Top Gainers and Losers on July 03: Nykaa, PNB, Rites, DMart, Sagility India among top losers today
Although both indices opened higher and sustained those gains during the first half of the session, they later witnessed profit booking. The initial uptick in the markets came after reports indicated that India and the US could strike a mini trade deal within the next 48 hours. However, this optimism later subsided, causing the frontline indices to slip into the red.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
NDTV
24 minutes ago
- NDTV
Explained: How Farm Goods Are Holding Up US-India Trade Deal
US and India trade negotiators were pushing on Wednesday to finalise a tariff-reducing deal ahead of President Donald Trump's July 9 negotiating deadline, but disagreements over US dairy and agriculture remained unresolved. Why are farm goods imports sensitive in India? Agriculture and its allied areas contribute just 16% to India's $3.9 trillion economy, but sustain nearly half of the country's 1.4 billion population. As farmers remain the most powerful voting bloc, Prime Minister Narendra Modi's government was forced into a rare retreat four years ago when it tried to push through controversial farm laws. The prospect of cheaper imports from the United States threatens to drive down local prices, handing the opposition a fresh opportunity to attack the government. New Delhi has traditionally kept agriculture out of Free Trade Agreements with other nations. Granting market access to the US could force India to extend similar concessions to other trading partners. How do Indian and US farms compare? The average Indian farm comprises just 1.08 hectares, compared to 187 hectares in the United States. In dairy, the average herd size in India is two to three animals per farmer, compared to hundreds in the United States. This difference makes it difficult for small Indian farmers to compete with their US counterparts. Farming in India remains largely unmechanised because small, fragmented land holdings leave little room for large machinery. In many regions, farmers rely on techniques passed down through generations, a sharp contrast to US farms, where cutting-edge equipment and AI-driven technologies have raised productivity. Which products is US lobbying for? Why is India resisting? The United States is pressing India to open its markets to a wide range of American products, including dairy, poultry, corn, soybeans, rice, wheat, ethanol, citrus fruits, almonds, pecans, apples, grapes, canned peaches, chocolates, cookies, and frozen French fries. While India is willing to grant greater access to US dry fruits and apples, it is holding back on allowing imports of corn, soybeans, wheat, and dairy products. India does not allow genetically modified (GM) food crops, while most US corn and soybean production is GM-based. Dairy remains a sensitive issue in India, where cultural and dietary preferences strongly influence food choices. Indian consumers are particularly concerned that cattle in the US are often fed with animal by-products, a practice that conflicts with Indian food habits. Why does India oppose US ethanol for bleeding with gasoline? A key aim of India's Ethanol Blended Petrol (EBP) program is to cut dependence on energy imports by blending domestically-produced ethanol with gasoline. Significant investments by domestic companies mean that India is now close to achieving its ambitious target of blending 20% ethanol. Importing ethanol would undermine those companies. The EBP also helps manage surpluses of rice, sugarcane, and corn by diverting them to ethanol production. Allowing imports of US ethanol would be a serious setback for India's emerging distillery sector.
&w=3840&q=100)
Business Standard
30 minutes ago
- Business Standard
Amitabh Kant appointed to IndiGo's board as non-executive director
InterGlobe Aviation, the parent company of IndiGo airline, has appointed former bureaucrat Amitabh Kant as a Non-Executive Director on its Board, the airline said in a statement on Thursday. Kant, a retired Indian Administrative Service (IAS) officer of the 1980 Kerala cadre, has held several senior positions in the Indian government. Most recently, he served as India's G20 Sherpa during the country's presidency. He played a key role in drafting the New Delhi Leaders' Declaration in September 2023. Over a four-decade-long career, Kant also served as CEO of NITI Aayog for six years, where he led programs such as the Aspirational Districts Programme and initiatives on mobility and sustainability. He has previously held board positions at the National Highways Authority of India and was a member of the National Statistical Commission. IndiGo said it expects to leverage Kant's experience in public policy, infrastructure development, and international engagement as it expands its global network. The airline is targeting international growth as part of its 2030 strategy. IndiGo is India's largest airline with more than 60 per cent share in the domestic passenger market. Kant said, 'In under two decades, IndiGo has transformed air travel in India. With its scale, efficiency, and international ambition, IndiGo will open up new markets for India and transform airports into global hubs of connectivity and commerce.' Vikram Singh Mehta, Chairman of the Board of Directors at IndiGo, said, 'Mr. Kant's administrative experience and leadership in delivering projects of global scale will benefit IndiGo, especially in its international expansion efforts.'
&w=3840&q=100)
Business Standard
30 minutes ago
- Business Standard
Gamezop expands to Bahrain, targets $6 million additional revenue
Digital gaming firm Gamezop is expanding into Bahrain, setting up a wholly-owned subsidiary in the country with plans to onboard around 1,000 new apps in the Middle Eastern region. The Indian parent plans to invest $4 million to ramp up operations, hire local talent, and explore inorganic growth opportunities, including acquisitions. This international push is expected to generate around $6 million in additional revenue over the next 18 months. The company said Bahrain would be its headquarters for the Middle Eastern market. 'We anticipate Bahrain will continue to attract leading global companies to establish their regional hubs here, thanks to its forward-looking policies and the proactive support of the Bahrain Economic Development Board (EDB), which has been instrumental in supporting our expansion,' said Gaurav Agarwal, co-founder, Gamezop. The company also operates verticals such as quizzing, astrology, and cricket. 'Bahrain's gaming and content creation ecosystem is building strong momentum, powered by robust digital infrastructure, supportive government initiatives, and a growing pool of ambitious, creative talent," said Musab Abdulla, Executive Director of ICT, Bahrain EDB. He added that the arrival of companies like Gamezop would create new opportunities for local developers and reinforce Bahrain's position as a hub for creative industries in the region. Gamezop was founded in 2016 by Yashash Agarwal and Gaurav Agarwal.
