Latest Stock Market News

PVR INOX Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 14819.55 Crore) operating in Media & Entertainment sector.

The SME IPO of Qualitek Labs opens for subscription today. The issue closes on January 22. The IPO is entirely a fresh equity issue of 19.64 lakh shares at Rs 100 apiece. For the period ended September 2023, the company recorded revenues of Rs 12.48 crore and a net profit of Rs 2 crore. The net proceeds from the public offer will be used for funding capital expenditure, repayment of borrowings, and working capital requirements.

At the interbank foreign exchange, the domestic currency opened at 83.16 and inched up to 83.15 against the greenback in morning deals and traded at a loss of 1 paisa over its previous close.

Ultratech Ltd is expected to post higher revenue growth year-on-year due to higher volumes and better realisations. The company has already reported a consolidated sales volume growth of 6% year-on-year. Net revenues are likely to grow 8% in the December quarter, while profit is seen showing solid growth of 70% year-on-year, according to an average estimate of four analysts.

Brokerage firm Bernstein maintained an outperform rating on HDFC Bank, Nomura maintained a buy rating on Apollo Hospitals, InCred downgraded LTIMindtree and Goldman Sachs maintained a neutral rating on Asian Paints.

The Nifty Realty index was trading 2.81 per cent down at 832.25.

Australian Premium Solar, a manufacturer of Monocrystalline and Polycrystalline solar panels, debuted with a 159.3% premium on the NSE SME platform. The IPO garnered subscription of over 450 times, with the retail investors category subscribed 530 times and the NII portion booked 770 times. The QIB part of the IPO was booked 107 times. The net proceeds will be used for capital expenditure, working capital, and general corporate purposes.

A total of 2,023 shares changed hands on the counter till 10:00AM (IST)

Indian investors can now buy crypto ETFs by depositing INR in Indian exchanges or through the Liberalised Remittance Scheme (LRS) route. The LRS route allows investors to send up to $250,000 per year to a US brokerage account and take exposure to the ETF. However, using the LRS route may incur a 20% TCS on remittances above 7 lakhs.Trading on Indian exchanges does not have a TCS angle but involves a 1% TDS on selling and a 30% tax on profits. Investors can allocate around 10% or less to crypto ETFs and accumulate assets systematically.