Latest Stock Market News

Biocon share price: Shares of Biocon Ltd rose 3% after Biocon Pharma received FDA approvals for cancer drugs Lenalidomide and Dasatinib, enhancing its US oncology market presence. The company also got tentative approval for Rivaroxaban. Despite recent stock declines, analysts suggest a potential 22% upside. Biocon s Q3 profits dropped sharply due to a previous one-time gain.

Coforge share price: Coforge shares surged by 7% following the announcement of a 1:5 stock split and the acquisition of two companies, Rythmos Inc. and TMLabs Pty Ltd, through its subsidiaries. This strategic move marks significant alterations in their equity share and expansion efforts.

Indian market to trade higher on Wednesday, influenced by positive global trends. Nifty formed a bullish candle but showed lower lows in the last four sessions, indicating shifting resistance. Experts recommend specific stock buys with designated target prices and stop losses for short-term trading.

Ambuja Cements shares may attract attention after receiving unconditional approval from the Competition Commission of India (CCI) for its acquisition of Orient Cement. The company will acquire 37.90% and 8.90% of Orient Cement s share capital through a share purchase agreement and make an open offer for 26% of the expanded capital at Rs 395.40 per share.

Low PE stocks, including TCS, Infosys, SBI, and others, present significant long-term investment potential. Trading below industry averages, these stocks could offer substantial returns up to 57%, as predicted by brokers. Diverse sectors within the Nifty100 index promise growth, supported by Trendlyne data.

Indian benchmark indices gained on Wednesday following the longest losing streak in three decades. The BSE Sensex rose by 504 points, and the Nifty 50 was up by 154 points, led by Mahindra & Mahindra, ICICI Bank, and others. The Nifty IT and Auto indices also saw significant increases.

BSE share price: The expiration date for monthly contracts has been moved to the last Monday of the expiry month for all the specified contracts. Furthermore, Nifty s weekly contracts will now expire on Mondays as well.

Reliance Industries Ltd (RIL) faces attention after its subsidiary, Reliance New Energy Battery Storage Ltd (RNEBSL), was penalized Rs 3.1 crore for missing a deadline under India’s PLI scheme for battery cell manufacturing. The penalty relates to a delay in achieving a key milestone in the development of a 10 GWh battery manufacturing facility in Gujarat.

Power Grid Corporation of India won three inter-state power transmission projects under a tariff-based bidding process. These include transmission systems for Rajasthan Renewable Energy Zone phase-5, Gujarat s Banaskantha power station, and Kurnool-IV REZ phase-I. Despite securing these projects, Power Grid reported a 4.1% decline in net profit for December 2024 quarter.