Latest Stock Market News

Shreeji Shipping IPO GMP: As of Thursday, Shreeji Shipping’s IPO is quoting a grey market premium (GMP) of ₹27, implying a likely listing price of around ₹279, or about 11% above the issue price. The GMP reflects market sentiment but is unofficial and subject to change, so it shouldn’t be seen as a sure predictor of the stock’s listing price.

Aditya Birla ARC, a joint venture, provided a 40% return to its investors. This is the highest among Indian asset reconstruction companies. The ARC invested ₹6,000 crore in stressed assets. It generated substantial profits from investments like KSK Mahanadi Power and Rattan India Power. However, the company plans to surrender its ARC license.

Indian market continues its upward trend. IndusInd Bank addresses past issues. Godrej Properties acquires stake in Godrej Skyline Developers. Promoters may sell stake in Clean Sciences. Exide Industries invests in Exide Energy Solutions. Vedanta informs about corporate guarantee. Jupiter Wagons receives order for Vande Bharat train wheelsets. UltraTech board approves stake sale in India Cements.

Indian renewable energy companies are preparing for significant fundraising through IPOs. Several companies like Emmvee Photovoltaic and Juniper Green Energy await SEBI approval. NTPC Green Energy s successful listing has boosted the sector. Experts believe this signals the sector s maturity. Companies will use IPO proceeds for capacity expansion. This surge in activity is driven by India s ambitious renewable energy targets.

Nazara Technologies shares plummeted after the Lok Sabha passed a bill banning real money gaming. The company clarified its indirect exposure through a stake in PokerBaazi, which reported losses. Analysts suggest Nazara s investment in PokerBaazi is now at risk, while Delta Corp is unlikely to be affected due to a prior divestment.

Asian equities are poised for a mixed open as Wall Street favored bonds ahead of the Federal Reserve s Jackson Hole gathering. Fed officials highlighted inflation risks, fueling debate within the central bank. Technology stocks declined, with the Magnificent Seven experiencing their longest losing streak since April, raising concerns about a potential market correction.

On Wednesday, the Nasdaq and S&P 500 experienced declines as investors shifted away from tech stocks towards sectors with lower valuations, awaiting insights from Federal Reserve officials at the Jackson Hole symposium. Tech stocks faced pressure due to concerns about AI valuations and potential government intervention. Meanwhile, investors are closely monitoring upcoming economic data and earnings reports from major retailers.

Oil prices experienced a slight increase due to a larger-than-expected decline in U.S. crude oil and fuel inventories, signaling strong demand. Despite this positive sentiment, concerns persist as negotiations to resolve the Russia-Ukraine conflict remain ongoing, potentially impacting Russian oil supplies and leading to further sanctions.

The U.S. dollar remained stable amidst concerns about President Trump s repeated criticism of the Federal Reserve, specifically targeting Governor Lisa Cook. Investors are closely watching Fed Chair Jerome Powell s upcoming speech for hints about potential rate cuts, especially after a weak jobs report.

Australian shares reached a record high, propelled by gains in the mining and banking sectors. Investors are keenly awaiting U.S. Federal Reserve Chair Jerome Powell s speech for insights into future interest rate decisions. Meanwhile, James Hardie and Whitehaven Coal experienced significant declines due to bleak outlooks and profit drops, respectively.