RBI Governor Sanjay Malhotra promoted India as a prime long-term investment destination, citing its robust growth and stability amidst global economic challenges. India's average annual growth rate of 8.2% over the past four years makes it the fastest-growing major economy. Strong domestic demand, policy continuity, and significant foreign exchange reserves further enhance India's attractiveness to investors.
Reliance posted a 2% YoY profit increase to Rs 19,407 crore, beating expectations. Revenue surged 10% to Rs 2.64 lakh crore, driven by telecom and retail. Analysts suggest a range-bound strategy with a potential upside towards Rs 1,410-1,460, and a buy recommendation at current levels.
Indian stock market closed lower due to geopolitical concerns, with mid- and small-cap stocks hit hardest. Analysts suggest a cautious approach, citing risk-off sentiment amid escalating Indo-Pak tensions. The Nifty fell below its 200-DMA, signaling a potential bearish trend. US and European markets showed mixed but optimistic movements.
