Latest Stock Market News

Nifty rose for the 14th consecutive session, closing at 25,279.85, supported by ICICI Bank and HDFC Bank. BSE Sensex fell slightly to 82,521.66. Here are Tuesday’s most active stocks.

The 12-month cumulative rolling investment by domestic mutual funds reached a record high of Rs 3.3 lakh crore ($39 billion) in August, according to SEBI data, driven by new opportunities in the primary market including IPOs and qualified institutional placements.

The Nifty Realty index closed 0.52 per cent down at 1045.4.

Companies often initiate buybacks to return capital to shareholders, signal confidence in their stock, or improve financial metrics like EPS.

Kross Ltd’s IPO, focusing on trailer axles and suspension assemblies, opens for subscription on September 9 and closes on September 11, with anchor investor bidding on September 6. The Rs 500 crore issue includes up to Rs 250 crore in fresh equity and Rs 250 crore from an offer for sale (OFS) by promoter shareholders Sudhir and Anita Rai.

“Aadhar is a large affordable HFC (Rs 211 billion of AUM in FY2024, 7% market share in the affordable segment) with a long track record, well-diversified geographical presence and customer profile. Its multipronged expansion and appraisal strategy will drive 21% AUM CAGR (FY2024-27E) with low credit costs,” said Kotak Equities in its report.

Raymond shares jumped 9% to Rs 2,182 ahead of its lifestyle business listing this week. Brokerages, including Motilal Oswal and InCred, view this as transformative. Raymond aims for 12-15% sales growth and doubling EBITDA to Rs 2,000 crore by FY28.

Nouriel Roubini points out frothiness in US stock markets driven by AI optimism and examines potential impacts of the upcoming US election. He also discusses geopolitical risks like the Russia-Ukraine war and advises India to focus on high-value-added manufacturing over low-value-added, labor-intensive sectors for achieving its development goals by 2047.

Headline index BSE Sensex, however, closed with minor declines at 82,555, falling by 4 points or 0.01%.

The promoters of the company, also known as Moneywise Financial Services Pvt. Ltd., have mandated Prudenthill Advisors LLP and Riverstone Capital Private Limited, both founded by ex-Credit Suisse bankers Rahul Bahety, Himanshu Sarda and Nipun Jain, to lead the advisory for this transaction, the people cited earlier said.