Latest Stock Market News

SpiceJet has set a floor price of Rs 64.79 per share for the sale of securities to qualified institutional buyers through which the budget carrier aims to raise up to Rs 3,000 crore. Last week, shareholders approved a proposal to raise up to Rs 3,000 crore.

Gold imports more than doubled in August to a record high of USD 10.06 billion, mainly on account of a drastic cut in customs duty and ongoing festive demand, according to the Commerce Ministry data. Gold imports stood at USD 4.93 billion in August 2023.

Sector-wise, buying interest was observed in auto, utilities, consumer durables, telecom, and realty, while metal, infrastructure, and capital goods faced selling pressure.

The company, working with its lead managers, might decide to raise additional funds up to Rs 120 crore through methods like a private placement or preferential offer. If this happens, the amount raised in the current share offering will be decreased accordingly.

Rexas Finance (RXS) is poised to become a key player in tokenising real-world assets using blockchain technology. With its presale underway, the platform aims to revolutionise trading in assets like real estate and art. Predictions suggest significant price increases by 2025, driven by major exchange listings and DeFi integrations.

A total of 605,461 shares changed hands on the counter till 01:49PM (IST)

The stock traded at a P/E multiple of 16.23, while the price-to-book value ratio stood at 5.78.

Indian indices rose for the second day, with Nifty hitting a record 25,418.55 and Sensex reaching 83,079.66. Both indices saw modest gains despite a range-bound trading day.

The majority of Nifty stocks saw declines today, with 29 stocks falling and only 21 advancing. The top performing stocks included Hero MotoCorp, Bajaj Auto, Bharti Airtel, NTPC, and Mahindra & Mahindra, while the biggest losers were Tata Motors, Eicher Motors, Tata Steel, Coal India, and JSW Steel.

Nifty formed a Doji candle near its all-time high, indicating short-term hesitation ahead of the US Fed meeting. A breakout of the 25292-25442 band could lead to a sharper move. OI data shows highest call and put open interest at 25,400 and 25,300 strike prices, respectively.