has already planned six manned missions for the platform over the next six years, the projected end of the ISS' operating lifespan. NASA plans to use both SpaceX's Dragon and Boeing's Starliner to send up astronauts at least every six months from US soil. Both Boeing and SpaceX were given the responsibility in 2014 by NASA to send commercial crew missions to the ISS. Boeing received over USD 4 billion in US federal funds to develop the Starliner, while SpaceX received about USD 2.6 billion. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/indegene-ipo-company-details-to-risk-factors-all-you-need-to-know/slidelist/109888922.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/indegene-ipo-company-details-to-risk-factors-all-you-need-to-know/slidelist/109888922.cms" target="_blank">Indegene IPO: Company details to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank">Worldwide tablet shipments grow in Q1 2024 after two years of decline</a><a href="https://www.businessinsider.in/tech/news/asus-zenbook-duo-review/articleshow/109875023.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/asus-zenbook-duo-review/articleshow/109875023.cms" target="_blank">Asus ZenBook Duo review – an excellent dual-screen laptop for multitaskers</a>

Planned crewed launch of Indian-origin astronaut Sunita Williams on Boeing's Starliner spacecraft called off

New Delhi, <keyword id="10591" type="CITY" weightage="20" keywordseo="Samsung">Samsung</keyword> is all set to launch its next <keyword id="28168" type="TECHNOLOGY" weightage="20" keywordseo="Smartphone">smartphone</keyword> in the 'F' series under ₹25,000 this month which will house the <keyword id="10697238" type="UNKNOWN" weightage="20" keywordseo="flagship-Exynos-processor">flagship Exynos processor</keyword> and a huge 7000mAh battery, industry sources said on Wednesday. The South Korean electronics major will unveil Galaxy F62 which is its first mid-segment smartphone with a flagship-grade processor in mid-February, sources told. The biggest USP of Galaxy F62 will be its flagship Exynos processor, which will make the device the fastest smartphone in the segment. Earlier reports have mentioned that Galaxy F62 will house Exynos 9825 SoC that comes alongside 6GB RAM. The smartphone will run Android 11 straight out of the box and we expect One UI 3.0 to be running atop. "Samsung and Flipkart are likely to launch a #FullOnSpeedy campaign to highlight the F62's performance edge ahead of the smartphone launch," according to the sources. With the launch of Galaxy F62, Samsung will strengthen its play in the mid-segment, which is currently dominated by Samsung's own Galaxy M51 and One Plus Nord in the online channel. Galaxy F62 is likely to come with segment-best features such as quad camera at the rear. It will be Samsung's second smartphone in the popular F Series. Samsung introduced 'Galaxy F41' as the first model in the company's Galaxy F series in the festive quarter of 2020, hoping to further make inroads into the competitive mid-price smartphone segment. The phone came with a water drop-style display notch, featured triple rear cameras and a massive 6000mAh battery. SEE ALSO: <a href="https://www.businessinsider.in/business/news/carlyle-brighton-park-invest-200-million-in-indian-healthtech-company-indegene/articleshow/80661573.cms">Carlyle, Brighton Park invest $200 million in Indian healthtech company Indegene</a> <a href="https://www.businessinsider.in/stock-market/news/home-first-finance-company-ipo-lists-at-618-19-premium-over-the-issue-price/articleshow/80662539.cms">Warburg Pincus-backed Home First Finance Company IPO lists at 19% premium over the issue price</a>

Samsung to launch Galaxy F62 with latest chip under ₹25,ooo in February

San Francisco, After <keyword id="6354427" type="ORGANIZATION" weightage="20" keywordseo="apple">Apple</keyword>, <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> became the second US tech company to log its largest quarter by revenue of all time at $125.56 billion, as online shopping broke all records in the holiday quarter (October-December period) amid the <keyword id="8902449" type="UNKNOWN" weightage="20" keywordseo="covid-19-pandemic">Covid-19 pandemic</keyword>. The company doubled its net income to $7.2 billion for the quarter, compared to $3.3 billion for the same period in 2019. Amazon's full-year 2020 net sales were up 38 per cent, to $386.1 billion. The Amazon stock were up 1 per cent in extended trading on Tuesday. Amazon also announced that Jeff Bezos will transition to the role of Executive Chair in the third quarter of 2021 and Andy Jassy, CEO of AWS, will become Chief Executive Officer at that time. "Amazon is what it is because of invention. We do crazy things together and then make them normal. We pioneered customer reviews, 1-Click, personalized recommendations, Prime's insanely-fast shipping, Just Walk Out shopping, the Climate Pledge, Kindle, Alexa, marketplace, infrastructure cloud computing, Career Choice, and much more," said Bezos who founded Amazon in 1994. "When you look at our financial results, what you're actually seeing are the long-run cumulative results of invention. Right now I see Amazon at its most inventive ever, making it an optimal time for this transition," he added. During a call with investors, Amazon CFO Brian Olsavsky said the company has a "highly effective" succession plan in place. Amazon's cloud-computing arm AWS saw its revenue jump 28 per cent to $12.7 billion from $9.95 billion a year earlier. Earlier, riding on the stellar performance of iPhones, wearables and services in the festive December quarter, Apple posted an all-time record revenue of $111.4 billion in its history, up 21 per cent year over year, and quarterly earnings up 35 per cent. SEE ALSO: <a href="https://www.businessinsider.in/business/news/carlyle-brighton-park-invest-200-million-in-indian-healthtech-company-indegene/articleshow/80661573.cms">Carlyle, Brighton Park invest $200 million in Indian healthtech company Indegene</a> <a href="https://www.businessinsider.in/business/news/mukesh-ambani-ratan-tata-and-anand-mahindra-might-come-together-for-indias-new-national-hydrogen-mission/articleshow/80645570.cms">Mukesh Ambani, Ratan Tata, and Anand Mahindra might come together for India’s new National Hydrogen Mission</a> <a href="https://www.businessinsider.in/stock-market/news/indigo-paints-shares-listed-at-2607-which-is-at-75-premium-to-the-set-price-band-at-1488-1490-per-share/articleshow/80643645.cms">India’s fifth-largest paint maker Indigo Paints IPO lists at 75% premium over the issue price</a>

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