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The Aam Aadmi Party's Rajya Sabha MP Sanjay Singh was released from Tihar jail on Wednesday after the procession of his bail order was completed. This is a time for struggle and our jailed leaders will also come out soon, said the Rajya Sabha MP after walking out of jail."This is the time to struggle. The biggest leaders of our party (AAP) - Arvind Kejriwal, Manish Sisodia and Satyendar Jain - have been kept behind the bars. I am confident that one day the locks of this prison will be broken and they will come out. This is why I want to say that this is not the time to celebrate, this is the time to struggle."The Supreme Court on Tuesday granted him bail in a money laundering case related to the Delhi excise policy scam after the Enforcement Directorate said it had no objections.Counsel for Sanjay Singh stated that the appellant Sanjay Singh will not make any comment about his role in the present case.— ANI (@ANI) A three-bench led by Justice Sanjiv Khanna directed to release of Sanjay Singh on bail during the pendency of proceedings in a money laundering case relating to excise policy irregularities.Beside Justice Khanna, other judges on the bench were Justices Dipankar Datta and Prasanna Bhalachandra Varale.Additional Solicitor General SV Raju appearing for the respondent Directorate of Enforcement stated that the probe agency has no objection in case the appellant -Sanjay Singh is released on bail during the pendency of the proceedings.The ED response came after the court sought to know from the investigating agency whether it needed further custody of AAP leader Sanjay Singh in the excise policy case."Given the statement made, we allow the present appeal and direct that the appellant - Sanjay Singh will be released on bail during the pendency of the aforesaid proceedings, on terms and conditions to be fixed by the trial Court," the top court said."We clarify that the concession given in the Court today would not be treated as a precedent. We also clarify that we have not made any comments on the merits of the case," the top court added.The court observed that Sanjay Singh had spent six months in jail.The top court was hearing AAP leader Sanjay Singh's plea against the Delhi High Court order refusing to grant him bail in the excise policy irregularities case.Aam Aadmi Party leader Sanjay Singh has approached the Supreme Court against the Delhi High Court order refusing to grant him bail in connection with an excise policy irregularities case.In his bail plea, Sanjay Singh has challenged the Delhi High Court order dated February 7, 2024. Sanjay Singh moved to the High Court when, on December 22, 2023, the trial court dismissed his bail.Sanjay Singh was arrested by the Enforcement Directorate on October 4, 2023, in the case.According to ED, Sanjay Singh was alleged to be involved in creating a special purpose vehicle to launder the proceeds of crime that would have been generated from the business arising out of the policy changes as conspired by him and his co-conspirators.ED also stated that Sanjay Singh has had certain confidential documents about the investigation of this case that are not in the public domain.Sanjay Singh in the Delhi High Court denied charges

MUMBAI - The National Stock Exchange (NSE) of India will launch four new indices in the cash and futures and options segments with effect from April 8. The exchange has proposed online dissemination of indices namely, Nifty Tata Group 25% Cap, Nifty500 Multicap India Manufacturing 50:30:20, Nifty500 Multicap Infrastructure 50:30:20, and Nifty MidSmall Healthcare, according to a circular issued by NSE earlier today. These indices will be available on the trading system in both capital markets and the derivatives segments. The Nifty Tata Group 25% Cap index consists of 10 companies, and is based on the free float market capitalisation method, NSE said. <iframe title="Nifty Tata Group 25% Cap Index Constituents " aria-label="Table" id="datawrapper-chart-ERaa4" src="https://et-infographics.indiatimes.com/graphs/ERaa4/1/" scrolling="no" frameborder="0" style="width: 0; min-width: 100% !important; border: none;" height="404" data-external="1"></iframe><script type="text/javascript">!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data["datawrapper-height"][t]+"px";e[r].style.height=i}}}))}();</script>The Nifty500 Multicap India Manufacturing 50:30:20 Index will track the performance of select largecap, midcap, and smallcap stocks from the Nifty 500 index that represent the manufacturing theme. The index will have 75 constituents and the weight of the stocks is based on each stock’s free-float market cap, with overall weight to the largecap segment fixed at 50%, for the midcap segment at 30%, and smallcap segment at 20%. The top 10 constituents of this index by weight are Reliance Industries, Sun Pharmaceutical Industries, Tata Motors, Maruti Suzuki India, Mahindra & Mahindra, Tata Steel, Bajaj Auto, Hindalco Industries, JSW Steel, and Cipla. Similarly, the Nifty500 Multicap Infrastructure 50:30:20 Index will track the performance of select largecap, midcap, and smallcap stocks from the Nifty 500 index that represent the infrastructure theme. This index too, will have 75 constituents, and the weight of the stocks is based on each stock’s free-float market capitalization, with overall weight to the largecap segment fixed at 50%, for the midcap segment at 30%, and the smallcap segment at 20%. The top 10 constituents of this index by weight are Larsen & Toubro, RIL, Bharti Airtel, NTPC, Max Healthcare, Power Grid Corp, UltraTech Cement, Indian Hotels, ONGC, and Adani Ports and SEZ. L&T has the highest weight at 10.35%, while Adani Ports has a weight of 2.29%.The Nifty MidSmall Healthcare will track the performance of the midcap and smallcap stocks within the healthcare sector. The index includes upto 30 stocks selected from Nifty MidSmallcap 400 index based on the stock’s six-month average free-float market capitalization.

