Latest Stock Market News

Adani Green Energy s shares surged following SEBI s clearance regarding Hindenburg Research s allegations, boosting investor confidence. Jefferies raised the target price to Rs 1,300, citing significant upside potential and projecting substantial capacity additions. Supported by promoter infusion and long-term power purchase agreements, the company anticipates improved financial metrics and strong EBITDA growth, despite potential risks like execution delays.

Indian IT companies face near-term challenges due to increased H-1B visa costs, potentially impacting EBIT by 10%, according to industry veteran Sandip Agarwal. While acknowledging AI disruption and slowing growth, Agarwal anticipates long-term benefits from increased offshoring.

A new $100,000 fee for H-1B visa petitions in the U.S. will apply only to new applicants, not current holders. Major companies and Indian IT firms are assessing impacts on travel and workforce deployment. The White House says the fee aims to protect American wages and prevent visa program abuse.

Anand Rathi Group launches its second IPO, Anand Rathi Share and Stock Brokers, after the success of its wealth management company. The wealth arm delivered nearly 1,000% return to investors. The new IPO aims to raise Rs 745 crore. The brokerage arm s revenue and profit have also shown significant growth.

Rubicon Research secured Rs 140 crore from TIMF Holdings and 360 ONE funds before its IPO. General Atlantic Singapore RR Pte transferred shares in this deal. General Atlantic remains the majority shareholder. The company plans to launch its IPO by the end of this year. Proceeds will be used for debt repayment and acquisitions.

Nifty s bullish trend continues, prompting buy on dips recommendations amidst GST implementation and H1B visa concerns. Experts suggest Suzlon, Sun Pharmaceutical, JSW Steel, and Axis Bank for short-term gains based on technical analysis. For longer-term investments, Jindal Saw, Venus Pipes, and Bharat Dynamics are highlighted due to attractive valuations and growth potential.

The rupee weakened slightly to 88.21 against the dollar due to a strong US currency and declining domestic equities. Concerns over the H-1B visa fee hike impacting the IT sector and India s service exports are weighing on investor sentiment. Despite this, India s forex reserves rose, and trade talks with the US are scheduled for September 22.

Indian government bonds experienced a decline, mirroring the movement of U.S. Treasuries, as traders keenly await the central and state governments borrowing plans for the fiscal year s second half. The anticipation of the government s borrowing calendar release later this month is a key factor influencing market sentiment. Simultaneously, traders are closely monitoring the states quarterly borrowing calendar.