Latest Stock Market News

U.S. crude oil and gasoline inventories fell last week as demand picked up ahead of Labor Day weekend and the end of the summer driving season, the Energy Information Administration (EIA) said on Wednesday.

Walmart-backed fintech major PhonePe on Wednesday said the market cap overhang is a challenge for the potential listing of the company and can not go to the market based on the current numbers and market share. He also said the company plans to enter the European market in the next five years.

Tata Steel on Wednesday said it has acquired about 178 crore additional equity shares of T Steel Holdings Pte Ltd for USD 280 million, taking the total fund infusion into its Singapore-based arm to USD 1,337 million.

Rakesh Gangwal, co-founder of InterGlobe Aviation, plans to sell up to $804 million in shares via a block deal, with a floor price of Rs 4,593 each, a 5.5% discount to the current market price. This move follows his previous stake reduction and Shobha Gangwal’s exit.

The market value of Berkshire Hathaway surpassed $1 trillion on Wednesday, reflecting investor confidence in the conglomerate that Warren Buffett built over nearly six decades into what many consider a proxy for the American economy.

The index is still trending upwards, though a minor dip or consolidation could lead to a breakout above 25,100, opening the way for a potential target of 25,360. Support is around 24,800-24,750, according to Nagaraj Shetti of HDFC Securities.

Oravel Stays Ltd., the parent company of Oyo, has clocked a net profit for the first quarter of the fiscal year 2025, founder Ritesh Agarwal said in a townhall on Wednesday.

Square Yards achieved Q1 FY25 revenue of Rs 261 crore (USD 31 million), marking a 52% YoY increase. This growth continues a 12-quarter trend, driven by a 51% rise in Gross Transaction Value. The company forecasts FY25 revenue of Rs 1,506 crore (USD 180 million).

SBI has experienced remarkable growth in its net interest income, surging by an impressive 60% in just four years. It rose from under Rs 1 lakh crore in FY20 to Rs 1.60 lakh crore in FY24.

SME IPOs have been notably popular, with nearly all retail categories fully subscribed and many achieving up to 500 times or more subscription. Listings too have soared, triggering huge debate and coercive action from the regulator.