Latest Stock Market News

Several brokerages have upgraded the target prices of various stocks over the past month.

The IPO season in 2024 has broken an 11-year record with fresh issues surpassing offers for sale. This trend indicates companies are raising funds for growth and expansion rather than deleveraging. Major IPOs include Ola Electric Mobility, Bajaj Housing Finance, and Firstcry. The pipeline remains strong with upcoming IPOs from Hyundai Motor India and Swiggy.

In the last one week, gold prices have surged by Rs 1,900 per 10 gram while silver rose Rs 2,350/kg in the same time.

Apollo Tyres Ltd., incorporated in the year 1972, is a Mid Cap company (having a market cap of Rs 35009.94 Crore) operating in Tyres sector.

The benchmark Sensex surged 666 points to a new record high on Thursday, driven by buying in auto and banking stocks, buoyed by gains in global markets. Notable performers included Paytm, PB Fintech, and EaseMyTrip.

Macquarie has maintained an outperform rating on HDFC Bank, setting a target price of Rs 1,900. While reported profits are expected to be weak year-over-year, NII is projected to grow by 14%, with NIMs expanding to 3.52%. Deposit growth is estimated to increase by approximately Rs 800 billion quarter-over-quarter.

Oil prices have fallen for a third consecutive day, driven by expectations of increased supplies from Libya and the OPEC+ group. Brent crude futures dropped to $71.03 per barrel, while U.S. West Texas Intermediate crude fell to $67.09 a barrel. The market is cautious about global oil balances in 2025.

Gold prices remained steady after reaching a record high, driven by expectations of another U.S. interest rate cut and safe-haven demand. Investors are now awaiting key inflation data for further direction. Meanwhile, silver prices dipped slightly after hitting a 12-year peak, and platinum and palladium showed minor fluctuations.

PB Fintech stock experienced a significant drop of up to 10% before recovering to close at ₹1,694.95 on the BSE, down 1.6% from the previous day. The volatility followed reports that the company is considering launching a chain of hospitals. Investors were concerned about the high operational costs and competition in the healthcare sector.