Indian market recouped morning losses and closed flat on Wednesday with a negative bias. The S&P BSE Sensex was down 27 points while the Nifty50 held on to 22400 levels.Sectorally, buying was seen in utilities, power, public sector and IT stocks while selling was seen in realty, auto, and FMCG.Stocks that were in focus include names like Cochin Shipyard which rose nearly 9% to hit a fresh record high, Adani Power which gained 5% and Nalco which closed with gains of over 5% to hit a fresh record high on Wednesday.We have collated a list of three stocks that either hit a fresh 52-week high, or an all-time high or saw a volume or a price breakout.We spoke to an analyst on how one should look at these stocks the next trading day entirely from an educational point of view.Here’s what analyst Priyanka Limaye (CA, CMT) has to say:Cochin ShipyardThis stock has been in a good bull run since November 2023. After undergoing consolidation of almost 8-10 weeks, the stock was comfortably holding above 20-day EMA on a weekly basis.The Relative Strength Index (RSI) is trading in an extremely bullish zone. The stock gave a good break out above 940-950 zone, which was acting as resistance earlier.This week, volumes are pretty good, and the stock is expected to test Rs 1,150 and Rs 1,250 in the short term.109008668Adani PowerThe stock has given a breakout above its earlier high of Rs 432.50 in November 2023. Since then, it has been consolidating in the 485-585 range for almost 4 months.It has now given a breakout above 590 levels and the RSI has entered an extremely bullish zone on the daily time frame. Levels of 560-590 are likely to act as support zones. The stock can reach new heights of 830-900 zone.109008659National Aluminium Company (Nalco)The stock had been consolidating in a range of 139-169 for almost a month and has now given a breakout above 169 levels with good volumes confirming the breakout.With RSI entering the bullish zone and MACD crossing above zero, the stock is expected to test 200 level in a short span. A stop loss can be placed below Rs150 on a closing basis.109008635(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of the Economic Times)

