Latest Stock Market News

Adani Power shares are declining after a recent surge. The stock had risen following a stock split and positive brokerage reports. Profit booking has led to a decrease in share value. Technical indicators suggest the stock is overbought. Analysts advise caution, suggesting buying on dips. Brokerages support long-term growth, but execution risks exist. Valuations are currently at a premium.

Dhoot Transmission Ltd., backed by Bain Capital, has enlisted Axis Bank, Kotak Mahindra Bank, Jefferies, and Nomura to manage its upcoming Mumbai IPO. The offering, anticipated next year, aims to raise approximately $250 million through a combination of fresh shares and secondary sales, potentially valuing the automotive-parts maker at up to $1.5 billion.

VST TMT shares faced a 5% lower circuit after a modest listing premium on the BSE and NSE. Experts suggest investors consider booking partial profits, setting a stop-loss at Rs 90, due to the company s cyclical sector and geographic concentration. Future performance hinges on debt reduction, operational efficiency, and expanding beyond Gujarat to bolster investor confidence.

Anand Rathi Share IPO saw 10% subscription in early hours, with retail investors leading demand. GMP trades at 7% premium. The Rs 745 crore issue, fully a fresh issue, aims to fund working capital and corporate purposes, backed by strong financial growth and a robust client base.

Jaro Education IPO is currently fetching a grey market premium (GMP) of around 15%, or ₹130, indicating healthy investor confidence ahead of listing. This suggests a potential listing price of about ₹1,020 per share.

Kamath s Rainmatter has put in $2 million while Adventz, Caspian and Singapore s ThinKuvate have invested $2 million between them, Amwoodo founder and chief executive Agni Mitra told ET.

India is planning to allow more foreign investment in Public Sector Banks. The current limit is 20%. The government wants to strengthen these banks. This will help them raise more capital. The government will keep at least 51% stake. This ensures the banks remain public. The goal is to make them globally competitive.

Jain Resource Recycling, a non-ferrous metal company, is set to launch an IPO. The company aims to raise ₹500 crore through fresh equity. It will use the funds to repay debt and cover corporate expenses. Additionally, ₹750 crore will be raised through an offer for sale. Post-IPO, promoter stake will decrease.

Markets experienced a slight dip amid volatility on expiry day, continuing a consolidation phase. Optimism from GST reforms and festive demand is countered by external pressures like visa-fee hikes and foreign outflows. Mazagon Dock, Indian Hotels, YES Bank, Tata Motors, Puravankara, and Swiggy saw significant developments, including partnerships, stake acquisitions, and leadership changes.

JM Financial, along with JM Financial Services and JM Financial Products, settled with SEBI for ₹1.9 crore over securities law violations related to NCD public issues in 2023. They also face a three-month debarment from debt security distribution and IPO financing. The case involved concerns about retail ownership decline and loan provisions for NCD applications.