Earlier, Indian stocks opened higher on Monday morning, backed by strong US markets which showed a robust performance on Friday.
Share of GRM Overseas surged around 10 per cent to touch the day’s high of Rs 157.35 on the BSE. The surge comes after the company informed exchanges that it has received an order from the Ministry of Agricultural, Fisheries Wealth & Water Resources, Sultanate of Oman. According to an exchange filing, this is the maiden government order secured by the company. The order is worth Rs 465 million.
“GRM) has received its first order from the Ministry of Agricultural, Fisheries Wealth & Water Resources, Sultanate of Oman, to supply 4,500 MT of Premium basmati rice The order is worth Indian Rupees 465 million,” the company said in an exchange filing.
Earlier, Indian stocks opened higher on Monday morning, backed by strong US markets which showed a robust performance on Friday. Also, improved investor sentiment with the relative easing in tensions in the Middle East and declining oil prices supported the Indian stocks.
Snapping a four-day winning streak, Indian stock indices closed sharply lower last week, primarily due to risk aversion by investors amid weak global cues. At 9.47 am, Sensex was at 74,026.23 points, up 296.07 points or 0.40 per cent, while Nifty was at 22,473.65 points, up 53.70 points or 0.24 per cent. Among the sectoral indices, Nifty bank, Nifty financial services, and Nifty media were among the top movers.
This week will be dominated by the corporate earnings releases and the highly anticipated Federal Open Market Committee (FOMC) meeting scheduled for April 30 to May 1. The experts highlighted that overall Asian markets are poised to carry forward the bullish sentiment as April draws to a close, despite looming challenges anticipated for May.