Latest Stock Market News

Kolkata-based Vikram Solar, a prominent solar photovoltaic module manufacturer in India, has submitted its draft red herring prospectus (DRHP) to SEBI for an IPO. With over 15 years of industry experience, the company plans to raise up to Rs 1,500 crore through fresh share issues, along with an OFS of up to 17.45 million equity shares by its promoter group.

Promoters held 38.12 per cent stake in the company as of 30-Jun-2024, while FII and DII ownership stood at 27.19 per cent and 13.71 per cent, respectively.

InCred Equities maintains an ‘add’ rating for HDFC Bank, citing strategic loan sell-downs, semi-urban and rural branch expansion, and a focus on profitable growth. The bank is expected to overcome the near-term loan slowdown, with improved loan growth and net interest margin projected up to FY27F.

Hem Securities has buy call on Escorts Kubota with a target price of Rs 4,974. The current market price of Escorts Kubota is Rs 4,220.15.

Metals are clearly a fairly decent tactical play at this point and good news that US has indicated a quarter, slightly lower cuts, which means the economy is doing well and it is just that they want to move towards a lower interest rate regime, which is always good for metal stocks.

As of 30-Jun-2024, promoters held 35.91 per cent stake in the company, while FIIs held 24.44 per cent and domestic institutional investors had 12.67 per cent.

The Relative Strength Index of the stock stood at 51.37 on Tuesday.

The stock quoted a 52-week high price of Rs 4169.5 and a 52-week low of Rs 1590.3.

The ATF prices have been cut to Rs 87,597 per kg in Delhi, down from Rs 93,480 per kg earlier. The price reduction will help ease the burden on airlines for whom fuel makes up 40% of the airlines’ operating costs.

A total of 729,805 shares changed hands on the counter till time (IST).