Latest Stock Market News

Jyoti CNC Automation IPO will open for subscription on January 9. The IPO is worth up to Rs 1,000 crore and will be the first mainboard issue of the year. Investors can subscribe to a minimum of 45 shares in one lot and its multiples thereafter. The company is offering a discount of Rs 15 per equity share to eligible employees under the employee reservation portion.

The bank, which has a lineage of unsecured microfinance business, has seen its secured book inching up to 28.5% at the end of December against 27.5% a year back. A gradual pick-up in other secured businesses like loans to micro and small enterprises and micro mortgage loans also helped, the bank said Wednesday.

Metro cities had grown the fastest from Q2 of last fiscal to Q1 of FY24. The aviation sector saw the highest growth of 29.7%, along with the hospitality sector at 12.8% in Q2 of FY24, reflecting an increased demand for travel, said the report. These travels may have been triggered by events such as the World Cup.

The apex court also asked the Centre and Sebi to constructively consider suggestions of the six-member expert committee headed by former Supreme Court judge AM Sapre, and take further action to strengthen the regulatory framework, protect investors and ensure the orderly functioning of the securities market.

So say a pack of stock skeptics who, while not counseling selling out of the market, warn that some of the bull cases going around suffer from some optimistic framings.

People familiar with the matter told ET that the approval is more than 97% for bonds maturing in 2024, 2025, and 2026. The company had to immediately repay $1 billion debt on January 21. It had offered an additional early consent fee for those agreeing to the restructuring, sweetening the proposal for investors.

Fund managers said modest and brief declines in mid-cap and small-cap stocks in recent times make them more vulnerable to steeper corrections.

The Nifty Metal index fell 1.81% Wednesday. Among steel producers, JSW Steel, SAIL and Tata Steel slumped 3-4%. Shares of aluminium producers Nalco and Hindalco tumbled 6.5% and 3.8%, respectively.

NHPC has signed a MoU with GPCL for proposed investment of Rs 4,000 crore in Kuppa Pumped Storage Project (750 MW).