Latest Stock Market News

Oil prices declined on Wednesday owing to rising U.S. crude inventories and lessened Middle East tensions following mediation efforts. Brent crude fell to $77.11 per barrel, and U.S. West Texas Intermediate to $73.07. Crude stocks increased by 347,000 barrels, while gasoline and distillate stocks saw reductions. Economic issues in China also influenced the market.

IndusInd Bank received approval from the Reserve Bank of India to set up a wholly-owned asset management business, a first for a mainstream lender. This move could signal more opportunities for other banks looking to diversify into para-banking sectors. The RBI had earlier allowed HDFC and ICICI Bank to increase stakes in insurance subsidiaries.

UBS Securities has rated KEI Industries and Polycab India with buy ratings, forecasting a 26-31% increase in their stocks over the next year. Analysts mentioned strong domestic demand, capacity expansion, and real estate growth as driving factors. KEI shares increased by 7.6% and Polycab by 2.2% on Tuesday.

Indian markets surged on Tuesday, led by strong buying in banking, financial, and auto stocks. Key stocks included Angel One, up 13.19%, Hindustan Zinc, which gained 3.73%, and Triveni, which fell 2.42%. Analyst Kushal Gandhi recommends buying Angel One, abstaining from Hindustan Zinc, and sees potential in Triveni stocks for favorable trading opportunities.

So, in any case we are not invested in any of these stocks and in fact we do not advocate also getting into these stocks even after 20% correction because we believe that they are valued much ahead of the time. They are all good companies, they will keep performing but you have already paid them for next four-five years of performance.

Stocks in news: The markets saw an uptick of almost half a percent on Tuesday, with Zomato, Cyient DLM, L&T, Petronet LNG, and NHPC grabbing attention. Notable activities included a major stake sale by Antfin Singapore Holding in Zomato, and equity transactions involving PNB Housing Finance and Cyient DLM. L&T got GST relief, while NHPC reported a landslide at Teesta-V.

Sebi has proposed reforms to streamline the process for Indian companies to raise funds via rights issues. Key changes include eliminating the draft offer letter, removing the merchant banker requirement, and reducing timelines.

Last month, the company entered into definitive agreements for acquisition of 55 per cent stake of GG Tronics through a combination of purchase of equity shares from GGT promoters and by way of subscription to compulsorily Convertible Preference Shares for an aggregate consideration of Rs 319.38 crore.

A recent NSE circular has disallowed sharing brokerage income for referrals to prevent trade inducement. Zerodha said it would pay out all referral wallet balances over Rs 10 and stop the referral program from August 25.