Latest Stock Market News

The strong operational performance was driven by favorable metal benefit from recycling, higher pricing, and lower operating costs compared to last year. However, revenue dropped by 6% YoY due to lower aluminium prices and flat volumes.

In the recent second quarter, the company posted 55% growth in its consolidated net profit to Rs 1,016 crore and revenue from operations increased 17% year-on-year (YoY) to Rs 4,115 crore.

Shiv Sehgal says: "With regards to dark horses, I think 2024 is likely to be export-oriented ones like IT and chemicals. This is because, globally, we have had a prolonged manufacturing recession (of more than a year), which has resulted in these stocks significantly underperforming the benchmark indices. Such a prolonged manufacturing downturn in the absence of a global recession is a historical anomaly. However, the global economy now seems to be bottoming out."

Indian equity markets thrive on policy continuity, investment-led growth, corporate earnings, and liquidity. The RBI policy remains unchanged, focusing on inflation and cues from the US Fed. Valuations favor largecaps. SIP investments provide diversification across market volatility. Geopolitical tensions and the global interest rate cycle pose risks to equity markets.

Experts recommend buying ACC and Maruti Suzuki stocks, and selling Bajaj Finserv, Hindustan Unilever, and DLF stocks. Granules India is recommended as a buy. Targets and stop losses are provided for each recommendation.

The public offer of Alpex Solar was subscribed 300 times at close. The category reserved for retail investors was booked 350 times and that of NII investors was subscribed 500 times.

Paytm shares fell 8.7% to Rs 385.75 on BSE after Macquarie downgraded the company with a reduced target price of Rs 275 in the base case scenario. Following a ban on Paytm Payments Bank, RBI Governor Shaktikanta Das stated that there is limited scope for reviewing actions.

Vibhor Steel Tubes is a manufacturer and exporter of mild steel ERW black and galvanized pipes, hollow steel pipe, cold rolled steel (CR) strips. The company has been in business for over 2 decades.