Latest Stock Market News

The aggregate interest coverage ratio for India Inc hit a nine-quarter high in the recently concluded quarterly results season following a sustained double-digit growth in the operating profit and deceleration in the interest expense.

The S&P 500 and the Dow opened higher on Monday, with markets focused on results from AI-darling Nvidia and a key inflation report due later in the week, while geopolitical tensions in the Middle East made investors wary.

Individuals and entities using Indian and international mobile numbers and social media platforms such as WhatsApp, Facebook, Telegram, and Instagram have been circulating fake certificates allegedly issued by Sebi and exchanges, according to a joint statement by the exchanges.

Oil prices rose around 3% on Monday on reports of a near total production stoppage in Libya, adding to earlier gains on concerns that escalating conflict in the Middle East could disrupt regional oil supplies.

Short covering, where traders buy back previously shorted shares, led to a decrease in open interest and potentially boosted the prices of five stocks on Monday.

Bank of America acquired 1.3 lakh Interarch Building Products shares for Rs 16.74 crore at Rs 1,287.75 each, a 43% premium over the issue price. Aditya Birla Sun Life Mutual Fund bought 2 lakh shares. The stock closed at Rs 1,203.10, down 7.38% from its listing price.

UltraTech Cement raised $500 million through a sustainability-linked loan, marking its second such endeavour after a 2021 bond issuance. Six banks, including SMBC and SBI, participated. The company posted a slight increase in net profit for the quarter ended June 30, 2024, compared to the previous year, with revenue also seeing a modest rise.

​There is a long list of stocks which have benefited due to cyclical upturn which is very short term and when the cycle turns not so favourable then you might see a lot of those mid and smallcap names struggling to justify the valuation at which they are trading right now.