Latest Stock Market News

SEBI has reduced the time for crediting and trading bonus shares to two days from the record date. This change will be applicable to all bonus issues announced after October 1, 2024.

The board of Reliance Infrastructure Ltd will meet on September 19 to consider a preferential issue of shares to raise funds, the firm said in a stock exchange filing on Monday.

Western Carriers IPO: The Western Carriers IPO includes a fresh equity issuance of Rs 400 crore and an offer for sale (OFS) of up to 54 lakh shares by promoter Rajendra Sethia. In the unlisted market, the company’s shares were trading at a grey market premium of Rs 55 per share, which represents a 32% premium over the upper end of the issue price range.

M&M Launched Veero: Mahindra & Mahindra shares rose 2% on Monday after launching its new LCV, "Veero." The Veero is designed for the domestic market and offers best-in-class features like payload capacity, mileage, and safety. Priced at Rs 7.99 lakh, it aims to set new standards in cost of ownership and performance.

Nikhil Rungta, Co-chief Investment Officer at LIC Mutual Fund, discusses their bullish stance on non-banking financial companies, insurance, and wealth managers. He also highlights positive outlooks for pharma, IT, and FMCG sectors. Rungta notes challenges in the banking sector but sees potential for future growth. Rungta believes that the IT sector has bottomed out with the US election just around the corner and the pickup scene in the BFSI segment.

​I think broadly speaking, the market does offer a lot from a consumption perspective. So, multiple sectors and it is a very exciting space and has been for some time.

The market saw a near-even split between winners and losers, with 26 stocks closing higher and 24 lower. NTPC, JSW Steel, Hindalco Industries, Shriram Finance, and L&T led the gains, while Bajaj Finance, Hindustan Unilever, Bajaj Finserv, SBI Life Insurance Company, and Britannia Industries saw declines.

The currency was unable to benefit from weakness in the greenback in the face of dollar demand from importers, including local oil companies, traders said.

Bajaj Housing Finance shares debuted with a 114% premium on Monday, listing at Rs 150 versus an issue price of Rs 70. Here are the top 10 IPOs with over 100% first-day gains since 2010.