Latest Stock Market News

A long buildup occurs when open interest and trading volumes increase alongside a rise in the underlying stock price in the F&O segment.

Rahee Infratech Limited, based in Kolkata, has submitted its draft red herring prospectus to SEBI for an IPO. The company aims to raise funds through a mix of fresh issues and an offer for sale. Proceeds will fund capital expenditure, working capital, and general corporate purposes. Currently, the company is actively involved in several bridge and track projects across India.

Proceeds from the fresh issue to the extent of Rs 50 crore will be utilised for the purchase of machinery, equipment and vehicles; Rs 280 crore for funding the working capital requirements of the company and the rest for general corporate purposes.

New STT rates for F&O came into effect on October 1. The STT on futures increased to 0.02% from 0.0125%, and on options to 0.1% from 0.0625%. This results in a net increase in transaction costs. Additionally, BSE and NSE implemented a uniform fee structure.

Short covering occurs when traders repurchase shares they had previously sold short, typically in response to a change in market sentiment or new information. This process usually leads to a decrease in open interest and can push the stock price higher. On Tuesday, five stocks experienced short covering.--

Long unwinding happens when stocks or positions owned for a longer period are sold either to book profit or to exit it in anticipation of impending bearishness.

A panel of top ministers from the OPEC+ producer group meets on Oct. 2 to review the market, with no policy changes expected. OPEC+, comprising the Organizations of the Petroleum Exporting Countries (OPEC) plus allies including Russia, is scheduled to raise output by 180,000 barrels per day (bpd) in December.

Highway Infrastructure Ltd (HIL) filed for an IPO, including a fresh issue of Rs 105 crore and an OFS of Rs 310 crore. HIL is engaged in tollway collection, infrastructure development, and real estate. Jaro Institute of Technology Management and Research also filed for an IPO, with a fresh issue of Rs 170 crore and an OFS of Rs 400 crore by promoter Sanjay Namdeo Salunkhe. Jaro Education plans to use proceeds for marketing, debt repayment, and general corporate purposes.

Garuda Construction and Engineering IPO will open for subscription on October 8. The issue includes a fresh equity sale worth Rs 173 crore and an OFS of Rs 90 crore, closing on October 10. The company has set a price band of Rs 92-95 per share, allowing investors to bid for 157 shares in one lot.

Vipul Organics shares surged 20% after announcing a rights issue. The company plans to raise up to Rs 25 crore through the issue, which is priced at a 79.3% discount to the previous closing price. The funds will be used for capacity expansion at its Sayakha facility.