Top 5 stocks of the day: The top gainers on the Nifty 50 were IndusInd Bank, Tata Motors, Bajaj Finance, Bajaj Finserv and ONGC while the losers were Coal India, Adani Enterprises, Sun Pharma, Dr Reddy and Britannia. The session on Monday was mainly positive for domestic indices. The BSE Sensex 709.96 up 1.16% to 61,764.25, while the NSE Nifty 50 increased 202.8 points or 1.12% to 18,271.8. In terms of sectoral indexes, Bank Nifty increased by 622.8 points (1.46%), Nifty Financial Services increased by 280.1 points (1.47%), and Nifty PSU Bank decreased by 38.5 points (0.93%), reaching 4,115.1.
These realty stocks lead gainers from the sector
| Sunteck Realty | 317.40 | 10.10(3.29) |
| SOBHA | 480.45 | 14.85(3.19) |
| Oberoi Realty | 951.00 | 27.65(2.99) |
| DLF | 439.70 | 12.50(2.93) |
| Godrej Properties | 1357.55 | 33.35(2.52) |
| Indiabulls Real Estate | 69.90 | 1.60(2.34) |
| Prestige Estates Projects | 500.90 | 11.25(2.30) |
| Shriram Properties | 66.50 | 1.25(1.92) |
| Omaxe | 54.25 | 0.95(1.78) |
| Phoenix Mills | 1458.85 | 12.15(0.84) |
Top 5 stocks of the day: Bank of India shares tank nearly 6%
Despite the bank reporting a standalone profit of Rs 1,350.4 crore for the March FY23 quarter, up 123% over the same quarter last year despite higher provisions, Bank of India shares dropped nearly 6% to Rs 81.26. In Q4FY23, net interest income increased by 38.6% year over year to Rs 5,523.84 crore, with worldwide advances up 13% and deposits up 6.6%.
Windfall gain for Centre as RBI expected to earn substantial profits from foreign-currency trading
It is anticipated that the Reserve Bank of India (RBI) will make substantial gains from trading foreign currencies and lending to regional banks, culminating in a windfall gain for the Centre. The government will receive annual dividend revenues from the RBI as a result, which will reflect this. According to the Budget, public sector banks and the RBI will contribute 48,000 crore rupees in revenue during FY23.
Gaura Sengupta, an economist for IDFC First Bank in India, predicts that the RBI’s dividend will likely exceed Budget projections because of strong dollar sales and reduced provisioning needs.
Top 5 stocks of the day: Ban diesel-powered four-wheeler vehicles by 2027
By 2027, diesel-powered four-wheelers might be outlawed. In order to reduce emissions, a group appointed by the oil ministry has advised the Indian government to outlaw the use of four-wheeled diesel vehicles by the year 2027 and replace them with petrol and electric vehicles in densely populated cities and polluted towns.
The group stated in a study that “by 2030, no city buses should be added that are not electric…diesel buses for city transport should not be added from 2024 onwards.”
Disclaimer: (This piece of information is purely informational. It is important to note that offers, discounts, and/ or any other scheme/ information/ statistics must be personally verified by the readers from the respective sources. Readers are advised to invest or purchase solely at their own risk. DNP News Network Private Limited, website or the writer doesn’t validate the offers in any context. We will not be liable for any financial or other losses.)
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER.