Latest Stock Market News

The Relative Strength Index of the stock stood at 65.02 on Monday.

The stock quoted a 52-week high price of Rs 3277.8 and a 52-week low of Rs 2293.1.

Rajesh Bhatia, CIO of ITI MF, addressed the future growth and current valuations in sectors like defence, railways, domestic pharma, and electric vehicles. He cautioned about the high beta and cyclical nature of capital market plays. Bhatia also noted the ongoing structural shifts and challenges within these sectors, urging a careful approach to investments.

Goal-based investing provides a more efficient and intelligent strategy by aligning your investments with specific financial objectives, making your financial journey more focused and secure. Consider this scenario: You have Rs 50,000 to invest and notice the stock market is surging. Enticed by the recent strong performance of equities, you decide to invest the entire amount in stocks, aiming for significant returns.

NIIT shares climbed 20% to a day’s high of Rs 153.84 on the NSE after ace investor Ramesh Damani acquired a 0.59% stake in the education company, valued at Rs 10.02 crore, through an open market transaction. Over the past two trading sessions, NIIT’s stock price has soared by 29%, rising from Rs 119.08 on Thursday, August 22, to its current level.

A total of 338,466 shares changed hands on the counter till 01:39PM (IST)

FY24 marked a record-breaking year for residential real estate absorption, with pan-India sales surpassing the billion square feet milestone. Since FY21, pre-sales in the top seven markets have consistently outpaced new launches, significantly reducing inventory levels to just 11 months.

Several brokerage firms provided ratings on notable companies. CLSA rated Reliance as Outperform with a Rs 3,300 target. Nomura downgraded Apollo Hospitals to Neutral, targeting Rs 6,856. Citi maintained a Sell rating on Zydus Life with a Rs 890 target. BofA issued a Buy rating on L&T at Rs 4,043, anticipating margin expansion.