Latest Stock Market News

The company had earlier mentioned that it is gunning for cash flow positive as its next milestone. “In my opinion, in the next 3 years, you will see some worthy numbers and results of hard work put in by the team. Our team remains committed to serve India and build a long-term profitable business,” said Sharma.

The block deal comes after ace investor Ashish Kacholia sold part of his stake in the aesthetic solutions provider for Rs 11.6 crore through the open market on Friday. Kacholia offloaded 1.8 lakh shares of SJS Enterprises for Rs 640 apiece in a bulk deal following which the stock had fallen over 3% on Monday.

Looks strong among the private banking majors. Formed a fresh base at 100 EMA. Rebound likely.

As far as the progress ahead for Reliance is concerned or Jio Financial particularly is concerned, all is going to be interlinked with the current set of business that Reliance enjoys primarily on the telecom side and secondly on the retail side that they have.

"Companies like Persistent, LTIMindtree, Coforge have delivered a decent set and the management commentaries have been very optimistic. They do not believe that pricing issues will come through and order wins will continue. As EBITDA margins start normalising after the first half where wage hikes and the rest in terms of an increased allocation of operating expenses largely come through on the balance sheet, numbers should probably remain extremely stable even in the second half."

From the Sensex pack, Bajaj Finserv, HDFC Bank, SBI, JSW Steel, Bajaj Finance, and Asian Paints opened higher, while Jio Financial Services, Nestle, TCS, Reliance, and HUL opened lower.

"While there may be short-term challenges for entrepreneurs in India, such as funding difficulties and a focus on profitability, the long-term outlook is promising. Budding entrepreneurs must have a clear vision, be detail-oriented, and persevere in order to build scalable and successful companies. Despite the current funding winter, funding opportunities still exist for the right companies. "

As part of the demerger, JFSL has received 413 million treasury shares or 6.1% of the total share capital of RIL. At the current market price, the value of these shares is about Rs 1 lakh crore.

JFS is part of the benchmark Nifty 50 and Sensex due to their demerger from Reliance but they will be removed from the benchmarks at the end of third trading day, per exchange rules.

BofA Securities maintained a buy rating on Bajaj Finance with a target price of Rs 8750. The company has multiple levers to support growth. The focus is on diversification. It has taken proactive action on unsecured growth, and the FY24 target remains intact.