Latest Stock Market News

The stock quoted a 52-week high price of Rs 595.0 and a 52-week low of Rs 462.95.

The upcoming Union Budget, an interim one in an election year, is unlikely to have any "spectacular announcements" but could still have significant outcomes for investors. The focus is expected to be on tax relief measures to boost consumption and investment, especially for salaried individuals and MSMEs.

The dollar index (DXY) was trading slightly lower at 102.90 against a basket of six top currencies, up by 0.50 points or 0.49%. It has appreciated 0.32% over the past five trading sessions.

The board has recommended an interim dividend payout of Rs 12.70 a share and has fixed January 23 as the record date to determine the eligible shareholders for the same. This is the third interim dividend payout by the brokerage firm for the current financial year.

Deven Choksey expects strong quarterly results from Reliance due to lower crude oil prices benefiting their refining and petrochemical businesses, as well as growth in Jio Platforms and Reliance Retail. He believes Bandhan Bank is vulnerable to challenges in the eastern belt of India and may face pressure due to competition from larger banks. He also discusses the importance of spiritual tourism in reviving the economy of places like Ayodhya and suggests that companies catering to this sector may have better opportunities.

The share allotment for the SME IPO of New Swan Multitech will be finalised today. Investors will get shares on a lottery basis. They can check the allotment status through the BSE or by visiting the official website of the registrar. The SME IPO of New Swan Multitech was subscribed 380 times at close. The category reserved for retail investors was subscribed 388 times and the NII portion was booked 730 times. The shares will likely get listed on January 18.

PNC Infratech and PNC Infra Holdings, a wholly owned subsidiary of PNC Infratech had executed definitive agreements to sell equity stake in 12 road assets to Highways Infrastructure Trust for an enterprise value of Rs 9,005.7 crore. The road assets are in Uttar Pradesh, Madhya Pradesh, Karnataka and Rajasthan.

Asian Paints is expected to report strong quarterly earnings, with a sharp rise in consolidated net profit and revenue. The company is likely to see growth in decorative paints volume and an improvement in operational performance. The margin trajectory for future quarters will be a key focus for investors. Additionally, the outlook for the domestic decorative paints business, promotional spending trend, and raw material price trend will be closely monitored.

A total of 108,590 shares changed hands on the counter till 11:52AM (IST)

Syngene International Ltd, a pharma stock, fell 15% from its September 2023 high but recovered after a Double Bottom formation. Short-term traders can buy the stock for a target of Rs 880 in the next 2 months. The stock found support above 670 levels in October and December 2023, forming a Double Bottom. It closed above the 50-week moving average in January 2024. The stock is now trading above multiple moving averages and the RSI is at 56.5, indicating bullishness.