Latest Stock Market News

Brokerages remain optimistic about the prospects of the state insurer SBI Life, with Jefferies and CLSA reiterating their buy views on the counter.

As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.

On Saturday last week, YES Bank reported robust growth in profit for the December quarter, with the bottomline surging more than four times year-on-year (YoY) to Rs 231 crore. Its net interest income, the difference between interest earned and interest expended, rose 2.4% YoY to Rs 2,017 crore.

Steady volume growth in both cigarettes and non-cigarette FMCG business, coupled with strong traction in the hotels segment is likely to aid the quarterly performance of the diversified conglomerate.

Karnataka Bank has decided to allot Rs 100 crore worth of preferential shares to ICICI Lombard General Insurance as part of its plans to raise Rs 700 crore in fresh equity. The allotment is subject to regulatory and shareholder approval and will be raised through other permitted means. The bank raised Rs 800 crore through a preferential issue of shares in October last year.

“This transaction is aligned with our focus on monetizing non-core assets. The proceeds from the transaction will further strengthen our balance sheet,” Piramal Enterprises informed exchanges in a January 27 filing. The transaction, which will be conducted through a share purchase agreement, is subject to the receipt of requisite regulatory approvals by Shriram Ownership Trust, Piramal Enterprises said.

A string of supportive policies by Beijing including a deep cut to bank reserves helped lift Chinese stocks off five-year lows early last week but then they retreated again on Friday, reflecting deep investor pessimism over the outlook for markets and the shaky economy.

Pune-based real estate developer Ashdan Properties emerges as the highest bidder to take over the ₹14,000 crore debt of Rolta India with a bid valued at close to ₹760 crore on a net present value (NPV) basis. The bid beats eight other bidders including data centre company Cyfuture India and Jai Corp vice chairman Virendra Jain.

An app named Choicese (CHC-SES), launched at the end of November 2023, disappeared within two months, leaving several crores lost for hundreds of investors.