Stock markets bounce back in early trade amid rally in global peers, buying in blue-chips
Mumbai (PTI): Benchmark indices Sensex and Nifty rebounded in early trade on Thursday, tracking a rally in global markets and buying in blue-chip stocks.
The 30-share BSE Sensex climbed 376.89 points to 83,836.04 in early trade. The 50-share NSE Nifty went up by 81.5 points to 25,679.15.
From the Sensex firms, Asian Paints jumped over 4.50 per cent.
Mahindra & Mahindra, Reliance Industries, State Bank of India, Adani Ports, Trent and Larsen & Toubro were also among the gainers.
However, Power Grid, Eternal, Bajaj Finance and HDFC Bank were among the laggards.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng index traded in the positive territory.
US markets ended higher on Wednesday.
Meanwhile, Commerce and Industry Minister Piyush Goyal on Wednesday said India and the US are holding continuous discussions for the proposed bilateral trade agreement.
Stock markets were closed on Wednesday for Guru Nanak Jayanti.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,067.01 crore on Tuesday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 1,202.90 crore, according to exchange data.
On Tuesday, the Sensex dropped 519.34 points or 0.62 per cent to settle at 83,459.15. The Nifty declined 165.70 points or 0.64 per cent to 25,597.65.
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K'taka remains central to Aequs' strategy, says min Patil amid row over firm's investment in TN
Bengaluru (PTI): Karnataka Commerce and Industries Minister M B Patil on Monday asserted that Aequs continues to expand in the state and that its proposed investment in neighbouring Tamil Nadu was a business decision aimed at diversification, not a shift away from Karnataka.
Reacting to criticism on social media over reports that the Karnataka-based firm had signed a major investment deal in Tamil Nadu's Krishnagiri district for setting up a specialised aerospace and defense manufacturing cluster, he said the state government was fully aware of the company's plans and remained confident about its long-term commitment to Karnataka.
"While we welcome every major investment in India, would like to clarify a few points," Patil said in a post on 'X'.
Aequs was significantly expanding its footprint within Karnataka, including a Rs 3,000 crore investment in Kolar for electronics manufacturing.
"Its recently approved Rs 1,500 crore ECMS project will also be grounded in the state. Karnataka remains central to its long-term strategy," he said.
Patil added that the government had prior knowledge of the TN proposal.
The government was already informed and aware that the TN investment is a business decision aimed at geographic diversification and de-risking operations, not a shift away from Karnataka.
"Healthy competition between states strengthens India's manufacturing ecosystem," he said.
Emphasising the state's focus on high-technology sectors, Patil said, "We remain committed to deepening Karnataka's leadership in aerospace and advanced manufacturing, and our engagement with industry partners is strong and ongoing."
The Aequs Group has pledged Rs 4,000 crore to bolster Tamil Nadu's aerospace manufacturing capabilities at the SIPCOT-Shoolagiri Industrial Park in Krishnagiri district.
The group proposes to establish a specialised aerospace and defense manufacturing cluster for the production of aircraft engines, gearbox components, and precision engineering parts. This initiative is expected to provide employment to 7,000 individuals.
