Latest Stock Market News

Short covering signals a shift in view on a security from extreme bearishness to bullishness.

Inox India IPO Allotment Status: The initial public offer (IPO) of Inox India was subscribed 61 times at close, driven by strong interest from qualified institutional buyers.

Year-to-date, the NSE Nifty 50 has gained more than 18% and the BSE Sensex 17%, driven by robust inflows from both domestic and foreign investors.

Promoters held 62.55 per cent stake in the company as of 30-Sep-2023, while FII and DII ownership stood at 12.21 per cent and 7.68 per cent, respectively.

"A reflection on PSBs valuation history may cause trading multiples to look constrained, however the quality of earnings, growth outlook and broader re-rating in PSU entities will nevertheless enable steady performance of the sector," Motilal analysts including Nitin Aggarwal said.

Go First, which stopped flying on May 3 amid financial woes mainly triggered by Pratt & Whitney engine issues, is undergoing an insolvency resolution process, PTI reported.

The central bank also made no change to its dovish policy guidance, dashing hopes among some traders it would tweak the language to signal a near-term end to negative interest rates.

"The duly authorised Committee of Directors at its meeting held today...considered and approved for raising, on a private placement basis, up to 3,40,000 nos secured, unrated, unlisted, redeemable, non-convertible debentures (NCDs) of face value Rs 1,00,000 each aggregating up to Rs 3,400 crore in one or more tranche(s)," the company said in a stock exchange filing.

The Relative Strength Index of the stock stood at 34.07 on Tuesday.

“The government or the country is moving so fast. One year ago, we did not know that Vande Bharat would be such a great opportunity. One year ago, we did not know that wheels would be produced in India. One year ago, we did not know what freight targets would be or two years ago, we did not know that freight targets would be set to 3 billion tons.”