Watch | Domestic air traffic projected to grow; BHEL shares zoom on Adani order; Stock markets extend rally

The demand for non-ferrous metals, including copper and aluminium, is likely to remain healthy at around 10 per cent in the current fiscal year, ratings agency Icra stated on Thursday.

Moreover, the moderation in price of coal is likely to ease input cost pressures to an extent.

The rating agency said it foresees firm metal prices and benign input costs to increase the profitability of the domestic non-ferrous metal entities in FY25.

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The Securities and Exchange Board of India has introduced a new framework for Foreign Portfolio Investors to address the issue of securities held in demat accounts after the expiry of their registration.

FPIs are required to have a valid registration as long as they hold securities in India, which is incumbent on payment of registration fee for every block of three years. Non payment leads to their registration expiring.

FPI registrations that expire, would now be permitted to be reactivated within 30 days from such expiry, during which the FPI can dispose of their holdings.

FPIs will be given 180 days for securities disposal if they choose not to reactivate their registration.

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Shares of BHEL on Thursday zoomed over 14.50 per cent after the company said it has secured an order worth over Rs 3,500 crore from Adani Power Limited to set up a thermal power project in Raipur, Chhattisgarh.

Shares of Adani Power also rallied nearly 8 per cent on the BSE, following the announcement.

Domestic air traffic likely to touch 164 mn in FY25

India’s domestic air traffic is expected to rise 6 to 8 per cent to 161 to 164 million in the current financial year, according to a report.

Aviation advisory firm CAPA India in a report on Wednesday said international air traffic is projected to jump 9 to 11 per cent, reaching 75 to 78 million by March 2025.

However, domestic carriers are likely to face consolidated losses of approximately half a billion US dollars, primarily because of capacity shortages due to grounded aircraft. The losses are estimated at 1.3 to 1.5 billion dollars, excluding IndiGo, which is profitable.

Benchmark equity indices Sensex and Nifty ended nearly 1 per cent higher on Thursday, continuing their rally for the second straight day as Prime Minister Narendra Modi is poised to form the government for the third consecutive term.

The 30-share BSE Sensex jumped 692 points to settle at 75,074 while NSE Nifty climbed 201 points to close at 22,821.

On the sectoral front Capital goods, IT, Oil & Gas and PSU stocks emerged as the front runners,; while FMCG, Pharma, and Healthcare stocks struggled to gain traction.