Latest Stock Market News

Bharti Airtel will hold over 50 per cent stake in Indus Towers after the ongoing Rs 2,640-crore share buyback scheme is completed. Indus Towers began the buyback of over 5.67 crore shares at Rs 465 each on August 14. Currently, Bharti Airtel has a 48.95 per cent stake in Indus Towers.

A total of 5,519 shares changed hands on the counter till 11:57AM (IST)

Zappfresh, an online meat seller, has filed with SEBI for an IPO to list on the BSE SME platform. The IPO will include a fresh issue of 59.06 lakh equity shares. The raised funds will drive growth initiatives such as acquisitions, marketing, and capital expenditures, among others. Zappfresh aims for significant revenue growth in the next three years.

Mutual funds have raised their stakes in ten key companies from the Nifty200 index during Q1 FY25. Stocks such as Mphasis, Gland Pharma, and Indus Towers saw significant increases. Other notable climbs were registered in Vodafone Idea, Jubilant FoodWorks, and Kotak Mahindra Bank, indicating growing investor confidence.

Gold October futures on MCX opened flat at Rs 72,040 per 10 gram, while silver September futures were trading at Rs 85,330/kg. Both metals showed high volatility amid U.S. consumer confidence data and dollar index fluctuations.

The Relative Strength Index of the stock stood at 57.15 on Wednesday.

I think Jubilant Foodworks delivered a relatively better set of numbers and the growth outlook is better, while this entire space is not so easy and we have not really seen any major numbers or data points suggest that the demand is coming back. I think Jubilant Foodworks is something that we like given the better set of numbers.

LTIMindtree shares rose 3.6% to Rs 5,950 after Kotak Institutional Equities upgraded the stock and raised its target price to Rs 6,200, citing recovery prospects and strong growth. The company also received a stay order on a Rs 378 crore GST notice.

The Nifty Auto index was trading 0.03 per cent down at 25904.45.

The annual general meeting of Reliance Industries Ltd (RIL) is set for August 29. While RIL shares have slightly underperformed benchmarks since the last meeting, they have still delivered solid returns. Investors are keenly anticipating updates on the listing of retail and digital businesses, potential stake sales, and progress in the new energy sector.