Latest Stock Market News

On the technical charts, the RSI of the stock stood at 50.81.

A total of 230,186 shares changed hands on the counter till 10:09AM (IST).

Subam Papers debuts on the BSE SME platform with an expected 16% gain on its upper price band of Rs 152. The company, which manufactures eco-friendly kraft paper and duplex board using wastepaper, aims to reduce its carbon footprint with renewable energy. Its production capacity and financial performance have grown significantly.

Shaun Rein, Managing Director of China Market Research Group, recommends short-term investment in Chinese equities, highlighting a recent government stimulus to boost investor confidence. The Chinese government aims to improve the capital market while avoiding real estate bubbles. Rein anticipates 10-20% growth in the next one to three weeks, urging investors to stay cautious.

Paramount Dye Tec shares will debut on the NSE SME platform on Tuesday. The net proceeds from the public offer are slated for manufacturing units setup, debt repayment, land registry expenses, and general corporate purposes. The company specializes in recycling waste synthetic fiber into quality yarn, contributing to sustainability and economic efficiency.

Analyst Anand Tandon observes initial market fears due to recent IPO numbers and suggests waiting for market stability. He notes potential growth in banking, pharma, and IT sectors. Auto sector remains uncertain with high inventory levels. IT commentary may turn positive, while banking may face temporary slowdowns. Paint and cement sectors face challenges with new entrants and low capacity utilization.

The SME IPO of Shiv Texchem opens today and closes on October 10, aiming to raise Rs 101 crore through a fresh equity sale of 61.05 lakh shares. The company plans to list on the BSE SME platform. Key details about the offer are provided to help investors make informed decisions before subscribing.

Tata Motors shares will be watched on Tuesday after Jaguar Land Rover (JLR) reported a 3% decline in Q2 FY25 retail sales, with 1,03,108 units sold. However, sales for the first half of the fiscal year rose 3% YoY to 2,14,288 units.

The Indian market is expected to rebound on Tuesday, following positive global cues. Nifty futures closed down 0.67% at 25,005 on Monday. Options data shows maximum Call OI at 27,000 and 26,000, and maximum Put OI at 24,000 and 24,500. Analysts suggest a broader trading range between 24,400 and 25,400, with immediate resistance at 24,950.

Global purchasing managers have been seeking to de-risk procurement from China for many years. They have been working on this, but post-COVID and due to recent geopolitical challenges, this trend has accelerated.