Latest Stock Market News

Muthoot Finance shares rose 2.6% after receiving RBI approval to open 115 new branches. The gold loan-focused NBFC reported a 26% YoY growth in net profit for Q3, with revenue from operations surging 36%. The company s highest-ever consolidated loan assets under management reached Rs 1.11 lakh crore as of December 2024.

Oil prices rebounded slightly after President Donald Trump reversed Chevron s license to operate in Venezuela, affecting a quarter of the country s oil exports. Market reactions were also influenced by potential U.S. Strategic Petroleum Reserve purchases amid ongoing Russian-Ukraine peace talks.

Jim Rogers owns both gold and silver. He prefers silver over gold due to its lower price and industrial demand

Among the top gainers from the Sensex pack, Bajaj Finance, IndusInd Bank, Bajaj Finserv, Tata Steel, and HDFC Bank rose by up to 2%. On the other hand, UltraTech Cement, Kotak Bank, Power Grid, and NTPC opened in the red. Sector-wise, the Nifty Bank and Financial Services indices gained 0.45% and 0.65%, respectively.

With valuations still slightly above historical averages, the market may require a period of stabilization before regaining strength.

JM Financial recommends buying Vodafone Idea at Rs 7.98, targeting Rs 9. The company needs significant tariff hikes, partial government payment relief, and a sustainable capex increase for long-term viability. Vodafone Idea reported a Q3 2024 total income of Rs 11366.80 crore but a net loss of Rs 6609.30 crore. Promoters hold a 37.32% stake.

Promoters of Nifty50 firms are selling their stakes at an unprecedented rate, leading to promoter ownership hitting a 22-year low of 41.1% in the December quarter. As they cash out at peak valuations, institutional investors, particularly domestic mutual funds, are stepping in to fill the void.

Despite a five-month market downturn, 60% of NSE500 stocks are still trading above their 5-year PE levels, suggesting overvaluation. Analysts advise focusing on quality stocks in banking, financial services, FMCG, and metals for long-term gains, with balanced portfolio allocation.

Shares of wires and cables manufacturers plunged as UltraTech Cement announced its foray into the industry. Polycab India and KEI Industries hit 10% lower circuits. UltraTech plans to become a holistic building solutions provider with Rs 1,800 crore capex, sparking fears of margin pressures and competition.

Jefferies has maintained a Buy rating on Jubilant FoodWorks, expecting strong growth fueled by industry trends in the Quick Service Restaurant (QSR) sector and strategic efforts to revitalize its dining business.