Latest Stock Market News

​​Analysts expect margins of oil marketing companies to improve with crude prices softening. Traders could buy IOC stock for a price target of Rs 196 with a stop loss of Rs 171, said Ruchit Jain, lead research analyst at 5Paisa.com.

The Securities and Exchange Board of India (Sebi) is set to hold a crucial board meeting on Monday, following allegations of conflict of interest against chairperson Madhabi Puri Buch. The board may discuss these accusations and issues related to a withdrawn press release on employee matters, although they are not on the official agenda.

Fabless chip company L&T Semiconductor Technologies expects manufacturing of semiconductor products designed by it to start in the next two years.

"The Nifty is now targeting 26,500, with the potential to reach 27,000, especially if IT stocks show momentum alongside other major sectors. In the event of a dip, the 25,700-25,900 zone is expected to provide support," said Ajit Mishra – SVP, Research, Religare Broking

Gold prices rose on Monday, heading for a fourth consecutive quarterly gain. This increase is driven by expectations of a significant U.S. rate cut and rising Middle East tensions. Investors are also awaiting comments from Federal Reserve Chair Jerome Powell. Meanwhile, physical gold demand in key Asian markets has contracted due to record-high prices.

Manba Finance shares are set to debut on the exchanges today, with a strong grey market premium indicating potential gains for investors. The company plans to use the proceeds to bolster its capital base. Manba Finance has shown significant growth in two-wheeler loans and posted a substantial profit increase in FY24.

Rappid Valves shares are set to debut on the NSE SME platform today with a premium of 41% over the issue price. The IPO, which saw a subscription of 176 times, aims to fund capital expenditure, debt repayment, and acquisitions. The company specializes in manufacturing various types of industrial valves.

IDFC FIRST Bank has merged with IDFC after obtaining necessary approvals. Effective from October 1, the merger simplifies the corporate structure and enables dividend payments. Shareholders will receive 155 equity shares of the Bank for every 100 shares held in IDFC Ltd. The record date is October 10, with shares credited by October 31.