Latest Stock Market News

Modern Insulators, a lesser-known firm, has invested in Swiggy by acquiring 1.38 lakh shares at ₹360 per share, valuing the food delivery giant at ₹85,320 crore. This comes as Swiggy prepares for its $1.25 billion IPO. Major investors like Prosus and SoftBank are expected to offload part of their holdings.

Moves letter rogatory under PMLA to get evidence from Barcelona servers.

NTPC Green Energy, a subsidiary of NTPC, has filed for a ₹10,000-crore IPO with the Securities & Exchange Board of India. The IPO will be a fresh issue of shares. The company plans to use ₹7,500 crore to reduce the debts of its subsidiary NTPC Renewable Energy and the rest for general corporate purposes.

Indian Renewable Energy Development Agency (IREDA) plans to raise ₹30,000 crore in FY25 through debt and equity. The company, which listed in November 2023, aims to fund part of this through a follow-on public offer by early next year. IREDA seeks to expand its loan book beyond ₹85,000 crore by the end of the current financial year.

​So, as the Fed eases, there will be other banks. Already five-six banks have been ahead of the Fed, especially Canada and ECB, Switzerland. So, this easing is a pivotal moment. Second, as far as India goes, look at quarter one GDP, 7.4% growth in private consumption expenditure.

​Certainly, it will be very favoured stock. So, I think we are seeing some sort of position being taking place in the BSE. Do keep in mind that a lot of liquidity has been sucked up and these counters are pretty much dry. So, even small amount of buying can lift the stock prices.

US stocks surged after the Federal Reserve cut interest rates by half a percentage point, ending its rate-hiking cycle. The Fed reduced its overnight lending rate to a range of 4.75%–5%. Wall Street responded positively, with the Dow Jones climbing 120 points and both the S&P 500 and Nasdaq Composite reaching new all-time highs.

Gold prices reached an all-time high after the U.S. Federal Reserve cut interest rates by 50 basis points, weakening the dollar. Spot gold rose to $2,592.39 per ounce, while U.S. gold futures settled at $2,598.60. Investors are now awaiting comments from Fed Chair Jerome Powell for further policy direction.