Latest Stock Market News

According to the most recent mutual fund analysis conducted by ETMarkets, in September, 6 stocks witnessed a decrease in holdings by over 10 mutual fund schemes compared to August

On October 13, ETMarkets spotlights 10 stocks that are cruising in the overbought zone. Discover the importance of Relative Strength Index (RSI) in assessing these stocks and how it can guide your investment decisions.

In the dynamic world of stock markets, investors often turn to key indicators to guide their investment decisions. The Simple Moving Average (SMA) is one such essential tool, and crossing the 50-day SMA is often seen as a significant event.

In a day marked by impressive market activity, several largecap stocks achieved significant milestones by reaching new 52-week highs. These notable performances underline the growth potential and resilience of these companies, providing investors with attractive opportunities in the largecap segment.

Yatra online said it recorded the strongest quarter on the air front since the advent of Covid-19 with the highest number of air passengers booked since pre-Covid in December 2019, up 41.5% YoY far outpacing domestic air passenger industry growth of 14.8% YoY.

Hemant Sood, MD of Findoc, recommends the top investment instruments for senior citizens as NPS, Atal Pension Yojana, and Pradhan Mantri Vaya Vandana Yojana. These schemes offer low-risk or zero-risk investments backed by the government of India. The returns range from 6-7%, with regular interest payments. However, the regular monthly income from these schemes is taxable. Senior citizens should consider tax-efficient investment instruments, such as those linked with insurance, for long-term schemes.

Despite a lackluster trade, most mining stocks were trading in the green. Nifty constituent Coal India was up 1.36%, while The Orissa Minerals Development Company, Gujarat Mineral Development Corporation (GMDC), NMDC, Hindustan Zinc, Vedanta and MOIL gained between 4.50% and 0.22%.

Dixon Tech, an outsourcing company in India, has entered into a partnership with Xiaomi for manufacturing smartphones. The company has set up a new factory in Noida with an investment of approximately Rs 400 crore. Commercial production is expected to start by the end of this month or next month. Dixon Tech believes that electronic goods for both Indian and global markets will be manufactured in India, and they aim to provide electronic manufacturing services to more brands.

"Paytm’s operating metrics have been surprisingly positive, and we are further raising our FY24-26E EBITDA estimates by 2-5%, with our target price moving to Rs 1,250 (was Rs1,200)," Goldman said, adding that it has a forecast of 30% YoY revenue growth for Paytm in Q2.