Latest Stock Market News

Shares of Redington Ltd surged 16% to a day’s high of Rs 280 on September 16, driven by excitement around the iPhone 17 launch, with sales starting September 19. The stock gained as the company manages the supply chain for Apple products, leveraging its long-standing partnership and handling logistics, warehousing, and distribution across India, the Middle East, Turkey, Africa, and South Asia.

Euro zone bond yields were little changed on Tuesday, tracking muted moves in their U.S. counterparts, as investors prepared for the Federal Reserve to resume its easing cycle this week following a nine-month hiatus.

Japan s Nikkei share average closed at a record high for a fourth consecutive session on Tuesday, as investors scooped up chip-related stocks ahead of the U.S. Federal Reserve s crucial policy decision on Wednesday.

India’s five listed REITs surged sharply after Sebi reclassified them as equity instruments. The move is seen as a landmark reform that could boost mutual fund participation, improve liquidity, and pave the way for index inclusion.

Jinkushal Industries, an export-focused construction machinery supplier, has set its IPO price band at Rs 115–121 per share. The Rs 116.11 crore issue, comprising fresh equity and an offer for sale, opens on September 25 and closes on September 29, with listing expected on October 3. Post-listing market cap may reach Rs 464.42 crore at the top band.

Reliance Power and Reliance Infrastructure shares rebounded after recent losses, despite ongoing legal challenges for Anil Ambani and bearish technical indicators. Recent contract wins in renewable energy and modest earnings recoveries offered some support. However, investigations and debt concerns continue to cast a shadow over the companies long-term prospects, creating uncertainty for investors.

Eternal (formerly Zomato) has overtaken Tata Motors and Titan in market capitalisation, reaching Rs 3.13 lakh crore. The surge positions it just behind Hindustan Aeronautics Ltd (HAL) at Rs 3.22 lakh crore, securing its entry into the top 25 Nifty50 stocks. The rally reflects investor confidence, driven by strong revenue momentum and Blinkit’s growing contribution.

Despite their inherent risks, certain penny stocks have garnered significant interest from foreign institutional investors (FIIs), with ownership stakes exceeding 15%. While many of these companies have faced challenges, including negative one-year returns, the substantial foreign backing suggests potential for future growth. Companies like Leading Leasing Finance, Standard Industries, and others remain on the FII radar.

Brokerage firms have initiated coverage on nine stocks, offering research-backed recommendations to investors. Jefferies is optimistic about Radico Khaitan, United Spirits, and Allied Blenders, while Motilal Oswal is neutral on Bajaj Housing Finance but positive on Ellenbarrie Industrial Gases. Morgan Stanley favors Aditya Birla Lifestyle Brands and CG Power, Axis Securities recommends Mahanagar Gas, and JM Financial suggests Angel One.