Latest Stock Market News

Rapid Multimodal Logistics, based in Chennai, made its debut on the BSE SME platform with a 22.6% premium, listing at Rs 103 against an issue price of Rs 84. The IPO, fully subscribed with fresh equity of 10.11 lakh shares, was overbooked 300 times at close. The company reported revenues of Rs 71.

Realty firm Prestige Estates Projects Ltd has launched a plan to raise up to Rs 5,000 crore through a Qualified Institutional Placement (QIP). The floor price for the equity shares has been set at Rs 1,755.09 per share. Recently, the company reported a 13% decline in net profit for the June quarter due to higher expenses.

A short buildup occurs when there is a rise in open interest and trading volumes, coupled with a decrease in the price of the underlying stock in the Futures and Options segment.

The Relative Strength Index of the stock stood at 63.08 on Friday.

Everybody views interest rate cuts very positively. However, I believe one needs to think a bit counterintuitively or with second-order thinking. The reason being that rate cuts and the magnitude of change in expectations can only occur with weakening economic data.

Macquarie has maintained a "Neutral" rating on Reliance Industries (RIL) with a target price of Rs 2,750. The firm views the New Energy business as a key driver for future growth and value creation. Progress in other areas like 5G, home broadband, media, retail, and O2C was largely seen as consistent with prior expectations. While New Energy ambitions are seen as supportive of long-term growth, they need to be de-risked.

The Indian market is projected to trade higher on Friday, tracking positive global trends. The Nifty index has shown consistent growth, aiming for further gains if it holds above 25,100 zones, with significant support at 25,000. Experts have listed promising short-term stock picks to capitalize on this trend.

The Indian rupee is expected to recover further, bolstered by a rally in the Chinese yuan and anticipated inflows from higher weightage in MSCI’s index. The rupee may open flat-to-marginally higher against the U.S. dollar, with potential gains due to equity inflows of up to $3 billion.

Computer Age Management Services Ltd., incorporated in the year 1988, is a Small Cap company (having a market cap of Rs 21385.09 Crore) operating in Financial Services sector.