Latest Stock Market News

Shares of Paytm’s parent company, One97 Communications, fell 5.5% after the Union Cabinet approved a Rs 1,500 crore incentive to promote low-value UPI transactions. The scheme offers small merchants a 0.15% incentive on UPI transactions up to Rs 2,000. Motilal Oswal lowered its target price for Paytm due to concerns over the macro-environment and UPI market share.

KEI share price: Shares of KEI Industries plunged 14.3% after Adani Enterprises announced its entry into the cables and wires sector via a JV with Praneetha Ventures. Rival stocks Polycab and Havells also fell up to 8.5% on competition fears. KEI, already under pressure, extended its YTD decline to 14%, while Adani Enterprises traded higher at **Rs 2,

The Nifty Realty index was trading 0.72 per cent up at 851.45.

PSU stocks are set to conclude FY25 weakly, marking their poorest performance in three years with 73% of stocks falling up to 48%. Mazagon Dock Shipbuilders stands out as the sole multibagger, while sectors like defence and power show potential for recovery.

Gautam Trivedi of Nepean Capital discusses the recent market correction, attributing it to necessary adjustments and highlighting value in power, real estate, and travel sectors. He expresses caution regarding the IT sector s future due to AI s potential impact and anticipates significant power demand growth.

Ajay Bagga asserts that sectors such as gems, jewellery, electronics, and pharma could be hit by Trump s tariffs, affecting $80 billion in annual exports to the US. He believes the market will bottom out by June, with price levels stabilizing around 21,800. Key opportunities lie in the defense sector and private financials.

As of 10:36 am IST, Bitcoin was up 3.25% at $85,659, while Ethereum gained nearly 4.5% to reach $2,020. The global crypto market cap rose 3.4% to $2.81 trillion in the past 24 hours.

IndiGo shares surged 7.9% in two days, reaching an all-time high after unveiling its FY30 roadmap. The airline plans to expand routes, enhance international operations, and introduce Airbus A321 XLR. Analysts have mixed views, with targets ranging from Rs 4,660 to Rs 5,700.

ICICI Securities has a buy recommendation on Grasim Industries with a target price of Rs 3,093. Currently priced at Rs 2450.55, Grasim s revenue and profits have shown substantial growth. The company aims to capture a significant market share in the paint segment, with expected revenues of Rs 100 billion by FY28. Promoters hold a 43.11% stake.

Shares of major Indian IT companies, which generate a significant portion of their revenue in U.S. dollars, rose on Thursday. Mphasis Ltd, Coforge, Wipro, Infosys, and LTIMindtree saw gains ranging from 2.2% to 3.2%. Wipro s shares also climbed after the company launched its new Agentic AI services, developed in collaboration with Nvidia AI and Wega Studio.