Latest Stock Market News

A total of 26,696 shares changed hands on the counter till time (IST).

Shriram Finance raised $500 million through a dollar bond at 6.15%, driven by strong demand. Biocon Biologics plans to follow with a $950 million bond for refinancing.

The stock traded at a P/E multiple of 85.31, while the price-to-book value ratio stood at 23.16.

The IPO of KRN Heat Exchanger opened for subscription earlier today and saw strong demand, being subscribed 7.5 times on the first day. By noon, non-institutional investors (NIIs) had subscribed 14.75 times, while the retail category was subscribed 8.8 times.

On the technical charts, the 200-day moving average of the stock stood at Rs 109.66.

Exxaro Tiles shares surged over 30% after BofA Securities acquired a 1.48% stake. The company plans a board meeting to discuss a potential stock split.

The stock quoted a 52-week high price of Rs 8259.95 and a 52-week low of Rs 3973.15.

IEX Share Price: Market coupling, expected to be implemented by the end of this fiscal year or the start of FY26, aims to establish a unified price for electricity across different trading platforms. IEX, which currently dominates the power trading market with an 84% share, may face new challenges due to this change.

Mazagon Dock shares rose 125% over six months but fell 3% recently. Analysts suggest cautious trading, with resistance at Rs 4,700 and potential further declines towards Rs 3,500-3,400.

Dipan Mehta, Director of Elixir Equities, believes that the Indian market is poised for a significant rise due to strong capital inflows. He suggests that banks and NBFCs could lead this growth. Despite recent corrections in PSUs, their valuations may become attractive again with positive quarters ahead. He further says Sensex and Nifty can surge 10-15% in a short time.