Latest Stock Market News

Jinkushal Industries’ Rs 116.15-crore IPO received strong investor response, fully subscribed on day one. The company, a leading non-OEM construction machinery exporter with international presence, plans to use proceeds for working capital. Retail investors led subscriptions, and the IPO carries a grey market premium of 17%, with long-term potential.

Global copper prices are surging due to a production halt at Indonesia s Grasberg mine, the world s second-largest, sparking supply crunch fears. Goldman Sachs has lowered its copper mine supply estimates for 2025 and 2026, anticipating prices to rise potentially to $10,200–$10,500 a ton. Motilal Oswal remains bullish, projecting copper to reach all-time highs, driven by decarbonization, electrification, and digitalization.

Elara Capital initiated coverage on CarTrade Tech with a Buy rating, targeting ₹3,590, implying 50% upside. The multibagger stock rallied 160% in a year, boosted by OLX India acquisition, asset-light model, and robust growth outlook.

Tata Consumer Products (TATACONSUM) shares are currently trading near Rs 1,140.10 and have been consolidating in the near term after witnessing a strong bounce from lower levels.

Ten IPOs close today, with grey market premiums (GMPs) indicating investor sentiment. High-demand issues include Seshaasai, True Colors, and Solarworld, helping track potential listing gains and market appetite.

Indian equities slid for a fifth straight session Thursday, with the Sensex and Nifty dragged lower by financial and IT shares as persistent foreign outflows and worries over U.S. visa curbs weighed on sentiment.

The Indian stock market s increasing detachment from the real economy is a growing concern. Unlike the 2003-2008 boom, fueled by interest rate cuts and strong economic growth, the recent SIP Bull market, particularly post-2009, shows a worrying disconnect.

Tax authorities are set to leverage new provisions in the Companies Act to access data stored on servers located outside India. The government has instructed tax officials to utilize these rules, requiring companies to maintain daily backups of their books of account on Indian servers, even if primary storage is offshore.

Anand Piramal assumes the role of chairman at Piramal Finance, succeeding his father, Ajay Piramal, after the merger of Piramal Enterprises. The board also accepted the resignations of Ajay and Swati Piramal, with Ajay continuing to lead Piramal Group. Jairam Sridharan will be the MD & CEO, while new independent and non-executive directors have been appointed, pending shareholder approval.