Latest Stock Market News

Shares of Ircon International surged by 3.6% following an MoU with Patel Engineering Limited to explore joint infrastructure projects. Retail investors boosted their stake while FIIs reduced theirs. Despite a 17% revenue dip in Q1 FY25, Ircon saw a 19.5% rise in net profit.

Indian equity indices opened flat on Thursday amid mixed global signals. Early gains in IT stocks were neutralized by losses in auto and banking sectors. BSE Sensex saw a slight rise while Nifty50 dipped.

Bajaj Auto Share Price: Shares of Bajaj Auto dropped 8.5% after the company reported Q2 FY25 earnings below expectations. The net profit rose by 9% to Rs 2,005 crore. Analysts gave mixed reactions, with ratings ranging from buy to sell, citing factors like gross margins, festive demand, and export recovery. The company’s future prospects in electric and CNG vehicles look positive.

PSU stocks have seen significant declines, with some dropping over 40% from their 52-week highs due to expensive valuations and government share sales. Stocks like Cochin Shipyard, Mangalore Refinery, and HUDCO have been notably affected. Despite short-term turbulence, long-term prospects for rail and defence sectors remain positive.

In September 2024, mutual funds made significant new investments, deploying Rs 18,200 crore in the Indian market. Bajaj Housing Finance emerged as a top choice, with multiple funds collectively buying millions of its shares. Other notable investments included PN Gadgil, GE T&D India, and Kross.

Gold futures at MCX opened at a record high, settling slightly lower. Silver also declined amid geopolitical tensions and expectations of ECB interest rate cuts, maintaining volatile trading conditions.