Latest Stock Market News

Mankind Pharma announced that it would raise up to Rs 10,000 crore through issuance of non-convertible debentures (NCD) and commercial papers.

Tata Steel has stopped steel production at Port Talbot in the UK, closing the blast furnace and related plants. The company plans to invest £1.25 billion in an electric arc furnace, with government support. This transition will resume production by 2027-2028, ensuring a greener future and sustaining over 5,000 jobs while cutting 2,800 positions.

The Telecom Regulatory Authority of India (Trai) seeks opinions on how current FM radio broadcasters should shift to digital radio, aiming to create a digital radio broadcast policy. Trai requires written comments by October 28 and counter comments by November 11.

Policyholders of traditional life insurance will see reduced returns due to new guaranteed surrender value rules starting October 1. Non-participating policyholders will face a 0.3-0.5% drop in returns, while participating policies will experience decreased bonus payouts over time. These changes align with falling government bond rates.

Kotak Mahindra Bank is heavily investing in technology to meet RBI expectations and enhance competitiveness. CEO Ashok Vaswani aims for the bank to become a top three private sector player by 2030. The bank will look at both organic and inorganic growth opportunities, focusing especially on technology and profitable growth.

A look at some of the latest stock recommendations by analysts. These stocks are expected to return between 13% and 29% as per analysts’ price targets.

​​The NCDs are rated A+/Stable from both India Ratings and CRISIL Ratings. Axis Bank and Trust Investment Advisors Private are the arrangers for the issue which opens on September 30, 2024, with a tenor of 3 years, 11 months, and 7 days.

The rupee weakened to 83.79 per US dollar due to foreign investor outflows amid declining Indian equities. Intervention by the Reserve Bank of India limited further depreciation. Boosted by recent economic measures, Chinese stocks gained over 8%, drawing investor interest away from Indian markets.

Sebi has approved new norms for a faster rights issue process. The timeline is now reduced to 23 working days, compared to the current average of 317 days. The changes allow flexibility for allotment to specific investors and give an opportunity to existing shareholders. The discontinuation of certain requirements aims to streamline the process.

Despite expectations, SEBI has decided not to curb weekly F&O expirations or raise minimum contract sizes for now. This comes as the regulator grapples with a surge in speculative trading that has cost retail investors Rs 1.81 lakh crore over the past three years.