The Nifty 50 ended on a flat note after a volatile session on Wednesday as mixed cues from global markets triggered profit booking. Rollover of positions to the May derivative series ahead of the expiry of the April series added to the volatility. While Nifty 50 ended flat at 22,434.65 points, it has formed a small positive candle on the daily chart with a gap down opening and with an upper shadow.Technically this pattern indicates broader range movement in the market near all-time highs, said Nagaraj Shetti, senior technical research analyst at HDFC Securities. “The smaller degree positive pattern like higher tops and bottoms is intact as per daily chart and present weakness could be in line with the new higher bottom of the sequence. Hence, any weakness from here could be a buy on dips opportunity,” Shetti said.A decisive move above 22,550 is likely to pull Nifty towards the next crucial hurdle of 22,800 levels, while immediate support is placed at 22,300 level, he added. Here’s what other market experts have to say about the current market set-up.Jatin Gedia, Technical Research Analyst, Sharekhan by BNP ParibasThe Nifty has been witnessing consolidation in the past three trading sessions. The momentum set-up on the daily and hourly time frames provides divergent signals and, hence, can lead to a consolidation in the near term.On the downside, 22,400-22,350 is acting as a support zone, while 22,500-22,530 is the immediate hurdle zone. A breach of the range on either side shall result in a trending move.Shrikant Chouhan, Head Equity Research, Kotak SecuritiesTechnically, after a gap down open, the Nifty 50 took support near 22,350 level and bounced back sharply. However, it failed to close above 22,500 points, which is largely negative.We are of the view that the current market texture is still non-directional. For the bulls now, a fresh uptrend rally is possible only after the dismissal of 22,500. Above this level, the market could rally till 22,600-22675.On the flip side, today’s low of 22,350 points would act as a sacrosanct support level for the traders. Below the same, it could trigger a short-term correction till 22,200-22,150.Mandar Bhojane, Research Analyst, Choice BrokingOn the daily chart, the Nifty formed an inverted hammer after reaching a high of 22,521 levels. In the second half of trading, it fell again and sustained above the support of the 22,420 level, closing at 22,445.55.If Nifty crosses the 22,520 level, it is expected to further rise to 22,700 and 22,800 levels. On the flip side, 22,300 acts as an immediate support level.Analysis of the open interest (OI) data reveals the highest OI on the call side at the 22,700 strike price, followed by the 22,800 strike price. On the put side, the highest OI was observed at the 22,000 strike price.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Defending its case against Delhi Chief Minister and Aam Aadmi Party national convenor Arvind Kejriwal, the Enforcement Directorate rebuked claims of timing of the arrest, and said that money laundering is worse than a murder as it is committed coldly. The court has reserved it judgment in Kejriwal's plea opposing the arrest in the Delhi Excise Policy case.Earlier on, senior advocate AM Singhvi representing Kejriwal highlighted the timing of the arrest, with the Lok Sabha elections fast approaching. However, Raju said that the criminals are supposed to be arrested and supposed to be put in jail."I can commit murder and commit rape but say to the police.. no no no don’t arrest me...elections are near. Any political leader will come and say, We will get immunity because elections are near…This is absolutely bogus. In this way, we can arrest nobody because the elections are near? What kind of law are we laying? Money laundering offence is worse than murder because murder is committed in the heat of the moment but money laundering is done coldly," Raju argued.&mdash; ANI (@ANI) "The election is just the bogey to divert the attention of the court from the main issue, from the scam that runs into 100s of crores. A large number of mobile phones have been destroyed...You act through the middleman and when things come to you, you say I don't know anything, I didn't do anything," he said.Appearing for the ED, Additional Solicitor General SV Raju said that as far as the investigation against Kejrwal was concerned, it was not over. "The offence of money laundering that has taken place is clear and beyond doubt. The court has taken cognisance of the earlier prosecution complaints filed. Cognisance is of the offence and not of the offender," Raju said.In his arguments, Raju told the HC that all the large payments which were given to the vendors of the AAP campaign were paid in cash and the same were not accounted for in the books of accounts.Role of Arvind Kejriwal in Delhi Excise Policy caseThe Rouse Avenue Court, Delhi had remanded Kejriwal to a 15-day judicial custody till April 15 in an ongoing probe in the now-defunct Excise Policy case brought about by the Delhi government run by AAP. Kejriwal has been called the "kingpin" in the alleged scam by the investigative agency. He has been accused of giving the ED "evasive replies" and concealing details relevant to the investigation."Sh Arvind Kejriwal, Chief Minister of NCT of Delhi, is the kingpin and key conspirator of the Delhi Excise Scam in collusion with Ministers of Delhi Govt, AAP leaders and other persons.. Sh Arvind Kejriwal was directly involved in the formulation of the Excise Policy 2021-22."This policy was being drafted considering the favours to be granted to the South Group and was formed in collusion with Sh Vijay Nair, Sh Manish Sisodia and members representatives of the South Group," said the response.Kejriwal is involved in the use of proceeds of crime thus generated in the Goa election campaign of the AAP of which he is the convenor and the ultimate decision-maker, it added.

Indian rupee's exchange-traded options went into a tizzy on Wednesday after brokers asked clients to submit proof of underlying exposure on their derivative contracts or unwind their existing positions, three market participants said. This came after brokers thought a central bank rule, to be effective on April 5, that exchange-traded rupee derivative transactions can be used only for hedging meant brokers had to collect proof of such exposure before allowing such trades. However, as Reuters exclusively reported, brokerages were doing so of their own volition and had not been instructed to do so by the central bank. The premium on out-of-the-money dollar/rupee put options expiring on April 26 soared up to 250%, despite spot dollar/rupee inching up 0.04% to 83.4200. Typically, the premium on put options should fall when spot prices rise, unless there is a change in volatility expectations. Further, the option premium on the 83.25 strike put was higher than on the 83.3750 strike put. A put option allows the buyer to sell dollar/rupee at the strike price on the expiry date. A right to sell at a lower strike price should cost less. "The liquidity in options is drying up, bid-ask prices are wider, leading to the anomalies (in premiums)," said Sajal Gupta, executive director and head of forex and commodities at Nuvama Institutional. "It's a very challenging situation out there." Out-of-the-money call options for the April 26 expiry climbed between 100% and 300%. "This is unprecedented. The forced unwinding of positions is leading to full-on panic," said a head at a large brokerage, declining to be named due to company orders to not speak to the media on any matter related to rupee currency derivatives. "We had, in a way, anticipated this and yesterday itself we were asking our clients to exit their positions."

Private carrier Air India on Wednesday launched a revamped loyalty programme with a simplified structure, offering more rewards and added benefits to its customers. In its first overhaul in more than a decade, the revamped loyalty programme -- Flying Returns -- moves away from the legacy model of miles-based collection of points to a fairer, more equitable spend-based approach, Air India said in a statement. Members of the programme will now be able to avail the benefits and collect points based on the new structure, starting Wednesday, it said without divulging the number of the existing members. Some of the features of the revamped programme include no expiry of points for active members, no blackout dates, same tier privileges, collection and redemption across Star Alliance partner airlines worldwide and new customer-friendly digital interface to provide a one-stop platform for transactions, among others, it said.