Latest Stock Market News

The S&P BSE Sensex rose more than 1200 points while Nifty50 reclaimed 21700 levels in the previous trading session. The Nifty future closed positive with gains of 1.80% at 21875 levels on Monday. India VIX was up by 14.29% from 15.33 to 15.84 levels.

Grayscale Investments’s spot Bitcoin exchange-traded fund (GBTC), which converted from a trust following the SEC’s decision, led the outflows with $2.2 billion last week. That brings its total outflow since conversion to just over $5 billion as of Jan. 26, according to the report.

Tata Steel Ltd. key Products/Revenue Segments include Steel & Steel Products, Power, Other Operating Revenue and Others for the year ending 31-Mar-2023.

U.S. Treasury yields remained under pressure in Asian hours, keeping a lid on dollar movement, after the Treasury Department said it would need to borrow less than its previous estimates.

Citigroup maintained a neutral rating on RIL with a target price of Rs 2910. There are some overcapacity concerns in the solar equipment space.

Dr Reddy’s Laboratories is set to release its earnings for the December quarter later today. The company is expected to see a muted growth in revenue amid lower sales of generic anti-cancer drug Revlimid and moderate growth in India business. Higher raw material inflation is seen hurting the profitability. Analysts and investors will closely track management comments on outlook for the US, Russia, and India markets, planned product launches for FY25, and research and development spending of the company.

Epack Durables, a leading room air conditioner manufacturer in India, debuted on the stock exchanges with a 4% discount over the issue price. The IPO, which had a healthy subscription of 16 times, included a fresh equity issue and an offer for sale by selling shareholders. The company plans to use the IPO proceeds for capital expansion and debt repayment. Epack Durables has a strong market share in the domestic air conditioner market and has expanded into the small domestic appliance market. Its revenue and profit have shown significant growth in recent years.