Latest Stock Market News

Northern Arc Capital IPO: The initial public offering (IPO) of Northern Arc Capital will be available until September 19. The company has secured Rs 228 crore from anchor investors prior to the issue. The price band for the shares is set between Rs 249 and Rs 263, with investors able to bid for 57 shares per lot.

The idea is that this is part of our family of smart beta or factor funds, which have gained significant traction in India over the last three to four years. The strategy focuses on creating a portfolio of fifty stocks with the highest price momentum across the Nifty 500 universe, which includes large caps, mid caps, and small caps. The NFO (New Fund Offer) for this fund began on the 4th and will end on the 18th of September 2024.

The market has already factored in a series of rate cuts, so attention is shifting to new concerns, particularly the anticipated economic slowdown that typically follows every economic cycle.

One big concern affecting markets globally is the interest rate hikes happening in Japan, something we haven’t seen in ages. If you recall, in the first week of August, there was a lot of noise around the yen carry trade unwinding, which triggered a knee-jerk reaction.

NMDC and 38 other companies have set September 17 as the record date to determine shareholders eligible for dividend payments. Today is the last day to buy shares of these companies to qualify for dividends. Investors must purchase shares at least one day before the ex-date to be eligible for dividends.

The strong strangle strategy is an options trading method where an investor buys both an out-of-the-money (OTM) call option and an OTM put option on the same asset, with the same expiration date. This strategy is designed to capitalize on significant price movements in either direction. The strategy is called "strong" when the options are positioned far from the current price. This setup lowers the cost of the strategy while still allowing for potential profits if the asset undergoes considerable volatility.

Brokerage firms BofA and Nomura have given buy ratings to HUL and Macrotech Developers, respectively. CLSA has an outperform rating on Axis Bank, while UBS has a sell view on Hero Motocorp. These recommendations highlight potential growth areas and strategic focuses for each company.

Mahindra & Mahindra Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 340614.98 Crore) operating in Auto sector.

Gold October futures at MCX opened higher at Rs 73,645 per 10 gram, while silver December futures surged nearly 1% to Rs 90,008/kg. Internationally, gold prices approached record highs due to a weaker dollar and anticipated aggressive rate cuts by the U.S. Federal Reserve.

CIE Automotive India Ltd. key Products/Revenue Segments include Automotive Accessories, Other Operating Revenue and Sale of services for the year ending 31-Dec-2023.